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your not following my point.. im not saying panic and fear is what caused our problems nor am i saying there is pandamonian in the streets, im saying peoples own fear of loosing money and not acting alot of times or their selling out of fear of loosing money has allowed me to make nice profits thru out my investing career. it all has very much to do with fear of buying and loosing money... why do you suppose so many walked away from their properties even though they could pay the mortgage---FEAR OF LOOSING MONEY
why do you suppose those that want homes are afraid to buy them now - FEAR OF LOOSING MONEY if things fall further
we bought a house recently and i had to fight myself to do it. we are retiring in a year or so and i wanted a home in the pocono mountains of pa. my brain almost talked me out of doing it.
why do you suppose the funds i bought around the march lows rose over 80% since then.. while other were panicking and selling for FEAR of loosing money ,i was buying.
dont mis-understand the word. it dosnt have to mean pandamonium in the streets, its your own fear inside that you may loose money that stops people dead in their tracks and that creates oppertunity for others who can act. .. in fact alot of times its this fear that forces people to do exactly the opposite of what they should have done.
im going to say that im quite sure that this downturn will create some incredible wealth eventually . it already has created amazing amounts of wealth in an amazing short period of time for those who had no fear of loosing money as markets of all types dropped with panic selling. .
think about the fact right now it would take 304 years in a treasury bill to double your money. thats a freakin very long time. for those that squelched their fears and bought equities near the lows you just about did it in 6 months...
long term ill bet the real estate market will create quite a bit of wealth too but like any cycleable asset its a long term hold..... dont want to wait? dont do it!.
there were so many deals i regreted not doing in the early 90;s but real estate just crashed here in new york city and my brain handed me every line and what if... i already owned a property i bought at the peak and it was under water.. i took advantage of a few but no where near what i should have. TODAY I WISH I HAD BOUGHT A DOZEN PROPERTIES LIKE THE ONE I BOUGHT THAT WAS UNDER WATER BACK THEN. I WOULD EVEN HAVE BOUGHT THEM AT THE PEAK TOO.
for a great insight into just how our brain paralyzes us with fear i suggest reading JASON ZWEIGS BOOK- YOUR MONEY YOUR BRAIN.
Its not loosing money..its losing money..thank you
WASHINGTON (Reuters) - The pace of job losses slowed in many U.S. states in October, and the unemployment rate slipped in hard-hit Michigan, the Labor Department said on Friday, hinting the recession may be easing in some areas.
WASHINGTON (Reuters) - The pace of job losses slowed in many U.S. states in October, and the unemployment rate slipped in hard-hit Michigan, the Labor Department said on Friday, hinting the recession may be easing in some areas.
one of the silver linings to all this unemplyment is we eventually tend to see a whole lot of new self entrepanuer business's start up in droves...
every major down turn has produced some really fine businesses as people get creative with their own talents out of need since jobs are still scarce....
from what im hearing from some folks in the banking industry they are slowly opening the taps and letting money flow to some of these start ups.
we just got to our house in the poconos tonight after being in new york for the last few weeks , all over are new businesses being constructed and springing up. . im blown away at the activity here......
but im not surprised as thats usually what happens as unemployment starts to peak. i thought it would be a little early for all these new small business ventures but i guess not, we just saw them.
Not my research pal - from Reuters. I just linked the article.
yea so what.....I don't care where its from, unemployment is at its highest and only getting worse. They can stretch and switch and screw with those numbers all they want to show the stimulus is working, but things are so bad ... ridiculous
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no worries...not trying to be a pain...
