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Discussion in 'Off-Topic Discussion' started by AUDITECH, Mar 5, 2009.

  1. Mar 5, 2009 at 5:40 PM
    #1
    AUDITECH

    AUDITECH [OP] Carolina Alliance: LAZY DIVISION

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    Sorry for all the politcal stuff i just feel if we dont get it turned around we are going to lucky to pay for our trucks or houses much less to anything extra.
     
  2. Mar 5, 2009 at 8:40 PM
    #2
    neontrail

    neontrail ✈ ✈ ✈ ✈ ✈ ✈ ✈

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    We're all on the same team, and in this together! [​IMG]
     
  3. Mar 6, 2009 at 2:14 AM
    #3
    Janster

    Janster Old & Forgetful

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    What exactly can you do? The elections were in November.
    The current administration walked into a load full of crap to deal with.

    Yeah, we're all in the same boat.....I think I'm getting sea sick! :D

    My husband and I lost a boat load of money in the market the last couple years. About half of what we had - we lost. He yanked the money out yesterday and are gonna put it into CD's. Dunno what else to do....
    HALF of our money - GONE!! I busted my ass for that money and it's gone like a fart in the wind. Yeah..so much for building our future. :rolleyes:
     
  4. Mar 6, 2009 at 3:29 AM
    #4
    AUDITECH

    AUDITECH [OP] Carolina Alliance: LAZY DIVISION

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    Right no the market is not liking this adminstration the market has droped 20% since Jan
     
  5. Mar 6, 2009 at 4:01 AM
    #5
    longbow

    longbow I see you now..................

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    X2
     
  6. Mar 6, 2009 at 5:58 AM
    #6
    WNYTACOMA

    WNYTACOMA Well-Known Member

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    This thing has been years in the making. I am in a real estate related field, and when i saw some of the people who they were giving loans to and for the types (expense-wise) of homes that they were approving them to buy, it was obvious it wasn't going to end well.

    I told people for at least the last 3 years that this was coming and it was going to fall like a house of cards due to the smoke and mirrors service based economy that the politicians (all of them, boys and girls) had created whether by selling out to special interests (huge factor) or the other factors.

    Cheap Chinese imports allowed people to keep spending, especially when the crap doesn't last for more than 6 months. ...gave the illusion of propserity. Easy credit to any one breathing was also a huge factor as we all know.

    When it hits the fan and money becomes tight, service jobs are the first to be cut back on. One affects the next, affects the next.

    I find it unbelieveable that some blue collar schmuck saw all of this coming but the professional economists and policy makers did not. Don't buy that for a minute. They (all of them) kept putting band aids on it so the next round would pick up the tab. All so they wouldn't have to play the heavy.

    The current administration inherited one hell of a mess, courtesy of many before him. I wish them good luck for all of our sake.

    House of cards...
     
  7. Mar 6, 2009 at 7:19 AM
    #7
    Simon's Mom

    Simon's Mom Wag More Bark Less

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    x3 :thumbsup:
     
  8. Mar 6, 2009 at 7:31 AM
    #8
    mws4ua

    mws4ua I'll try being nicer if you try being smarter.

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    You're going to miss out on the recovery. The half that you lost will never come back if you don't give it the chance.

    I'm not telling you (or anybody else) how to run your life or investments, but pulling the money out and locking it in CD feels good now, but long term it's going to keep you from getting the returns that will come when the market rebounds.

    We've lost a good bit, but we're putting in new money with every paycheck... some day the money we've lost will come back, and the money we're putting in now will provide nice returns.

    I'm lucky that I have a long time horizon before retirement (at least 30 years) so the big hit I've taken recently isn't going to keep me working or looking for a job as a WalMart greeter any time soon.

    I think the best quote I've heard about a turbulent market is this:

    "The stock market is like a roller coaster. The only people who get hurt are the ones who jump off."
     
  9. Mar 6, 2009 at 7:38 AM
    #9
    98tacoma27

    98tacoma27 is gooder 'en chicken Moderator

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    No biggie man. Just shows how passionate you are about your beliefs and this country. I only wish I could be as interested and knowledgeable about politics as you are.

    I know what you are saying but I am leaving mine sit for the recovery. It will bounce back like a spring board.
     
  10. Mar 6, 2009 at 8:35 AM
    #10
    bobwilson1977

    bobwilson1977 Well-Known Member

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    I don't think anyone saw this coming. I knew things would blow up because living in Cali where people were paying 600k for starter homes had to tell you something was terribly wrong. I'm an old-fashioned guy so I'm mostly cash, which I've read is good in recessions; "cash is king". I do have some investments, but they are staying right where they are.I still put into my 401k as well.

    I agree with mws4ua. If you have investments in the market, don't think of them as losing money. You still have the same amount of shares. Its just that their value is worth less than before. Over time, these will recover. But if you pull money out, then you really did just lose 50%. I realize that its counterintuitive to leave money in a losing market, but in reality, right now prices are extremely low and I kind of wish I had invested now versus last year.
     
  11. Mar 6, 2009 at 8:55 AM
    #11
    TacoCo

    TacoCo Aspiring wrench monkey

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    Dude, it dropped more than that last year! Market reaction has much more to do with what's going on right now than it does with the administration. I'm not stockpiling my money away right now because I'm worried about the president, it's because I'm worried about getting laid off.
     
  12. Mar 6, 2009 at 9:01 AM
    #12
    TacoCo

    TacoCo Aspiring wrench monkey

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    And Auditech, I'm certainly just as scared as you about all of this, and I understand your concern. We're in a vicious cycle right now that started long before Obama took office, and it's going to be a long time before this gets resolved. The worst part is that it's just feeding on itself. I hear the news about layoffs and unemployment every day, and all I can think about is when does it catch up to me? My employer has already laid off a few people, and I'd like to think that I'm valuable enough that they won't lay me off, but it's a real possibility if things don't get better soon. So, I think most people in our position start hoarding what money they have, and it only makes things worse, causing retailers to lay people off or close their doors and only further the perception that everyone is at risk of losing their jobs.
     
  13. Mar 6, 2009 at 9:03 AM
    #13
    eordonez

    eordonez Living vicariously through mjp2

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    I think the whole world is in the same situation, we are scared of whats coming.... Mexican economy, is in a spiral going down, and the worst part is that our officials say everything is ok, but the situations is starting to reflect in the pockets of many mexicans, lets all hope this get solved very soon....
     
  14. Mar 6, 2009 at 9:09 AM
    #14
    98tacoma27

    98tacoma27 is gooder 'en chicken Moderator

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    I agrred Ed. I just happened to catch different market quotes last night from around the world. It looks just as bad there as it is here.
     
  15. Mar 6, 2009 at 9:12 AM
    #15
    eordonez

    eordonez Living vicariously through mjp2

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    Yep, and we have electoral year, we renew the full congress, and the current government of course is trying to make the people think everything is ok so people vote their party, so its f..ed up right now, not to mention parties are using the violence and insecurity as an electoral flag.....

    $1 USD = $15.30 MXN and growing higher.... last year this month was about 10.5 - 11
     
  16. Mar 6, 2009 at 9:15 AM
    #16
    lsocoee

    lsocoee My hair is all natural Moderator

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    I think it's time for a vacation to Mexico! Chihuahua, here we come!
     
  17. Mar 6, 2009 at 9:16 AM
    #17
    TacoCo

    TacoCo Aspiring wrench monkey

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    And if the damn drug cartels weren't fucking everything up for you guys, I'd be down there spending some of my USD's. I hope they get that situation worked out soon.
     
  18. Mar 6, 2009 at 9:36 AM
    #18
    Y0TA

    Y0TA TW Addict

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    all this talk about "now is the time to invest" makes me want to do it. but ive never put money in the market before, so where does someone with no experience at all with this start? and how much money does it take to start something like this?
     
  19. Mar 6, 2009 at 9:50 AM
    #19
    lsocoee

    lsocoee My hair is all natural Moderator

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    I had money in a mutual fund. I lost about 40% and then I said screw it around the time that Ford and GM started grumbling about bankruptcy. I check my old account and I saved myself from losing another 20% on top of the 40%. I'll invest again when people start cheering up.

    Unfortunately, I think we have a ways to go before we hit bottom.
     
  20. Mar 6, 2009 at 9:52 AM
    #20
    Janster

    Janster Old & Forgetful

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    What recovery? In 10 years?

    Last year we decided to *ride the storm* and keep the money in the market. There's no light at the end of this shitty economy tunnel.

    We'll all be damn lucky to see any improvements in 5 years. It's gonna be a really L O N G roller coaster ride.
     
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