texastrophies Posted August 4, 2011 Report Share Posted August 4, 2011 Dow is down about 500 points today. I would like to thank all of our members of congress and the potus for instituing real change......as in changing the dollars I had in my 401 into pennies. Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted August 4, 2011 Report Share Posted August 4, 2011 How do you like this change? I don't. Afraid it is only going to get worse. Hopefully enough voters will have their eyes opened. Quote Link to comment Share on other sites More sharing options...
colorado bob Posted August 4, 2011 Report Share Posted August 4, 2011 My better half moved her entire retirement into fixed funds-----2 weeks ago. 7-figures big money in my book. Me---I stayed in the market. I just got back to pre 9/11. Quote Link to comment Share on other sites More sharing options...
texastrophies Posted August 5, 2011 Author Report Share Posted August 5, 2011 I move half my 401 in to fixed last week, wish I would have done all of it now. Left the rest of my stuff alone. Wasn't a pretty day for stocks & mutuals. But I still have 20 years or more likely by the time I get to that age it will be 30 years to go. Quote Link to comment Share on other sites More sharing options...
Ravin R10 man Posted August 5, 2011 Report Share Posted August 5, 2011 All mine is in heaven..multiplying as I type...lol Quote Link to comment Share on other sites More sharing options...
The_Kat Posted August 5, 2011 Report Share Posted August 5, 2011 I wouldn't worry too too much about taking a monster loss. You will get back to where you were before today in a year or two. Now if your set to retire in a year or less....I might fret a little. I have been waiting on this PREDICTED down turn for about 3 months now. Several key advisors on CNBC called for this plunge. It will be a great time to buy in the coming days. Some big stocks were down as much as 15% today! Quote Link to comment Share on other sites More sharing options...
dbHunterNY Posted August 5, 2011 Report Share Posted August 5, 2011 if i wasn't saving for a wedding i'd be dumping money in! when things really tank it's inevitable that they'll go back to a little higher than normal and then right where they were before. Unless you're all in a few particular stocks instead of funds, you'll probably be fine in the long term. Quote Link to comment Share on other sites More sharing options...
Texan_Til_I_Die Posted August 5, 2011 Report Share Posted August 5, 2011 I'm down a small house and a pretty nice car right now. I just can't wait for it to dip below 10,000 which I think is inevitable. Saw Robert Reich this morning on CBS. He was Clinton's Sec of Labor and is a big Obama supporter. He said the odds of a double dip recession happening over the next couple of months was 50/50. I find it amazing, and disturbing, that he would admit to that possibility. To me, that makes it seem like the chances are far worse than 50/50. Quote Link to comment Share on other sites More sharing options...
c_lou Posted August 5, 2011 Report Share Posted August 5, 2011 Time to buy, that's the way I see it. Quote Link to comment Share on other sites More sharing options...
m gardner Posted August 6, 2011 Report Share Posted August 6, 2011 (edited) Austrian economist Ludwig von Mises stated, " There is no means of avoiding a final collapse of a boom brought about by a credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system invloved." Why do we always believe the principles of basic economics don't apply to us? Maybe because we are the most powerful country on earth? Not for much longer with this leadership. Our system runs on debt and our ability to make the payments, which because of the current conditions has become impossible unless we borrow the money. We have a system that pulls in wealth from the future and depends on future growth which isn't happening now. The S&P downgraded us because we didn't show enough budget cuts in the new budget bill (they came up 2 trillion short). The govt. is calling the S&P liars and said their math is different. It is different because the S&P deals in real world facts. The govt. is basing their figures on a predicted savings. A lot like the savings I'll have this year. I'm not going to buy a new home or a car so I'll save $250,000 this year. Great! Obama was very upset when one of his underlings asked if he had studied economics at Harvard and quoted Ludwig von Mises. The president angrily quoted Sylvester Cat saying, "I hate Mises to pieces!" Edited August 6, 2011 by m gardner Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted August 8, 2011 Report Share Posted August 8, 2011 i made my predictions a couple years ago. i see things going down hill for the next year or better. as a former stock broker i sold all my stock years ago, and am glad i did. i think i'd also mentioned i'd be buying gold, which was $340 an ounce. things worked out pretty well so far. as for those ready to invest in the stock market, good luck. in fact, this should be a real interesting week coming up.... we'll see what the world thinks of our credit downgrade and continued big spending. Quote Link to comment Share on other sites More sharing options...
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