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The economy, wishful thinking.
Old 05-18-2008, 08:08 AM   #1
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The economy, wishful thinking.

Summer may bring a turning point for stock market: Financial News - Yahoo! Finance

Most people I know have cut way back on spending except for gasoline to get to work.

But then again everyone I know is going to spend every last cent of that stimulus check.

I know I am. Airline tickets 1,197 for our trip. check 1,200. I get 3 dollars left for 1/2 a beer at the airport!
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Old 05-18-2008, 08:25 AM   #2
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Most people I know haven't really changed much at all, maybe driving a little less, but not appreciably. I hope the article is right, but the truth is no one knows...
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Old 05-18-2008, 08:43 AM   #3
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I sure don't know, but I do have an irrational faith that in the long run, over the next several decades the market will trend upwards.
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Old 05-18-2008, 10:54 AM   #4
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The article could have been the short version. The market always goes up after it is down, the market always goes down after it is up.

Predicting the periodicity and deviation from the mean is a bit tricky.
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Old 05-18-2008, 11:19 AM   #5
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Originally Posted by newguy888 View Post
Summer may bring a turning point for stock market: Financial News - Yahoo! Finance

Most people I know have cut way back on spending except for gasoline to get to work.

But then again everyone I know is going to spend every last cent of that stimulus check.

I know I am. Airline tickets 1,197 for our trip. check 1,200. I get 3 dollars left for 1/2 a beer at the airport!
You might need to go back to work full time
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Old 05-18-2008, 12:25 PM   #6
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Jeremy Grantham's view:

reportonbusiness.com: Warning to equity investors: ‘Watch your tail'

I think the correct answer is: nobody knows.
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Old 05-18-2008, 01:00 PM   #7
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Definitely going down in real terms, adjusting for inflation and the decline in the greenback. Recession started Nov07 but has been masked by those two factors.

And then there is the "sell in May and go away" mantra.
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Old 05-18-2008, 01:25 PM   #8
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Quote:
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Most people I know have cut way back on spending except for gasoline to get to work.
Count me as an exception........ Enjoyed live music, dinner out, etc. both Fri and Sat nights. Leaving for "up nort" in a couple of weeks. Good times and the memories they create can't be taken away......

Gasoline to go to w*rk? What's w*rk?

Sky high energy prices, increasing food prices and all the nasty things resulting from the depletion of natural resources and an overcrowded world should be planned into your retirement budget. Don't be the fool that's surprised by these events or the world's inability to plan for and cope with them.
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Old 05-18-2008, 02:05 PM   #9
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Count me as an exception........ Enjoyed live music, dinner out, etc. both Fri and Sat nights. Leaving for "up nort" in a couple of weeks. Good times and the memories they create can't be taken away......
Oh me too! I am spending more than ever (and still LBYM'ing). I just spent $160 to extend my gym membership, and $100 on more comfy gym clothes this weekend. And this was within my budget. But on top of that, I have a $600 stimulus check that is burning a hole in my pocket!

I went ahead and got gas today, even though I still had half a tank, because I figured the price isn't going down any time soon! I might save by buying it now.

Who knows? at this rate I may personally stimulate the economy enough to bring it out of the recent slowdown, all by myself.
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Old 05-18-2008, 02:11 PM   #10
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FWIW, I think the recession started in December. But I have not exactly slowed my spending, since we bought a camper and had the yard extensively landscaped since then. Can't say I think its worth getting worked up into a lather over, since the feddle gummint has already done what needs to be done and we will see a rebound soon (next 6 to12 months). In the context of a multi-decade retirement, its probably not even a speed bump.
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