Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Time to Acknowledge the Doom & Gloomers?
Old 10-23-2008, 11:06 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,196
Time to Acknowledge the Doom & Gloomers?

Do we need to take a moment to acknowledge the doom and gloomers who we generally ridiculed over the last year or two?

For example, this post from NewGuy88 last March:

I know I know doom and gloom newguy, But things really are about to hit the fan in a big ugly way.
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-23-2008, 11:08 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by TromboneAl View Post
Do we need to take a moment to acknowledge the doom and gloomers who we generally ridiculed over the last year or two?

For example, this post from NewGuy88 last March:

I know I know doom and gloom newguy, But things really are about to hit the fan in a big ugly way.
I am not sure he was referring to the market or the Presidential election..........
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 10-23-2008, 11:08 AM   #3
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Quote:
Originally Posted by TromboneAl View Post
Do we need to take a moment to acknowledge the doom and gloomers who we generally ridiculed over the last year or two?
No.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 10-23-2008, 11:10 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
Yeah, that's it. Let's all throw in the towels. The sooner, the better. Isn't that called capitulation?

Then, next week we can all buy back our stocks, and live happily, well not forever, but till the end of our life. I am in.
__________________
NW-Bound is offline   Reply With Quote
Old 10-23-2008, 11:11 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Even a broken clock...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 10-23-2008, 11:24 AM   #6
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
I think it's a matter of degree. They seemed to act as if something worse than the 1930s was coming, and we're far, far away from that, even if it doesn't feel like that now.

As I've said in those threads before, every time they predict financial apocalypse they could be right, but the track record of such doomsayer is rather terrible. Pitchers in baseball tend to be terrible hitters, but that doesn't mean they won't get a hit once in a while...
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 10-23-2008, 11:27 AM   #7
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,372
I do remember a lot of worried posts over the past three years being responded to with something like, "people always think 'this time it's different' but we've been through this before, and it's not different." I have to say I think this time it is different.
__________________
Bestwifeever is offline   Reply With Quote
Old 10-23-2008, 11:31 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
Seriously, I believe we will recover, but it may take a bit longer than past recessions. Nothing like the Great Depression, I don't think.
__________________
NW-Bound is offline   Reply With Quote
Old 10-23-2008, 11:41 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by HFWR View Post
Even a broken clock...
Exactly.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 10-23-2008, 11:51 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Quote:
Originally Posted by NW-Bound View Post
Yeah, that's it. Let's all throw in the towels.
actually, i would like to take a towel, dampen it, twirl it between my hands and THWACK the derrieres of those panicking...i'm in for the long haul!
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 10-23-2008, 11:54 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by freebird5825 View Post
actually, i would like to take a towel, dampen it, twirl it between my hands and THWACK the derrieres of those panicking...i'm in for the long haul!

If ENOUGH folks panic, we'll have capitulation, and then we can get back to the business at hand........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 10-23-2008, 11:56 AM   #12
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,372
It's a little late to panic imho
__________________
Bestwifeever is offline   Reply With Quote
Old 10-23-2008, 11:57 AM   #13
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 1,760
Well, one could acknowledge the gloom and doomers, but what's the point? There are always those who feel we're teetering off the edge -- why encourage them?

-- Rita
__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Old 10-23-2008, 11:58 AM   #14
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by Gotadimple View Post
Well, one could acknowledge the gloom and doomers, but what's the point? There are always those who feel we're teetering off the edge -- why encourage them?
Not only that, but if they've predicted the End of the World™ ten times before and were wrong, are they suddenly geniuses because they were right on the 11th try?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 10-23-2008, 12:02 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by freebird5825 View Post
actually, i would like to take a towel, dampen it, twirl it between my hands and THWACK the derrieres of those panicking...i'm in for the long haul!
I'm right there with ya girl! Let's get to thwackin'!
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 10-23-2008, 01:26 PM   #16
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by TromboneAl View Post
Do we need to take a moment to acknowledge the doom and gloomers who we generally ridiculed over the last year or two?
He earned every bit of ridicule he got, and he worked really hard for it too. In his breathless notoriety dubious distinction we should rename it the "Newguy Soapbox and Headline News".

I'll acknowledge the doom & gloomers as much as I'll acknowledge the Pollyannas or the conspiracy theorists or the one-asset investors or any of the other one-note wonders that frequent this board...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 10-23-2008, 01:29 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,196
On a related note: Did the inverted yield curves in 2007 predict this recession?
__________________
Al
TromboneAl is offline   Reply With Quote
Old 10-23-2008, 01:37 PM   #18
Recycles dryer sheets
 
Join Date: Mar 2008
Posts: 223
I've watched both ER forums and Doom and gloom forums, for the last 5 years. I have to say, the doomers seem to have pegged this one. I listen more to the doomers now. This forum seems to think way tooooo optimistic. Happy investing!
__________________
DAYDREAMER is offline   Reply With Quote
Old 10-23-2008, 01:41 PM   #19
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,032
Funny, yesterday I was wondering what happened to Newguy...

I will acknowledge the doom and gloomers.

A good friend of mine has been consistently bearish since 2004. He lost lots of money in 2004, 2005, 2006 and 2007 investing in a Rydex double inverse fund. Now he is calling me to gloat. Never mind the fact that my portfolio kept going up and up from 2004 to 2007 and that, looking at returns since 2004, my portfolio still probably kicks his portfolio's a$$ hands down... but I will give him that: he was right, the pooh has finally hit the fan (as it usually does once a decade).
__________________
FIREd is offline   Reply With Quote
Old 10-23-2008, 01:47 PM   #20
Thinks s/he gets paid by the post
Rustward's Avatar
 
Join Date: Apr 2006
Posts: 1,572
I first saw this very late in 2007 or early 2008. Brian Beaulieu pretty much called it in this September 3, 2006 taping. It is a 30 minute video in three parts.
The Foundation for Responsible Television
__________________

__________________
Rustward is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Doom + Gloomers: What are you doing to prepare? CompoundInterestFan FIRE and Money 137 08-05-2008 05:57 PM
St Martin -- Great Beaches, Fantastic Food, & Good Time chinaco Travel Information 3 05-25-2008 10:07 AM
full-time employment & business on the side SingleMomDreamer FIRE and Money 8 11-04-2007 08:29 AM
ER & Gloom and Doom forecasts heyyou FIRE and Money 37 10-23-2006 03:53 PM
Doom and Gloom Helen FIRE and Money 75 02-14-2006 11:24 PM

 

 
All times are GMT -6. The time now is 07:00 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.