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03-05-2008, 08:13 PM
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#21
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Full time employment: Posting here.
Join Date: Jan 2008
Posts: 798
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Pat and BGF....Two votes for the meltdown senario, I can't say your right or wrong. It is a very gloomy stance and if you are wrong, you'll miss out on some investments. How do you know you are right? Isn't it possible the lower rates will bail out the banks and things will start to turn?
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03-05-2008, 08:16 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Posts: 1,281
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Why am I wishing lately all of my assets were in gold coin buried in my backyard? (I knew I should have listened to the gold bugs!!!)
__________________
Retired 2009!
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03-05-2008, 08:53 PM
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#24
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Full time employment: Posting here.
Join Date: Mar 2005
Location: Northern, Florida
Posts: 925
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Quote:
Originally Posted by RockOn
Pat and BGF....Two votes for the meltdown senario, I can't say your right or wrong. It is a very gloomy stance and if you are wrong, you'll miss out on some investments. How do you know you are right? Isn't it possible the lower rates will bail out the banks and things will start to turn?
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I don't know that I'm right. But people who say the stock market is a great investment and is always going to go up and that there is no inflation, etc., can't know that they're right either. No one has a crystal ball. But I DO know that the Fed is printing money like crazy which is inflating our money supply and I DO know that when other countries have done this in the past it has resulted in runaway inflation and the collapse of their currencies. Yes, it's a gloomy outlook, but there are steps you can take to mitigate the damage.
__________________
Retired in 2006 at age 49.
"Who among us is smart enough to learn from the mistakes of others?" - Voltaire
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03-05-2008, 08:56 PM
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#25
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Moderator
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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It's amazing just how many people KNOW we are facing impending apocalypse.
__________________
"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)
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03-05-2008, 09:02 PM
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#26
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Full time employment: Posting here.
Join Date: Jan 2008
Posts: 798
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Patrick, I hear all the time that they are printing money like crazy but the Adjusted Monetary Base has actually been stable for about a year. It might not be what you think, the FED may actually be doing some deflating behind the scenes to slow things down at the same time they are cutting rates. I'm sure the inflation spurt is scaring the ***t out of them too. If you want a source, I might be able to find something on that.
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03-05-2008, 09:03 PM
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#27
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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The country and stock market are running on Fumes. It will look awful in less than 6 months. 4+ dollar a gallon gasoline, and to think the rest of the world is worried that america will collapse is funny. They DO NOT CARE!! we have brought it on to ourselves. the Opec cartel understands that China and India will pick up the slack that we stop buying. And at this inflated price 100+ a barrel so what if america buys less we still are spending way too much for oil from the likes of Chavez and the saudis.
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03-05-2008, 09:05 PM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by RockOn
Patrick, I hear all the time that they are printing money like crazy but the Adjusted Monetary Base has actually been stable for about a year. It might not be what you think, the FED may actually be doing some deflating behind the scenes to slow things down at the same time they are cutting rates. I'm sure the inflation spurt is scaring the ***t out of them too. If you want a source, I might be able to find something on that.
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That would be very interesting. If you have the time, would you post something?
Thanks.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-05-2008, 09:12 PM
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#29
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by newguy888
And at this inflated price 100+ a barrel so what if america buys less we still are spending way too much for oil from the likes of Chavez and the saudis.
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This Chavez guy is going to be a very big problem for a long time to come. Think a young Fidel Castro, with oil riches.
He is already funding FARC, the Colombian Revolutionary organization. He allows the revolutionaries (thugs) to operate from safe bases along the Venazuelan border. And he has threatened Colombian Presidente Uribe with sending in the Sukhois that he recently bought from the Russians. The Colombians may be our only allies in northern South America, and they are besieged. It could easily spiral out of control.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-05-2008, 10:50 PM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Quote:
Originally Posted by newguy888
The country and stock market are running on Fumes. It will look awful in less than 6 months. 4+ dollar a gallon gasoline, and to think the rest of the world is worried that america will collapse is funny. They DO NOT CARE!! we have brought it on to ourselves. the Opec cartel understands that China and India will pick up the slack that we stop buying. And at this inflated price 100+ a barrel so what if america buys less we still are spending way too much for oil from the likes of Chavez and the saudis.
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The US economy is about the same as China's and India's combined...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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03-05-2008, 11:14 PM
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#32
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Moderator Emeritus
Join Date: Jul 2005
Posts: 2,811
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Don't be too hard on the folks defaulting on their mortgages. They were the ones that keep the economy going by spending every dime they made plus the equity in their homes.
Who is going to keep the economy going now? Well, if the government allows them to get off the hook....they will be back spending again....only not as much.
Sort of like a former employee I had once....he was up to his ears in CC debt and lived paycheck to paycheck. When he got his tax refund he spent it on stuff rather than on reducing his debt. Then he got himself approved for yet another credit card so he could run that one up to the limit too. Bad habits are hard to break.
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Work? I don't have time to work....I'm retired.
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03-05-2008, 11:37 PM
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#33
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Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
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Quote:
Originally Posted by SteveR
Bad habits are hard to break.
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Like saving for instance. The government is now instituting policies to force the prudent out of this vile, unpatriotic practice. Why, saving is nothing more than a form of terrorism actually.
Get out there and spend, Mr. Saver.
Show that you love your country. America needs your profligacy, not your foresight.
(I'm practicing for public office. Gonna run as a Republocrat.)
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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