[quote comment="42372"][quote comment="42371"]We lost $3,500.00, dollar’s.but 45 thou, ouch,get the rest out of whatever it’s in quick! :w00t:[/quote]
It’s too late for that. I have to leave it in and wait for it to go back up. It will. I have no doubt. It’s partly due to the people who are panic selling like that, causing the downfall. Yes, I know there are other reasons, but people are definitely panic selling. You have to just ride it out. If I bail now, I’ve DEFINITELY lost $45,000. If I wait it out… yes, it will go down further – probably scary further – but it will eventually go back up and I’ll get some, if not all, of it back.[/quote]
I am sure you are right Joyce, that is best with that much money at stake. I hope the value returns soon.:smile:
[quote comment="42371"]We lost $3,500.00, dollar’s.but 45 thou, ouch,get the rest out of whatever it’s in quick! :w00t:[/quote]
It’s too late for that. I have to leave it in and wait for it to go back up. It will. I have no doubt. It’s partly due to the people who are panic selling like that, causing the downfall. Yes, I know there are other reasons, but people are definitely panic selling. You have to just ride it out. If I bail now, I’ve DEFINITELY lost $45,000. If I wait it out… yes, it will go down further – probably scary further – but it will eventually go back up and I’ll get some, if not all, of it back.
Holy crap. It dropped 678.91 today. I have an IRA which was rolled over from a retirement lump-sum payout when I left my former employer, a large insurance company. Anyway, since Dec, 2007 (as of yesterday, because I don’t have the figures yet for today) I have lost $45,000. Again I say – Holy crap.
[quote comment="41945"][quote comment="41929"]Go to last week and listen to John McCain…”The fundamentals of the economy are strong.”[/quote]
I gave a resounding snort of derision as soon as I heard that. My apologies if I hurt any feelings with this opinion but I think all McCain supporters should ask themselves if they want another four years of Bushology in the White House. The man doesn’t know anything about economics except how to line hiw own deep pockets and stroke his wealthiest friends.[/quote]
You would never hurt my feelings with an opinion. I may not agree with it, (and I don’t) but I respect it always.
[quote comment="41929"]Go to last week and listen to John McCain…”The fundamentals of the economy are strong.”[/quote]
I gave a resounding snort of derision as soon as I heard that. My apologies if I hurt any feelings with this opinion but I think all McCain supporters should ask themselves if they want another four years of Bushology in the White House. The man doesn’t know anything about economics except how to line hiw own deep pockets and stroke his wealthiest friends.
I recently sent out invitations to the We Organization, who are trying to make the USA energy-independent and environmentally friendly. I inadvertently sent it to a friend who is as staunch a Republican neocon as W himself. His extremely terse reply was, “Global warming is the biggest hoax of the Twentieth century.
Today I am saying, “Wall Street is the biggest hoax of the Twenty-first century and the Bush regime are guilty as hell.”
[quote comment="41930"]The one thing I am sure of is looking back, now, isn’t going to do a damn thing. Fix it now, jail those responsible later.[/quote]
That’s the rub – exactly WHO is responsible?
For you Democrats – do you want the former Chairman of the failed Goldman-Sachs handing money out to Wall Street?
For you Republicans – do you want the Chairman of the Financial Services Committee – the genesis of this whole crisis dumping more money down the subprime rathole?
For you free-marketeers – do you want the CEO’s of the same firms that bundled together shaky securities & sold them during the last expansion laughing at you while they cash their bonus checks?
Trust me on this…there is plenty of blame to go around and it isn’t going to help anyone to focus on that rather than focus on what to do. Maybe CB is right and we all should hang together. Maybe Rachel is right and we should cut taxes. Maybe I am right and we should bring our money and troops home, raise the minimum wage, remember how to produce our own stuff, not worry about having the biggest one in the world, and let the world worry about it’s own wars for a period. Maybe Bush is right and we should go shopping…
The one thing I am sure of is looking back, now, isn’t going to do a damn thing. Fix it now, jail those responsible later.
I distrust the government – Democrats, Republicans, Whigs, whoever. They started this mess 15+ years ago when they forced (under the threat of fines) banks to lend money to people who couldn’t afford to pay it back when rates rose or values dipped. The b*st*rds on both side of the aisle now won’t even admit they caused the problem. Why in the name of all that’s holy did anyone expect the housing bubble to last for forever is beyond me. It’s cyclical – always has been, always will be. Rather than enforcing good banking practices our imperious leaders were under the mistaken impression that everybody has some God-given right to own a piece of property. That’s a bunch of bs. Now the chickens have come home to roost and the financial institutions have billions in bad paper. Let Wall Street burn. It has to correct itself. No amount of governmental intrusion can stop that, no matter how painful it will be in individual cases. There is no way left to kick start the economy. Interest rates are already at 2% – there’s no room. The economy has to contract. People are going to lose houses and jobs & no amount of paper money is going to fix that problem. If they do, we’ll end up in a hyper inflationary spiral that’ll make the Carter years seem fiscally responsible.
Blame it on Iraq, the Republicans, Democrats, robber-barons or what ever group lets you feel all warm & fuzzy and allows you to sleep at night. It doesn’t matter. The House has decided that this is such a crisis they’re going to take 2 days off to go campaigning. THAT’S their only concern. The conservatives in Congress have it right – maybe by design, maybe by dumb luck (I vote for the latter). We’ll see if they have the testicular fortitude to stand fast or if some pet projects get buried in the bailout bill & they crumble like the rest of the idiots. Leadership – Bah – a pox on both their houses.
[quote comment="41905"][quote comment="41900"]Oh and wait it can get worse. Vote McCain and feel the pain.[/quote]
How do you figure that?
Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.
Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.
In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama’s doubling of the tax rates next year.
Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.
He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.
Obama believes in redistribution of wealth, and it will affect EVERYONE.
I’m really not too keen on Socialism.[/quote]
Failed policies? High cap gains taxes didn’t get us where we are today. Admittedly Bush did expand Government more than any President in 40 years with a lot worse results than LBJ had and subverted the constitution as well but that is not Obama’s fault.
I take it you were against the government bailing out AIG et. al.? I admit I am not a big fan of corporate welfare myself. However we are seeing, again, that trickle down does not work, it makes the rich richer and the rest of us stagnant or slipping backwards.
I can’t say I am a socialist but I am a communitarian. It does take a village to raise a child – I sure wouldn’t be here without that. Rugged individualism is great when you live 15 miles from the nearest farm but it doesn’t work in cities, suburbs or exurbs. If you see my kid playing in traffic I expect you to do something not tell me what a bad parent I was after she is dead. I am sure you would want me to do the same.
I expect the government to pay for educating every child in the community and making sure that no one starves to death. I expect us all to accept the responsibility that no one sleeps on the streets and that all of us can get medical care. If that means we can’t afford to police Iraq, so be it. I am tired of the policies that have allowed the Chinese (Communists may I add) to own our rear ends (and every other part of our bodies).
Ideally we would throw them all out but that won’t happen, so I have no problem with an attempt to change course.
[quote comment="41900"]Oh and wait it can get worse. Vote McCain and feel the pain.[/quote]
How do you figure that?
Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.
Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.
In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama’s doubling of the tax rates next year.
Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.
He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.
Obama believes in redistribution of wealth, and it will affect EVERYONE.
I’m really not too keen on Socialism.
[quote comment="42372"][quote comment="42371"]We lost $3,500.00, dollar’s.but 45 thou, ouch,get the rest out of whatever it’s in quick! :w00t:[/quote]
It’s too late for that. I have to leave it in and wait for it to go back up. It will. I have no doubt. It’s partly due to the people who are panic selling like that, causing the downfall. Yes, I know there are other reasons, but people are definitely panic selling. You have to just ride it out. If I bail now, I’ve DEFINITELY lost $45,000. If I wait it out… yes, it will go down further – probably scary further – but it will eventually go back up and I’ll get some, if not all, of it back.[/quote]
I am sure you are right Joyce, that is best with that much money at stake. I hope the value returns soon.:smile:
[quote comment="42371"]We lost $3,500.00, dollar’s.but 45 thou, ouch,get the rest out of whatever it’s in quick! :w00t:[/quote]
It’s too late for that. I have to leave it in and wait for it to go back up. It will. I have no doubt. It’s partly due to the people who are panic selling like that, causing the downfall. Yes, I know there are other reasons, but people are definitely panic selling. You have to just ride it out. If I bail now, I’ve DEFINITELY lost $45,000. If I wait it out… yes, it will go down further – probably scary further – but it will eventually go back up and I’ll get some, if not all, of it back.
We lost $3,500.00, dollar’s.but 45 thou, ouch,get the rest out of whatever it’s in quick! :w00t:
Holy crap. It dropped 678.91 today. I have an IRA which was rolled over from a retirement lump-sum payout when I left my former employer, a large insurance company. Anyway, since Dec, 2007 (as of yesterday, because I don’t have the figures yet for today) I have lost $45,000. Again I say – Holy crap.
[quote comment="42053"]Interesting post-mortem in the WSJ
http://online.wsj.com/article/SB122290574391296381.html/quote
Thanks , CB.
We in Massachusetts are so proud of our Barney Frank. :angry:
I lied…
Interesting post-mortem in the WSJ
http://online.wsj.com/article/SB122290574391296381.html
[quote comment="41945"][quote comment="41929"]Go to last week and listen to John McCain…”The fundamentals of the economy are strong.”[/quote]
I gave a resounding snort of derision as soon as I heard that. My apologies if I hurt any feelings with this opinion but I think all McCain supporters should ask themselves if they want another four years of Bushology in the White House. The man doesn’t know anything about economics except how to line hiw own deep pockets and stroke his wealthiest friends.[/quote]
You would never hurt my feelings with an opinion. I may not agree with it, (and I don’t) but I respect it always.
[quote comment="41912"]Well all I know is I lost $8,000 in ONE day. On paper, anyway.[/quote]
Got $4,000 of it back today, but I’m still way down overall. Bummer.
[quote comment="41929"]Go to last week and listen to John McCain…”The fundamentals of the economy are strong.”[/quote]
I gave a resounding snort of derision as soon as I heard that. My apologies if I hurt any feelings with this opinion but I think all McCain supporters should ask themselves if they want another four years of Bushology in the White House. The man doesn’t know anything about economics except how to line hiw own deep pockets and stroke his wealthiest friends.
I recently sent out invitations to the We Organization, who are trying to make the USA energy-independent and environmentally friendly. I inadvertently sent it to a friend who is as staunch a Republican neocon as W himself. His extremely terse reply was, “Global warming is the biggest hoax of the Twentieth century.
Today I am saying, “Wall Street is the biggest hoax of the Twenty-first century and the Bush regime are guilty as hell.”
[quote comment="41930"]The one thing I am sure of is looking back, now, isn’t going to do a damn thing. Fix it now, jail those responsible later.[/quote]
That’s the rub – exactly WHO is responsible?
For you Democrats – do you want the former Chairman of the failed Goldman-Sachs handing money out to Wall Street?
For you Republicans – do you want the Chairman of the Financial Services Committee – the genesis of this whole crisis dumping more money down the subprime rathole?
For you free-marketeers – do you want the CEO’s of the same firms that bundled together shaky securities & sold them during the last expansion laughing at you while they cash their bonus checks?
Let it burn.
Trust me on this…there is plenty of blame to go around and it isn’t going to help anyone to focus on that rather than focus on what to do. Maybe CB is right and we all should hang together. Maybe Rachel is right and we should cut taxes. Maybe I am right and we should bring our money and troops home, raise the minimum wage, remember how to produce our own stuff, not worry about having the biggest one in the world, and let the world worry about it’s own wars for a period. Maybe Bush is right and we should go shopping…
The one thing I am sure of is looking back, now, isn’t going to do a damn thing. Fix it now, jail those responsible later.
Go to last week and listen to John McCain…”The fundamentals of the economy are strong.”
Go to You Tube and liten to Barney Frank.
Barney Frank 2003 ” Fannie and Freddie not in crisis.”
http://www.youtube.com/watch?v=JuXMXmqSHnc
I distrust the government – Democrats, Republicans, Whigs, whoever. They started this mess 15+ years ago when they forced (under the threat of fines) banks to lend money to people who couldn’t afford to pay it back when rates rose or values dipped. The b*st*rds on both side of the aisle now won’t even admit they caused the problem. Why in the name of all that’s holy did anyone expect the housing bubble to last for forever is beyond me. It’s cyclical – always has been, always will be. Rather than enforcing good banking practices our imperious leaders were under the mistaken impression that everybody has some God-given right to own a piece of property. That’s a bunch of bs. Now the chickens have come home to roost and the financial institutions have billions in bad paper. Let Wall Street burn. It has to correct itself. No amount of governmental intrusion can stop that, no matter how painful it will be in individual cases. There is no way left to kick start the economy. Interest rates are already at 2% – there’s no room. The economy has to contract. People are going to lose houses and jobs & no amount of paper money is going to fix that problem. If they do, we’ll end up in a hyper inflationary spiral that’ll make the Carter years seem fiscally responsible.
Blame it on Iraq, the Republicans, Democrats, robber-barons or what ever group lets you feel all warm & fuzzy and allows you to sleep at night. It doesn’t matter. The House has decided that this is such a crisis they’re going to take 2 days off to go campaigning. THAT’S their only concern. The conservatives in Congress have it right – maybe by design, maybe by dumb luck (I vote for the latter). We’ll see if they have the testicular fortitude to stand fast or if some pet projects get buried in the bailout bill & they crumble like the rest of the idiots. Leadership – Bah – a pox on both their houses.
Well all I know is I lost $8,000 in ONE day. On paper, anyway.
[quote comment="41905"][quote comment="41900"]Oh and wait it can get worse. Vote McCain and feel the pain.[/quote]
How do you figure that?
Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.
Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.
In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama’s doubling of the tax rates next year.
Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.
He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.
Obama believes in redistribution of wealth, and it will affect EVERYONE.
I’m really not too keen on Socialism.[/quote]
Failed policies? High cap gains taxes didn’t get us where we are today. Admittedly Bush did expand Government more than any President in 40 years with a lot worse results than LBJ had and subverted the constitution as well but that is not Obama’s fault.
I take it you were against the government bailing out AIG et. al.? I admit I am not a big fan of corporate welfare myself. However we are seeing, again, that trickle down does not work, it makes the rich richer and the rest of us stagnant or slipping backwards.
I can’t say I am a socialist but I am a communitarian. It does take a village to raise a child – I sure wouldn’t be here without that. Rugged individualism is great when you live 15 miles from the nearest farm but it doesn’t work in cities, suburbs or exurbs. If you see my kid playing in traffic I expect you to do something not tell me what a bad parent I was after she is dead. I am sure you would want me to do the same.
I expect the government to pay for educating every child in the community and making sure that no one starves to death. I expect us all to accept the responsibility that no one sleeps on the streets and that all of us can get medical care. If that means we can’t afford to police Iraq, so be it. I am tired of the policies that have allowed the Chinese (Communists may I add) to own our rear ends (and every other part of our bodies).
Ideally we would throw them all out but that won’t happen, so I have no problem with an attempt to change course.
[quote comment="41900"]Oh and wait it can get worse. Vote McCain and feel the pain.[/quote]
How do you figure that?
Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.
Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.
In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama’s doubling of the tax rates next year.
Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.
He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.
Obama believes in redistribution of wealth, and it will affect EVERYONE.
I’m really not too keen on Socialism.
McCain certainly won’t make it worse. It will take a lot of hard work by whomever is voted into office to help our country.
That’s all I’ll say.
Well, I sure am disappointed that Mr Bush wasn’t able to privatize Social Security. That would have been the icing on the cake.
Oh and wait it can get worse. Vote McCain and feel the pain.
Well, hopefully, this will force them to come up with a better plan.