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  • bobbobwhite bobbobwhite Dec 4, 2008 4:29 PM Flag

    20% divvie doesn't help my 50% drop

    The main thing people don't realize now is that after all the economic house of cards building and tearing down done by our gov't and Wall Street over hundreds of years, the end result will be that someday, perhaps soon, a depression recovery will not happen. It will be catastrophic and our society will not survive as it is now. Yes, all the recessions and depressions of the past have more or less recovered, but all the while they were building up to one of total systemic collapse, and I am now more doubtful of the continued safety and security of American middle class prosperity than at any other time in my life of 67 years.

    Wall Street for all but the upper class is finished as we knew it, as much of the American investment community of the emerging middle class since WWII are leaving or have left. Many of these previous new "investors" will never return to the stock market now that they have learned once and for all time that it is a casino only for the very rich upper class which enables it to take what little it doesn't already have from all the "little people" who unrealistically thought that they could improve their life position by "investing" in the market.

    If global warming doesn't get us all first. Aren't we a species to be proud of?

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    • aw, come on bob, it isn't that bad. you have just capitulated...thrown up your hands and professed defeat.

      do you think this scenario hasn't played out many, many times before? each time.."this is the BIG ONE"..we aren't every gonna recover, and yet we do.

      i do not doubt there will be changes, some probably substantial, but that is part of growing.

      hopefully you have some dry powder if you are an investor and can take advantage of this situation. for the foreseeable time i recommend short term trades...get in get out deals. I am seeing an opportunity coming in BTE at hand.

      all IMHO. good luck

      • 2 Replies to ch4_tycoon
      • I think what Bob is getting at is the domination of the market by the "Big Money" which whipsaws the small investor until he/she can't take the roller coaster. I agree with Bob. This isn't investing anymore. This is like being at a Vegas craps table. Fundamentals? Don't mean a damn thing to share price. Technicals? Largely irrelevant to the "fast money" types. Buy n hold? Largely impossible to use now that the con artists and whores are running things.


      • to many scandals following on from one another I think trust will never fully recover. Bankers corrupt President corrupt Aig corrupt Brokers corrupt does anyone really believe it will get any better or people faith in the system will recover. Paulson when he was with GS looked for leverage up to 40 times God help us. Bush used war in Iraq to enrich his friends (Haliburton)it will take a miracle for OLbama to fix the damage.

    • Bob, if you're 67, then you saw the huge market drop in 1962, 1970, 1974, 1981 thru 1982, 1984, the crash in 1987, oil falling to under $10 in 1998 and oil stocks not rebounding until late 1999, then the market dropped again in 2000 and now 2008. Each time the market has recovered. This time round, legislation from the republican controlled congress in year 2000, gave banks the ability to privately trade, unregulated by the S.E.C., credit default swap derivatives, creating over $65 Trillion worth, that in 2008 collapsed. Thus down the road, it may take a barrel full of dollars to buy a loaf of bread, yet oil and gas will still be in demand. Thus investment dollars are still good in energy, at least mine are. Have a nice day.

5.16+0.47(+10.02%)Aug 28 4:01 PMEDT