How many people are sorry they voted for this idiot. I didn't vote for this goof ball. (all he is political hack from chicago). Now he is challenging lobbyist. Is this a joke or what. How many lobbyists have been appointed in his cabinet as second in command and so forth. Open up your wallets people the cost of govenment is going through the roof which means less money to spend and less job. People have to wake up and take control of their own lives and not depend on these politicians that would screw up a one car funeral. We are in deeeeeeeeep doggy due due.
We agree, mostly -
<<I won't be surprised if we see DOW 5800.>>
I wouldn't be surprised at 5300 or 5000.....Personally, I'd love it to hit 4000 or 3000....I's be able to buy more.....
<<I know many recent retirees who's nest eggs have been decimated (an additional 30+% since election day)>>
If you're retired AND taken a 30% haircut on your retirement savings: Shame on you! You're either (a) too greedy - you're overweight in equities hoping to compound your gains.... bad move or (b) received some bad... really bad advice.
My folks are in their 80's. A while ago (maybe 25-30 years ago) they insuranced up, so now, their healthcare is fine. Their nestegg? It MADE 5% last year. Why? They have all their money in CDs, and have had it that way for about 10 years now. They've been retired since 1990. My point is that people, if they are indeed taking personal responsibility have to assess the risks. You don't just go to vegas, bet black and when it comes up red you start crying. That's what I liken retirees in the stock market to. Sorry, you're playing a dangerous game.
Look at what I post on every option trade post: Options are not for everyone. Don't do it unless you are prepared to lose money bigtime.
By the way, I still have the 32.50 July calls for WAG- down about 95%. Looks like that one might be a total loss. But, oh well..I played, I lost. Life goes on. No one bailling me out too, right?
Thats exactly right. Slick willie's boys put pressure and mandated a bank make a percentage of loans to people who could not afford a house including illegals. The republicans tried to get laws in place to stop the practice. I so no problem letting the banks file chapter 13 and people losing houses they can't afford. That will give people like myself, who paid my mortgages off early a chance to buy property cheap. I think its better to let the banks file BK and the others lose the house instead of spending a trillion bucks causing hyper inflation and a currency collasp.
Actually, I am more libertarian than democrat.
This is what is aggravating about BOTH the republicans and democrats. They are both hypocritical.
Republicans put a wonderful face on it - telling people they want to help the working class, but they really stick it to the working class. Case in point - I voted against Bush in 2000, I think (I live in FL), almost exclusively becuase he campained to take the surplus and "return it to the people. It's your money," he said at the time. Sure enough, he won, and I got my check for $600. Big deal. Now, we have a trillion dollar defecit. Does any republican want to tax the public to get the money back? no. of course not - they leave that to the democrats.
Democrats - they say they are for the little guy and against the big businesses that "ship jobs over seas." oh puhlease. Until a big business wants to come to your town - and then the dems roll over and offer all kinds of tax credits, essentially allowing the company to operate tax free in the town. Here in Florida, we have a water shortage. Amazingly, a local city entertained relocating a water bottling company, which would have taken a huge amount of water in order to bottle just one bottle. Crazy huh? Stupid - definitely.
That's why when it comes to the economy, the guy that really makes alot of sense is Ron Paul. He's a nut that would cause a depression with his "let it totally collapse" theories, but there's a lot of truth in what he says.
So, as an investor on the investor board, the only thing you can do is recognize the macro patterns. In 2000, I did just that, so by 2002, I checked out of big business, and invested in education, since I saw a long amount of pain coming. I missed that 02-06 run up, but Taiguy will tell you about job security and pharmacists. 4 years later, I was right. I'm not a pharmacist, if you're wondering.
Now, I see defecit spending out the wazoo, so you have to wonder what's going to happen? What happens when you run up your credit card? You either can't spend for long time, have to get more income or you default. There are no other choices. So Obama and his guys are trying to create more income by taxing the rich guys. We'll see if it works. I hope it will, but I doubt it. In the end, the answer for me is self reliance. I don't believe in the nanny state. I monitor my 401(k) so that it only went down 15% last year, and my other investments, as well. That's the absolute truth. Others will tell you I am truthful about wins AND losses on this board.
It really makes me laugh when I see commercials with older people saying their investment went "poof". Really? "poof"? That's because the old investor didn't allocate it properly or reallocate it when the time came, or because they were greedy and were reaching for returns they had no business reaching for at their age!
So to bring it all back - my opinion is that we should invest where the macro trends lead us. I'm piling money into healthcare Buy and hold is dead, though. Unless you have a managed fund. Then the professionals buy and selll for you. You cannot buy and hold a single stock. My opinion.
I didn't vote for that con artist. Here are a few questions I'd like answered. How did a community organizer go from that to senator and a multi million dollar house in 2 years. How did his wife get an appointment to a 300k job. Isn't that what blogo was trying to get for his wife? He's just like the others a con artist liar. He reminds me of ronald raygun. He said he wouldn't cut social security ..and I guess he didn't he just raised the age so more would be dead befoe they can collect it. No hussein is smart he's not going to raise INCOME tax on people making less than 250k. But his is transportation secretary la hood wants to put GPS on every car and charge you a carbon tax., Why the GPS just add the tax on the gas so people with economical cars pay less than gas guzzlers. Then there is the cap and trade for CO2 emmissions they think could be worth almost a trillion...does anyone realize the cost of those carbon credits will just get passed on to the consumers. But gee those arn't income taxes now are they. Obama is suffering from delusions of grandure. He thinks he can spend a trillion and nothing bad will happen like hyper inflation and currency collapse. He lives in fantacyland. Listen carefully he speaks like raygun its not what he says but what he doesn't say
Going back to your question about low income people going into homes that they could not afford. Honestly, I was not aware of it until the last year. This pisses me off that politicians twisted the law to get these individuals in home they couldn't afford they should have been in apartments until they met requirements that were established. Also the govenment taking care of select cronies. As I said before there is plenty of blame to go around. But watch those hearing if you dare.
I wasn't moaning then. They took a chance and lost. Let them eat it. Just like myself who has taken the chance in the stock market.
Question: Watched a CNN interview with a congress woman from the great bankrupt state of California who has taken care of everyone legals and illegals alike. This is what is going to happen to the rest of the country. Getting back to the question: This congress woman owned 6 homes, according to interviewer. She asked her about her 6 homes and stated that 3 were in foreclosure and another was heading that way. She asked her if she would benefit from this bail out and she said it wasn't any of her business. She should eat those loses and I don't believe that taxpayer should help her with her risk. But you know she will.
First of all I'm not putting a spin on anything. I figured you were pretty informed. But why would you not look at those hearings and comment on them?
Because you won't. I couldn't believe either until I saw it. Also, I don't believe that Bush was perfect either. But I don't think you will.
Oh please. You're jumping on the current President after only 5 weeks in office. 5 weeks!
I know my facts, so please don't try to spin me. Let's just agree to disagree. I believe GW Bush was, hands down, the worst US President in the history of the United States, with the possible exception of William Henry Harrison, who did nothing while in office. Why? Because he died about 4 weeks after taking the oath - 32 days to be exact.
Here's President Bush boasting about the home ownership rate under his tutelage:
Where were you in 2002? Were you moaning about how taxpayer dollars were going to get low income people INTO these McMansions that they could not afford? Or the dreaded home-flipper? No more "Flip that House" or "Property Ladder" on HGTV.