Ruh-Roh. Economic MELTDOWN today...
- Thread starter wgadget
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BeFranklin
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Buying when things are going down is usually a bad idea. "Cheap" isn't cheap when it drops another ten points.
once you find a buy in spot and are confident it wont drop any more or very little then it is a great strategy
Ozwest
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About 8 months ago, I consolidated, paying all debts off, whilst sacrificing certain financial advantages I had.
You are leaving it too late to fart-ass around. The longer you wait, the higher penalty you will pay.
Recoup later down the track.
BeFranklin
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I think we are in a bear market. I expect the whole market to drop more. This is just a small drop.
No offense meant, but if you don't know what to do you shouldn't be playing the market. That is a lot of the problem. The market gets filled with all these new dollars b/c people, regular Joes, who 25 years ago would never think about investing now have all these vehicles to invest with (IRAs, 401s, etc.). So the market got inundated with all this new money and it became inflated. And the government was able to keep propping it up by printing more money, so people thought they were "gaining" and kept putting more into it. Well, the Ponzi scheme is coming in for a reality check.
thechitowncubs
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Can anyone explain the drop in gold today, shouldn't this volatility influence people to look into more stable investments?
Are you suggesting that the very recent gains of the dollar are temporary?
I was reading some currency news today and it was suggested that the dollar will continue to gain against the Euro and AUD for 2008. This seems to go against what I thought would happen.
gerryb
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As money comes out of stock markets it has to go somewhere... The first stop is dollars. Where it goes after that is anybodies call (I'm betting hard assets, guns and butter...) But the dollar will gain until people get back out of it.
specialkornflake
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This website provides commentary similar to what I'm hearing here:
http://www.jsmineset.com/
Very enjoyable.
http://www.jsmineset.com/
Very enjoyable.
Not if you realize their economies are tanking too. They are sinking to our level, and it looks like our currency is increasing against theirs -- but in fact their economies and the value of their currency is merely sinking faster than ours are so it looks like we are gaining on them. Our currency already had the effects of the subprime meltdown built in to it, whereas they were hoping they could avoid the effects. Well, it seems they can't, so they are now falling down to our level.
Probably, unless it's invested in a fund that shorts the market or in energy shares.
http://www.jsmineset.com/ - Jim's been predicting this for quite a while. I've posted this link more times than I can remember.
jonahtrainer
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They will probably evaporate. No they are not safe. The only safe place is physical gold in allocated storage. In the current environment it is more important to see the return OF your money not necessarily the return ON your money. Don't let greed overcome fear.
To be safe you need to remove the layers of counter-party risk between you and your assets. That means taking possession of the stock certificates, withdrawing the currency from banks, getting the coins in your hands instead of safety deposit boxes, etc.
The only truly safe place is either coins in your hands or something like GoldMoney. Look at the charts and graphs to see the trends.
Ozwest
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Eight months ago, I made the decision to consolidate. I'm feeling good about that decision, because I sold high.
If you want to farnarckle about, best of luck.
I'm prepared.
OhioMichael
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I have limited options in my 401k so I rolled my money into bond funds just as the market started tanking a month ago. Instead of losing 7%+, I have only lost 2-3%.
I am starting to realize that a 401k might not be a very good deal after all. All three of the bond funds I have to choose from have US cash in the top five investments and I have no options to trade in anything but dollars.
It seems to me that 401k's have been a method to keep our markets artificially high. While it might be good for wall st, it could be a LOOMING DISASTER for most Americans who have all of their savings tied to these funds.
Personally, I am going to open a Roth IRA and chose my investments wisely.
Cash on hand - check
Safe deposit box closed out - check
Water - check
Food - check
Alarm - check, but will become useless
Bars on windows - on TODO list
Arms - don't know how to use them
Solar panel - investigating best way to go
Full tanks of gas with emergency items - check
Family coordinated emergency plans - check
Medicinal-type supplements and medicine - check
First-aid kit - check
Duct tape and plastic - LOL!
Safe deposit box closed out - check
Water - check
Food - check
Alarm - check, but will become useless
Bars on windows - on TODO list
Arms - don't know how to use them
Solar panel - investigating best way to go
Full tanks of gas with emergency items - check
Family coordinated emergency plans - check
Medicinal-type supplements and medicine - check
First-aid kit - check
Duct tape and plastic - LOL!
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