: Sitting here watching dow down 307 pts.



cbloveday
01-17-08, 05:37 PM
I sure hope the mkt recovers before the v is in production.
Else this:
http://i183.photobucket.com/albums/x99/cbloveday_bucket/male_cat1.gif

HITMONEY
01-17-08, 07:15 PM
Glad I pulled out of the market 2 years ago.

Gold has been VERY good to me.

dwight.j.carter
01-17-08, 09:17 PM
Oil companies are causing it every time the price of oil goes up the stock market plunges. The fed can keep lowering the rate but it won't help until we get away from our dependence on the oil companies.

Brett
01-17-08, 09:32 PM
Oil is down 10% from its highs. Consumer spending is key. The housing ATM is over and the whole economy is going with it. The fed will continue to lower rates unitl the dollar is worth about a peso. the US is functionally Bankrupt yet nobody seems to care.

dkozloski
01-17-08, 09:53 PM
The best part of having a staggering foreign debt is that, ultimately, you can do just like all the stinky little countries have done to us and repudiate it.

Brett
01-17-08, 10:04 PM
MAD Mutually Assured Destruction....lots of countries are pretty pissed right now that they own so many dollars

HITMONEY
01-17-08, 10:10 PM
Oil is down 10% from its highs. Consumer spending is key. The housing ATM is over and the whole economy is going with it. The fed will continue to lower rates unitl the dollar is worth about a peso. the US is functionally Bankrupt yet nobody seems to care.


The US is for sale and Asia and the middle east are buying it up at pennies on the dollar.... ie Morgan Stanley, citi Group

They don't have a choice but to sell their debt and stock to them but as I heard it, it is like the farmer selling his cows to buy milk.

Years of overspending by the US populous has led to this, if it weren't such a world economy we would have been in recession long ago, but even that buffer can't stop the slide now. The writing was on the wall years ago, but greed kept things going ie mortgage programs literaly invented for, a then lucrative, sub-prime market.

In short, we are screwed for a few years. Thankfuly there are ways to make money in a bear market as well.

Brett
01-17-08, 10:17 PM
they have to prop up our companies/banks by buying debt and stock because otherwise we are totally screwed and all the dollars they own will be worthless.

as you said there are always opportunities in bear markets.....vices like booze and girls. you should give that some thought :)

HITMONEY
01-17-08, 10:21 PM
My biz is pretty much recession proof.

It might slow down a bit, but we aren't going anywhere.. you never hear of lay offs at strip clubs.

tits

:devilheh:

Jesda
01-17-08, 11:10 PM
My business grows in a recession. People lose their jobs, go back to school, buy textbooks.

codewize
01-19-08, 01:06 PM
Hit; Gold is always a good investment since it's the ONLY global currency. Something I've always wanted to invest in. Somehow I always seem to end up wearing my investment :)

I take the opposite approach in a recession. My business is also mostly recession proof. If you have the funds then obviously a recession is the perfect time to buy. But make sure you buy into companies with a global presence. They'll always survive to come back.

AMGoff
01-19-08, 01:51 PM
It's amounts to a much needed market correction. There are much worse things than a falling dollar... it will create more opportunities for jobs here at home as well as a larger need for American-made products. As long as inflation is kept in check, the biggest hit consumers will see will be with the price of imports.

It pretty much comes down to the fact that this country has gotten a little too big for it's britches. History is a pretty good indicator of things to come... when one nation tries to extend their influence over the entire world the end result usually isn't all that good. Hopefully succeeding generations will realize that it's better to focus on affairs on the homefront than affairs half a world away.

Recession isn't necessarily a bad thing, it puts things in check. Let's just hope those in power realize this rather than just make some vein attempt to put a bandaid over it.

Somehow, some way... this country's fate will be governed by some big decisions over the next decade or so. We need to return to our roots... Personally, I'd rather have a much more stable, much more prosperous, much less influential America than none at all - and that's exactly what's going to happen if we continue to force our will around the world.

I think the rest of the world has been more than patient with us and has been extending credit to us in goodwill - not to take us over or destroy us because frankly, if we collapse it will have dire consequences around the world. The beautiful thing about this country is our system of government... other countries know this and they know in about a year that America could go in a completely different course than the one we've been forced to take over the past seven years.

In essence, they're all placing wagers on whether or not the American public is capable of taking our respective heads out of our collective rear-ends. Despite what some may think it all comes down to us, we're the one who have control over this country's fate. I just hope we can rise above such petty partisanship that has plagued this country for too long and start making decisions based on what's best for America.

I know we're capable of it... we've always managed to rise to the occasion when the occasion warrants it... I just hope we've got the requisite scope and subsequent balls to make it happen...

Jesda
01-19-08, 08:21 PM
Time for me to open a liquor store!

PAULSTSMAN1
01-20-08, 12:18 AM
they have to prop up our companies/banks by buying debt and stock because otherwise we are totally screwed and all the dollars they own will be worthless. :)

Brett:

You are on target! But understand this was designed to happen! :confused: The next strategy is to change the currency, similar to what is happening in the European Countries, to an international currency the: EURO. America will become a functioning part of a combined economic hemisphere with North and South America under a single currency: The AMERO. However to accomplish this the value of the USA DOLLAR, MUST SINK TO LEVELS THAT PUT IN ON PARITY WITH the lowest currency in the region: Mexico! This could happen by summer 2008! And forget the Gold strategy, it's leveraged hype and can and will be confiscated! Today it's being used like Real Estate was to draw in the last remaining novices with money left. Remember the old adage: "A fool and his money will soon part."

Brett
01-20-08, 10:04 AM
It's amounts to a much needed market correction. There are much worse things than a falling dollar... it will create more opportunities for jobs here at home as well as a larger need for American-made products. As long as inflation is kept in check, the biggest hit consumers will see will be with the price of imports. ...

over the long term you can not control inflation with a weaker and weaker dollar. Keep in mind inflation is already starting to go crazy. Remember the government numbers are slanted at best and completely made up at worse.

Brett
01-20-08, 10:06 AM
Brett:

You are on target! But understand this was designed to happen! :confused: The next strategy is to change the currency, similar to what is happening in the European Countries, to an international currency the: EURO. America will become a functioning part of a combined economic hemisphere with North and South America under a single currency: The AMERO. However to accomplish this the value of the USA DOLLAR, MUST SINK TO LEVELS THAT PUT IN ON PARITY WITH the lowest currency in the region: Mexico! This could happen by summer 2008! And forget the Gold strategy, it's leveraged hype and can and will be confiscated! Today it's being used like Real Estate was to draw in the last remaining novices with money left. Remember the old adage: "A fool and his money will soon part."

agree with you on gold....the amero thing is not likely

Destroyer
01-20-08, 10:53 AM
Time for me to open a liquor store!
Very good thinking. Recession=deppression=lots of drinking!.

Jesda
01-20-08, 01:14 PM
Ben Bernanke needs to stop printing money as a way of paying debt.

PAULSTSMAN1
01-20-08, 01:37 PM
Very good thinking. Recession=depression=lots of drinking!.

Also Liquor Stores are the most targeted business for Armed Robbery, I owned one in the 1980's. The Club business is better, if you have a good Security Team, and good counter-measures. :stirpot:

HITMONEY
01-20-08, 01:51 PM
Say what you want about gold. I'm in at under 600 and it is now almost 900. I am cashing out when it hits 1000.00

But I have also hedged with some gold options.

codewize
01-20-08, 02:22 PM
So you're saying if I purchase gold bullion in 1oz bars someone can go into my safe deposit box and take it from me. I'm thinking not. They'd have better luck getting struck by a meteor.

Gold is gold. It'll always be worth it's weight in gold. Gold will never be a bad investment unless purchased at the wrong time.

Hit; I've decided that options are not for me. I'm just going to flat out buy gold, when the time is right. I don't think that time is now.

HITMONEY
01-20-08, 02:35 PM
when you trade gold on the market like I do, you don't actually take possession of the gold.

You are just trading contracts (futures) to purchase at certain prices. Just like trading pork bellies or oil... they don't actually send the pork bellies or 55 gallon barrels of oil to your house. LOL!

dkozloski
01-20-08, 02:43 PM
when you trade gold on the market like I do, you don't actually take possession of the gold.

You are just trading contracts (futures) to purchase at certain prices. Just like trading pork bellies or oil... they don't actually send the pork bellies or 55 gallon barrels of oil to your house. LOL!
A barrel of oil as traded is 42 gallons of crude.

codewize
01-20-08, 02:44 PM
That part I understand. LOL that is funny though. But I'm talking about actually buying gold, in bars or coins.

Just buy gold, real gold and you'll always have that to fall back on. Gold works in any country and in any language.

So you're not confused, I was originally talking to you about options and contracts but I've since changed my mind on that. Too complicated and to much risk.


when you trade gold on the market like I do, you don't actually take possession of the gold.

You are just trading contracts (futures) to purchase at certain prices. Just like trading pork bellies or oil... they don't actually send the pork bellies or 55 gallon barrels of oil to your house. LOL!

dkozloski
01-20-08, 02:58 PM
A lot of people around here are physically holding gold. They dig it out of the ground and bury it back in coffee cans. In the vernacular it's called a "can stash" and the IRS is non the wiser. We think of it as an impromptu IRA created from pre-tax funds. There is a substantial underground economy conducted in raw gold(dust and nuggets).

codewize
01-22-08, 10:56 AM
Down another 300+ this AM. BUY BUY BUY !!!

Actually I don't think we've seen the bottom at all so HOLD HOLD HOLD

Playdrv4me
01-22-08, 02:21 PM
According to Dave Ramsey, the problem with Gold is that it has not shown a history of consistent gains, it is extremely volatile for some reason.

Right now you are doing *very well* with Gold if you purchased it 5 or 6 or more years ago, but over the long term Gold/precious metals has shown extreme fluctuations that make it difficult to rely on as a good prognosticator of stability.

Submariner409
01-22-08, 02:45 PM
Back when I was a snotnosed little brat, after the War (late 40's) my maternal grandfather was a gold believer...but the metal was fixed by the government at $32/oz. When he died he left me and my sister each 5 lb. of gold, in 8 oz. ingots. At today's $900+/oz., that's a nice chunk in a safe deposit box. BUT, if you start at $32/oz. on the day of deregulation and inflate the price by each year's index, it ain't all that much gain. (The acquisition price was right.....)

Brett
01-22-08, 02:54 PM
Most people that have a problem with Gold currently point to the fact that it is being HEAVILY leveraged by Hedge Funds.