should I stay or should I go?

This is a discussion on should I stay or should I go? within the Off Topic & Humor Discussion forums, part of the The Back Porch category; As told to me years ago, Invest in products that you use and buy everyday. Tropican OJ, Coke, Pepsi, 3M. If you use it , ...

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  1. #16
    VIP Member Array HKinNY's Avatar
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    As told to me years ago, Invest in products that you use and buy everyday. Tropican OJ, Coke, Pepsi, 3M. If you use it , people use it and it wil be a solid investment.

    My old attorney used to ask me everytime we saw each other. Did you buy stock in Helium? I heard it is going to go up. Ha Ha

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  3. #17
    VIP Member Array Gene83's Avatar
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    Well, right now the markets are headed upwards. We'll see how they end the day. If the Dow finishes above 11,000 I won't jump from the roof. It's at 10,992 right now.

    When it drops to 7,500 or 8,000 is when things look pretty grim.
    "The superior man, when resting in safety, does not forget that danger may come." ~ Confucius

  4. #18
    VIP Member Array Guns and more's Avatar
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    Quote Originally Posted by DoctorBob View Post
    Michelle Bachmann and the tea bags guaranteed us that a default would not affect anything and we are way short of a default for a moment.

    If you insist on looking at facts like dropping stock prices and rising interest rates and slowed economic growth attributed to congressional gridlock, there are a few things you can do.
    Why would anyone get "facts" from someone who starts off his diatribe with name calling and factual mistakes.

    Here's a "fact" without name calling.
    1. We did NOT default.
    2. The downgrade, as everyone knows, was because S&P wanted to see a serious attempt to CUT SPENDING. ($2T-$4T)
    3. The Tea Party wanted to cut spending AND someday balance the budget.
    4. Harry Reid and the Democrat senate proposed nothing. Would not even bring the balanced budget amendment to a vote.
    5. In the end, the debt ceiling was raised AGAIN, spending was not cut, and S&P did what they promised.

    Here's the numbers, shrunk down to family equivalents. Thanks, Dave Ramsey.
    Your family income is $50,000 a year.
    You spend $78,000 a year.
    Your debt is $312,000.
    You propose to control your spending by spending only $76,000 a year.

    That's what the USA is doing.

    And you wonder why your credit is questionable?



    As for me, I got out of stocks due to bad advice from greedy brokers. I lucked out and got out before the crash of 2008.

    My advice is to put part of your money in metals. Mainly silver, right now. Something to store wealth against the falling dollar.
    Look at it this way. You have $100,000 in the bank. A new car costs $35,000.
    Five years from now, you'll still have $100,000 in the bank, but a new car will be $80,000.
    Now, let's say you put that $100,000 in silver. In five years your $100,000 will be $250,000. A new car is still $80,000 but you're keeping up.
    Think about it.

    I did some research.
    In August 2006 the Dow was $11,300 and silver was $12/oz.
    In August 2011, the Dow is $10,800, and silver is $38/oz.

    So if you were in the Dow, you made nothing in five years.
    If you were in silver, you more than tripled the value of your investment.

    I wish someone had told me this 5 years ago.
    Stubborn likes this.

  5. #19
    VIP Member Array Gene83's Avatar
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    Walmart was initially offered to investors in 1970 at a per share price of $16.50

    To date, the return to the original investors has been about 160,000%. By 2009, an initial investment of $1,000 was worth $1.6 million.

    Obviously, every stock isn't a Walmart. Kmart was rocking and rolling in the 70's. Look at it now. I worked for Woolworth. It's now defunct.
    "The superior man, when resting in safety, does not forget that danger may come." ~ Confucius

  6. #20
    VIP Member Array Guns and more's Avatar
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    Quote Originally Posted by DoctorBob View Post
    Michelle Bachmann and the tea bags guaranteed us that a default would not affect anything
    I had a brilliant thought. Let me opine, then tell me why I'm wrong.

    Let's suppose Michelle Bachmann and the Tea Party did not exist.
    Pretend the conservatives did not take over a share of the house.

    Do you think spending would be lower or higher now?
    Do you think S&P would have issued a downgrade?

    I think the answer is clear.

  7. #21
    VIP Member Array Gene83's Avatar
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    Quote Originally Posted by Guns and more View Post
    I had a brilliant thought. Let me opine, then tell me why I'm wrong.

    Let's suppose Michelle Bachmann and the Tea Party did not exist.
    Pretend the conservatives did not take over a share of the house.

    Do you think spending would be lower or higher now?
    Do you think S&P would have issued a downgrade?

    I think the answer is clear.
    Spending would have increased, by how much, who knows? Neither party manages to show much fiscal restraint when they are in power. As to what the S&P would have done, that is also anyone's guess. This is the same S&P that gave investment grade rating to billions of dollars of mortgage backed securities and was roundly criticized by the Obama administration when that house of cards finally collapsed. So, this may be a bit of political payback. As a people and as a nation, we are in a precarious position right now. We are fat and out of shape. Our financial house isn't in order. We have too much debt and too much of it is owned by a communist nation that doesn't have our best interests at heart. The problem is, politicians don't have our best interests at heart either. They have their interests and the interests of those who finance their campaigns at heart. It will get a lot worse before it gets any better. The real power shift will come in a few years when the average American has a Hispanic ancestry.
    "The superior man, when resting in safety, does not forget that danger may come." ~ Confucius

  8. #22
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    Buy Physical Gold
    jwhite75 likes this.

  9. #23
    VIP Member Array dukalmighty's Avatar
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    Baby needs Gucci Diapers...let it ride
    "Outside of the killings, Washington has one of the lowest crime rates in the country,"
    --Mayor Marion Barry, Washington , DC .

  10. #24
    Distinguished Member Array Stubborn's Avatar
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    I'm investing my money in precious metal...lead and MRE's and a water purifier and a reloader, and powder and primers and...etc
    "The beauty of the Second Amendment is that it will not be needed until they try to take it".
    Thomas Jefferson

    ΜΟΛΩΝ ΛΑΒΕ

  11. #25
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    I got out. I rode todays wave back up and then jumped ship. I locked my losses in at a small amount but I'll be able to sleep tonight. I'm too much of a wimp to let it ride.
    Stubborn likes this.
    Mark Twain:
    The government is merely a servant -- merely a temporary servant; it cannot be its prerogative to determine what is right and what is wrong, and decide who is a
    patriot and who isn't. Its function is to obey orders, not originate them.

  12. #26
    Distinguished Member Array Stubborn's Avatar
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    Good for you "timmy" I'm afraid it's going to get much worse before it gets better.
    "The beauty of the Second Amendment is that it will not be needed until they try to take it".
    Thomas Jefferson

    ΜΟΛΩΝ ΛΑΒΕ

  13. #27
    VIP Member Array Guns and more's Avatar
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    Quote Originally Posted by atctimmy View Post
    I got out. I rode todays wave back up and then jumped ship.
    Currently down $377, don't you feel better?

    The rise yesterday was due to Ben Bernake acting as Obama's campaign manager, and announcing interest rates would be held low until after the election. (Since when does the Fed act two years ahead?)
    Now, the Fed is screwed, and the Dow is down today. The Fed has no more arrows in the quiver. What can they do? Print money and promise to PAY YOU to borrow money?

    Keep in mind that "the Dow" is a phony judge of the economy. Brokers will tell you, "If you would have invested in the Dow in XX year, you'd be a multimillionaire today."
    The dirty little secret is that corporations that don't perform get kicked out of the Dow.
    Only one of the original Dow index companies is still there, GE.

    I got more bad advice from a broker who said, "Buy GE, it's more like a dot com than a mega company. It will be $250 in six months." So, I bought at $121. A week later, it was $98. Three years later, it clawed it's way to $117 and I got out. Today it's $15. (Maybe it split, but I'm out forever.)

  14. #28
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    Whoooo am I glad I jumped out. On Monday I lost $9800 and change. Tuesday I was only down $661. I jumped out then. Had I stayed I'd be back down 10K.
    Mark Twain:
    The government is merely a servant -- merely a temporary servant; it cannot be its prerogative to determine what is right and what is wrong, and decide who is a
    patriot and who isn't. Its function is to obey orders, not originate them.

  15. #29
    Distinguished Member Array deadguy's Avatar
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    Good move Timmy.
    There's nothing like a funeral to make you feel alive

  16. #30
    VIP Member Array jwhite75's Avatar
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    Quote Originally Posted by atctimmy View Post
    I'm no financial genius. I usually stay out of the market because I can't sleep at night unless my money isn't at risk. Honestly, I'm such a wimp when it comes to money.

    BUT...like a dummy I thought that last weeks sell off was a good time to buy low. Boy was I wrong.

    So my question is this: Are we at the bottom and should I ride it out or should I jump now and lock in my modest losses in order to avoid the big hurt?
    If you are planning on making money for yourself long term in the market. Turn off you TV from anything finance related, and dont be surfing the net etc. Leave it alone. It will all come back. Dont keep panic buying or selling it will only screw you in the long run.
    Friends don't let friends be MALL NINJAS.


    I am just as nice as anyone lets me be and can be just as mean as anyone makes me. - Quoted from Terryger, New member to our forum.

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