A friend of mine told me he sold everything he had right after Obama’s SOTU address. My tax lady said she wasn’t putting any more money in the bank, even if she has to bury it in the back yard.
Bump!
If you’re thinking about raising cash, this link might interest you:
http://www.dollartimes.com/calculators/how-long-will-your-savings-last.htm
It’s important to realize that by selling stock, the tax hit is about 30% of the gain ( federal and state)if notg higher. Thus, this means that sellers are happily taking a 30%+ haircut just in order to get out of stocks..or, to put it another way, they are anticipating a DECLINE of MORE than 30%
“Nobody should panic right now”
I always get in on the tail end of the panic. I think I’ll go ahead and panic now ahead of the pack:)
If it gets started with a a fast but relatively short fall and doesn’t bounce back quickly, were in for a catastrophe.. A dead-cat bounce! We could loss as much as 35%, in the first wave, followed by a steep recession and an additional crash..
I and many too many others missed the last one in 08, but caught the March 6th bounce to recover all of my losses.. It started this way, and I don’t believe in miracles enough to catch the next wave.. I’m more than reticent, I’m out.. jus sayn’
We know that the main issue behind the stock market, BTW, is that of the automatic spending cuts (AKA “sequester”). Not so much of a real issue, but made big by special interests, IMO.
Soooo,
Taxes going up w/ Obamacare and the recent deal
High gas prices sucking consumers dry
Debt bubbles in student loans and can-he-fog-a-mirror auto loans
Avalanche of business-killing regulations spewing forth
Europe looks puny
China bubbles bubbling
Gold in backwardation?
That happens when futures buyers don’t think the counterparties will actually deliver the gold.
FRiends, get yur guns, gold, and grub ready
Why is the market going up if corporations are unloading stock?
read later
Uncle Ben must have told all his banking Wall St. buddies that he was going to pull the plug on the 90 billion dollars a month stock market float since they have drawn enough retail suckers back into the market by pumping it up to the 14000 level while having the business media promote rainbows and unicorns 24/7.
The insiders dump at the peak and the retail suckers get cleaned out again. The market is nothing more than an insiders fleecing operation totally ran by the FED while the captured SEC regulators surf porn and yawn.
Leni
They see some kind of gun confiscation scenario unfolding, and that will crash every market there is.
Galt’s Gulch intersecting Zombies on parade.