Posted on 09/17/2008 2:32:54 PM PDT by wyowolf
What ever you say shorty...
You’re right. What’s to learn? What’s to learn when you are a know-it-all who knows nothing? Another ostrich with his head buried in the sand.
Thanks for playing. Talk to me in a year. But you won’t admit you were wrong. You’ll be nice and quiet like the rest of the FreepyAnnas who were wrong. All those people who were wrong about NASDAQ 5,000 justified by the “New Economy”. They lost there asses and were wrong, but you won’t see them posting here about it. They are nice and quiet when the topic is discussed.
All those people who were wrong about the Housing Bubble collapsing. They were completely wrong, but you won’t find them here admitting it.
All those people who bought into the big lie that the world had decoupled from a downturn in the American economy and their foreign stocks would soar for years and years. The Hang Seng is in full collapse. They lost their ass in that one too, but they aren’t here admitting it. Just hush, hush. Quietly pretend it never happened and never admit you are wrong.
All those people about the speculative oil bubble collapsing. That just happened two weeks ago, and they have been nice and quiet ever since. I wonder how many took a $15,000 hit on the SUV trade in on a Prius, now that gas prices are heading back to $3.00/gallon. But no, you won’t hear them admit it. You see, nobody here admits their mistakes. Anonymity is a wonderful thing. You can scream how right you are while never ever admitting you were ever wrong about anything.
And you are the same.
You will ultimately see that the economy continually turns for the worse after the election and keeps plunging deeper into the recession. But you won’t say a damn thing about how wrong you were. Nope, like all the others who were wrong about so many other things, you’ll just be nice and quiet as you watch the stock market and housing continue downward, as unemployment rises and as more people say “I’ll never retire, houses are lousy investments, stocks are bad investments...”
Thanks for playing. Enjoy the show, Mr. know-it-all know-nothing. Ignorance is bliss. Someday you’ll wash that sand out of your eyes.
As you well know, the economy is based on debt.
Always need more debt created to cover previous debt.
You can’t pay back debt with “real money”, because there IS NO REAL MONEY LEFT!
Except... well, you know.
I figured that all out years ago, that the numbers were only getting bigger and bigger (numbers FAR outpacing actual increases in productivity).
Well... we’re alright. We won’t have “two consecutive quarters of no real growth” indicating a recession. They’ll figure out a way to fudge the numbers and everything will be hunky dory!
Being brutally honest, I thought the massive increase in Federal debt built up during Reagan’s administration was going to lead to a depression or massive inflation. But it never came. I kept waiting for the other shoe to drop, and it just never came.
The economy kept getting better and better and the massive National Debt just didn’t seem to bother anyone. It was like it was not even there. Eventually I became convinced that debt doesn’t matter. Just as long as nobody looks at the elephant in the room, it just doesn’t matter. And nobody was looking.
Decades went by. All the while, this made no sense to me. I kept thinking, “somebody has to pay this off someday, don’t they???” But nobody cared and the economy went on a tear. But I could never escape my logic and the lessons my Dad taught me about money that you just can’t kite debt up higher and higher forever. Someday there has to be a day of reckoning. Even as Reagan convinced everybody that you can borrow and spend forever, it didn’t pass my logic test. But the economy was soaring, so I just HAD to be wrong, didn’t I?
The chickens are now coming home to roost. When your service economy is trying to support vacation homes, sports cars and professional-quality home theater systems on a secretary’s salary, someting’s got to give.
Now I’ve learned it is all a ponzi scheme and you just hope all those dishes being kept spinning atop sticks while more and more are being constantly added, don’t come crashing down on your head while you are still breathing. That’s a mean trick to play on the kids, but you can only hope that the powers that be will blow that bubble a little bigger and kite that check to a few more banks and keep those dishes up in the air until you pass away in peace, and not have to pay the piper for the party of the past 50 year ponzi scheme.
Well, it is looking like the plates are slowing and starting to come down. I’m not looking forward to living through the aftermath. In a way, I wish I was as blissfully ignorant as the mass of sheeple. On the one hand I am better prepared for knowing what is to come and preparing for it. On the other hand, how can you frolick on the beach, Mai Tai in hand, when you see the water receding and know the Tsunami is on its way... Right now I’m jealous of all those folks blissfully frolicking on the beach. Years from now, I’ll be glad I followed all the animals heading for high ground while the beach was still bone dry.
There is only one way to destroy all the debt that needs to be destroyed to get back to fiscal health. We can’t possibly every pay it back. The debt must be destroyed and those kinds of depressions are pretty damn painful.
Not looking forward too it and I’m HOPING we escape it this next few years, blow a great big asset bubble that will hold me over for 25 more years or so. That’s all the time I need.
bookmark for later
More importantly, this does not bode well for the GOP in November as many swing voters in the middle will simplistically vote against the incumbent party in the face of an economic downturn. This may be Obama's break, sorry to say.
it’s a 401 managed by an investment house. Some in stocks, some in bonds. But it is the equity fund which has been the mosr rewarding, before now.
I agree that so far, this works to the Messiah’s benefit. However, the fact that McCain was alone calling for regulation of these guys a few years ago doesn’t hurt.
His record on this stuff is good, his team needs to effectively get that message out. They appear to be dithering and need to get it together and start pounding it.
LOL LOL LOL LOL! So now the whole country is going to stop owning homes because California Dem crooks screwed it's citizens? Boy is that pathetic. Thanks for playing.
I think that's indeed what is happening. This was not like the "Georgia moment."
i heard him at an appearance in Cedar Rapids, IA just a bit ago on Fox and it was better. he is forming his response. it’s unwieldy bc the subject matter is complex and many don’t understand it, so it has to be finely honed to reach the regular joes. i think they will continue to work on crafting something. the campaign has done well so far, i am cautiously optimistic. i always seek out your posts, btw, just to see how you are feeling about the #s etc. : )
BTW, hope you'll check out my new book, 48 Liberal Lies About American History
definitely will check it out. wanted to check the fox website to see if my 8th grader’s book is on the list. will check for the reagan sections as you suggested. heard you on F&F [heard rather than saw, bc i have XM radio] great job!
I guess you have no clue about the concept of “capitulation.” After a move has run its course, the mass of people over-react to the move and begin to believe it has become the status quo.
When home prices were soaring, people allowed themselves to be convinced that home prices would continue to rise unabated forever. When the NASDAQ was surging, people believed some “new economy” would cause a continual rise. After such long upward moves, the mass of people forget that markets are in continual cycles, and act as though the cycle will never turn.
This is as true of the downside as the upside. When the stock market underperforms for year, many people forget it is just part of the natural cycle and they become convinced the market will never turn around. When housing is down for a protracted period, many people start to believe that housing will never be a good investment again.
That is the basis for my line. It signals a bottom when the mass of people begin to think stocks and housing will never again be good investment. The fact is, the cycle will turn and stocks will someday again be a great invesment and housing will someday again be a great investment. But you will see people saying that stocks and housing will never be good again before this unusual cycle is done.
We are at the end of a very long cycle with very lofty gainsin both equities and housing. So this cyclic turn will be long and deep. People will be saying “I’ll never retire, houses are lousy investments, stocks are bad investments.” By that time, I’ll be buying back in because we will be deep in the down-cycle and I’ll enjoy a fast ride back up on both stocks and housing.
You took my line literally as if I was saying those things. No, I am saying the mass of people will say those things because the long, deep down cycle will make them forget or lose faith in the cyclic nature of assets. These people will not be in place to ride the next boom because they will become convinced that stocks and housing will never turn around. This is most people.
That is why most who don’t dollar-cost-average with discipline end up buying high and selling low. Instead of being ruthless and following market cycles, they get emotional and do the wrong thing at the wrong time.
Housing goes up and up and up and they think they have to get in before they can’t afford to get in, but they’ve already missed the boat.
The stock market plunges 30% and they sell because they fear losing even more, but they’ve already missed the boat.
I hope this is more clear to you now. You really need to get more educated about all things financial. That’s not meant to be insulting, while it will seem to read that way. I literally mean, from your posts to me, I feel like you need to read a lot more about finances. JMHO.
GS under 100 looks pretty good now, eh?
Maybe.
Do you know what’s on their books?
Neither do I.
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