Posted on 10/09/2008 8:08:53 PM PDT by El Conservador
Doom and gloomers are helping with the work of the paid subversives here and on other forums.Wait... I could be PAID for this?! Details!
Contact the Obama campaign and Move On, etc.
Glad to hear you say that. Essentially that is what Don Worden has been saying in his Worden Report.
My 401(k) has lost 27.9% since May, but unless I panic and try to withdraw from it (giving the gov’t 50% in the process), it’s only a paper loss.
I don’t believe the fundamental values behind the stocks have dropped precipitately, we’re seeing general panic here.
Of course, that’s easier for me to say, since I presumably won’t have to tap my 401(k) for another six years...
Matt 24:35
But of that day and hour knoweth no man, no, not the angels of heaven, but my Father only.
KJV
The S&P is down 42% from the high one year back. That is probably closer to the average losses so far in mutual funds. Some less and you must have one of those that invests a portion in bonds.
I come from a place in which a decade ago the banking system actually seized up, and learned the lesson of living within one's means, with little or no debt.
Here it has been a few decades, and I still recall the lessons learned at my parent's knees of the time when our banking system failed as well, and our economy crashed.
The American people in general will have once again to live according to income, and not try to pimp our lives by incurring in unnecessary debt.
That is all nice, but what of those of us who are frugal, who buy little we do not need, who live modestly, who have never owned a new vehicle because it is such a bad investment?
Doom and gloom?
No, honest concern.
We can always panic later.
So, cashing out of one IRA and paying the 10% cheese fee to the Feds and buying $50,000 in bullion (hidden in 3 locations), buying 2 guns, having 6-months of food on hand and seeds for next year’s garden isn’t paranoid?
I just did all that in the month of October.
The wife and I are spending the afternoon watching the Blue Angels in San Francisco then heading to the shooting range.
It’s all good in the neighborhood.
Thing is, how do you it's not? Everyone says that this'll all straighten out eventually but who knows, maybe it won't. Bet the Romans felt the same way until the end.
Granted, I don't feel this way but some do. Storing (or hoarding) food, water and ammo is a good idea ... just in case. Hopefully it won't be needed.
you should always be prepared but let’s not get too crazy.
No doubt. Reminds me of the Y2K panic and we all seen how that turned out. I can understand people being upset who are watching their life savings dwindle away but for the rest, they just need to relax.
Mrs SLB and our two daughters who are still living at home with us went to Texas Roadhouse for dinner two nights ago. The steak was great!
I made my mortgage payment yesterday - due the 10th so paid two days early.
I looked at my Thrift Savings Plan account last night - I moved the majority into a bond fund sometime back which is going up.
We have tickets to Actor’s Theater in Louisville for tomorrow night and plan on making it a night on the town with dinner somewhere prior to the play.
Did I tell you we graduated from Dave Ramsey’s Financial Peace University eight years ago and do not own a credit card? Only use a debit card so we have NO consumer debt except for the mortgage payment. You have no idea how great it feels to pay cash for a car.
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