Posted on 02/27/2009 7:14:30 PM PST by quesney
Money IS a risk. You probably bought high and sold low. Oldest trick in the book. Right now it is low but with Obummer in the WH I’d be a little skittish myself. If you can be aggressive in growth 401k’s, I would go for it. JMHO.
Oh boy, don't get me started!!
I am one of those lonely conservatives who never liked the "Patriot Act", and is generally distrustful of the DHS. And why do you ask? Because it was obvious that the pendulum would swing and we would have the likes of Obama holding the strings.
So now we have a liberal fascist POTUS with odious tools like "Directive 51" which essentially suspends the Constitution, undermines the notion of "separate and equal branches of government", eliminates Posse Comitatus, etc., etc., etc..
Our Founding Fathers are surely turning as we speak.
What everyone else shoulda done:
Voted Republican
Southack,
Thanks for that point-by-point analysis. Sorry if this seems a dumb question, but I’d value your opinion. It makes sense when you say sell what you can. I own my home outright (no mortgage), so it’s a great security in the sense no one can take it away, and I have no worries about rent or dealing with a landlord. However, I’ve been debating selling my house anyway for personal (non-financial) reasons. If I sell it, let’s just take a rough estimate that I get $225,000. Well, I have to stick that cash in the bank or somewhere, and it will earn interest, which is bad because then my tax burden increases. Also, with everyone talking about banks failing, it seems it’s hard to know which is safer, being “cash poor” but owning a home, but one that is not easy to get rid of easily...or cashing out, having the flexibility of renting and being able to move quickly, but also having this lump of cash to have to try to protect from taxes. I imagine many homeowners, even with mortgage, are in this quandary, it’s hard to sell, invest, and also downgrade to being a renter. Any thoughts?
A post in need of bumping...
Good point, maybe at least with a portion. Thanks!!!
Please keep in mind that investment carries risk. The fact that Washington is promising a 3 trill infusion, the market may be about as low as it will get for the next 4 years. When you get to a 15,000 djia, SELL!
Sell it. Get into cash. Now.
"Do you mean to tell me, Katie Scarlett O'Hara, that Tara - that land doesn't mean anything to you? Why, land's the only thing in the world worth working for, worth fighting for, worth dying for, because it's the only thing that lasts."
Don't sell your house!
I respectfully disagree with that advice. The THREE TRILLION DOLLARS pretty much shores up the banking system.
At this point those 3 Trillion Dollars shoring up the Banking system are still just paper.
If people decide they have no confidence in Greenbacks it does not matter how much Uncle Bammy and the boys pump into the banks.
The Gongress Critters and Barry Hussein are playing a very dangerous game right now. If some foreign entity wanted to bring down the system now they could very easy by manipulating the currency market (If they had the capital to do so like the Russians tried in the 80s.)
“Oh Pa, you talk like an Irishman.”
“It’s proud I am that I’m Irish, and don’t you be forgetting that you’re half Irish too...It’ll come to you, this love of the land. There’s no gettin’ away from it if you’re Irish.”
I don’t think they will. I am taking a chance on my own accord and investing. I do not endorse anyone taking a chance.
BTW, It think the lot of it is payback for the RE’s in Europe who claim the swindle from the S&P ratings on the derivitaves they bought.
No, the Canadians don’t want the passports because they think that the US border regulations are a pain, and that they are aimed at keeping Canadians from other countries out. They might be right.
On the other hand, just try going across with something out of the ordinary. It all depends who you get, I guess. One time I went across with an old truck that we own, to pick up some woodwork. The guy asked me a million questions about the truck, trying to trip me up, like who owns the truck, whose name is on the registration, etc.
For starters: We're having a big-a$$ garage sale this weekend! Eliminating clutter in our house and turning it into cash (while the Dollar is still legal tender). All proceeds go into more Ammo and Dry Goods.
Then a few months down the road, after the government goes bankrupt, the stipend stops for those expect an Obama handout, and civil unrest kicks in -- our family and close friends will be pulling together like smart people do in hard times.
We'll flip on the "boob tube" one day to watch coverage of the latest food rioting in LA or NYC, while we enjoy pinto bean soup and corn bread, following an afternoon of target practice at the range (the 10 year old still shoots better than dad, but not quite as good as mom) ;)
Buying usable commodities for your family (such as ammo and dry goods) is a much wiser investment than buying Gold or Apple stock in these times that we live in, my friends...
They always ask you if you are carrying any fire arms. Well, not always, but often. I used to know someone who owned a property that backed up to the freeway, by the border crossing, and they used find guns on the bank in back of their property all the time. I guess people just toss them before crossing the border.
Also, the Canadians are not happy with the Obama administration and pulled their computerized data base from the US side.
Obama is not nearly as popular as they told us he would be.
The Canadians told Obama not to bother making a visit unless he removed his buy American restrictions from the bail out bill. They kept reminding that Canada supplies the majority of our oil.
He removed a few, but not nearly all, and went anyway. He took his Sierra club protesters with him, though, protesting Obama not to buy Canadian oil.
I go to Vancouver quite often as well and neither side gives me a hard time, even when I bring commercial goods across for my Canadian friends. They just say...pull over ther and fill out the forms.
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