Posted on 11/14/2012 11:30:07 AM PST by Jean S
NEW YORK (Reuters) - Stocks briefly trimmed losses on Wednesday as President Barack Obama pushed for his proposal to have the wealthy pay more in taxes as a way to tame the federal deficit.
Taking a hard line in his opening bid before he begins fiscal talks with U.S. lawmakers later in the week, the president also said he was encouraged that some Republicans have agreed to raising new revenues.
(Excerpt) Read more at news.yahoo.com ...
“I’m really not being a smart-aleck here...but” get out of all financial markets! Get out! Get out! Get out NOW!
We got out over a year ago. The mortage and auto loans have been paid off. Hopefully, the credit cards will be paid off before the end of the year.
We’ve stocked up on lots of food, lots of charcoal (for cooking outside), have started purifying water for long term storage, and have a large storage crate of ammunition and looking to buy more.
“Nonsense. Stocks increased losses after his speech.”
...But think of how much MORE they would have gone down if Obama wasn’t relected.
You have to track the number of stock market points that have been SAVED.
(yes, I’m kidding)
Just heard on the radio one of Democrat members of Congress say that if the Republicans agree to raise taxes on the wealthy, they will agree to cut spending.
When asked like what kind of spending cuts??? He says: taking away the tax breaks of oil companies. What???? He calls the removal of an oil company tax break a cut in spending. And he was serious.
Really. I thought somehow Greenspan was at the mike, it always tanked when he spoke. Same for Ben. And now this. What is it, moving towards -1000 points since 0bozo Day?
My wife and I are having the same conversation. She says we stay in and ride it out. I say bail now.
She was right in 2008..... we have made that loss back and them some.
Somedays, I wish I still drank. ;>)
Yeah, we've heard that story before... many times.
That said... the Repubs should let the floodgates open and ALL the Bush tax cuts expire. This formerly great, now-liberal country blames Bush for every economic weakness anyway... let's remove all vestiges of his legacy. Give the people what they want.
Americans can only learn when the lesson affects them directly. When they can't buy the porn, beer, tattoos, pot or Iphones they want, that'll focus their little minds.
The Bush tax cuts expired years ago.
That’s almost halfway to an “Obama got reelected” correction.
By the time welfare programs are cut out of necessity, we’ll have already been stuck with a top income tax rate over 75% and a VAT tax over 30% and they will never go away.
I sold all my holdings 11/7 am, before crash.
I never met a brocker who earned his commission. The WSJ used to run a column called “The Dart Board”. It compared the top five brokers with the results from the auther throwing 5 darts at the stock listing. The DB won many times and was always 2nd or 3rd as compared to the Borkers picks.
Good, I’m glad you got out early. Smart.
I haven’t had many dealings with brokers, but your report matches up fairly well with people who have.
I think the dart board aspect makes for a great story. That was a good idea.
“The problem with Socialism is that sooner or later you run out of other people’s money”
I get it. I have not given up on an occasional drink, but if you do or you don't, reality is still there. Let me know how your decision goes, I'll let you know of ours as well.
(All I know is that it is no longer 2008, when we made the same decision to stay in, today is a different day, and the future scares me more than I can say....)
MOgirl
Right on.
“The problem with holding on to cash is that it becomes worth less over time. So if you park your funds in a safe account, you may keep the same amount of dollars, but lose lots of value over time.
A few years back, you could buy silver for $12.00 per ounce. Today its $32.00 plus. Thats an indication that in a real sense, your dollar is worth that much less.”
How about “junk silver”?
That is, old silver dollars, halves, quarters, dimes (back from when coins were 90% silver)?
A friend has recommended this to me as better than gold, because if the paper currency collapses, junk silver coins will be easily redeemable for paper cash, or “barter-able” for goods and services .
um...
Yes, I'd take Barter in that case.
I would like to thank the muslim marxist and all the people responsible for destroying America.
They allowed me to more than triple my money in one-day on my Nov 17 12 CAT 82.5 puts.
I am very grateful and I plan on using put options over the next year to create an enormous amount of wealth as you pull the plug on America’s life support.
I know that you’ll take most of it, but, it’s better than the alternative of wallowing in misery and poverty.
The stock marxist in action.
Having a job is so 2008.
Any silver is good. I think it’s better to have coins or something folks can judge better than say 2.75 ozs of something that may be a varying percentage of silver.
1, 10, 50, 100, 1000 oz coins, bars, ingots can be good. I’m just not sure how easy it will be to convert or cash in.
If you have a receipt, it will make it easier to cash in.
Some folks like the old coins, because they think it will be a lot easier to use in time of trouble. I don’t disagree with that.
It is important for folks to know that the precious metals are being counterfeited these days. Be sure to buy from a credible place, no matter what you’re buying.
One thing to remember in all this, if you’re planning for a high stakes melt-down situation, is that you’re going to make yourself a target, if you go flashing coin to make purchases.
I think it’s very important to put in supplies before things go south. General purchases aren’t going to be easy, if you have precious metals or not.
Growing grapes, making wine, cultivating crops, trading things, I think that has some credence to it also.
Again, food for thought.
Take care.
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