Posted on 11/06/2008 4:19:45 PM PST by Lorianne
BOUNCE?? are you kidding. Everybody I know is cashin in and hiding the dough.
You have to be dumb as a post to buy this crap...
Sarah Palin doesn’t know Euphoria is a continent
Every stock dude I heard said it would go up BECAUSE there was a “change” in administration. Yeh...right....
Yep. It may be too small to hurt much, but it won’t help, that many of us are totally disengaging from the economy as much as we can. Maybe slow new growth and contribute to the unemployment of all the Hussein worshippers.
Bush’s domestic policies were divisive? How? He did everything he could to accomodate the left, often at the expense of the ideals of the right.
What a bunch of nonsense.
Oh, and while I agree that the economic problems are real, can you imagine a Republican getting a pass with a 700+ loss in the Dow in the 2 days following his election?
I do not care about slowing growth. It is already done. I am just putting out a storm anchor to ride it out.
Buy gold - bury it!!
Uh....would somebody call my cell phone in a couple of hours. I’m looking for a high bridge, but you may be able to talk me down.
Suggestion: Don’t call this fellow, Mark Westfield, for investing advice. The guy is an air head.
I hate to be a heartless SOB, but part of me wants to laugh at the Obama voters who will be laid off or fired because of the economic policies of “The One”. They will get exactly what they voted for.
I think its time the makers stop carrying the takers. We need an Atlas Shrugged moment.
It did go up on election day. I don't think anybody was anticipating a McCain win, either. I think it was, you know, "Yay! Change!". Then the next day, "Oh, wait ..." Maybe it was his speech.
They will starve before i do. Whats next is called Nationalization. Thats where they repossess your belongings for distribution to the “needy”. Watch out. Straight out of Marx’s playbook. Mugabe and Chavez must be beaming.
Now say you had a great job. Say you had great money in your 401k. Played the market, made some real change. Say you had $2 million in the account. Now the Gov steals your $2 mil. You put in your only $500 per month too that. By retirement say you have $2.5 mil. Now, you are 65, get your SS check and whatever you draw from the $2.5 mil. WHO gets to DECIDE how much each month you want to take from the $2.5 to put with your SS check? Maybe you want $5,000 per month added to your SS check. But, the GOV says, Oh, No no no, you can only take $1,500 per month max to add to your SS check. So how long would you have too live to get your $2.5 totally withdrawn? My calculator says 1666.66666666666666666666 years!!!!! So, in other words, you kick off in 20 or 30 years and the GOV has your $2.5 mil to spend as it sees fit, minus the small sum you took out over 20 or 30 years. You fam may get some of it, but under your 401k you family would have got EVERY dime you had left. Oh, don't forget, say the KIND Gov allowed your family to get $1 mil. Don't forget they will take about 50% in death tax.
Enjoy socialism folks.
This is going to be sad.
To start with, because of the decline, next year’s tax revenues are going to be down by double digits. And there is no commercial money left to buy T-bills, so forget about deficit spending. If they want to spend more than taxes, the Treasury will just say “no money left”. The last time the US government about went bankrupt was in 1895.
The real fun will begin when unemployment hits double digits, the credit card companies collapse (it was just announced that they can’t sell the bonds they need to cover their cardholders purchases, for the first time in 15 years). Millions of Americans live month-to-month on this credit, so won’t be able to pay rent.
Millions will probably then overdraft bank checking, so either the banks will halt checking, or retailers will refuse it. The only currency left will be debit cards and cash. This will cause massive cash deflation, as there is only enough paper money to support 5% of the daily retail.
Meanwhile, there won’t be any money to pay for Social Security, Medicare or Medicaid, and Defense will be lucky to get just Barney Frank’s 25% cut. Of course, if a war starts against the US, they will have no choice but to put money into Defense.
Sorry, Granny and Gramps baby boomers who voted for Obama, you are at the head of the line to get shafted in this deal. On the plus side, you can probably get government euthanasia.
And no Frank Roosevelt bail outs this time, because that is what started the problem in the first place. The best that impoverished people can hope for is government housing and free food. Health care will be minimal.
The fools in Washington will raise the income tax to 100%, but not get a spare dime out of the deal, so they will try a “wealth tax”. And that won’t work, either, because even the rich are going to lose their shirts in the downturn. A “rich” person will have a few thousand dollars in cash at home, that the government doesn’t know about.
Wealthy people, if they can, will leave the country and take their money with them.
Yep, this or parts thereof are going to make this a heckuva ride.
We’ve hit the iceberg, so Obama has been made the honorary Captain of the Titanic. He gets to go down with the ship.
If the Obama depression hits you will make it up in deflation.
Thats one of the best damn analysis i have seen written here on FR. I see it pretty much the same as you. The gig is up. We have been living in la la land for too long. Reality is about to set in. I just hope these idiots who voted for Obama starve first so i can laugh. Maybe it will make me forget about my own hunger.
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