What is going to happen, economically?

@hamburger,

My family lived through the dust bowl, and split with some going to Cali, and some riding out the storm on the prairie. My Gram recalls it vividly.

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@cicerone imposter,

kk so, i go from poor to poorer.

unacceptable. time to riot Razz

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@OGIONIK,

wow all i see in my news sources is

700B bailout

closed door meeting, with our money.

pay off individual mortgages.

foreign banks get help too?

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@OGIONIK,

Yup, our government is now in the process to help all those managers and investors of banks and finance companies through their incompetence have destroyed the golden egg to bail them out, and pay them back all their losses with tax money. The funny thing is, I've lost money in the market, and the government never came to my rescue, and returned my losses.

You see, we have been transformed from capitalism into socialism in one quick swoop of the pen.

There is always a truism about humanity; it's very easy to spend other people's money in reckless ways, and it's been proven over and over by our government.

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@OGIONIK,

Don#t worry.
The decent rational people are with their counterparts who live in USA,
But throw your credit card.
Consume a little what you wish to enjoy.
SWupport not the criminals who sucks the blood of the humanbeing including your brothers and sisters.
My heart is with the rational humans around the globe.
God curse the barbaric system and bless the decent innocent victims.
Rama fuchs

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@OGIONIK,

The big picture is too big for me to contemplate. I'm good at head-in-the-sand reactions when things get too big.

On a smaller scale -- I'll cut back where I can.

I'm not moving any investments or savings -- possibly a dumb decision on my part but moving them would make me look at them and I'd rather not in the short term.

I'll wait a few days for those who have the power to be stupid and get away with it to figure out what they're going to do. Depending on how stupid those decisions are I may be forced to pull my head out of the sand.

In the meantime I have food in the cupboard and a roof over my head.

Where's Heeven?

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@JPB,

Good on ya! We're doing the same; keeping our investments with Vanguard. Kinda expected this volatility when the market hit 14,000, and sold some funds and transferred to federal money market IRA funds to buy back when the market hits about 9,000.

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My money is in the "Under Bear's Mattress National Bank" It's not earning...but it's not losing either.

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@cicerone imposter,

Victory gardens are not corny. They are very patriotic and many of us still grow them. That you would find them "corny" speaks volumes about your complete lack of patriotism and overly socialist viewpoint.

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@cjhsa,

The idea isn't corny; the name is.

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@cicerone imposter,

i cant wait to start my own garden, hopefully soon. but hope never did get me anywhere ;D

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@JPB,

JPB wrote:

The big picture is too big for me to contemplate. I'm good at head-in-the-sand reactions when things get too big.

On a smaller scale -- I'll cut back where I can.

I'm not moving any investments or savings -- possibly a dumb decision on my part but moving them would make me look at them and I'd rather not in the short term.

I'll wait a few days for those who have the power to be stupid and get away with it to figure out what they're going to do. Depending on how stupid those decisions are I may be forced to pull my head out of the sand.

In the meantime I have food in the cupboard and a roof over my head.

Where's Heeven?

Were we separated at birth? Laughing

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@Eva,

SISTER!!!!

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@JPB,

Honestly, J, that was almost verbatim what I said to someone today.

They asked me how my stocks/mutual funds were doing.
I said I hadn't looked.
They said that was what all the experts were recommending.
Laughing

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@OGIONIK,

Hmmmm.

I was just thinking, how will the millions that live in suburbs feed themselves without enough land to cultivate and see them through the turmoil? It just seems so grim. Everything seems so negative, doesn't help I'm a natural pessimist (or 'born depressed'). How did it get this far, I cant accept greed, I cant believe that people could be so blind to the dead end of unquenchable avarice even though I routinely spout on about how stupid we are as a species.

I guess given the limitations of your planet, the leaders of our cultures get bored and just have to **** with people.

I still have issues even contemplating $700,000,000,000, its like thinking about how massive the galaxy is, its just mind boggling.

700,000,000,000
21,000 my earnings per year, I feel like a microscopic piece of ****.

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@Eva,

Yeah, but quarterly statements come out next week. It's gonna be tempting to open them.

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@Xenoche,

how will the millions that live in suburbs feed themselves without enough land to cultivate...

we all gonna move to Kansas.

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@Eva,

Eva wrote:

Honestly, J, that was almost verbatim what I said to someone today.

They asked me how my stocks/mutual funds were doing.
I said I hadn't looked.
They said that was what all the experts were recommending.

I looked when my superannuation yearly statement came a couple of months ago.

BAAAAAAAAAAAAAAAD move.

I lost more than $39,000 last year.

I am so not looking now.

Why? Because there's damn all I can do.

However, hopefully my investments are well spread around enough (they're supposed to be) that, in a few years, they're back to a perfectly reasonable place. Such is the market. This bubble has clearly been going to burst, and the warning signs have been there perfectly plainly.

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@JPB,

Quote:

I'm not moving any investments or savings -- possibly a dumb decision on my part but moving them would make me look at them and I'd rather not in the short term.

take warren buffett's advice : "if you don't intend to hold a stock for ten years , don't even hold it for ten minutes " .
problem is that many people start buying stocks when they have little more than ten years left - in that case one would be better off with plain vanilla investments , such as treasuries and cd's .
even mutual funds usually need long holding periods to show any true positive returns .

what's the old saw : "investigate before you invest " .
i paid for my lessons early on and learned that i'm not a good risk taker .
i like to sleep soundly and am a rather careful - perhaps overly careful - investor .

(mrs h and i likely never spent more than ten (10) dollars for lottery tickets and "games of chance" - though we did enjoy some visits to casinos to watch "unexplainable" crowd behaviour - and the free meal offered Very Happy

. )
hbg

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@hamburger,

hbg, I'd surprise myself if I lived another ten years, but I'm leaving our retirement investments intact until the DOW hits 9,000 when I'll rebuy the funds I sold when it was 14,000. Patience, patience...

1 Reply

What is going to happen, economically?

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