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that this could be the day I lose my job. that this could be the day the
stock market crashes.
i've never been so fearful about my job security and retiring without a
pension because of financial collapse of the stock market.
i think things will get worse and it will be a long recovery.
Doug wrote:
> that this could be the day I lose my job. that this could be the day the
> stock market crashes.
>
> i've never been so fearful about my job security and retiring without a
> pension because of financial collapse of the stock market.
>
> i think things will get worse and it will be a long recovery.
Sorry that you are going through this Doug. It must be a crummy
feeling. Things will get better in time but that is not much hope for a
man who has worked for years and put tried to abide by the system.. I
hope that you condiser voting out all incumbents with a vote to express
your feelings right now. VOTE OUT ALL IMCUMBENTS! Send Congress a wake
up call. We do not need life time politicians. They need to know that
they are expendable. THEY WORK FOR US! and NOT THEMSELVES.
PLEASE SEND A VOTE TO CONGRESS.. Tell them NO CONFIDENCE. By voting
out every incumbent seeking re-election. Just say Hell NO!
Doug <i...@k...com> wrote in message
news:49059b03$0$4951$9a6e19ea@unlimited.newshosting.
com...
> that this could be the day I lose my job. that this could be the day the
> stock market crashes.
>
> i've never been so fearful about my job security and retiring without a
> pension because of financial collapse of the stock market.
Yeah, it's a friggin' nightmare.
You know, for years, I made jokes about the upcoming collapse,
I always told people that I KNEW all those idiotic 401(k) plans were
a joke and would be as worthless as Social Security when the boomers
went to retire so even though I had them I also had my "Plan B", what
I called "global thermo-nuclear investing", said I'd be furiously trading
the collapse and when the smoke cleared I'd own the entire world
hahahahahaha...
Well, MAYBE all that will still happen...but I was talking to my
oldest sister last night, and it just reinforced my real feelings the
last few weeks. She's gonna be retiring within the next decade
and told me she looked at her 401(k) plan losses last week
and literally sat on the floor and cried. She doesn't know if
she's going to be able to retire or have any money at all and
is thinking about HER "Plan B", which is something to do with
bankruptcy and at least she owns her home free and clear and
stuff like that...
I just really feel bad for all the people who are being seriously
hurt by this nonsense, not just the people in my family. I DON'T
want to "own the world" or even a bigger piece of it if it causes
this kind of pain to others.
> i think things will get worse and it will be a long recovery.
Well, yeah, maybe, but maybe this is also the time we need
to remember what FDR said, you know about "fear", and try to
keep a positive attitude, keep having some fun and enjoy life,
particularly if you are NOT in any immediate danger, spend
some money and keep the thing moving, and most importantly,
think about how you can help others, because ultimately that's
what life is REALLY all about, we're all in this together.
<sappy soapbox mode off, back to cynical sarcasm mode>
---
William Ernest Reid
Post count: 1240
-=DirtBagŠ <D...@d...net> wrote:
>Doug wrote:
>> that this could be the day I lose my job. that this could be the day the
>> stock market crashes.
>>
>> i've never been so fearful about my job security and retiring without a
>> pension because of financial collapse of the stock market.
>>
>> i think things will get worse and it will be a long recovery.
>
>Sorry that you are going through this Doug. It must be a crummy
>feeling. Things will get better in time but that is not much hope for a
>man who has worked for years and put tried to abide by the system.. I
>hope that you condiser voting out all incumbents with a vote to express
>your feelings right now. VOTE OUT ALL IMCUMBENTS! Send Congress a wake
>up call. We do not need life time politicians. They need to know that
>they are expendable. THEY WORK FOR US! and NOT THEMSELVES.
>
>PLEASE SEND A VOTE TO CONGRESS.. Tell them NO CONFIDENCE. By voting
>out every incumbent seeking re-election. Just say Hell NO!
There has never been an integrated "world economy" until the last
generation or maybe even less, but now globalization has made it
possible for the whole thing to do whateveritis at once.
--
victim: A newbie who has it all figured out.
"Bill Reid" <h...@h...net> wrote:
>
>Doug <i...@k...com> wrote in message
>news:49059b03$0$4951$9a6e19ea@unlimited.newshosting
.com...
>
>> that this could be the day I lose my job. that this could be the day the
>> stock market crashes.
>>
>> i've never been so fearful about my job security and retiring without a
>> pension because of financial collapse of the stock market.
>
>Yeah, it's a friggin' nightmare.
>
>You know, for years, I made jokes about the upcoming collapse,
>I always told people that I KNEW all those idiotic 401(k) plans were
>a joke and would be as worthless as Social Security when the boomers
>went to retire so even though I had them I also had my "Plan B", what
>I called "global thermo-nuclear investing", said I'd be furiously trading
>the collapse and when the smoke cleared I'd own the entire world
>hahahahahaha...
>
>Well, MAYBE all that will still happen...but I was talking to my
>oldest sister last night, and it just reinforced my real feelings the
>last few weeks. She's gonna be retiring within the next decade
>and told me she looked at her 401(k) plan losses last week
>and literally sat on the floor and cried. She doesn't know if
>she's going to be able to retire or have any money at all and
>is thinking about HER "Plan B", which is something to do with
>bankruptcy and at least she owns her home free and clear and
>stuff like that...
>
>I just really feel bad for all the people who are being seriously
>hurt by this nonsense, not just the people in my family. I DON'T
>want to "own the world" or even a bigger piece of it if it causes
>this kind of pain to others.
>
>> i think things will get worse and it will be a long recovery.
>
>Well, yeah, maybe, but maybe this is also the time we need
>to remember what FDR said, you know about "fear", and try to
>keep a positive attitude, keep having some fun and enjoy life,
>particularly if you are NOT in any immediate danger, spend
>some money and keep the thing moving, and most importantly,
>think about how you can help others, because ultimately that's
>what life is REALLY all about, we're all in this together.
>
><sappy soapbox mode off, back to cynical sarcasm mode>
>
>---
>William Ernest Reid
>Post count: 1240
I used to think you were kind of a snotty shit Bill, but apparently
you have a clue and a conscience on top of it, good for you.
I've been up and down and all over the map. I have several levels of
fallback plan. Maybe if I get lucky one of them will work.
One of the central aspects of my life for the past few years, since I
realized what was on the global platter, has been finding ways to live
as cheaply as possible. I think there's a lot to be said for learning
to live cheap. Especially if things go as bad as I suspect they're
heading.
And yes, we're all in it together. Somehow or other.
--
victim: A newbie who has it all figured out.
Bill Reid wrote:
> Doug <i...@k...com> wrote in message
> news:49059b03$0$4951$9a6e19ea@unlimited.newshosting.
com...
>
>> that this could be the day I lose my job. that this could be the day the
>> stock market crashes.
>>
>> i've never been so fearful about my job security and retiring without a
>> pension because of financial collapse of the stock market.
>
> Yeah, it's a friggin' nightmare.
>
> You know, for years, I made jokes about the upcoming collapse,
> I always told people that I KNEW all those idiotic 401(k) plans were
> a joke and would be as worthless as Social Security when the boomers
> went to retire so even though I had them I also had my "Plan B", what
> I called "global thermo-nuclear investing", said I'd be furiously trading
> the collapse and when the smoke cleared I'd own the entire world
> hahahahahaha...
>
> Well, MAYBE all that will still happen...but I was talking to my
> oldest sister last night, and it just reinforced my real feelings the
> last few weeks. She's gonna be retiring within the next decade
> and told me she looked at her 401(k) plan losses last week
> and literally sat on the floor and cried. She doesn't know if
> she's going to be able to retire or have any money at all and
> is thinking about HER "Plan B", which is something to do with
> bankruptcy and at least she owns her home free and clear and
> stuff like that...
>
> I just really feel bad for all the people who are being seriously
> hurt by this nonsense, not just the people in my family. I DON'T
> want to "own the world" or even a bigger piece of it if it causes
> this kind of pain to others.
>
>> i think things will get worse and it will be a long recovery.
>
> Well, yeah, maybe, but maybe this is also the time we need
> to remember what FDR said, you know about "fear", and try to
> keep a positive attitude, keep having some fun and enjoy life,
> particularly if you are NOT in any immediate danger, spend
> some money and keep the thing moving, and most importantly,
> think about how you can help others, because ultimately that's
> what life is REALLY all about, we're all in this together.
>
> <sappy soapbox mode off, back to cynical sarcasm mode>
>
I have been hearing thing the same from people I always considered
"financially set". I was having coffee yesterday downtown just chilling
and chatting with some people I always felt were super-well off. It
seems that the very wealthy are feeling the market decline. One man
confided that he has lost more than half his net worth in the last 2
months. I see the fear in peoples eyes even in wealthy areas. No one
is immune here IMO. Just a matter of perspective. Whats wrong with
driving a +5 year old car. ? If it is a good quality well maintained
vehicle that is paid for. This disposable consumer waste need to be
stopped anyway. It was a sad commentary on society anyway. I am kind
of happy to see this awakening though I sympathetic to those who's
retirement is now in question.
Jim, we have one great advantage that our parents did not have during the 1930s
and that is data. What the New Deal did was to take stabs at solutions that
could work if they guessed correctly. Some programs worked so well, they're
still with us. Other programs were not only dismal failures, they may have even
been illegal. But then as now what is important is that starting in January
there is at least a *possibility* that someone in charge cares. We'll see, but
at least it will be an improvement because it cannot get much worse.
Another reason to be upbeat is that the Ayn Rand influenced academics will no
longer be in the driver's seat and "supply side" nonsense will be history. I
personally hope Bernanke hands in his resignation rather than having warfare
between the Fed and the executive branch for the balance of Bernanke's four year
term of office.
We can also be optimistic because the folks that most benefitted from the
trickle down redistribution -- 1% of the population controlling 20% of the
wealth and growing -- will now be paying their fair share to get an aging
infrastructure rebuilt, to get the power grid up to 21st century standards and
getting us to look at new ways of powering up a rebuilt economy.
The 1930s were a depressing period but they were also exciting times because so
much of the old ways were getting changed or updated so rapidly. And it wasn't
all bad. Perhaps companies that were manufacturing consumer discretionaries
were getting hit hard, but IBM was doing great collecting data for the
government and selling punch cards. Some companies will benefit this time
around too. We know your love affair with solar energy, Jim. Maybe that will
be the IBM of the 2010s -- who knows?
>
> I have been hearing thing the same from people I always considered
> "financially set". I was having coffee yesterday downtown just chilling and
> chatting with some people I always felt were super-well off. It seems that
> the very wealthy are feeling the market decline. One man confided that he has
> lost more than half his net worth in the last 2 months. I see the fear in
> peoples eyes even in wealthy areas. No one is immune here IMO. Just a
> matter of perspective. Whats wrong with driving a +5 year old car. ? If it
> is a good quality well maintained vehicle that is paid for. This disposable
> consumer waste need to be stopped anyway. It was a sad commentary on society
> anyway. I am kind of happy to see this awakening though I sympathetic to
> those who's retirement is now in question.
"Doug" <i...@k...com> wrote in message
news:49059b03$0$4951$9a6e19ea@unlimited.newshosting.
com...
> that this could be the day I lose my job. that this could be the day the stock
> market crashes.
>
> i've never been so fearful about my job security and retiring without a
> pension because of financial collapse of the stock market.
>
> i think things will get worse and it will be a long recovery.
It'll only get worse for short spurts. And it'll regain about half the
total loss in the next two or three months or so. This pattern
displayed by the Dow and Nasdaq is the very same one I
play every week with individual companies. I know it like
the back of my hand. It's a classic panic sell, which means
a huge over reaction. And panics find the bottom, a reliable
bottom, pretty quickly. Sometimes the other shoe drops
and you get a second delayed drop on the order of ten percent.
But that's usually short-lived. It'll be volatile while at the bottom
for another week or two, then start recovering.
This pattern started six months ago, it'll be at the
bottom about a month or two, and bounce back
for a couple/three months. Then find a new pattern.
That's the typical behavior for this pattern.
I fully expect 10,000 by New Years give or take.
But for now while at the bottom the markets are behaving
like a stock being day-traded. Cash in every morning and
out by dusk. No one wants to hold overnight or especially
over the weekend fearing some new bad news.
Combined with bird-flocking like volatility where something
....anything really...happens, and all hell breaks loose as everyone
begins doing the same thing, all buying or all selling. A classic signal
of a coming trend reversal. So the way to play this right now while
so volatile is to just wait for something dramatic to happen, and act
accordingly. For instance, the sell off late today, buy then and wait
for a similar dramatic rise soon. Wait for the obvious.
Ride the waves and trust in them.
This is just breathtaking to watch the volatility at the bottom.
This is a rare thing we're witnessing. And a rare opportunity.
I'm up 30% two weeks ago, and did 25% today on ticker din
(textbook [huge] short squeeze) and expect another week maybe two
of absolute day trader bliss. Almost anything out there that's drifting
is following the market up and downs to a T.
It doesn't get any easier.
This event will end up creating a much more stable market
for the future. The worst is over, you can pretty much bank on it.
For those that had their 401k's cut in half, all I can
say is if you sit tight, you'll probably get the lions
share back within a year. Look at it as a set back
time-wise, a year or two, more than just looking at
the 40% clip now.
And in a couple of years, you'll have most of it back
...and...have a safer more stable market place
And during the next couple of years, spend some time
learning about stop losses and how to apply that to your
401k's.
All Imho.
Jonathan
s
-=DirtBagŠ <D...@d...net> wrote in message
news:4905cdaf$0$33539$742ec2ed@news.sonic.net...
> Bill Reid wrote:
> > Doug <i...@k...com> wrote in message
> > news:49059b03$0$4951$9a6e19ea@unlimited.newshosting.
com...
> >
> >> that this could be the day I lose my job. that this could be the day
the
> >> stock market crashes.
> >>
> >> i've never been so fearful about my job security and retiring without a
> >> pension because of financial collapse of the stock market.
> >
> > Yeah, it's a friggin' nightmare.
> >
> > I was talking to my
> > oldest sister last night, and it just reinforced my real feelings the
> > last few weeks. She's gonna be retiring within the next decade
> > and told me she looked at her 401(k) plan losses last week
> > and literally sat on the floor and cried. She doesn't know if
> > she's going to be able to retire or have any money at all and
> > is thinking about HER "Plan B", which is something to do with
> > bankruptcy and at least she owns her home free and clear and
> > stuff like that...
> >
> > I just really feel bad for all the people who are being seriously
> > hurt by this nonsense, not just the people in my family. I DON'T
> > want to "own the world" or even a bigger piece of it if it causes
> > this kind of pain to others.
> >
> I have been hearing thing the same from people I always considered
> "financially set". I was having coffee yesterday downtown just chilling
> and chatting with some people I always felt were super-well off. It
> seems that the very wealthy are feeling the market decline. One man
> confided that he has lost more than half his net worth in the last 2
> months. I see the fear in peoples eyes even in wealthy areas.
I don't care about wealthy people who have only lost half of their
$40million fortune; I'm not crying about Warren Buffet or the Google(TM)
founders who have lost $billions.
I was talking about people like my sister. She's a friggin' school-teacher
for cryin' out loud, and her husband died this last January, obviously she
doesn't have a lot of money, and she's scared. And there's millions more
like her.
You probably don't get this, but there are actually people in this world
who do nothing more than get up every morning, go to work and work
hard all day long, play by all the rules, tell the truth, don't break the
law, don't post a bunch of lies on the Internet, pay their taxes, and
THEY'RE the ones who are REALLY getting hosed.
The rich, the fakes, the frauds, the liars, they're either OK or who
the hell cares about them, they're mostly "human" garbage anyway.
As always, there's "good guys" and "bad guys", and if you can't
justifiably figure out which is which, YOU'RE the "bad guy"...
---
William Ernest Reid
Post count: 1244
l...@l...com
<...>
Hey Mike, this 'Bill Reid' guy is cyber-stalking you!
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