Forum Replies Created
-
AuthorPosts
-
March 1, 2009 at 11:23 AM in reply to: CNBC Anchors Mortified that Ron Paul Was Allowed Air Time #358128March 1, 2009 at 11:23 AM in reply to: CNBC Anchors Mortified that Ron Paul Was Allowed Air Time #358160
stockstradr
ParticipantThe press has become an embittered biased organization that no longer reports the facts of the news but instead favors blatant propaganda.
Exactly!
Ron Paul is a true American hero of the finest caliber.
I was so pissed off when later in those hearings, Barney Frank cut off Ron Paul’s brilliant questioning of Bernanke in a manner that was insulting to Ron Paul.
Barney Frank has long been in bed with the banking industry. Barney Frank helped create the financial crisis and economic depression.
March 1, 2009 at 11:23 AM in reply to: CNBC Anchors Mortified that Ron Paul Was Allowed Air Time #358265stockstradr
ParticipantThe press has become an embittered biased organization that no longer reports the facts of the news but instead favors blatant propaganda.
Exactly!
Ron Paul is a true American hero of the finest caliber.
I was so pissed off when later in those hearings, Barney Frank cut off Ron Paul’s brilliant questioning of Bernanke in a manner that was insulting to Ron Paul.
Barney Frank has long been in bed with the banking industry. Barney Frank helped create the financial crisis and economic depression.
stockstradr
ParticipantLove this post on Jan 30, from esmith
History (by way of the markets) has responded by doing exactly the OPPOSITE of what he predicted. And that’s no surprise.
He recommended to BUY stocks, but stocks promptly fell (S&P500) by 10%He recommended to NOT buy gold and gold miners. Gold responded by climbing from $900 to $980 per ounce.
He recommended to BUY the commodity miners that mine the bulk (not precious) materials. Those stocks have tanked.
He thought European stocks were better to buy. Wrong again.
He thought Asian stocks were a smart buy. So far he’s been right on that. (Even a broken clock tells time correctly at two moments each day.)
This is my post for this month. See you next month. I hope you are all short this stock market. If any of you are STILL stupid enough to long stocks in this market, I recommend you simply put your money in your kitchen oven and turn the dial to BROIL. Same effect on your money, but faster.
Here is esmiths’ post (01/30/2009) if you want to have a few laughs:
Wow, some really bad advice in this thread.
We’re 16 months into the recession and 15 months into the bear market. 3.8% annualized GDP decline on front pages of newspapers. Expectations of the worst recession since WW2 fully priced in to the stock market. Unimaginable P/E’s on every corner. Government fully committed to print as much money as necessary to turn things around (spending bills passing even despite every single republican voting against).
If you sell today, a year or two from now you’ll regret it. If you’re all-cash and you don’t go in today at least partially, you’ll regret it too. Buy miners (but not gold!), buy exporters, buy NASDAQ index funds.
Stay away from gold and gold miners. Anything is better than gold: forex, asian stocks, european stocks, even U.S. stocks. Remember about the ticking time bomb which is the 700 metric tons of gold in vaults of GLD, ready to rush into the market when the recession is officially over.
stockstradr
ParticipantLove this post on Jan 30, from esmith
History (by way of the markets) has responded by doing exactly the OPPOSITE of what he predicted. And that’s no surprise.
He recommended to BUY stocks, but stocks promptly fell (S&P500) by 10%He recommended to NOT buy gold and gold miners. Gold responded by climbing from $900 to $980 per ounce.
He recommended to BUY the commodity miners that mine the bulk (not precious) materials. Those stocks have tanked.
He thought European stocks were better to buy. Wrong again.
He thought Asian stocks were a smart buy. So far he’s been right on that. (Even a broken clock tells time correctly at two moments each day.)
This is my post for this month. See you next month. I hope you are all short this stock market. If any of you are STILL stupid enough to long stocks in this market, I recommend you simply put your money in your kitchen oven and turn the dial to BROIL. Same effect on your money, but faster.
Here is esmiths’ post (01/30/2009) if you want to have a few laughs:
Wow, some really bad advice in this thread.
We’re 16 months into the recession and 15 months into the bear market. 3.8% annualized GDP decline on front pages of newspapers. Expectations of the worst recession since WW2 fully priced in to the stock market. Unimaginable P/E’s on every corner. Government fully committed to print as much money as necessary to turn things around (spending bills passing even despite every single republican voting against).
If you sell today, a year or two from now you’ll regret it. If you’re all-cash and you don’t go in today at least partially, you’ll regret it too. Buy miners (but not gold!), buy exporters, buy NASDAQ index funds.
Stay away from gold and gold miners. Anything is better than gold: forex, asian stocks, european stocks, even U.S. stocks. Remember about the ticking time bomb which is the 700 metric tons of gold in vaults of GLD, ready to rush into the market when the recession is officially over.
stockstradr
ParticipantLove this post on Jan 30, from esmith
History (by way of the markets) has responded by doing exactly the OPPOSITE of what he predicted. And that’s no surprise.
He recommended to BUY stocks, but stocks promptly fell (S&P500) by 10%He recommended to NOT buy gold and gold miners. Gold responded by climbing from $900 to $980 per ounce.
He recommended to BUY the commodity miners that mine the bulk (not precious) materials. Those stocks have tanked.
He thought European stocks were better to buy. Wrong again.
He thought Asian stocks were a smart buy. So far he’s been right on that. (Even a broken clock tells time correctly at two moments each day.)
This is my post for this month. See you next month. I hope you are all short this stock market. If any of you are STILL stupid enough to long stocks in this market, I recommend you simply put your money in your kitchen oven and turn the dial to BROIL. Same effect on your money, but faster.
Here is esmiths’ post (01/30/2009) if you want to have a few laughs:
Wow, some really bad advice in this thread.
We’re 16 months into the recession and 15 months into the bear market. 3.8% annualized GDP decline on front pages of newspapers. Expectations of the worst recession since WW2 fully priced in to the stock market. Unimaginable P/E’s on every corner. Government fully committed to print as much money as necessary to turn things around (spending bills passing even despite every single republican voting against).
If you sell today, a year or two from now you’ll regret it. If you’re all-cash and you don’t go in today at least partially, you’ll regret it too. Buy miners (but not gold!), buy exporters, buy NASDAQ index funds.
Stay away from gold and gold miners. Anything is better than gold: forex, asian stocks, european stocks, even U.S. stocks. Remember about the ticking time bomb which is the 700 metric tons of gold in vaults of GLD, ready to rush into the market when the recession is officially over.
stockstradr
ParticipantLove this post on Jan 30, from esmith
History (by way of the markets) has responded by doing exactly the OPPOSITE of what he predicted. And that’s no surprise.
He recommended to BUY stocks, but stocks promptly fell (S&P500) by 10%He recommended to NOT buy gold and gold miners. Gold responded by climbing from $900 to $980 per ounce.
He recommended to BUY the commodity miners that mine the bulk (not precious) materials. Those stocks have tanked.
He thought European stocks were better to buy. Wrong again.
He thought Asian stocks were a smart buy. So far he’s been right on that. (Even a broken clock tells time correctly at two moments each day.)
This is my post for this month. See you next month. I hope you are all short this stock market. If any of you are STILL stupid enough to long stocks in this market, I recommend you simply put your money in your kitchen oven and turn the dial to BROIL. Same effect on your money, but faster.
Here is esmiths’ post (01/30/2009) if you want to have a few laughs:
Wow, some really bad advice in this thread.
We’re 16 months into the recession and 15 months into the bear market. 3.8% annualized GDP decline on front pages of newspapers. Expectations of the worst recession since WW2 fully priced in to the stock market. Unimaginable P/E’s on every corner. Government fully committed to print as much money as necessary to turn things around (spending bills passing even despite every single republican voting against).
If you sell today, a year or two from now you’ll regret it. If you’re all-cash and you don’t go in today at least partially, you’ll regret it too. Buy miners (but not gold!), buy exporters, buy NASDAQ index funds.
Stay away from gold and gold miners. Anything is better than gold: forex, asian stocks, european stocks, even U.S. stocks. Remember about the ticking time bomb which is the 700 metric tons of gold in vaults of GLD, ready to rush into the market when the recession is officially over.
stockstradr
ParticipantLove this post on Jan 30, from esmith
History (by way of the markets) has responded by doing exactly the OPPOSITE of what he predicted. And that’s no surprise.
He recommended to BUY stocks, but stocks promptly fell (S&P500) by 10%He recommended to NOT buy gold and gold miners. Gold responded by climbing from $900 to $980 per ounce.
He recommended to BUY the commodity miners that mine the bulk (not precious) materials. Those stocks have tanked.
He thought European stocks were better to buy. Wrong again.
He thought Asian stocks were a smart buy. So far he’s been right on that. (Even a broken clock tells time correctly at two moments each day.)
This is my post for this month. See you next month. I hope you are all short this stock market. If any of you are STILL stupid enough to long stocks in this market, I recommend you simply put your money in your kitchen oven and turn the dial to BROIL. Same effect on your money, but faster.
Here is esmiths’ post (01/30/2009) if you want to have a few laughs:
Wow, some really bad advice in this thread.
We’re 16 months into the recession and 15 months into the bear market. 3.8% annualized GDP decline on front pages of newspapers. Expectations of the worst recession since WW2 fully priced in to the stock market. Unimaginable P/E’s on every corner. Government fully committed to print as much money as necessary to turn things around (spending bills passing even despite every single republican voting against).
If you sell today, a year or two from now you’ll regret it. If you’re all-cash and you don’t go in today at least partially, you’ll regret it too. Buy miners (but not gold!), buy exporters, buy NASDAQ index funds.
Stay away from gold and gold miners. Anything is better than gold: forex, asian stocks, european stocks, even U.S. stocks. Remember about the ticking time bomb which is the 700 metric tons of gold in vaults of GLD, ready to rush into the market when the recession is officially over.
stockstradr
ParticipantLeaving $$$ in a 401K, regardless of whether the $$$ are sitting in equities or a cash fund, leaves an investor in paper.
I used to think such comments were foolish, extreme overreaction and impractical.
Now I’ve become a convert, believing above statement about risks of 401(k)’s is correct.
However, I don’t agree there is any real risk of a total societal (and economic) meltdown that sends us back to sleeping in caves, and all bank accounts, incl. 401(k), become worthless. That won’t happen. It will be something more sinister.
The real danger is that US government will eventually have to go after the money in 401(k)’s. They will steal the money from 401(k)’s by dramatically increasing the taxes to say 50%, or it could be more extreme (nationalization)
By fairly conservative estimates the US government debt + obligations is over 53 trillion. The GDP runs about 13 to 14 trillion annually. Those numbers and grade school math + common sense brings you to the obvious conclusion the USA will face bankruptcy unless extreme measures are taken such as stealing our 401(k)’s, and devaluing the dollar…etc. Conservative estimates also indicate federal taxes will eventually have to go up to at least 40% just to keep the government afloat.
I think a key related question is whether or not our government keeps its promise to not tax retirement withdrawals from ROTH IRA’s.
Looking at the brighter side of getting laid off, the loss of income for that year might pull one’s MAGI below the threshold allowing partial or full conversion of Tradition IRA to Roth IRA.
Currently I have only 25% of my entire retirement portfolio in a ROTH IRA; the rest is in my Traditional IRA. It was a nice coincidence that last year, it was the ROTH IRA that I was able to increase by 82% year-on-year. So I had my highest level investment return in my most tax-protected account. Hopefully the government will NEVER get a dime of that.
stockstradr
ParticipantLeaving $$$ in a 401K, regardless of whether the $$$ are sitting in equities or a cash fund, leaves an investor in paper.
I used to think such comments were foolish, extreme overreaction and impractical.
Now I’ve become a convert, believing above statement about risks of 401(k)’s is correct.
However, I don’t agree there is any real risk of a total societal (and economic) meltdown that sends us back to sleeping in caves, and all bank accounts, incl. 401(k), become worthless. That won’t happen. It will be something more sinister.
The real danger is that US government will eventually have to go after the money in 401(k)’s. They will steal the money from 401(k)’s by dramatically increasing the taxes to say 50%, or it could be more extreme (nationalization)
By fairly conservative estimates the US government debt + obligations is over 53 trillion. The GDP runs about 13 to 14 trillion annually. Those numbers and grade school math + common sense brings you to the obvious conclusion the USA will face bankruptcy unless extreme measures are taken such as stealing our 401(k)’s, and devaluing the dollar…etc. Conservative estimates also indicate federal taxes will eventually have to go up to at least 40% just to keep the government afloat.
I think a key related question is whether or not our government keeps its promise to not tax retirement withdrawals from ROTH IRA’s.
Looking at the brighter side of getting laid off, the loss of income for that year might pull one’s MAGI below the threshold allowing partial or full conversion of Tradition IRA to Roth IRA.
Currently I have only 25% of my entire retirement portfolio in a ROTH IRA; the rest is in my Traditional IRA. It was a nice coincidence that last year, it was the ROTH IRA that I was able to increase by 82% year-on-year. So I had my highest level investment return in my most tax-protected account. Hopefully the government will NEVER get a dime of that.
stockstradr
ParticipantLeaving $$$ in a 401K, regardless of whether the $$$ are sitting in equities or a cash fund, leaves an investor in paper.
I used to think such comments were foolish, extreme overreaction and impractical.
Now I’ve become a convert, believing above statement about risks of 401(k)’s is correct.
However, I don’t agree there is any real risk of a total societal (and economic) meltdown that sends us back to sleeping in caves, and all bank accounts, incl. 401(k), become worthless. That won’t happen. It will be something more sinister.
The real danger is that US government will eventually have to go after the money in 401(k)’s. They will steal the money from 401(k)’s by dramatically increasing the taxes to say 50%, or it could be more extreme (nationalization)
By fairly conservative estimates the US government debt + obligations is over 53 trillion. The GDP runs about 13 to 14 trillion annually. Those numbers and grade school math + common sense brings you to the obvious conclusion the USA will face bankruptcy unless extreme measures are taken such as stealing our 401(k)’s, and devaluing the dollar…etc. Conservative estimates also indicate federal taxes will eventually have to go up to at least 40% just to keep the government afloat.
I think a key related question is whether or not our government keeps its promise to not tax retirement withdrawals from ROTH IRA’s.
Looking at the brighter side of getting laid off, the loss of income for that year might pull one’s MAGI below the threshold allowing partial or full conversion of Tradition IRA to Roth IRA.
Currently I have only 25% of my entire retirement portfolio in a ROTH IRA; the rest is in my Traditional IRA. It was a nice coincidence that last year, it was the ROTH IRA that I was able to increase by 82% year-on-year. So I had my highest level investment return in my most tax-protected account. Hopefully the government will NEVER get a dime of that.
stockstradr
ParticipantLeaving $$$ in a 401K, regardless of whether the $$$ are sitting in equities or a cash fund, leaves an investor in paper.
I used to think such comments were foolish, extreme overreaction and impractical.
Now I’ve become a convert, believing above statement about risks of 401(k)’s is correct.
However, I don’t agree there is any real risk of a total societal (and economic) meltdown that sends us back to sleeping in caves, and all bank accounts, incl. 401(k), become worthless. That won’t happen. It will be something more sinister.
The real danger is that US government will eventually have to go after the money in 401(k)’s. They will steal the money from 401(k)’s by dramatically increasing the taxes to say 50%, or it could be more extreme (nationalization)
By fairly conservative estimates the US government debt + obligations is over 53 trillion. The GDP runs about 13 to 14 trillion annually. Those numbers and grade school math + common sense brings you to the obvious conclusion the USA will face bankruptcy unless extreme measures are taken such as stealing our 401(k)’s, and devaluing the dollar…etc. Conservative estimates also indicate federal taxes will eventually have to go up to at least 40% just to keep the government afloat.
I think a key related question is whether or not our government keeps its promise to not tax retirement withdrawals from ROTH IRA’s.
Looking at the brighter side of getting laid off, the loss of income for that year might pull one’s MAGI below the threshold allowing partial or full conversion of Tradition IRA to Roth IRA.
Currently I have only 25% of my entire retirement portfolio in a ROTH IRA; the rest is in my Traditional IRA. It was a nice coincidence that last year, it was the ROTH IRA that I was able to increase by 82% year-on-year. So I had my highest level investment return in my most tax-protected account. Hopefully the government will NEVER get a dime of that.
stockstradr
ParticipantLeaving $$$ in a 401K, regardless of whether the $$$ are sitting in equities or a cash fund, leaves an investor in paper.
I used to think such comments were foolish, extreme overreaction and impractical.
Now I’ve become a convert, believing above statement about risks of 401(k)’s is correct.
However, I don’t agree there is any real risk of a total societal (and economic) meltdown that sends us back to sleeping in caves, and all bank accounts, incl. 401(k), become worthless. That won’t happen. It will be something more sinister.
The real danger is that US government will eventually have to go after the money in 401(k)’s. They will steal the money from 401(k)’s by dramatically increasing the taxes to say 50%, or it could be more extreme (nationalization)
By fairly conservative estimates the US government debt + obligations is over 53 trillion. The GDP runs about 13 to 14 trillion annually. Those numbers and grade school math + common sense brings you to the obvious conclusion the USA will face bankruptcy unless extreme measures are taken such as stealing our 401(k)’s, and devaluing the dollar…etc. Conservative estimates also indicate federal taxes will eventually have to go up to at least 40% just to keep the government afloat.
I think a key related question is whether or not our government keeps its promise to not tax retirement withdrawals from ROTH IRA’s.
Looking at the brighter side of getting laid off, the loss of income for that year might pull one’s MAGI below the threshold allowing partial or full conversion of Tradition IRA to Roth IRA.
Currently I have only 25% of my entire retirement portfolio in a ROTH IRA; the rest is in my Traditional IRA. It was a nice coincidence that last year, it was the ROTH IRA that I was able to increase by 82% year-on-year. So I had my highest level investment return in my most tax-protected account. Hopefully the government will NEVER get a dime of that.
stockstradr
ParticipantSD Realtor,
thank you for a valuable opinion on that part of CV where my friend has house. The likely pricing decline in that area something I never discuss with those friends that own that CV house. No way would I rub salt in wound.
stockstradr
ParticipantSD Realtor,
thank you for a valuable opinion on that part of CV where my friend has house. The likely pricing decline in that area something I never discuss with those friends that own that CV house. No way would I rub salt in wound.
-
AuthorPosts
