phillyfed
Member
TANKING big time!
Easy, we'll be all right. We are closer to bottom then top IMO. I wouldnt sell here. I'd be buying in SLOWLY. I like having more shares for the same dollar
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12%ayear's Account Talk
- Thread starter 12%ayear
- Start date
Easy, we'll be all right. We are closer to bottom then top IMO. I wouldnt sell here. I'd be buying in SLOWLY. I like having more shares for the same dollar
hessian
Member
Philly,
Ok, a good point, well taken. There is ALOT of news today, MUCH we critically need to hear - its just an especially critical & crazy day today. Looking to hear the REALLY BIG news -there's alot to take in (and hoping not to choke forums anything less than critical). Just MHO.
VR
phillyfed
Member
A $2 Trillion cut in lending may be coming our way, according to Goldman Sachs (GS).
"The slump in global credit markets may force banks, brokerages and hedge funds to cut lending by $2 trillion and trigger a "substantial recession" in the U.S., according to Goldman Sachs Group Inc.
Goldman's forecast reduction in lending is equivalent to 7% of total U.S. household, corporate and government debt, hurting an economy already beset by the slowing housing market. Wells Fargo & Co. Chief Executive Officer John Stumpf said yesterday that the property market is the worst since the Great Depression."
link... http://www.minyanville.com/articles/index/a/14917/from/yahoo
What worries me is that Goldman Sachs was the only Brokerage firm that got the subprime mess correct. They hedged against it. :worried:
Best to stay nimble here.
Goldman's forecast reduction in lending is equivalent to 7% of total U.S. household, corporate and government debt, hurting an economy already beset by the slowing housing market. Wells Fargo & Co. Chief Executive Officer John Stumpf said yesterday that the property market is the worst since the Great Depression."
link... http://www.minyanville.com/articles/index/a/14917/from/yahoo
What worries me is that Goldman Sachs was the only Brokerage firm that got the subprime mess correct. They hedged against it. :worried:
Best to stay nimble here.
phillyfed
Member
I added 5% today.....
I too was hurt by the Tech bubble but made out pretty good in 2003.
I bought 2.2k shares of Akamai Technologies starting at $7 a share. Its now around 36. If this trades around a $100 (and it should going by its projected growth rate) I'll retire in 10 years at 46. One can dream
12%ayear
Well-known member
What the heck is going on lately? China is selling the US lead poison toys,Date rape candy, killing our pets,buying Euros,selling us polluted fish product,Sars,and the list goes on. The US government needs to wake up and start enforcing strict laws and make our country strong again. It is pretty sad that almost evry product you buy in made in China. Even the American Flag is made in China. http://biz.yahoo.com/ap/071117/holiday_toy_recall.html It is funny because the USA has strict fishing laws, meanwhile we are buying fish from polluted waters in Asia. Also, the Europeans are laughing at the US by coming here and shopping like we are a third world country. They are quick to forget the US made them who they are. They nedd to make the US DOLLAR strong again and start making products here again. I would pay more to buy MADE IN THE USA anyday.
mayday
Active member
Sounds like protectionism. Are you against free trade.
All:
I am not against free trade. These are very complex issues that require in-depth analysis. More important than blanket definitions is the substance of the issues. I am most definitely in favor of globalization and open trade. However, we have to be very careful that we don't lower our standard of living to the point of no return. No matter our difference of opinions, we must preserve national unity and cohesion. We must keep a healthy national industrial base. If we do away with our industrial base for the sake of profit, we will be at the mercy of foreign policies and we become dependent on other countries that might have adverse agendas of their own.
I am not against free trade. These are very complex issues that require in-depth analysis. More important than blanket definitions is the substance of the issues. I am most definitely in favor of globalization and open trade. However, we have to be very careful that we don't lower our standard of living to the point of no return. No matter our difference of opinions, we must preserve national unity and cohesion. We must keep a healthy national industrial base. If we do away with our industrial base for the sake of profit, we will be at the mercy of foreign policies and we become dependent on other countries that might have adverse agendas of their own.
12%ayear
Well-known member
Of course not, that is silly. Free trade does not mean that you are allowed to sell lead toys,date rape candy, poison dog food,polluted fish products, tainted toothpaste and etc. My point was that the US needs to step up restrictions to protect us from harm and spark up our manufacturing. I am sure that many Americans would not mind paying more for goods that are made here and are safer. Free trade is one thing if all things were balanced. Free Trade is made for the other countries not ours. http://www.landlinemag.com/todays_news/Daily/2007/Nov07/111207/111607-02.htm http://www.freep.com/apps/pbcs.dll/article?AID=/20071118/COL32/711180571/1070/OPINION02 Here is the reason why the USA is easy on them.....
American consumers need to send a message that cheap-as-possible is not the main standard here. Are we afraid of offending China -- which holds $400 billion of U.S. debt -- by inspecting and returning bad goods? American manufacturers who contract production to China also need to be more insistent about U.S. standards.
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grandma
Well-known member
Every company, manufacturer needs to be held responsible for the products they produce - whether those articles are produced in America, or whether they are OutSourced partially or totally. They cannot be allowed to say they have no control over what happens in their business in another country. If this is so, then bring it home; take responsiblity for what is paying for their personal upkeep, luxurious or otherwise. This is like sending our Young'uns footloose into The Village for their care, regardless of who or whom will be their mentor. We bought some new utensils for the church kitchen the other day. Most were made in China; now tell me why I should feel secure about that? :suspicious:Free Trade is made for the other countries not ours.
.....American manufacturers who contract production to China also need to be more insistent about U.S. standards.
...lacing kids toys with lead? ..how about trying whole communities???
Because 'Corporate America' is making Billions doing business this way
Would you seriously spend more for product made/grown/farmed in the states?
On my desk at work; reading lamp - Made in China, mouse - Made in China, Computer - assembled in China, Printer - Made in China, modem/router - Made in China.
Not to mention China's major contribution to global warming/pollution;, if you believe in this theory, it is very serious.
Talk about the price of a barrel of oil. This is going to cause major financial and economic issues in this country.
AND, to top it all off, my TSP is getting toasted and I'm affraid to pull out for fear of missing the 2% gain that's suppose to be coming.
There, I feel better.
kaitlinsnana
Member
Until we can tell the middle east to eat sand and China to sell their poison food and toys elsewhere, they own us. PC and greed have castrated us. I hope someone, somewhere has a plan. A country with a weak currency and no balls is in deep trouble.
Now, I feel better too.
Gail
Now, I feel better too.
Gail
James48843
Well-known member
Nice.
Mind if I steal that for a signature line?
nnuut
Moderator | TSP Legend
fabijo
Well-known member
12%ayear
Well-known member
no, all yours
hessian
Member
Hey Fabijo,
Awesome video, inspirational! One response to the whole thing!
It ought to be Ben schooling Ron Paul! And, our House Reps., and Senators. And, our Treasury Secretary. And, our President, and vice-President, and our spend-happy Republican administration, and the tax & spend-happy Democrats, and, and, and...
He's is correct on one thing - It is Ben's job is to pass out bandaids!
VR
Awesome video, inspirational! One response to the whole thing!
It ought to be Ben schooling Ron Paul! And, our House Reps., and Senators. And, our Treasury Secretary. And, our President, and vice-President, and our spend-happy Republican administration, and the tax & spend-happy Democrats, and, and, and...
He's is correct on one thing - It is Ben's job is to pass out bandaids!
VR
12%ayear
Well-known member
I know many are getting whacked and leaving or going to the sideline. However, this is the best time to be in. Fear always loses in these kind of markets. Should ofs and ifs do not count. Focus on your account balance as of today and look at the future. Do not look at what you had or you will go nuts. I still strongly believe we will rally back into the 14000s before the new year.
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