12%ayear's Account Talk

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That is why this mailing process sucks. You can give back all your profits by the time they receive your TSP-50 form. We are going to retest new lows, I am going to be patient and wait. Why jump in now, when you are unable to control your account.:mad:
 
More layoffs. This one is bad because it is telling us builders and homeowners are not remodeling and building. http://www.newschannel9.com/news/mohawk_967828___article.html/plant_dalton.html
366 workers at the Mohawk plant in Dahlonega, Ga. will be without a job in June. The Calhoun-based company is one of northeast Georgia's largest employers.
Worldwide, Mohawk has about 36,000 employees.
In September, the company announced that it was shutting Mohawk Home plants in Dalton and Calhoun as it downsizes. It also announced the closure of a 158-person plant in the Rome area in February, and that of a Dalton plant with 66 employees.
 
VirginiaBob said:
I disagree on using opinion to say, "We are in a recession". I think we have to stick to facts and use the actual definitions of a recession which says we need two consecutive quarters of negative GDP. So far, we haven't had one. I know we are in bad times, but let's not let the media hype it up to a recession until it technically is one.
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If you do not believe me, take it from this guy.:) ;) Former Federal Reserve chairman Alan Greenspan said Tuesday the U.S. economy was in recession, adding it would be appropriate to use public funds to reverse the effects of the nation's credit crisis.

Greenspan appeared on CNBC television and defended himself against charges his fiscal policies helped create the subprime lending crisis which sparked the current economic downturn.

He said his decisions were rationally based on available evidence at the time.

"I have no regrets on any of the Federal Reserve policies that we initiated back then because I think they were very professionally done," he said.

He went further than the current Fed in saying the U.S. economy is actually in a recession, but he didn't say how deep it would be or how long it would last.
 
Ex Fed Hero Volcker Blasts Bernanke Bear Bailout, Greenspan

Henry Blodget | April 9, 2008 8:33 AM The former Fed chairman who saved the US economy from a decade of stagflation, wealth destruction, and horrendous stock-market performance in the 1970s, Paul Volcker, chided the current Fed for bailing out Bear Stearns. He also knocked the performance of another one of his successors, Alan Greenspan, who is currently telling anyone who will listen that he had nothing to do with the country's mounting economic problems. The NYT:“Out of perceived necessity, sweeping powers have been exercised in a manner that is neither natural nor comfortable for a central bank,” Mr. Volcker told members of the Economic Club of New York...
Mr. Volcker also implicitly questioned Mr. Greenspan’s cheerleading of the “bright new financial system,” that “for all its talented participants, for all its rich rewards, has failed the test of the marketplace.”
Meanwhile, the Fed minutes released yesterday show that the Fed is now scared about both a deep recession and inflation, and is increasingly in disagreement about what it should do next:
The dissenters — Richard W. Fisher of the Dallas Fed and Charles I. Plosser of the Philadelphia branch — said that a rate cut would further fuel inflation, which has grown faster than anticipated on the back of high prices for gasoline and food.
Mr. Plosser argued that the Fed “could not afford to wait until there was clear evidence that inflation expectations were no longer anchored, as by then it would be too late to prevent a further increase in inflation pressures.”
At this rate, it will not be long before the current consensus of a "short, mild recession" and "second-half recovery" descends into the realization that we are, in fact, screwed
 
12%ayear said:
Ex Fed Hero Volcker Blasts Bernanke Bear Bailout, Greenspan....

At this rate, it will not be long before the current consensus of a "short, mild recession" and "second-half recovery" descends into the realization that we are, in fact, screwed
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Great post 12! I'm praying this thing doesn't get really ugly but sometimes I feel like I'm farting against a thunderstorm. :blink:
 
Re Volker's comments/concerns. My closing paragraph in letter to the FRTIB follows:
More important than frequent fund transfers affecting the value of shares and thus an investor’s value of their positions is a well balanced mix of funds available to the investor or participant. If any government is not committed to maintaining the value of its currency, then prudent investors of that country need ways to invest in markets that may preserve the value of their currency. Such investments may be in various commodities including other currencies. The FRTIB should quickly address this concern as it is probably having a far greater negative impact on passive long term investors than frequent IFTs.
 
I am mailing in a TSP-50 to go 100% in the S Fund today.However; once I am in and I see any profit, I will be mailing one to go 100% in the G Fund ASAP. The best thing to do is fill out the entire TSP-50 form without the ETF part, make about 50 copies and have them ready to mail in. When you are ready, just fill in the ETF part and mail it. I also filled out about 10 envelopes and put stamps on them. So I can fire away ASAP. I will post my history of TSP-50 mailing to allow TSPers see what effect it has. Once they receive it and post it in my account, I will let you know. I plan on making some $$$$$$. :);)
 
anidoc said:
Hey! Henry found the remote! (He's finally watching the same channel as the rest of the world);)

LMAO! Like not saying "the R word" can keep it from being a reality! Keep following and believing your GOP shepherds, little sheeple!:D
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Hey ANidoc, I mailed in my 100% ETF into the S FUND this morning.:)
 
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