I've been hearing some very scary worldwide talk of the international Economic situation. A friend e-mailed me this first -







Next I Talked to a friend's dad that works at the race horse track in Southern California and he said he was talking to a VERY rich money guy that said we are going into a second, very long, MUCH WORSE recession and we ain't seen "Nothing Yet". It's gonna be bad....

Last on MSNBC this morning there was a guy who studies the nature of recessions and we won't believe what is coming next. He said it's gonna be very big, very bad, very long and there's no stopping it at this point.

ANY ECONOMICS EXPERTS AGREE WITH ALL THIS? IF IT'S TRUE WHAT SHOULD WE DO TO STAY SAFE AND NOT LOOSE OUR MONEY? Any and all advice will be appreciated (NO POLITICS AT ALL PLEASE)

I've always been poor, so recessions don't affect me... Welcome to my world!!!

Being frugal with money goes against the grain of being a Stones fan.

[blogs.wsj.com]

You can short stocks or buy reverse ETF's in a down market. If the market drops you can make a killing.



Edited 1 time(s). Last edit at 2011-09-30 20:36 by More Hot Rocks.

yeah, i pretty much agree. however, i would not say so with 100% certainty. economies are driven in part by trust, so as long as enough trust exists then we will weather the storm, who knows how long. maybe long enough to recover, maybe not. unfortunately, dumb, blind trust is about all that's left to save it. it's only holding up now due to the occasional, timely gov't intervention.

More Hot Rocks is correct. by no means would i put all of my money into an rEFT, especially with a buy and hold strategy. but a small percent would reap BIG gains in a crash. i've been trading professionally for a little over two years, and casually since March, 2009. got in right after the lows. turned $10k into almost $300k after taxes. was very lucky. would have made a lot more had i been smart about it. these days, i'm out of the market but watching CNBC all day, every day. i'm by no means one of the big boys, and not one of the best traders around.. but experienced enough to know to stay out right now. all of my money is in US cash and a several ounces of gold - the real stuff, no EFT. started buying gold when i was young, it was around $35/oz back then. have bought several ounces every year since then, up until this year - it's a bubble now... may crash some more.
hard to say what is the best move. everybody is on edge. nothing is safe... not cash, not precious metals.. no one knows for sure. you might look into a hedge fund. everything is a risk. good luck to all, i hope we survive it.
if you're curious.. i bought 3k shr of LVS (Las Vegas Sands) at $1.90/shr in March '09 and sold at $51/shr. later bought 5k shr of JAZZ (Jazz pharmaceutical) at $7.50/shr, sold at $34/shr. had some other good ones, too. those were the best. March '09 was a great time to get in. best decision i ever made.



Edited 3 time(s). Last edit at 2011-09-30 21:47 by josepi.

According to British banker Joanathan Davis, all the global banks are insolvent.

Interestingly, he said that the UK did not recover from the 1929 crash until 1954.

Capitalism is done. And Marx was right.

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TooTough
Capitalism is done. And Marx was right.

i tried to stay non-political.. but you are right. greed destroyed it. Kudos to you, too, Father Ted. spot on! if you ask me, we all need to be Street Fighting Men.. REAL ones!

just found out... Eastman Kodak is down over 60% today!!! WTF!! bankruptcy rumors.



Edited 5 time(s). Last edit at 2011-09-30 21:56 by josepi.

US government = Bernie Madoff.




Raise your glass to the hard working people
Let's drink to the uncounted heads
Let's think of the wavering millions
Who need leaders but get gamblers instead

For want of a crystal ball... The trader in the vid is very much hoping for a downturn and by spreading this video here and elsewhere his rather pessimistic view is only perpetuated, giving rise to the fear and uncertainly that prompted this thread and I'm sure many others. It seems that when given a choice of optimism or pessimism, many tend to the latter, especially when faced with the unknown. How many times have the so called experts been correct in predicting economic fortunes? Very few saw the 2008 downturn coming and one hears very often that the markets dipped because financial analysts predictions did not meet with reality. The opposite is also true. The truth seems to be that no one really knows with 100% certainty what will happen and so when faced with this unpredictability fear more often than not prevails...if you let it. Remember FDR's inaugural speech?

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Father Ted
Interestingly, he said that the UK did not recover from the 1929 crash until 1954.

Don't you think that a certain conflict from 1939-45 might have hindered that recovery?

Hush hush ,CCM .
I"d like to call you right now so we talk on politics but unfortunately , my English isn't good enough -



I am a Frenchie ,as Mick affectionately called them in the Old Grey Whistle Test in 1977 .

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Stones62
For want of a crystal ball... The trader in the vid is very much hoping for a downturn and by spreading this video here and elsewhere his rather pessimistic view is only perpetuated, giving rise to the fear and uncertainly that prompted this thread and I'm sure many others. It seems that when given a choice of optimism or pessimism, many tend to the latter, especially when faced with the unknown. How many times have the so called experts been correct in predicting economic fortunes? Very few saw the 2008 downturn coming and one hears very often that the markets dipped because financial analysts predictions did not meet with reality. The opposite is also true. The truth seems to be that no one really knows with 100% certainty what will happen and so when faced with this unpredictability fear more often than not prevails...if you let it. Remember FDR's inaugural speech?

I like your reasoning, and I try to stay optimistic, but I have a hard time being fearless with money.

Nowadays (2008-2011) we say goodbye to the 20th Century, the years 1946-2010.

We will meet completely NEW times

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Edith Grove
I have a hard time being fearless with money.

Disco still sucks





The Floyd do it better

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TooTough
Capitalism is done. And Marx was right.

Give me one example, just one, where Marxism was not a total and abject failure...

Capitalism and free markets, when left to their own devices, are two of the greatest positive forces this planet has ever seen; however too much regulation and too much government have hindered growth and advancement for the forseeable future.

Many people knew that for years... you put the Goldman Sachs' candidate in the White House and then complain...

Vote for Ron Paul, or just stop whining.

Signed: someone working in an inv. bank in London and who bought gold and silver a year ago.

.......YEP the world sure needs a new Stones album...Come on Mick tell us what ya think of it all...



ROCKMAN

Eat the rich.


Someone please start the revolution

Thanks

standing by.

I've felt for some time this is 'the real thing'...and will continue to get very bad.

(The following is not to get political...just a fact)

Because of the Iraq and Afghanistan wars, and the collapse of the housing marketing in the US, and very nearly the entire banking system, a huge amount of debt was needed in the last decade, to fund the wars, and 'save' the system.

That has led, understandably, for an EXTREME distaste to borrow more amongst the general public. The only 'political options' it seems available to the two US parties, is to tax more, or to cut spending.

Both strategies result in contraction, creating a deeper, longer recession, or even depression.

No one can talk about 'borrowing more' because it is political suicide. So, what we have happening now, is exactly the reaction we had in the 30's.

I think this may in fact be worse now though. What got the US, and in fact the world out of the depression, was the additional borrowing that was required to build the war machine in the US, that became the engine (and what Eisenhower later warned as the militiary-industrial complex) for growth pulling the world out of depression. Later big spending initiatives like the Marshall Plan in Europe further helped.

All this STILL took decades to right, and required a World War.

I just don't think a World War is prudent, and I don't think it would solve the situation this time.

...so, is the analyst on the clip right? Maybe, but one thing is that no one knows for sure. Given the evidence, prudence is probably not a bad thing.

In Our Lives, We Ain't Seen Nothing Yet

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TooTough
Capitalism is done. And Marx was right.

Yeap - it,s that easy!!

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NICOS

nice nuggets!

"Start the revolution", "Marx was right", and so on... typical reactions from people who have not read Marx, know nothing about finance, or about revolutions (revolutions are always for the bank's profit).

Instead of running like headless chicken, ask yourself the following:
-why White House = Goldman Sachs
-why was the Gold standard illegally suppressed. (unconstitutional)
-why is Ron Paul ignored by your medias.

Come on guys, get this thread out of here. Plenty of other places to spew the BS.

Brb I have to go take a beepee.

Ahhh that felt good

Someone light a match or open the window.



Edited 1 time(s). Last edit at 2011-10-01 02:05 by M4000D.

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filstan
Come on guys, get this thread out of here. Plenty of other places to spew the BS.

Why don't you just get out of this thread? It's topical, non political, and is probably of interest to a lot of IORR's.

You don't have to lurk where you don't like!

Looks like Bank of America is doing it part. Starting early next year BOC will begin charging customers $60.00 per year to access their own money using debit cards.[abcnews.go.com]


hey!!!... whats that sound? ....
hopefully people running away from BOC as fast as they can