Nov 7, 2012 at 6:04 pm #1295863
I'm an optimist so I put some of my cash into the stock market today given its 2% drop.
Are you an optimist about the stock market?Nov 7, 2012 at 6:08 pm #1926965
I don't understand these things.
I put my money in American made products.
Things i can use, touch, keep and trade.
The rest is imaginary.
Okay.. this deserves and explanation.
While i respect you putting your money into the stock market, let me expalin why i think it is an imaginary gamble.
A bullet is a bullet forever.
A sleeping bag is a sleeping bag forever.
An ear of corn feeds a person.
A piece of paper, such as a federal reserve note or stock certificate, is always a piece of paper.
Actually stock is a collection of electrons stored in random access memory in locations unknown.
In the event of total disaster what would be the value of a gold bar as opposed to an ear of corn or a sleeping bag?
Personally i am not a prepper or a hoarder.
Being alone, i keep only what i need for myself and a little extra for a rainy day or an earthquake or whatever.
Beyond that, i think it's best to move on so huge amounts of stuff would be a hinderance.
Accumulating wealth, be it cars and gold bars and stock or food, and guns, and bills, seems like an encumberance.
How much time we spend accumulating and how little spent experiencing…
If i had a family i am sure i would feel differently.
I think that is the true "gold" of life.
You all out there raising kids.. you are already as rich as rich can be.Nov 7, 2012 at 6:31 pm #1926969
@owareLocale: Steptoe Butte
I think things will get better, however there are many that will be buying more guns and
ammo since the election, so perhaps stock in guns and ammo companies would be the best choice.Nov 7, 2012 at 6:32 pm #1926970
"I don't understand these things.
I put my money in American made products.
Things i can use, touch, keep and trade.
The rest is imaginary."
I agree with all 4 points.
However, I must add, some of the money I've made from the stock market goes toward purchasing these products.
DarylNov 7, 2012 at 6:41 pm #1926972
The Dow Jones quietly rose by over 200 points on Tuesday due to election hype so today's drop isn't as dramatic as it appears.
RyanNov 7, 2012 at 6:45 pm #1926973
Let me apologize for my hella slow internet tonight.
I did not mean to sneak an edit in there on everyone.Nov 7, 2012 at 6:51 pm #1926975
You are absolutely correct!
Everyone of my construction friends and co-workers are talking about getting more guns.
They are sure that Obama and the Dem Senate combined with our Dem Gocernoer and super majority in Cali will pass stricter gun laws soon.
Gun sales.. yea if i were to buy stock.. I would buy RUGER stock.. RIGHT NOW!Nov 7, 2012 at 6:53 pm #1926977
Smith & Wesson was one of the few gainers today.Nov 7, 2012 at 6:57 pm #1926978
I agree with everything in your edited version too.
No kids here either.Nov 7, 2012 at 7:03 pm #1926980
I am going to stop editing.
I am a crappy typist.. i know.
It is hard to type with plumbers burnt fingers.. sorry.
One thing is certain, i am not going to get into the "gun" debate here.
AND, if the laws get any more strict here in Cali I will move my skilled plumber's butt and my small arms to New Mexico or Arizona, and that is the truth.Nov 7, 2012 at 7:09 pm #1926982
if I was at an earlier stage in life I'd probably be more optimistic about the stock market, as I'm getting close to retirement I've moved all of my 457K $ slowly out of stocks and into a mix of bonds and fixed rate funds.
I sleep much better at night now :)Nov 7, 2012 at 8:14 pm #1926996
I love the stock market. It's one way to take the pulse of this fruit salad we call America. I spend a few hours every morning trying to snag a silly downward blip on some worthy stock. I mainly do day trades, and it's sort of like being in Vegas. Yesterday, I scored a quick $1000, cashed out, then today I put it all back in on a volitile stock that I believe in. We'll see what tomorrow brings. All this gives me time to read every BPL post and check my e-mails, while I wait for the market to get interesting again. Beats raking leaves… And, I'm up 40% for 2012, which pays for the mortgage and gear purchases (but know that it doesn't work out that well every year…). Some folks head to Vegas for their jollies, I head to the stock market, and to some secluded campsite.Nov 7, 2012 at 8:43 pm #1927003
At what price: humanity?
The endless stream of money driven politices when what we need is human driven politics.
The only future i see besides finding a wife and family myself, is to support a family.
Money is congealed energy.
I plumb a house and the labor it takes is worth something.
A fellow person makes a shoe, and it is worth something.
What is the vacant air these electrons inhabit worth?Nov 8, 2012 at 7:42 am #1927051
Good for you. I know some people can do it. I don't have the nerves for it so I couldn't.
I heard a guy on the radio one day and he said something like "90% of day traders lose money and 10% of those traders lose all their money".
Do you think the odds and risks are that high?
DarylNov 8, 2012 at 8:13 am #1927058
Yes, Daryl, for many people the odds might be that high. But I expect that would be for the fast-lane noobs that don't quite understand the market, and are only after a fast buck (again, like Vegas?). Most of my $$$ is in mutual funds, since I don't trust myself completely. I play on the volatility of certain stocks that I know and am comfortable with holding for awhile. And with those stocks paying a dividend in case I get stuck with them. Stock volatility has been amazing these past few years, and there have been scads of opportunities to play on that.
But hiking around somewhere is just as rewarding to me, all in all…Nov 8, 2012 at 3:30 pm #1927150
@mtnratLocale: Southern Cdn Rockies
I think there is FAR more downside risk than upside. There is no growing economy that I can see in the near future. Stocks worldwide are artificially propped up by debt created to pay debt. IE printing money. All current politicians are doing is trying every trick in the books to stay in power and delay the timing of the next crash. There is crushing debt and deficits across much of the world. The US is borrowing a third of what they spend. Europe is as bad. THe US is printing about half a trillion a year. Money from nothing. Even China is stagnant, as well as india. World wide shipping, (BDI), is down, has been for some time, and is a key indicator. It does not matter who is in the Whitehouse. The piper will have to be paid. GM is in trouble again and the stock the government owns is worth 25 billion less than when they bought it. Exports are down worldwide. Be wary of the stock market. The talking heads on TV have been part of the reason for the recent bear market rally. Personally I am in cash and short term paper, and am waiting for the next large market adjustment to as low as 6000-8000 on the Dow before buying back in again. It may not go that low, but I think it will be very significant and be like the buying opportunity in the spring of 2009.
Here is an article from a newsletter I often read, that came out just this morning.
Global Recession Closer Than You Think
~ by Michael Lombardi, MBA
The global economy is deteriorating quickly. As the days pass, more economic news is released, suggesting that the global economy is taking a wrong turn and that a global recession is looming.
We all know what happened in 2009; the global recession occurred when the demand around the globe collapsed. In 2009, world exports saw their biggest contraction since the Second World War. (Source: “WTO sees 9% global trade decline in 2009 as recession strikes,” World Trade Organization, March 23, 2009, last accessed November 7, 2012.)
Fast-forward to the fall of 2012 and regions around the world are witnessing dramatic slowdowns in their exports. Those countries that were once the leaders in exports in the global economy are now seeing a marked downward slide in their trade.
In 2005, exports from the European Union (E.U.) accounted for 40% of the global economy’s total exports. In 2011, it exported only 34%. (Source: Word Trade Organization, October 2012.) Now, with the eurozone crisis taking a heavy toll, exports into the global economy from the E.U. are facing a further decline.
New manufacturing export orders in the eurozone have been declining for 16 consecutive months. Germany, France, Austria and Greece are at the forefront, seeing substantial export slumps. (Source: Markit, November 2, 2012.)
Similarly, in 2010, the U.S. was responsible for 21% of all the exports in the global economy. In 2011, this decreased to 16%. With the U.S. still not recovered from the Great Recession of 2009, U.S. exports are showing weakness once again. The U.S. Purchasing Managers’ Index (PMI) for October showed that new export orders have now fallen for five consecutive months. (Source: Institute for Supply Management, November 1, 2012).
Export orders for manufacturers from the emerging markets to the global economy have fallen for three straight quarters. They are experiencing the worst decline since the first quarter of 2009. (Source: “HSBC Emerging Markets Index Q3 2012,” HSBC, October 10, 2012, last accessed November 7, 2012.)
Growing exports—what a country makes and wants to ship to buyers outside of its boundary—are fundamental to strong economies. But with exports declining around the world, a global recession becomes a very stark possibility. I’m really surprised the media hasn’t picked-up on the worldwide trend of falling exports.
Looking ahead, seeing exports decline consistently and rapidly, it makes me more concerned about a possible global recession springing up on us in 2013. Economic conditions around the world are poor. This time around, a global recession will create bigger problems than it did in 2009, as central banks have run out of weapons to fight it. Interest rates can’t fall below zero; the more money printed, the more the chances of rapid inflation. The year 2013 could prove to be a very difficult year.
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