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#1
11-19-2008, 05:03 PM
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Another Fun Day Courtesy of the Mkt...
Not going to have to skip lunch yet, and not seeking sympathy,
but it's very hard watching a lot of hard work, saving and trying to invest "properly", erode away day by day. This Fixed Income deal and, trying to live/spend carefully is going to be tested soon, here at the GoingBrokeRanch, I suspect. When one peeks and sees another $30-$60Gs worth of life savings peel off on these ugly down days, it gives pause... Dow Jones Industrial Average (DJI: ^DJI) Index Value:7,997.92Trade Time:4:03PM ETChange:  426.83 (5.07%)Prev Close:8,424.75Open:8,420.69Day's Range:7,987.08 - 8,504.6452wk Range:7,773.71 - 13,850.90
__________________
Ol'UncleMotor From the Home Base of Pro Bono Punditry and 50 Cent Opins... Our Mtn Scenes, Car Pics, and Road Trip Pics on Flickr: http://www.flickr.com/photos/4527537...7627297418250/ http://www.flickr.com/photos/4527537...7627332480833/ http://www.flickr.com/photos/45275375@N00/ My X Page  
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#2
11-19-2008, 05:22 PM
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I've all but stopped paying attention to the market. It's weird, ever since I came to this small town, I haven't paid much attention to the markets at all. I only seem to care whenever I go back home to the bustling city. It's like time stands still in the country.......
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#3
11-19-2008, 05:36 PM
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If you're looking for some solace, seems like anyone of us who's had a 401K or IRA for a while is going through the same crazy thing. Granted, you're losing more total cash than the Gen-Xers, since your "egg" has been in the incubator longer.
I'm just going to throw this out there and see if it "sticks" with the folks who are better versed in macro-economics than I can ever be: If enough folks wind up losing huge chunks of capital, including retirement savings, is there a chance that there will be a major "re-pricing" on common goods and consumables? In other words, if demand drops sufficiently due to dire straits, the price point will need to shift accordingly, a la the gasoline scenario of the past 6 weeks. What am I missing? I'm just looking to re-assure MotorDavid that he'll be able to buy his next E70 X5 4.8 for a mere $35K, hence cushioning the horror of his (and everyone else's) IRA depetion.
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#4
11-19-2008, 05:44 PM
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The Market went up for many years nothing to say it won't go down for for quite some time.
I have tried to only look at the close and not focus on it to much. MD go read my newest joke posting and be happy that the mountain is a low crime area One stock worth looking at is http://www.altria.com/ People smoke because they are addicted and the dividend is high. Last edited by E61Silver; 11-19-2008 at 08:12 PM.
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#5
11-19-2008, 07:01 PM
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Stan,
Sort of chuckling to keep from crying...  I think you are referring to the common usage of deflation vs. the usage of that term I learned struggling through Econ., but it's appropriate. New E70?!  Hellsbells, I couldn't justify a new Fit tomorrow toreplace the CEO's 5 1/2 yr old CR-V, (our "newest" vehicle in the ol'stable, by the bye.) I retiterate I am not taking up a Net-A-Thon yet, to supplant my eroding retiredBum nest egg, yet...just very depressing to see years of hard work, saving like squirrels, living way below our means then, and look up and it is being dragged down like a whirlpool. Cash is king and I have ~63% of the ol' port in it, but as stuff gets Stopped out every day, (and all of those equities are light years below their highs of less than a year ago), I am thinking Our Plan is a little lighter than I ever would have imagined... Anyone need an ol'former sales exec., with very diminished skills, eroding mental capacity, current crummy work habits whom is trying to figure out if it's worth it to go hump an 8 buck an hour job, assuming I could find one. Maybe that Net-A-Thon for us older people here, has some merit. What say all you young guns kick in?!  Where do I get in line for my TARP cut?
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#6
11-20-2008, 05:25 PM
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Woohoo....here we go again.....
^DJIDow Jones Industrial Average7,553.56 Nov. 20th 3:59pm ET 443.72 (5.27%)Has anyone wondered: With the blood-bath we are seeing in the economy right now, how long will it be before a major increase in crime nationwide?? With layoffs, unemployment, foreclosures, and 401k collapses....I mean at some point even law-abiding citizens are going to be forced to turn to immoral means to put food on the table for their kids....Time to hunker down and watch the mayhem unfold.... 
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#7
11-20-2008, 05:55 PM
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Quote:
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#8
11-21-2008, 01:59 PM
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Quote:
__________________
"When you do things right, people won't be sure you've done anything at all" (Bender, futurama) You make something idiotproof, they'll make a better idiot You think professional is expensive, just wait until you pay for amateur. Never let your sense of morals prevent you from doing what is right. Examine what is said, not who speaks. X5 pics RIP 4.6is..... 2003 4.6is 
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#9
11-20-2008, 05:25 PM
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Look Out Below!
Whew...and, the S&P at a nearly 12 year low... Seatbelts on. I bet most of us wish we could turn back the clock a "year" and move everything we owned then, to Cashola... GL,mD
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#10
11-20-2008, 05:31 PM
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Next stop: 7000 level for the Dow. Please remain seated, until everyone has lost all their money and the government has bailed everybody out. <insert BMW iDrive chime>
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