Will this affect my IRA? Should I contact my Edward Jones rep?
i recently emptied out my bank account and am keeping all my money in a safe in my bedroom.
not entirely because of this but i don’t think it hurts.
Is the safe fireproof? Also, your money will lose more value if it’s not invested, even in a crappy economy. Better you should buy gold or diamonds and bury those like pirate booty.
A downturn in the markets is actually the best time to buy IRA shares. Even though the shares you currently hold will lose value in a downturning market, you MUST continue to buy shares at the low price at the same or greater rate. It’s the only way your money will be returned when the markets start to rebound, as they invariably do. Read up on something called “dollar cost averaging”.
Like I said, these sluggish periods are only bad if you need to cash out on investments that you paid a higher price for at some earlier date.
It was Greenspan who kept the econony together for the last twenty years. It’s always been Greenspan. We’ll see how things go without him.
Either way, it’s not that our economy has any real issues. It’s just that we were so far advanced that we were well ahead of every other country out there. However, that growth eventually hit a ceiling…you can’t grow forever. Now we’re finding that other countries like China are finally catching up and everyone seems to think there’s a problem with our economy. It’s not us…it’s just that the rest of the world is catching up to us…we’re just staying the same. This was inevitable…you can’t dominate the planet forever.
Of course, legislatures have ALWAYS misunderstood the workings of the economy and always pass silly economic packages that always do more harm than good. It’s no coincidence that most legislators are lawyers, not economists. The only way the economy gets worse is if our own government passes bills to ruin it…the outside conditions are only natural. (Of course, I still wonder if the Fed is as competent as they were with Greenspan, but I don’t see anything too alarming as of yet).
Even this talk of a recession isn’t that bad…these things are cyclical…after a period of growth, you will naturally have a period of recession…there’s nothing you can do but weather the storm.
Stevo
wipes brow
Thanks Bill!
yeah i wish i would have bought some gold back a few years ago, shit has doubled in value, what is it now, like 900 something for an oz of 24k, i know it’s worth a lot
I wish I would have bought Exxon stock a few years ago… 11.66 BILLION dollar profit in the 4th quarter of '07 and a 40 BILLION dollar profit for the year…
safe = fireproof
brady = confused/disgusted by economics and finance
wheres CHUCK when i need him?
I got a notification from the IRS stating that I should be getting my rebate check of $600 sometime in the future.
So I got that going for me.
^^Yes, the XM-Sirius merger finally went through. This shouldn’t be on the list of companies going away though because this has been in the works for a while. The government has wasted 3 years and millions of dollars fighting this because they feel that it would create a monopoly over the satellite radio market.
So remember, with all of the bad shit going on right now, our gov’t has had nothing better to do than to keep two aspiring radio companies from merging and giving their customers a better service.
It still needs FCC approval but they have said they would approve when congress did! So i will be getting every NBA,NFL and now MLB game on my service. Hope it happens in time for the playoffs! GO TIGERS!
sweet! Now I can enjoy Zepp radio, Thriller Radio, Jam On, and every fucking sport all on one tuner. Saaaaaweeeeeet
^ Don’t Forget the GD channel and Howard! Finally my XM counterparts and i will be able to converse freely again!
as did I, but it states that you’ll get up to $600. So I am assuming that most people aren’t going to get a full $600.
don’t be surprised if you don’t get the full 600
And don’t be surprised when that money is deducted from your 2008 tax return when you file next year. it is not extra money, just a prepayment on next years return!
Thanks for the financial advice, Jew.
Anytime, Goy!
It won’t be that obvious. We’ll all have to pay it back in the form of just higher tax rates in a few years. You can’t pay people a massive amount of cash and not expect some else to have to foot the bill for it later. It’s a classic case of politicians not having a clue how the economy works and just assuming that throwing money at it will solve it.
Stevo