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  #1  
Old 10-07-2008, 04:15 PM
speaceman speaceman is offline
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Who's getting twitchy?

So is anyone getting a bit freaked out between the election and the economy?

6 months ago I remember talking to someone and talking about it going to be an interesting year or so.

Now 6 months later, i'm saying the same thing, only increasing the duration of the interesting times by a couple of years.

At the same time, people are still running around, drinking $5 starbucks.

So I don't know what to think anymore.
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  #2  
Old 10-07-2008, 07:53 PM
DanB98TJ DanB98TJ is offline
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Between the bailout and the worthless choices we have for president, I'm not feeling really good about the next few years.
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  #3  
Old 10-07-2008, 10:11 PM
Lawrence Lawrence is offline
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Do we even have an economy anymore?
The bailout is a joke, it should have restored faith so that banks started lending back to each other.
So, what did we get?
Nothing, nada, zip, except for a tanking stock market and a 35-year old ex-NASA geek in charge of $700B.
Great move! I am sure all the Icelanders will be sending us warm and fuzzy "Thank You" cards.
What makes me twitchy is that I should have dumped my stock when I could.
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  #4  
Old 10-07-2008, 10:40 PM
TObject TObject is offline
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We could spend $700 billion dollars on a $700 billion dollar hot air balloon, and then we would let the balloon go, because what the hell do we need it for.
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  #5  
Old 10-08-2008, 09:59 AM
speaceman speaceman is offline
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It's so hard to tell what's going on. Seems like most of the problems are all on paper for people now. It's going to be crazy when that starts spilling over into everyone's actual lives, if it does.

I've just been in Austin and Tucson, and things appeared normal. Everyone's out, eating, driving around, buying stuff. Maybe not as much as before, but I didn't see any uncrowded startbucks, as an example. The movie theaters still had plenty of people in them.

And I've been to Detroit. That place is a disaster. Its seems like a lot of the midwest is like that.

So I'm not sure what to think. It's getting bad, but how bad is it?
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  #6  
Old 10-08-2008, 10:55 AM
Joe Dillard Joe Dillard is offline
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My industry really isn't as robust as it use to be either. We're simply not killing near as many innocent people nor bombing as many places as we were a few years ago.
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  #7  
Old 10-08-2008, 11:33 AM
Matt Pascoe Matt Pascoe is offline
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Quote:
Originally Posted by speaceman View Post
It's so hard to tell what's going on. Seems like most of the problems are all on paper for people now. It's going to be crazy when that starts spilling over into everyone's actual lives, if it does.

I've just been in Austin and Tucson, and things appeared normal. Everyone's out, eating, driving around, buying stuff. Maybe not as much as before, but I didn't see any uncrowded startbucks, as an example. The movie theaters still had plenty of people in them.

And I've been to Detroit. That place is a disaster. Its seems like a lot of the midwest is like that.

So I'm not sure what to think. It's getting bad, but how bad is it?
Thats whats really bugging me. All these bad things that the media and politicians are saying is happening, I'm just not seeing it.

I know two business owners that have multi-million dollar lines of credit and they havent heard so much as a peep from their banks. Credit crisis? I stoped by a local mall last saturday and it was PACKED.

I really don't like all this bailout talk. People make decisions about how they live their life (education, career, debt). I've certainly made my share of bad decisions, what would happen if someone always bailed me out? I'd have little incentive to make wise, conservative choices.

Vegas anyone? Perhaps the government will cover my gambling losses if I really screw up
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  #8  
Old 10-08-2008, 05:03 PM
Art Welch Art Welch is offline
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Quote:
Originally Posted by Lawrence View Post
What makes me twitchy is that I should have dumped my stock when I could.
I'm assuming you are talking about feeling like you need to wait for the price to come back up to sell (rather than being constrained by insider trading window restrictions or something like that). If so that may be an expensive way to look at it. It doesn't matter what the stock price was yesterday, last week, or last month. It only matters where it is today and where you think it will be in the future (how far out depends on what you need the money for).

I speak from very painful experience on that after making that mistake in the tech crash in 2000 and losing about 90% of everything I had. These days I've learned to "take my medicine" when I'm late to recognize it is time to get out and just take the loss. So far in this decline doing that has kept my losses way below those of the market.

Just something to consider. I'm not saying anybody should sell anything, just don't let the common feeling of "well, I haven't actually lost the money if I don't sell it" influence you to do something different than you think is otherwise right.

Sorry for the long unsolicited reply to tell you something you already know
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  #9  
Old 10-08-2008, 07:00 PM
Lawrence Lawrence is offline
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Hey Art,

I see your point on holding on to the stock. I could sell out, get back in, and make up my losses, but it is too much of a risk and I don't feel that lucky. It is basically my daughter's college fund, and since I don't need the money unless an emergency comes up, I don't see any harm in holding out for now. I guess she'll either go to Stanford or Fargo Community College.

Although the stock market still stinks, it has come up a bit today, or at least I am not in the hole for as much as yesterday. I think it'll be alright and I am keeping an eye on it so I can dump everything when the time is right (having real time ticker helps).

The only bad part is that I can't jump in right now and tie some more money up. The stocks are as low as I have seen them and this would be a good time to snatch up a few at a bargain price.
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  #10  
Old 11-04-2009, 11:23 PM
speaceman speaceman is offline
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How about now?
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