Stock market down big today
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Joined: Jan 2011
Posts: 679
From: bay area
Car Info: 2009 wrx
you want to know the best thing about being poor? you dont have money in the stock market, so when it crashes it doesnt matter. wallstreet is more corrupt than most drug dealers. i'd invest in a legal growroom before i put a dollar in the stock market
I think so. This whole market 'turnaround' since 08 just didn't make sense to me.... massive debt and unemployment and the market goes up??? I don't necessarily see dow at 6k like three years ago but I wouldn't be surprised to see it down to 8 or 9k. And possibly the gold bubble popping.
Another thing. It's ridiculous how I read headlines like 'another recession'. We never got out of the first one!! Some say depression, I think thats a bit extreme but it's unquestionably been a long hard hitting recession. I can count on all fingers friends and family that has been layed off or taken pay cuts. I said that to a friend of mine and he added in 'bro, I can count fingers and toes!'. That combined with increased food and energy costs. This isn't rocket science, just observations I see all over.
/rant
Another thing. It's ridiculous how I read headlines like 'another recession'. We never got out of the first one!! Some say depression, I think thats a bit extreme but it's unquestionably been a long hard hitting recession. I can count on all fingers friends and family that has been layed off or taken pay cuts. I said that to a friend of mine and he added in 'bro, I can count fingers and toes!'. That combined with increased food and energy costs. This isn't rocket science, just observations I see all over.
/rant
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Joined: Aug 2006
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From: Sac
Car Info: your mother crazy
plays well with others
iTrader: (1)
Joined: Aug 2006
Posts: 9,923
From: Sac
Car Info: your mother crazy
General Pimpin'
iTrader: (7)
Joined: May 2003
Posts: 23,019
From: Knee deep in beer. subabrew crew, ca.
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When the market popped 3 years ago I lost something like 30k. Nothing compared to most people but I was down over 50%. That account almost back to where it was a few years ago. One of my other ones has been doing pretty well. Up like 21% this year. I expected things to drop soon.
I figure I'm probably at about 85% of where I should be. I just keep adding to it when I can and hoping that when I'm 60 there's enough to retire on because there will be no Social Security in 30 years. No health care. No nothing. Anyone that hasn't been planning for retiring on their own dime needs to get in gear.
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From: Participating in some Anarchy!
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