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Mix-Ansicht- Depression looming? - netrader, 02.08.2002, 22:41
Depression looming?
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Depression looming uh?
by: laurie7715 08/02/02 12:49 pm
Msg: 156108 of 156232
Are we all going to be out of work? It sure looks that way to me. we can not count on our government we can not count on our 401k we can not count on our retirerment. hell we night as well just shoot our selfs. because if we can not eat and we will not have a roof over our head ad we will have to sell all our possesions to make it what the hell is there. Yeh we may have gold but we will have to use that in order to eat or possibly manage to keep a roof. This is f--ked any way you look at this. Ao when do we see all the street people is that coming soon in our town? gee where is the nearest dump so we can join Argentina. Or does Wall Street not meet main street. Something is a miss here. I tell you what I give to charity every year, That stops now. I better start giving my self charity. My husband and I figure we have enough to make it about 8 years, if all our money is gone by then well I have a nice Glock Gun, Or maybe some dam good sleeping pills. What, the rest of you are flush in gold? Who the heck are you going to buy from when no one is working? Are we going to dark ages here? Things can not be two ways here it is either one or the other. If inflation is coming then corporations better start paying higher wages. But if no one is working how is that going to happen. Their is getting to be to many layed off. this is going to be a ride to hell.
Re: Depression looming uh?
by: laurie7715 08/02/02 01:16 pm
Msg: 156119 of 156234
>That said, I think the number one thing you have to latch on to and not let go of is, somehow, someway we are going to get through this. >
Thanks, I figured I would get blasted on this board. They all knew this was going on, it is like this is planned or something. My thoughts are what the heck are we supposed to do if the cards are stacked against us.Get through this, well i do not want to be left penniles after my husband and I working all our lives. This is almost making me ill.If the boomers are out of work who is going to support our parents uh? because they depend on SS, if we are not paying how do they collect. I have thought of it all. it is a no win situation. I want to survive this but I do not want to be broke and live from hand to mouth. well I tell you what I will not do it. so I am sure their are plenty like me out here. Yet I see the Canadians have a maid accross the street. What the hell am I doing wrong?
Re: Depression looming uh?
by: markconnors16 (49/M/Boston)
Long-Term Sentiment: Buy 08/02/02 02:09 pm
Msg: 156156 of 156238
<<we can not count on our government we can not count on our 401k we can not count on our retirerment.>>
Laurie, at this point anyone who still has an active 401K in mutual funds should have their head examined. The stock market began tanking 2 1/2 years ago. I took it for about a year before coming to my senses and realizing that the majority never wins in the market, and the majority were still believing in their various retirement plans rebounding.
I liquidated my 401K in 2001 - yes, I paid a 10% penalty and, yes, I paid current taxes owed on the money. The remainder of my portfolio (all of it) I used to purchase Gold mining stocks in the Spring of last year, mostly Leap Calls on NEM. Some people thought I was crazy. I'm estimating my 401K would have declined by an additional 30% just from the time I cancelled it if I had not made this move. This new Gold portfolio I established was up over 100% two months ago before pulling back 30% since then, and it's now starting to make some noise again.
My point is that people who still have 401K's probably will not recover what they've lost and are being set up to lose even more. The recent pullback in PM stocks has created another opportunity to make the switch out of managed mutual fund retirement plans and into either a managed precious metals fund or your own personally selected PM stocks through a discount broker. It is not difficult to do and at least gives you a chance to regain some, maybe even all of what you lost. 401K's will go down in history as an ill-advised and ill-timed investment vehicle. Besides, who's kidding who about where the personal income tax rates will be 10, 15 or 25 years from now when those who want to retire with their 401K's will supposedly be in a lower tax bracket than they are now? Not a good situation.
Re: Depression looming uh?
by: alio_intuitu_01 08/02/02 02:57 pm
Msg: 156190 of 156240
Hey Laurie, don't listen to these money-grubbing, lying bastards -- the whole fucking system stinks. It stinks when these young"Wall Street" punks and our lying news media scum lie to us and cause us to lose our life's savings. People like this Abby Joseph Cohen who"works" for Goldmann sucks and is paid $20 million dollars a year to make sure that all of us hard working Americans lose our life's savings by feeding us a bunch of lies and bullshit -- I'm so pissed off I could scream! And, all I did was try to see if I could do better than what interest the"banks" paid. What a bloody joke! As Foo often reminds us, if you do not believe in God trust no one!
Sadly I must say, this is too late for me too, as these fuckers have literally creamed me, simply because I was too trusting and believed what our experts said -- my life's savings!
Unless this bullshit changes, there's going to be a revolution in this country -- pretty soon may I add!
alio, who's had a belly full of the bullshit and lies
Re: Depression looming uh?
by: laurie7715 08/02/02 03:52 pm
Msg: 156219 of 156241
What is Argentina living on? The banks are closed aren't they? How does one pay? with gold coins, how do they devide the coins, give you an IOU? So stores are going to subtract from a gold account? Well crop those puppys up. I am all for it, get this new shit going then. let the 401K switch into gold and everything else. Why wait untill we all are broke to do it. What is the sense of that.
Our 401K is all in cash and is makeing money but if that money is no good that what the hell did we save for. yeh we can get it out but it would really take a beating, we have to wait for 59. Why the hell does this have to happen now? I will tell you why because the majority of the population is in that age catagory. what about our Kids that are in their 20s and 30s, they have barely saved anything what the hell are they going to do? What you think everyone has a choice here?
Just the other day I had to help my daughter and her husband bail them on debt. Even though I lecture them about it. What we are going to do let our kids live on the street. I can not make it and support my kids. They sure can not go buy gold they only have enough to make it month by month and thats with some help from us. But I guess I will have to let them live on the street maybe thats what we all should do. Just turn our heads or stick our heads in tha sand yeh thats it.
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Gruesse
netrader
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