Today we found out the Sh#t hit the fan!

[BigAl]

Its official ! We are now in a recession and Mountain Poopers thread proves it . So now all the finger pointing in the world ain't going to change that .

So what are you , yes you, going to do about it ?

Me.... well I been seeing this coming for awhile now and I kinda been preparing for it .

I have no debt and do not intend to start now just to help jump start the economy because some dumbass bought a home or commercial property he could not afford or just had to have that new car to impress his nieghbor and friends . Don't get me wrong I have no problem spending big money right now as long as it makes me money in the long run .Some people should never own a credit card because they have no idea they have to pay it back someday .
I invested wisely, I hope , and intend to ride this out . I intend to buy investment property as it becomes avalible at a bargain price . I do not intend to feel bad because I picked it up in forecloser or a short sell . I see a incredible opportunity to make some very serious money in the next year if a person is posed to jump when the timing is right .I might do without a few things I really wanted this year but in the long run I think the rewards will be worth it .
I have always looked at every dollar I spent and ask the question "Will this come back someday with dividends ??" Some things that we buy or need ,we have no choice about ,but many we do .

I know the goverment wants us out there spending every dime we got to help kick start the economy again ,but in my case ,that ain't going to happen . When was the last time the goverment was right about anything???

Its amazing to me that the shock market fell so hard on this news of recession today ? Where has everyone been the last 2 years ?? I thought all these "big shot brokers" had some type of business training . What kind of input and advice are they giving their clients . God help us all if the President farts out loud tomorrow !!!We may be talking a total market crash !

 

[mak2]

Get completely out of debt and stay out. Put as much cash as I can in the stock market, nowhere to go but up.

 

[mtntopper]

Get completely out of debt and stay out. Put as much cash as I can in the stock market, nowhere to go but up.

Invest wisely or you may still end up with a big fat zero if what you invest your hard earned dollars in goes south and out of business because of factors that may even be beyond their control................

It can happen, so think hard about how much you can afford to totally lose before jumping into the frying pan. A tidy sum of cash in hand maybe much more valuable than stock in the near future.............

I am not sure the bottom is even close yet on the stock market. The big question is what companies will survive and prosper while paying you back for your investment? Too many CEO's, upper management and CFO's are hanging way out in thin air their praying that the real world will not catch up to them and their bungling attempts to run a business while deceiving the stockholders.

 

[XeVfTEUtaAqJHTqq]

Get completely out of debt and stay out. Put as much cash as I can in the stock market, nowhere to go but up.

I don't think the market has bottomed out yet.

I think a lot of people are dumping stock before the end of this tax year in order to avoid higher taxes next year.

I would not expect to see any sort of turn around until after Obama is in office.

I agree with Al - look for good real estate investments.

 

[mtntopper]

Put as much cash as I can in the stock market, nowhere to go but up.

This is why we are in the economic recession as too many people lived by this adage and for far too long................

 

[Deadly Sushi]

Get completely out of debt and stay out. Put as much cash as I can in the stock market, nowhere to go but up.

I really hope your pullin' our leg. This economy will tank even worse early next year. If you put in any money in the GIANT casino called the Stock Market, you will loose it.

 

[pirate_girl]

Get completely out of debt and stay out.

I am.. and have no intentions of going there-- ever.

 

[BigAl]

I really hope your pullin' our leg. This economy will tank even worse early next year. If you put in any money in the GIANT casino called the Stock Market, you will loose it.

I don't necessary agree . I think there are some great stock deals out there ..........but a investor needs to do his homework very well . You do not buy a stock just because you heard the name before . You need to know the product they sell , the assets they own ,cash flow , reciepts accountable , and any negatives that may cause the stock to fall . Yes the market has dragged many solid companies down in value just because some day investors are scared and do not know what they are doing .These are the stocks you want .
Has the market bottomed out ???? Nope , not yet .

 

[CityGirl]

A tidy sum of cash in hand maybe much more valuable than stock in the near future.............

 

[CityGirl]

How do people in this country who have any inkling of past history (specifically the Weimar Republic of Germany) believe that times are so different now that the same economic and social consequences will not be repeated with the current conditions existing in the US now? If money is worthless, it is worthless. The FDIC won't mean diddly. A must read is Weimar Germany by Eric D. Weitz. You can browse some excerpts here. May have to paste link. Pages 132-140 very interesting.

http://books.google.com/books?id=9i...X&oi=book_result&resnum=6&ct=result#PPA134,M1

 

[bczoom]

My plan is to save as much cash as possible.
If after 6 months or so, Mrs. Zoom and I both still have our jobs, I'll look at either taking some of that cash and buying more real estate or paying down the mortgage.

If money is worthless, it is worthless.

If it becomes worthless (but still legal tender), it'll go towards the mortgage.

 

[ncroamer65]

For those in management that made a big profit during this time attach
their assets to help correct this mess. I know thats to simple

 

[Melensdad]

I am really curious about holding cash. What happens when we see inflation? Won't the cash simply be devalued and actually be a big loser overall? Not saying that stocks are the place to be, but I do agree with BigAl that there are some good bargains out there in sound companies that are currently undervalued. I'm not sure that gold/silver/platinum are the place to go either.

But it strikes me that it is very logical to be concerned about inflation indexed investments that will 'hold' their value under inflationary times as I believe we will see inflation as an increasing problem over the near future.

 

[bczoom]

I am really curious about holding cash. What happens when we see inflation? Won't the cash simply be devalued and actually be a big loser overall?

Well, I don't know... I figure even if devalued, it's still the same amount of $ against my mortgage.
If the value of the $ plummets, I can still apply it to the mortgage.

No time to really think about it right now, but wouldn't a lump-sum against the mortgage be best during an inflationary period? The money isn't good for anything else.

 

[Melensdad]

Well compared to a fixed mortgage payment I would agree.

But what about compared to food costs, energy costs and drug costs which would likely go up? Or how about compared to other consumer goods, which again would go up?

I doubt we will see hyper inflation like has been seen in South America and parts of Asia where inflation exceeded 1000% as some economies collapsed but what if it only goes up to 30% or 50% inflation? While a fixed mortgage will be paid at the same rate, all other goods will be subject to gross fluctuations/increases in prices.

 

[darroll]

After WW1 the Germans owed us boo coo bucks.
Later they sent a bill to Hitler. Hitler paid the bill after turning on his printing presses.
This added to inflation… but… Hitler stopped inflation cold.
He said the next person that raises their prices, "I will see that they get their head cut-off".
Inflation ended.
As per an earlier comment, If you pay off your mortgage with inflated money is a good move. The government borrows money and then inflates. The government wins.

 

[Melensdad]

As per an earlier comment, If you pay off your mortgage with inflated money is a good move. The government borrows money and then inflates. The government wins.

Actually, if someone wanted to gamble a bit, and already had a mortgage that was paid off, they could remortgage their home at today's dollars, invest in something that was inflation protected, and pay off the mortgage with the inflation devalued future dollars.