This bailout would not have helped you. It would not have unfrozen the credit market. It just would have made Tuesday business as usual.
The thing that got us into this mess was deregulation. Passing this would not have been anything close to a treatment of the cause, it just would have been treating the symptom. We'd be at this stage again with an even larger bailout plan in under a year.
Take a deep breath and, in the event that you are literally scared shitless, change your underpants. XD
Call me crazy, but I believe that the storm will pass. It won't be quick, it won't be easy, but eventually things will improve. Its just a matter of patience.
Though, I would suggest that you ensure that all of your bank deposits are covered by FDIC insurance. Should your banks fail, and you're within FDIC coverage limits, you WILL be made whole by next business day. (As was the case for Indymac customers)
If you've got the guts, there is money to be made in the markets. The old phrase "Buy low, sell high" still rings true today. Don't let panic convince you to buy gold. (Gold is selling high - time to sell it, duh!)
It hurts watching 10% of my retirement go *POOF* in one day, but I know that what goes down, must go up, especially when talking about something with so much inertia as the world economy. As long as I'm not selling apples on a street corner, I'll be ok.
what does one do? I'm in a number of varied investments, one of them was severely hit today that I should've gotten out of earlier. Do I keep the money there hoping it bounces back or move it to something else?
hooo boy. I picked the wrong week to quit sniffin' glue.
I guess it kinda depends. I made a post several months back where I dumped a bunch of turkey stocks and invested in something else which was profitable. I licked my wounds from the loss and moved on. If you don't feel confident about your investment and think you can do better with something else, then dump and reinvest. I just feel we're right at the capitulation point right now a.k.a. "the bottom." I don't hear panic in the voices of the "experts" so I'm not betting on a depression. Right now I am firmly in the "hold" mode. When things go up, I have a feeling they'll shoot up quickly meaning if you get out now, you'll miss the biggest bounce. Of course we could also be in for a long slog uphill to regain all that was lost. I'm 14 years away from retirement, so no need to panic just yet.
Comments 44
This bailout would not have helped you. It would not have unfrozen the credit market. It just would have made Tuesday business as usual.
The thing that got us into this mess was deregulation. Passing this would not have been anything close to a treatment of the cause, it just would have been treating the symptom. We'd be at this stage again with an even larger bailout plan in under a year.
Reply
Reply
Boing made an airplane once. But people had trouble boarding - it bounced from gate to gate to gate :)
Reply
Reply
Reply
Call me crazy, but I believe that the storm will pass. It won't be quick, it won't be easy, but eventually things will improve. Its just a matter of patience.
Though, I would suggest that you ensure that all of your bank deposits are covered by FDIC insurance. Should your banks fail, and you're within FDIC coverage limits, you WILL be made whole by next business day. (As was the case for Indymac customers)
If you've got the guts, there is money to be made in the markets. The old phrase "Buy low, sell high" still rings true today. Don't let panic convince you to buy gold. (Gold is selling high - time to sell it, duh!)
Reply
Reply
hooo boy. I picked the wrong week to quit sniffin' glue.
Reply
Reply
As bad as the bail out would have been. From all that I have been able to read, things are going to be a lot worse without it.
Reply
Leave a comment