Campbell
Banned
- Joined
- Jan 8, 2013
- Messages
- 2,138
- Reaction score
- 473
- Location
- East Tennessee
- Gender
- Male
- Political Leaning
- Liberal
These folks have a strategy and a plan. The stock market is run by rich folks and insiders. The traders will run along with a day-to-day, week-to-week basis where every few days or weeks they test the bottom...that is they find out where the level is which represents long range investors and then they trade above and a little below that. Sometimes when the opportunity presents itself they come out screaming, "You Better Get Out"
Then they get out of the market for a month or two and wait till it falls as far as those who get scared and sell will take it and then they buy back in low and start the market up again:
Economist Caution: Prepare For 'Massive Wealth Destruction'
"Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
How come you're not one of the evil rich since you've got the stock market all figured out? If you've got it figured out, getting rich should be a snap for you and yet all you do is bitch about how rich other people are. Whassupwithat?
I don't have to get rich. My wife and I are both retired on the lake. I will mention that I have averaged about 14% gain per year on our two IRA's since 2010. I'm 79 years old and have raised, educated my children and we're all doing fine thanks.
Just sayin'. You're wasting your talents knowing everything you know about the stock market secrets and only getting 14%.
These folks have a strategy and a plan. The stock market is run by rich folks and insiders. The traders will run along with a day-to-day, week-to-week basis where every few days or weeks they test the bottom...that is they find out where the level is which represents long range investors and then they trade above and a little below that. Sometimes when the opportunity presents itself they come out screaming, "You Better Get Out"
Then they get out of the market for a month or two and wait till it falls as far as those who get scared and sell will take it and then they buy back in low and start the market up again:
Economist Caution: Prepare For 'Massive Wealth Destruction'
"Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
Actually my financial advisor is the son of one of my high school classmates and he didn't have to tell me, though he did, that's we've done outstanding. For tax advantages, since Dec. 2010 I've raked $92,000 of pure profit from our two IRAs and started a new account.
I don't have to get rich. My wife and I are both retired on the lake. I will mention that I have averaged about 14% gain per year on our two IRA's since 2010. I'm 79 years old and have raised, educated my children and we're all doing fine thanks.
You're 79, and liberal. Lol....
Better watch out old man, liberals won't allow you that life saving surgery you might need in a few years.
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Economist Caution: Prepare For 'Massive Wealth Destruction'
"Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
I say we avoid discussing personal finances and voting records in a thread that's about something much more important, which is the theory that we may be headed for another recession.
More folks should have noticed what was saving us from a long grinding recession that WOULD HAVE happened after the stock bust if the Fed had not put the housing bubble in its place. In 2005 we could have been so grateful to Greenspan, Bush, Democrats in Congress and everyone else for orchestrating a maneuver that would pretty much negate the painful result of the stock bust. But we're not thankful for it, in hindsight, because what was used to stave off what would have otherwise been a long and painful recession ended up triggering its own recession. In other words, the plan for fixing the problem created its own problem.
And so right now we should be asking ourselves the same question: what's saving us from a much longer, grinding recession were we not swapping out the financial market mania with fiscal and monetary mania? And is that strategy laden with its own problems that could trigger another even deeper recession after the scheme fails?
The Keynesian-esque meme going around is that this is a low-risk maneuver to prop up what would otherwise be a depressed economy, and that by doing it, the economy will suddenly begin "running on its own again." Repeatedly they simply point back to the 40s-60s for evidence that it's sure to work. In other words, their grand hypothesis requires disregarding or ignoring the profound differences between the US 60+ years ago and the US today. So if, just go with it, IF the neo-Keynesian hypothesis (that fiscal and monetary stimulus will cause economic recovery) just happens to turn out to have a critical foundational flaw, then in that case, yes, we really are talking about the sky falling, almost certainly within our lifetimes (with the possible exception of Campbell who has revealed his age).
Personally I believe that Keynesian stimulation can help stave off the pain of deep and prolonged recessions but only if there is a real literal source of genuine economic growth to follow. We had that in the 40s through 60s. It was our time, the undeveloped world was nowhere close to beginning to develop, and the US and the world were experiencing the most rapid period of oil discovery and development that the world will ever know. If this round of Keynesian craziness is going to work, it will be because some new opportunity presents itself. Think revolutionary new technology or vast new energy source. Stimulus does not run an economy, and it doesn't guarantee recovery. It's a symptom treater, not a cure.
I think that anyone who didn't notice that George W. Bush cut taxes for the wealthy twice, 2001 and 2003 then started two wars, one totally unnecessary then proceeded to double the national debt really needs to do some serious soul searching.
Actually my financial advisor is the son of one of my high school classmates and he didn't have to tell me, though he did, that's we've done outstanding. For tax advantages, since Dec. 2010 I've raked $92,000 of pure profit from our two IRAs and started a new account.
This partisan talking point neither affirms nor refutes what I said, in fact it really doesn't address my comments at all.
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