Get Your Money Out Now!!!

[Ready Room]

Insider info from a source would NOT say anything unless he believed it. Get to the bank and sell off any stocks AS SOON AS the market/banks open - IT IS ALL COMING DOWN TOMORROW!

God Bless and Good Luck.

[jerrymrc]

All my money was out of the market 15 months ago. I saw this coming. I would have lost 45K today and at 6 years to retirement that would not be a good thing.

I am not a believer in the "Bailout" as has been presented so far.

Pass the popcorn.

[Daniel187]

credit union baby

[RYAN50BMG]

Increase your cash on hand position, continue to reduce your debt, stay diversified, stay disciplined (not like that Marlin, I mean financially).

[Gman]

Credit unions are not immune. They buy into the National Credit Union Share Insurance Fund which is a private insurance company just like FDIC.

If you try to pull out all of your money, you will be part of the problem. I"m going to let it ride.

[CareyH]

No offense....

But the morons in the investment world are the ones that bail out and sell all their investments when they are at their lowest. I'd recommend selling only investments not likely to ever recover.

Selling all stocks now just transfers your wealth to somebody else when the economy picks up - which it always does.

A few people have lost millions & billions in this recent mess.... given time, a few others will have made millions & billions in the years to come (the ones that buy up everything YOUR dumping right now, while they are at their lowest). Also, the bailout bill failling isnt insider information - its national information. Selling tomorrow morning would probably be during the period when stocks are within 5-10% of their lowest point - bad, bad idea.

buy high and sell low right? lol

I agree with foxtrot. you may want to move some investments around but pulling out completely will just hurt you in the long run.

why keep more cash on hand? if the bottom falls out of the economy our money will not be worth the paper its printed on. keeping more ammo on hand tho..... :)

[Aloha_Shooter]

Panic can lead to a self-fulfilling prophecy. This crisis, like any other, begs for steely nerve and cool analysis. First of all, the only businesses in danger are those that have overextended themselves and need a credit infusion. The credit economy is the root of most of the problem here as it was founded on phantom growth and bolstered by the phony accounting typical of the Clinton administration and their pals at Enron.

I have been skeptical of the housing bubble and got out before things started sliding south. Now I have a little bit of cash and am looking for the bargains as all the idiots unload out of fear. I was TDY at the wrong time or I'd have bought Bank of America when they were below 20 -- they're sitting over 30 now despite a 6 pt drop today and their dividend is still worth a 7% yield. Duke Energy is still yielding a 4% return just off the dividend alone.

The Dems and press created and worsened a slight recession in 1992, one Billy Boy called the worst economy in 60 years even though it had already started the recovery before the election. President George H.W. Bush was mocked for advising people to stay the course -- but he was right. His son isn't using those fateful words but the advice would still hold true.

[7idl]

it may be 'that' time.

http://artfiles.art.com/images/-/Mel-Gibson---The-Patriot-Photograph-C12148631.jpeg

[Sixgun]

I'm sure glad i don't have any money.[BooHoo]

[micah360]

I'm sure glad i don't have any money.[BooHoo]

Me too... sure is a sigh of relief huh?

[Justin]

Actually, I'm buying some shares in a mutual fund today. With the price down and all the panictards selling there are bargains to be had.

And, if it all falls apart tomorrow, oh well. I've got guns and friends. :-D

[ssf467]

Bargin basement sales will only go so far. Inflation is coming like you've never seen. We as people need to start deflating the economy. The market is hoping for free money and is holding on by a thread, the leeches have not sucked the last drop of blood out of the market yet.
BTW housing prices are down national average 16% from last year

[ssf467]

Buffett Slams 'Sharecropper Society'; Lotus Notes Creator Ozzie Joins Gates' Team.
Forbes.com staff, 03.11.05, 8:30 PM ET

NEW YORK - Doers and doings in business, entertainment and technology:

Buffett: Berkshire Hathaway CEO Blasts 'Sharecropper's Society'


Warren Buffett

Is the Oracle of Omaha losing his touch? Billionaire investor Warren Buffett apologized to Berkshire Hathaway (nyse: BRKa - news - people ) investors for a dud deal year. "My hope was to make several multibillion-dollar acquisitions that would add new and significant streams of earnings to the many we already have," he wrote in his much-anticipated annual letter to shareholders. "But I have struck out." Buffett promised to act quickly on good investments in the $5 billion to $20 billion ballpark, but Jeremiahs are already predicting a gloomy 2005 for Buffet and Berkshire's vice chairman, Charlie Munger. "He won't find anything this year," said Steve Kaplan, a professor at the University of Chicago Graduate School of Business. "Since he likes to buy things cheap, it's harder to find." Of course we all should have Buffett's batting average: Even without deal making, Berkshire Hathaway's net worth rose $8.3 billion in 2004. And tossing the Berkshire Hathaway hair shirt aside, Buffett blasted the U.S. for its continued trade deficit. "A country that is now aspiring to an 'Ownership Society' will not find happiness in--and I'll use hyperbole here for emphasis--a 'Sharecropper's Society,'" Buffett wrote, "But that's precisely where our trade policies, supported by Republicans and Democrats alike, are taking us."

[Justin]

Uh...

Why did you post an article that's three years old?


Also, the DOW is back up 371 points. It's recovered half of the value it dropped this morning. Down 7%, back up past 3.5%.

Things are going to be dicey for awhile, especially as Wall Street types continue to sit tight to see if they're going to get the bail out.

[Gman]

So much for your source. Dow closed up 485.21 (4.68%), NASDAQ up 58.35 (5.27%).

There have been 13 banks and 5 credit unions that have failed.

Maybe Congress should just take the day off for the next 5 years.

[Hoser]

Invest in precious metals. Lead and copper.

[StagLefty]

I'm sure glad i don't have any money.[BooHoo]

me too !!![Beer]

[CareyH]

Invest in precious metals. Lead and copper.

done....and done. ;0

[ssf467]

The stock market is one element in this green wienie heading our way. What has happened is money has stopped being loaned. No new money = no growth. The crisis will be snowballing sooner if the Congress doesn't rape us. Our currency has been debased and since gold doesn't back it, it will become more and more worthless, as this down turn continues.
The article from 2005 was a prediction of things to come after the collapse of the US economy.
Brass and copper look better each day.

[Gman]

Warren Buffet was warning about derivatives being "time bombs" and "financial weapons of mass destruction" 5 years ago and he made sure Berkshire Hathaway was pulling out of them.

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080924/REG/809199997

[Justin]

Buffet evidently invested $3 billion in GE today. He's also putting money into Goldman Sachs. Which is interesting, to say the least.

[Gman]

The crisis will be snowballing sooner if the Congress doesn't rape us.

The "bailout" plan, which was 3 pages and ballooned to 250 by the House, is now 451 pages. There is pork for wool research, NASCAR tracks, Puerto Rican rum, wooden arrow shafts used in children's toys, etc. The Senate passed the porked up version tonight.


The government obviously can't take this seriously so they should just stay out of it. They just can't help themselves with the idea of boatloads of money filling the trough to only disappear without accountability.
quote:


A few of the earmarks stuffed in the bill:

- Film and Television Productions (Sec. 502)


- Wooden Arrows designed for use by children (Sec. 503)


- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)



Tax earmark “extenders” in the bailout bill.


- Virgin Island and Puerto Rican Rum (Section 308)


- American Samoa (Sec. 309)


- Mine Rescue Teams (Sec. 310)


- Mine Safety Equipment (Sec. 311)


- Domestic Production Activities in Puerto Rico (Sec. 312)


- Indian Tribes (Sec. 314, 315)


- Railroads (Sec. 316)


- Auto Racing Tracks (317)


- District of Columbia (Sec. 322)


- Wool Research (Sec. 325)
http://michellemalkin.com/2008/10/01/read-the-senate-bailout-bill-here/ (http://michellemalkin.com/2008/10/01/read-the-senate-bailout-bill-here/)