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Old 10-09-2008, 12:50 AM   #41
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Just to make sure that you understand where the social security $ comes from;


Gracious! must of hit a nerve there...

You know, one of the things that many Americans love to think is that they have alone paid "into" social security and they're getting "out" what they put in. It is not "your" money, nor is it "mine" but it is money that our government has collected from us and our employers equally in order to assure that we and other Americans (working and disabled) have a minimum level of income when we can no longer work due to age or long term illness. The social security "net" was set up to protect people (mostly at the lowest income levels) from falling into poverty in their old age w/o a pension plan. It was never set up so that one would get back exactly what one put into it. As it turns out, even people who are not at low income levels do get back way MORE than they put into it. This is because benefits under SS have been quite high and to keep up with inflation the SS COLA ends up making the SS payouts a lot more than what the person paid in. We are all fortunate to have the system but it is a costly system with each generation paying MORE into it and getting less than the previous generation gets. The most generous benefits are to folks who are now in their 80's and the least generous to folks working now who are in their 20's. Our children and their children will be shouldering a great burden with the SS benefits of all the generations before them.

about other things you touched on...



It's the irresponsible people in Washington and the greedy people living off credit cards and buying overvalued properties that are the root cause of what is happening. People that sink thier savings into Wall Street and "gamble" with thier retirement money by letting the corrupt CEO's make the decisions for their future who are hurting right now.


I assume what you mean by "irresponsible" is that there should be heavier oversight of lending/housing/credit/financial accounting....etc..etc..etc...I'd suggest that perhaps you think about the fact that most Americans don't want "oversight" and regulation until AFTER a big disaster and then they want too much over reaction is big. We Americans complain, out of one side of our mouth, about too much regulation and complain out the other about not enough oversight! We can't have it both ways...

Won't comment on those "greedy" folks with the credit cards and $$$ properties because I figure they indeed are at the root of some of this. However, there few places for Americans to invest and get a return above passbook savings unless they're willing to purchase real estate as well as stock, mutual funds, etc. ...ummm... 401(k) and retirement accounts aren't exactly available for "gambling" so don't know where you're going there. Also, just because the CEOs are getting rich doesn't mean they're corrupt. It just means we have an unbalanced reward system in place: we pay people like professional athletes, movie stars, and CEOs of Fortune 500 companies a lot of money whereas the working stiff gets well...stiffed.



I am happy to say that my meager existance will not be teribbly affected by this. I guess not being greedy is finally starting to pay off...


Glad to hear that.





I also find it interesting how people love to hate the USA, especially when the American people quit buying imported products and it affects other countries economy's as well. Seems kida hippocritical, America is ok when the American people spend thier money in a forgien country but when America falls on hard times, " We deserve it..." Seems to be what I hear from many people living abroad. Probably people that aren't even citizens of the USA.


Well, it seems to be human nature to have issue with people who have "more" than one does. Finding fault is often far too easy and America is a good target these days. Nothing like having President Bush tell us to go shopping and "spend" our way out of recession following 9/11. Think of how that looked to the rest of the world. Also, our society encourages people to consume excessively in all ways: fuel/big cars, big houses, lots of consumer goods. It is excessive and it is not "becoming" for us to suddenly have all these problems because of such excesses.



There's my "rant" for the day...Heard of any good stocks lately? LOL!


look to exchange traded inverse funds like... DUG (inverse on oil), SKF (inverse on the S&P 500), FXP (inverse on H-shares), etc. They provide a high-risk volatile way to make money when their segment of the market is falling.

Have a good evening
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Old 10-09-2008, 08:23 PM   #42
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WHOOSH!!!!!!!!!!

DOW down 590pts in afterhours to 8766

Now down 678.91pts to 8579...I think a 5 year low.
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Old 10-09-2008, 08:37 PM   #43
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And this wonderful news comes as I'm sitting in a meeting with group of engineers from GM! Needless to say they are all very quiet at this moment.

Shares of General Motors plunged thirty-one percent today—and maybe more, it’s hard to tell because ten minutes after the market closed stocks kept dropping due to pent up sell volume. Standard & Poor's Ratings Services put the auto maker's debt rating "on CreditWatch with negative implications."

S& P credit analyst Robert Schulz said the classification reflects "the rapidly weakening state of most global automotive markets, along with capital market conditions that will remain a serious challenge for the foreseeable future." Translation: no one can afford a car, and no one can borrow to finance one.

Even Schulz’s reassurance is unsettling.

"We believe GM currently has adequate liquidity for at least the rest of 2008 as measured by cash balances and available bank facilities, but the accelerating deterioration in industry fundamentals will be a serious challenge to liquidity during 2009," he said.

Oh, totally great. They probably will survive through Christmas. If a doctor gave you this kind of diagnosis you’d be drawing up your bucket list right now.
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Old 10-10-2008, 02:49 AM   #44
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And this wonderful news comes as I'm sitting in a meeting ...
Wow, that was quick! .......Didn't see that coming....LOL!!

Calling all Airlines! Your next in line after GM for a bailout...
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Old 10-10-2008, 11:40 AM   #45
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Calling all Airlines! Your next in line after GM for a bailout...
Nah the airlines are showing monsterous profits, besides they are so busy nickeling and dimeing everyone to death with their 1st checked bag luggage fee, the 2nd checked bag luggage fee, an extra $35 on your ticket if you want an isle seat, extra fees if you want an exit row seat, still more fees if you want an "Exit row isle seat" and a fuel tax just to mention a few. On some airlines the only seat you can get without additional fees is the middle or center seat (centre for you non Americans)

Why is it that when the oil price went through the roof the airlines cried foul and added all these fees, yet now that oil is back in the $82.00 per barrel price range we do not see the airlines announcing that they will be lifting all those fees. As far as I am concerned the greedy buggers can all go bankrupt.

Hmmm Maybe the airlines are paying for AIG's SPA fees ...
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Old 10-10-2008, 04:50 PM   #46
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Nah the airlines are showing monsterous profits, ...
Thursday August 21, 2008

Addressing the Australian National Aviation Press Club in Sydney, IATA DG and CEO Giovanni Bisignani said: "We are a fragile industry and we are in crisis; wait and see is no longer an option. We are in the perfect storm of uncontrollable fuel costs and falling demand. Airlines could lose as much as $6.1 billion this year," wiping out the $5.6 billion profit reported in 2007, bringing the cumulative losses since 2000 close to the $50 million mark. Bisignani noted that 25 airlines in the IATA clearing house system have gone bust - greater than immediately following 9/11- and we are bracing for more," he said. The airline industry is frustrated by profit margins of 1.1% in a situation where airlines have reduced sales and marketing costs by 25%, improve fuel efficiency by 19% and cut non-fuel unit costs by 18% .

And which Airline would that be that shows "Monstrous profits" ? A $6.1 billion loss is projected for the industry....Far from "monstrous profits" I'd say....
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For the truth is that I already know as much about my fate as I need to know. The day will come when I will die. So the only matter of consequence before me is what I will do with my alloted time. I can remain on shore, paralyzed with fear, or I can raise my sails and dip and soar in the breeze.

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Old 10-11-2008, 12:56 AM   #47
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And which Airline would that be that shows "Monstrous profits" ? A $6.1 billion loss is projected for the industry....Far from "monstrous profits" I'd say....
Take a look at Continental Airlines for one ...
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Old 10-11-2008, 01:02 AM   #48
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Take a look at Continental Airlines for one ...
Seems I was wrong, Continentals profits of last year turned into a $91 million loos in 2008. My bad. Not too proud to admit I made a mistake.
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Old 10-11-2008, 04:16 AM   #49
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Seems I was wrong, Continentals profits of last year turned into a $91 million loos in 2008. My bad. Not too proud to admit I made a mistake.
I make mistakes every day .

I happen to come from an " Airline Family"....X heavy aircraft mechanic. I got tired of the politics and wastefull activities of the upper mgmt and quit for life...I still have many ties in the industry so I just happen to hear about the latest on a daily basis.

I think all the big corp.'s are in trouble, no industry is safe...."Stuff" rolls downhill, know what I'm sayin? Time to start thinking "Survival Mode"...
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- RICHARD BODE
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Old 10-12-2008, 04:41 PM   #50
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Good thing cruising mode is survival mode! I believe we all have a jump on the rest.
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Old 10-13-2008, 10:10 AM   #51
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NEW ADDITIONS TO WEBSTER'S

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use
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Old 10-13-2008, 07:27 PM   #52
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I like the Standard & Poor...

Market is up over 655pts!!...another 1200 and I'll be able to sleep again
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Old 10-15-2008, 06:03 PM   #53
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STANDARD & POOR -- Your life in a nutshell.
You know me already, and we only met a week ago ....
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Old 10-17-2008, 02:57 PM   #54
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A good friend and very successful investor sent this to me this morning...thought I'd share it.

My two favorite people, Warren Buffett at 5 AM and Jimmy Buffet at 5 PM .

(Reuters) – Billionaire investor Warren Buffett is buying U.S. stocks, he wrote in an opinion column in the New York Times.

"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful," Buffett wrote in the paper.

Buffett acknowledged the economic news was bad, with the financial world in a mess, unemployment rising and business activity faltering.

"What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up," he said. "So if you wait for the robins, spring will be over."
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Old 10-17-2008, 03:50 PM   #55
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Buy low sell high? Hmmmmmmm? Ol' Waren may have something there...Maybe home buyers should have thought of this BEFORE they bought thier homes or took out a second or third mortgage on thier existing home. Dow down over 700 pts yesterday, feels like a ride at Disneyland.

Oil down to $70 a barrel, I'm still paying $ 3.30 a gallon ( yes, that's allot in the US). According to my calculations, I should only be paying $ 2.26. Funny how right around a presidential election prices drop!? Never to where they should be though...

Oh, and I here GM and Chrysler are planning to merge. Look for a formal announcement in 2 weeks... What would that to to stocks? I wonder if I should purchase 1 or the other BEFORE this happens? How does that work when companies merge? Advice anyone?
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For the truth is that I already know as much about my fate as I need to know. The day will come when I will die. So the only matter of consequence before me is what I will do with my alloted time. I can remain on shore, paralyzed with fear, or I can raise my sails and dip and soar in the breeze.

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Old 10-17-2008, 04:10 PM   #56
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Buy low sell high? Hmmmmmmm? Ol' Waren may have something there...
I think there is more to it than that or everyone would be buying now. Being able to get past the pucker factor of laying out cash on stocks that are droping like rocks takes some stones...or simply having lots of money
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Old 10-17-2008, 04:20 PM   #57
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It helps when your name is Warren Buffet. When he buys stock in any company, even a failing one, others are sure to follow. He makes money off everything he touches. The golden goose so to speak.
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For the truth is that I already know as much about my fate as I need to know. The day will come when I will die. So the only matter of consequence before me is what I will do with my alloted time. I can remain on shore, paralyzed with fear, or I can raise my sails and dip and soar in the breeze.

- RICHARD BODE
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Old 10-17-2008, 05:22 PM   #58
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No doubt, but a truly interesting guy nonetheless.
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Old 10-17-2008, 06:17 PM   #59
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Believe it or not, before my Dad retired from flying, he spent several hours talking with Mr. Buffet in the cockpit of a 747 returning from Japan. My dad heard from one of the flight attendants that he was aboard, so he invited him up front to hang out. Dad said the same thing you just did, "Very interesting guy...". He also said that he was very personable and inquisitive, not at all " snobby".

Did you hear about a week ago that he made $130 million in 2 days " playing" with the stock market? "Interesting"

Must be fun "playing" with money like that!
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For the truth is that I already know as much about my fate as I need to know. The day will come when I will die. So the only matter of consequence before me is what I will do with my alloted time. I can remain on shore, paralyzed with fear, or I can raise my sails and dip and soar in the breeze.

- RICHARD BODE
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Old 10-17-2008, 06:36 PM   #60
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Did you hear about a week ago that he made $130 million in 2 days " playing" with the stock market? "Interesting"
Yep it takes money to make money ...
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