Shades of 07-08?

Discussion in 'Financial Cents' started by Big Ron, Oct 12, 2019.

  1. Big Ron

    Big Ron Monkey++

    It looks like we have the same kind of events going on. Gov. spending and debt. Add the Banks borrowing from the Fed? The nervous gambling of Wall Street? I think the attacks on the President and our system are hurting the country. Democrats are using rules for radicals strategy to come back into power.
    Big old Balck Swan kind of events? When Trump won the election and the talk was about deregulation we had optimism going on, now?
  2. Dunerunner

    Dunerunner Brewery Monkey Moderator

    Let the Dems win and I predict that flame of optimism will be extinguished.... JMO
  3. Tempstar

    Tempstar Praeclarum Site Supporter+

    There are a lot of factors in place now that weren't back then. Lending is more stringent and checks are in place to stop run away losses on the market to list a couple. No doubt the Democratic focus on destroying Trump is hurting the economy, at a time when they should be helping strengthen it.
    mysterymet likes this.
  4. Wildbilly

    Wildbilly Monkey++

    Yea, but man there will be like peace, love, acceptance, equality, butterflies and flowers!:)
  5. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    Let's just say the Democrats win, no matter what the voting outcome truly is, let's just say they win via a little backdoor soft shoe, and then they run the country into the ground causing collapse... Do you think the Democratic voters will hold their leaders responsible? Would that be the event to awaken them to reality?
  6. techsar

    techsar Monkey+++ would all be Bush's and Trump's fault.
  7. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    Unfortunately, I believe you are correct.
    Altoidfishfins likes this.
  8. Altoidfishfins

    Altoidfishfins Monkey+++ Site Supporter+

    You forgot unicorns.
    Tempstar and mysterymet like this.
  9. Altoidfishfins

    Altoidfishfins Monkey+++ Site Supporter+

    If the communists win, I'm going to think seriously about pulling cash out of 401ks. They're talking about free college, free health care even for illegals. Then they think they're going to pay for all of this by taxing the "rich", who will simply move their money overseas.

    The only two ways left to pay for all this will be by taxing the middle class, or printing money. There's some $14 trillion in 401ks, a really juicy target that would probably pay for all those free programs for a year or two. When that's gone, they'll need to begin printing even more money.
  10. Meat

    Meat Monkey+++

    Realtors and bankers lending money have short memories. Of course so do some of us suckers. I’d like a nickel for every time I’ve heard someone bragging about how much their house is worth now. It’s fake money bro. *end of rant* :D
  11. BenP

    BenP Monkey++ Site Supporter+

    I pulled all of my money out of my 401k and bought cows and some old hay equipment. My company matched 100% of what I put in there so I already made 100% profit on the money minus the 10% penalty for pulling it out. Pigs get fat, hogs get slaughtered, 90% profit is good enough for me, I am not risking all that money in a stock market that is driven on emotion instead of sound balance sheets.
    Mountainman, Altoidfishfins and SB21 like this.
  12. mysterymet

    mysterymet Monkey+++

    I am afraid of this too!
  13. mysterymet

    mysterymet Monkey+++

    I was thinking about converting some of mine to a physical gold ira that you keep possession of. Anyone done that before?
    Mountainman likes this.
  14. ghrit

    ghrit Bad company Administrator Founding Member

    I have not. I can't provide the security for a pile of shiny stuff, but would consider it if there were a way.
  15. STANGF150

    STANGF150 Knowledge Seeker

    I've been hearing lately of people getting no down payment home loans!! Young people that have never owned a home before!!!
  16. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    Just another SubPrime loan scam...
  17. Mountainman

    Mountainman Großes Mitglied Site Supporter+++

    Never stopped. Sold a house to a first time buyer couple with nothing down during the Zero (Obama) years. Some morons never learn from history.
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