Wow! Markets are getting killed.
Posted by Frugal on October 10th, 2008
It almost looks like that this market will break 2002/2003 bear market bottom. Just another day and it will be there.
Here is something for food of thoughts, from Todd Harrison:
The path of maximum pain for most Americans plays out like this: The savers—those who sold stocks and/or preserved capital—get the double whammy when the dollar debases and everything denominated in dollars jacks higher.
Is there something logical and really big behind all of these crashes?
Be extremely careful.
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October 10th, 2008 at 6:32 pm
Well, a new study for the Bay Area by Beacon Economics says that it will be at least 4 years for Cali real estate to recover. So, we’re stuck here for 5 years at minumum…. They also quoted that unemployment will peak at 10%????!!!!! WTF??? Hard to believe…
October 11th, 2008 at 11:26 am
Can you believe that everything save for shorts and USD are getting whacked (even gold is off its high although it has held steady and a bit rising)?
I thought I was conservative in investment (I mainly stayed out of the stock market) and yet I’m still down about 9% this year. But then I look at other folks that are down more than 30% and think to myself…whew!
I think 7000 would probably be the bottom but it’ll probably float between 7k and 8.5k for awhile and probably won’t see 10k for another couple of years as fundamentals (i.e. quarterly reports) are not going to look good for the next several years. Again, just my speculation.
October 12th, 2008 at 9:30 am
Best to look at buying PHYSICAL gold and silver.
Talked to the rep that I buy from at a major precious metals dealer. He said they have not had any 100 oz. bars of silver to sell for two weeks. Physical silver supply is tight.
If you buy know, ask when delivery is. May be 4 to 6 months out. Best to pay premium and get it upfront and take delivery know.
The days of gold and silver are back. Bye, bye paper fiat money!
October 15th, 2008 at 2:26 pm
I agree with with Mike- 5 yr minumum until I can think about selling my home. I stuck in suburbia!