Recession

[wakosama]

You people lost me a long time ago. I can't imagine any honest person having the kind of money so blithely discuss. Everyone in that league I ever met was a greed scamming thief, liar, cheat or money monger. A racist bigot or a blood sucking deviant living off of other peoples hard earned money. Every time I ever go a bit of wealth someone cheated me out of it. They stole my investments, my 401, my pension or taxed me out of my home and assets. Up north, down south. Didn't matter where. So I'm not sympathetic to whining about depleted stock portfolios or having to get a smaller pool or a 'cheap' thermal scope that cost's more that the car I can't afford to buy my daughter who can't get a scholarship because she isn't among the favored ones. I shamefully hope sometimes that such people gets screwed by the unmentionably favored or richly endowed lawyers. And then forced to live where the special folks dogs will attack them on their side of the street when you try to take a morning neighborhood walk.

What shames me the most is how many times I tried to be and wanted to be a liar and a cheat and a thief and a cold hearted shallow minded bigot because that's how I saw the people around me got wealthy. Still, and even after all these years, and even here in Texas, I still just don't see or imagine how it can be otherwise. And if there was a way no one bothered to share their secret. They just lifted their resculpted nose and sniffed. JMHO YMMV...

 

[Vaquero]

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[kbaxter60]

It will come back.

"Past performance does not ensure future returns"...or something .

 

[TexasRedneck]

You people lost me a long time ago. I can't imagine any honest person having the kind of money so blithely discuss. Everyone in that league I ever met was a greed scamming thief, liar, cheat or money monger. A racist bigot or a blood sucking deviant living off of other peoples hard earned money. Every time I ever go a bit of wealth someone cheated me out of it. They stole my investments, my 401, my pension or taxed me out of my home and assets. Up north, down south. Didn't matter where. So I'm not sympathetic to whining about depleted stock portfolios or having to get a smaller pool or a 'cheap' thermal scope that cost's more that the car I can't afford to buy my daughter who can't get a scholarship because she isn't among the favored ones. I shamefully hope sometimes that such people gets screwed by the unmentionably favored or richly endowed lawyers. And then forced to live where the special folks dogs will attack them on their side of the street when you try to take a morning neighborhood walk.

What shames me the most is how many times I tried to be and wanted to be a liar and a cheat and a thief and a cold hearted shallow minded bigot because that's how I saw the people around me got wealthy. Still, and even after all these years, and even here in Texas, I still just don't see or imagine how it can be otherwise. And if there was a way no one bothered to share their secret. They just lifted their resculpted nose and sniffed. JMHO YMMV...

Define "wealthy"....your whining discourse was too convoluted to follow. In a nutshell, it seems that you've lived a life without learning lessons - but it's everyone else's fault. MOST of the "successful" folks I know have learned repeatedly at the well of stupid moves...but they learned. Sure - there's wealthy crooks out there, but there's also well-heeled folks that will spend $500 to make a $5 mistake on their part right. As to a scholarship....that's a helluva entitled attitude. My granddaughter is currently attending college....debt free...because she did her homework, found a path to education that was affordable and is within her means. She managed to get a couple of $1k scholarships by digging around like a hobo in a dumpster. Life is going to be what you make it. I had an ex that emptied my 401k about 25 years ago. I don't have time to whine about it, I did what was needed to rebuild things and moved on. Yeah - she was a POS thief....but *I* also screwed up - and learned my lesson.

I don't have time to be a victim - I've got a life to lead. You go ahead and sit in the corner and blame everyone else.

 

[oldag]

You people lost me a long time ago. I can't imagine any honest person having the kind of money so blithely discuss. Everyone in that league I ever met was a greed scamming thief, liar, cheat or money monger. A racist bigot or a blood sucking deviant living off of other peoples hard earned money. Every time I ever go a bit of wealth someone cheated me out of it. They stole my investments, my 401, my pension or taxed me out of my home and assets. Up north, down south. Didn't matter where. So I'm not sympathetic to whining about depleted stock portfolios or having to get a smaller pool or a 'cheap' thermal scope that cost's more that the car I can't afford to buy my daughter who can't get a scholarship because she isn't among the favored ones. I shamefully hope sometimes that such people gets screwed by the unmentionably favored or richly endowed lawyers. And then forced to live where the special folks dogs will attack them on their side of the street when you try to take a morning neighborhood walk.

What shames me the most is how many times I tried to be and wanted to be a liar and a cheat and a thief and a cold hearted shallow minded bigot because that's how I saw the people around me got wealthy. Still, and even after all these years, and even here in Texas, I still just don't see or imagine how it can be otherwise. And if there was a way no one bothered to share their secret. They just lifted their resculpted nose and sniffed. JMHO YMMV...

Blanket judging people by their bank account is just as wrong by blanket judging people based on the color of their skin.

I have known rich people who were not good people. And I have known poor people who were not good people. And everything in between.

I have known many wealthy people who were incredibly ethical and generous. Most of whom you would never guess that they were wealthy.

I have also known people with scarcely a dime who were incredibly generous, happy and content.

I have been flat broke several times in my life. A couple of times because I would not do something unethical and parted paths with an employer. But I do not blame everyone in the world for that. Don't care for the company president, I admit. The Good Lord saw us through those times.

Sad to see someone so bitter.

 

[oldag]

"Past performance does not ensure future returns"...or something .

Stock market has always cycled, down and up, and always will - barring total collapse of society. And if the latter occurs, it won't matter where/how your money was invested.

 

[1911'S 4 Me]

Must be a miserable and depressing life @wakosama lives.
Always negative and blaming everyone else for his problems.
I would sure hate to have to be around him/her/whatever.

 

[TexasRedneck]

Stock market has always cycled, down and up, and always will - barring total collapse of society. And if the latter occurs, it won't matter where/how your money was invested.

....and I'm in there snatching up bits and pieces of stuff while it's on sale.....lol

 

[Havok1]

You people lost me a long time ago. I can't imagine any honest person having the kind of money so blithely discuss. Everyone in that league I ever met was a greed scamming thief, liar, cheat or money monger. A racist bigot or a blood sucking deviant living off of other peoples hard earned money. Every time I ever go a bit of wealth someone cheated me out of it. They stole my investments, my 401, my pension or taxed me out of my home and assets. Up north, down south. Didn't matter where. So I'm not sympathetic to whining about depleted stock portfolios or having to get a smaller pool or a 'cheap' thermal scope that cost's more that the car I can't afford to buy my daughter who can't get a scholarship because she isn't among the favored ones. I shamefully hope sometimes that such people gets screwed by the unmentionably favored or richly endowed lawyers. And then forced to live where the special folks dogs will attack them on their side of the street when you try to take a morning neighborhood walk.

What shames me the most is how many times I tried to be and wanted to be a liar and a cheat and a thief and a cold hearted shallow minded bigot because that's how I saw the people around me got wealthy. Still, and even after all these years, and even here in Texas, I still just don't see or imagine how it can be otherwise. And if there was a way no one bothered to share their secret. They just lifted their resculpted nose and sniffed. JMHO YMMV...

What do you mean “they stole my investments, my 401 my pension”? If you’ve been invested for a lengthy time your investments should still be worth more now than in the past. If someone literally manages to steal from your accounts(which is nearly unheard of) then that’s a whole separate issue.

"Past performance does not ensure future returns"...or something .

This is true, however it is typically shown to be true mostly with individual stocks, not the market as a whole over the long term. But maybe we we will one day reach a top that never gets surpassed.

....and I'm in there snatching up bits and pieces of stuff while it's on sale.....lol

Yep. When people are fearful is when I’ll be greedy!

 

[popper]

Just looked up the 2019 crime stats for Plano Tex. 2% drugs, 2% fraud/theft. 0.5% violent crime. 291K population. primarily a R county. Haven't looked at Dallas, S. A. or Houston yet.
Recession is Fed and Congress created.
Mom and 2 kids at 27K$/Yr get 27K/yr SNAP = 54K$ annual + tax credit/other welfare.
1947 Dad bought a house, 1300 sq ft 10K$ @ 2%. Post war and trying to get the economy back on foot. My first was 1400 sq ft, 28K$ @ 9% FHA/VA loan. Next was 50K$ @ 7% normal.
5-6% interest is very reasonable and controls inflation.
0.5% just provides cheap and risky loans and was started to 'help' the economy grow. Basically 'free' $ to companies. 3% house - Buy too much house. 4K sq-ft @ 450K is VERY risky but Gov decided to stop redlining.
Low interest rate gets too much spending on un-needed stuff. Kinda like welfare - you don't see the train coming.

 

[TheDan]

....and I'm in there snatching up bits and pieces of stuff while it's on sale.....lol

Yeah that's the way to do it. Buy specific companies you like while the market overall is down.

 

[popper]

Brandon gas tax relief - god for 3 months after congress passes it after july recess. So only good till Nov voting day. So obvious!!

 

[pronstar]

Since they’ll lose out of gas tax revenue, they’ll make it up with another tax, so it’s a net-zero gesture.


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[TX OMFS]

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