As everyone starts dumping their stocks and prices plummet, is now the time to buy?
I was thinking of sinking a few into a Roth IRA to count towards my 2007 tax year - curious what you guys think about doing something like that in this climate?
As everyone starts dumping their stocks and prices plummet, is now the time to buy?
I was thinking of sinking a few into a Roth IRA to count towards my 2007 tax year - curious what you guys think about doing something like that in this climate?
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Tough to tell. I would say absolutely YES, if the intenational markets were in good shape, but thats just not the case. Its an awesome time for folks to be investing into their 401k (very long term). Bottomline, not having debt during this strom is going to be your best bet. Whatever you do, ensure your willing to lose what u put in. High Risk , could mean high payoff, or not.
Stay the course.
[AK]Bribo
If you were a zombie and I had to kill you, I'd feel sad.
Isn't it interesting that talk of an economic downturn ALWAYS happens as elections approach?
Don't buy it.
I'd buy if I had the free capital - all pending the company you're investing in of course. Times like this are great for dollar cost averaging. I love listening to people when they say "I lost $xxxxx in my 401K this month". My response is usually: "REALLY? I didn't know you retired and started withdrawing money from your 401K?" The usually response is "I don't know what you mean". Well if you aren't retiring tomorrow and rolling over and pulling money from your 401K, 'YOU HAVE LOST NOTHING.' *Steps off one soap box and onto another*
As far as debt.... it's going to be a great time to use debt because the spineless Bernanke is going to cut rates to pacify the Wall Street cry babies and the idiot politicians at the cost to our long term economic outlook. Might be a good time to be buying Mexican Peso's - they'll be worth more than the dollar by the end of 2008 if the idiot Politicians and Wall Street "bonus" boys get their way.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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Well there is going to be a 'downturn', the Beige Book data is already demonstrating that. The problem is the word "recession" being thrown around. Even if the economy drops to .00001% growth, it's still GROWTH and NOT a recession. Main stream media don't understand what the definition of recession is when there is a Republican President.
For the record, I'd don't believe the downturn is going to be as significant as the media 'wants' it to be.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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It's all voodoo. Every holiday season is the same...I'm have to fight through ever increasing mobs to buy presents, and then when I return home I listen to the news talk about how dismayed the stores are that nobody's buying anything. It's crap.
Doom and gloom is bread and butter for the Democrats. Expect any ordinary downward blip to be played up to the hilt.
You sound just like me when I'm at a store or restaurant. I always say to my wife... "look at all these 'poor' people who have no jobs or money getting free goods and meals from these fine establishments."
Oh, and the spineless dolt Bernanke just dropped the rates by 75bp. So when you are earning -.50 on your savings accounts at your local financial institution and the illegal immigrants don't want to be paid in dollars any longer - you'll know why.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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Just as a follow up - Bernanke, the Fed idiot, has really screwed the pooch. He cut rates .75 basis points - boy the market rebounded, didn't it? We have institutions who won't even give us rates for investments because they don't know what to do. Pretty sad as a financial institution we can't invest our cash on hand because other institutions don't know what to do thanks to the Fed.
Anyways, all the crazies on TV aside, I got hungry and went out and got myself an Apple. Actually, I got myself some Apples at $128 each. MMMmmmm
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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Wait until they cut again next week. The fun is just starting and with the Fed cuts, that country wide deal is looking better. Fun Times!
Yeah... Wall Street won't be happy until the rate is 1%. And the market still won't respond. It's very unsound monetary policy. With rates so low, when the economy ACTUALLY has a downturn in production, the Fed will have no effective tools left in their bag because they won't be able to lower the rates without totally collapsing the dollar.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
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