Back to 2002 - looking forward to 2012

[markopolo]

Oct 5, 2008

I like to keep the posts here positive and upbeat. However, it's impossible to be positive about the global economic crisis affecting all of us.

It looks like the DOW will open lower on Monday. The TSX seems to pretty much follow the DOW.

http://www.bloomberg.com/markets/stocks/futures.html

It's really not looking good. I've spent far too much time reading every piece of financial news I can find for the past 18 months. The big picture seems incredibly bad. We may end up going back to 2002 for stocks and housing. That is just awful.

The reactions of the various governments are mind boggling (meaning I never thought I ever see anything like this)

Germany will guarantee all private savings accounts

France To Buy 30,000 Planned Homes To Boost Building Business

Interest rates in Britain will drop to a new 50-year low

More severe recession now forecast by Goldman Sachs

All banks that operate in Greece" will be "absolutely guaranteed",

Ireland guaranteeing all the debt of its top six financial institutions

We've all heard about the $700,000,000,000.00 bailout in the U.S.

U.S. bank failures almost certain to increase in next year

I watch these two sites:

http://globaleconomicanalysis.blogspot.com/

http://calculatedrisk.blogspot.com/

They've been way ahead of what is happening.

Fasten your seatbelts - we are in for a rough ride. It is doubtful 2009 will get any better. In 2010 and 2011 we'll hear much about all the problems with Alt-A and Pay Option ARM loan resets in the U.S.

With any luck 2012 will be better.

[Cornbread Red]

-Tough times never last, but tough people do.

It'll get better Marco. Stiff upper lip, eh.

Chip

[markopolo]

Originally Posted by Cornbread Red

-Tough times never last, but tough people do........

Good advice.

[markopolo]

Gotta like Mish!

http://www.youtube.com/watch?v=1YKc0UolTqE

[markopolo]

Mish

Inflation is robbery.

[julievojo]

Go read "The Mayan Prophecies", then see if you're looking forward to 2012......

[Mike]

How do you feel about the economy now?
Frankly, I'm a little disappointed with the news media coverage of it all.
I think a lot of the gloom and doom stories we hear about on channels like BNN and CNBC
just contributes to the negativity in the markets today, and over the past few months.
I'm also a believer that mass access to the markets through online trading services
exposes the major indeces to potentially damaging "lemming-like" reactions to the
stuff we get told about on television and radio with regards to the markets. Anyone
with a computer and a little bit of money to invest, can gain access and be directly involved
in causing the upswings and downturns of the DJIA, S&P500, or any other major world trading
forum. Human nature being what it is, it's not very difficult to imagine a mass exodus from a
stock or sub-sector, based on a poorly worded, or inaccurate story or statement, on TV or in print.

My only regret is that I didn't get our personal finances into a more defensive mode back
in October '08 when the meltdown began, because I was somewhere on I-80 in Iowa
or Nebraska on our first trip out in our new RV. I could have avoided a lot of the effect
of the market collapse/downturn, cal it what you will, on our retirement funds, but I
was out on the road having fun in our Roadtrek.

Just goes to show you, timing IS everything, for anything.

Oh well, live and learn, and don't worry, be happy!!!!

[renrut]

Originally Posted by julievojo

Go read "The Mayan Prophecies", then see if you're looking forward to 2012......

Well, there is no actual prophecy made by the Mayans. All they have is a calendar that ends in December 2012 when our solar system is supposed to move into another part of the galaxy. The date marks a transition to a new age in the Mayan beliefs and if they were still around, they would have probably made a new calendar. Now, if you look in to the topic, there's a lot. In fact, a lot of people have far too much time on their hands to come up with a lot of their claims.

You can also look at other prophecies out there. According to Nostradamus, we should have had a major war in 1999. According to another, the world would come to an end on 5-May-2000. That one was based on the Great Pyramid internal calendar. Heck, another "profit" said there would be a nuclear war in 1975 and the move "Fail Safe" (I think) was based on it.

Just live each day and enjoy it. 2012 will more than likely come and go like 9-Sept-1999 and 1-Jan-2000.