Depression

Share your viewpoint - politics and policy: the good, the bad, and the politicians.
Forum rules
The rules are simple: you may not agree, but you can agree to disagree. Vehement altercations will not be tolerated. If you don't know what that means, pull out the old Webster. If you are still struggling, this forum isn't for you.

Depression

Postby pesetas » Tue Sep 30, 2008 7:32 am

Well I just discovered that I lost 8k from the S&P taking a crap yesterday. Not as much as I lost several years ago with the Microsoft fiasco but it still stings.

Ya know...I can understand that many in Congress are concerned that it would set a dangerous precident with this economic bailout but I really think it has to be done. Once we're roughly back on an even keel...then we can change or enact some legislation to prevent this from happening again...or...this is the fall of our empire...just ask the Romans...
"The clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him"
- Sun Tzu

...1500+ and still spamming...
pesetas
Master
Master
 
Posts: 1755
Joined: Fri Aug 03, 2007 3:04 pm
Location: Charleston, SC

Re: Depression

Postby MacK » Tue Sep 30, 2008 8:50 am

Here is the really sad part - if you spread the $700 billion across all taxpayers, it comes to just over $5000 per taxpayer. If you spread it across the 300M population, it is just over $2k per person. Most folks lost more than both of those numbers in the crash yesterday.
Here's to you, as good as you are, And here's to me, as bad as I am, But as good as you are and as bad as I am, I'm as good as you are, bad as I am.
Image
User avatar
MacK
Site Admin
Site Admin
 
Posts: 1466
Joined: Mon Jun 25, 2007 9:25 am
Location: Atlanta, GA
Human Verification: 8

Re: Depression

Postby *FDB*Hakko » Tue Sep 30, 2008 10:55 am

pesetas wrote:Well I just discovered that I lost 8k from the S&P taking a crap yesterday. Not as much as I lost several years ago with the Microsoft fiasco but it still stings.


When you say you lost 8k, I am assuming you sold your stocks or mutual fund. If you haven't sold, then don't worry, over the long term it will grow and then some. Think long term. You haven't lost anything if you haven't sold it yet. Just relax.

My mom called me and said she lost about $40k and I'm like, did you pull that money out and she said no and then I said you haven't lost anything, the value is down but given time it will recover.
lamaramal.wordpress.com
User avatar
*FDB*Hakko
White Collar
White Collar
 
Posts: 683
Joined: Fri Aug 03, 2007 3:04 pm
Location: Gerogia

Re: Depression

Postby pesetas » Tue Sep 30, 2008 11:07 am

No Hakko, didn't sell. My long term vision is extremely cloudy at the moment just like most average investors so I am considering this a loss of about 8%. In fact I've now brokered over 50% of my remaining investments into international stocks rather than leaving what's left in the S&P. I have no faith that we'll pull out of this in the near future. International stocks, although pricier at the moment, are much more secure. Government securities HA! They can kiss my a**...
"The clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him"
- Sun Tzu

...1500+ and still spamming...
pesetas
Master
Master
 
Posts: 1755
Joined: Fri Aug 03, 2007 3:04 pm
Location: Charleston, SC

Re: Depression

Postby MacK » Tue Sep 30, 2008 12:32 pm

Holding is the right way to do it, sadly not everyone believes the same thing, hence the crash.
Here's to you, as good as you are, And here's to me, as bad as I am, But as good as you are and as bad as I am, I'm as good as you are, bad as I am.
Image
User avatar
MacK
Site Admin
Site Admin
 
Posts: 1466
Joined: Mon Jun 25, 2007 9:25 am
Location: Atlanta, GA
Human Verification: 8

Re: Depression

Postby StrongMAD » Tue Sep 30, 2008 4:02 pm

Man, I wish I had 8K to lose! But that sucks Pes - but as everyone has said, just hold on to it, it'll recover. Pensions, investments are in the long haul, so you may take an occasional hit like this, the overall trend will probably be good in the long run. At the very least, wait for the dead-cat bounce. That markets will recover after a while and you'll be back where you started.

It seems to me that the cause of the problem lies at the very top of all these companies - the CEOs who get huge bonuses when they're successful and golden parachutes when they aren't. Why not take stupid risks with other people's money if there's no penalty for you?
*FDB*Loki - Couldn't hit a planet at close range...
StrongMAD
White Collar
White Collar
 
Posts: 498
Joined: Fri Aug 03, 2007 12:58 pm
Location: Pennsylvania

Re: Depression

Postby pesetas » Tue Sep 30, 2008 4:52 pm

Yeah guys...I'm holding...just hope I/we aren't left holding the bag.

On a different note, I noticed an article that the latest Mars contraption actually got photographs of snow falling on the red planet. Hmmm....wonder how many billions that cost...(biting lip) :Reddd:

Oh here it is... the Mars Phoenix cost. Although according to NASA it was only like 386 million.

"Phoenix cost about $420 million in total. The project was overseen by Jet Propulsion Laboratory and led by the University of Arizona."


Not nearly the billions I would have thought so I guess it's money well spent to learn about a planet we can never visit...whew...sorry...wrong forum.
"The clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him"
- Sun Tzu

...1500+ and still spamming...
pesetas
Master
Master
 
Posts: 1755
Joined: Fri Aug 03, 2007 3:04 pm
Location: Charleston, SC

Re: Depression

Postby StrongMAD » Tue Sep 30, 2008 7:07 pm

For every dollar spent on innovation of the space program, we see a return of around 7 dollars in terms of technological progress. As an example: If we hadn't spent so much on CERN in the first place, we wouldn't have the web on which we write this stuff. Aside from that, we have laser surgery, infra-red thermometers and solar cells. We've got GPS from fundamental research on relativity (without understanding time contraction the whole GPS system would fail) and satellite telecomms. Ultrasound scans, pacemakers and millions of little things that you don't even realize.

As for learning about Mars - we're looking largely for if life existed there. If so it casts a huge question over just how special Earth is for supporting life. After all, if we find that life existed on Mars at some stage, it'll be a good indication that it's in many other places too. Also don't write Mars off as a visit destination - it's not so likely in the short term, but long term it's our nearest neighbor and a good place to learn resource extraction - eventually we may even use this on comets which are abundant in elements that are scarce on Earth.
*FDB*Loki - Couldn't hit a planet at close range...
StrongMAD
White Collar
White Collar
 
Posts: 498
Joined: Fri Aug 03, 2007 12:58 pm
Location: Pennsylvania

Re: Depression

Postby pesetas » Wed Oct 01, 2008 7:57 am

I just knew that'd get a rise out of you Strong. Actually I'm all for space exploration but I have to think...to what end? I understand what you're saying and agree with you to some extent. It is frustrating to me though that we have so many financial crises in the world and still spend so much crashing probes into meteors and bopping around on Mars. I do enjoy my technical toys though. See, off on another tangent I go... :UmmmHmm:
"The clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him"
- Sun Tzu

...1500+ and still spamming...
pesetas
Master
Master
 
Posts: 1755
Joined: Fri Aug 03, 2007 3:04 pm
Location: Charleston, SC

Re: Depression

Postby Your Hero Jed » Wed Oct 01, 2008 10:38 am

The internet came for Gore, the Blackberry from McCain, and GPS and other stuff like that was reverse engineered from Megatron. Nice try though Strong. :madscience:
Fresh out of batteries, but we're still making noise.Image
User avatar
Your Hero Jed
Big Cheese
Big Cheese
 
Posts: 850
Joined: Fri Aug 03, 2007 3:04 pm
Location: Florida

Re: Depression

Postby StrongMAD » Wed Oct 01, 2008 12:17 pm

When the govt. is spending around $10 billion a month in Iraq and Afghanistan, I think it's obvious where the financial crisis is coming from. Think of research spending as an investment - it's proven to give very good returns on your money. Spending on wars? Not so much. The US runs on a high tech economy - todays yesterday's research is today;'s technology and tomorrow's meal ticket.

Jed: Of those, only the Gore one holds any water - his office did a lot of the basic funding and took interest, which is all he ever claimed :) McCain - wow! I didn't think he was up to the bronze era yet.
*FDB*Loki - Couldn't hit a planet at close range...
StrongMAD
White Collar
White Collar
 
Posts: 498
Joined: Fri Aug 03, 2007 12:58 pm
Location: Pennsylvania

Re: Depression

Postby pesetas » Wed Oct 01, 2008 1:31 pm

Had to go and get me started on the war effort eh? IMO- turn Iraq and the Afghan poppy fields into glass. End of spending right there and a nice little oil reserve for posterity (once the radiation dissipates). Oh and perhaps incorporate a quantum mechanics experiment into the mix.

Once upon a time even "civilized" man believed in reaping the spoils of war...evidently those days are long gone or are just more covert.
"The clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him"
- Sun Tzu

...1500+ and still spamming...
pesetas
Master
Master
 
Posts: 1755
Joined: Fri Aug 03, 2007 3:04 pm
Location: Charleston, SC

Re: Depression

Postby MacK » Wed Oct 01, 2008 2:50 pm

Agreed on the war comment. I am tired of pouring money into this - if we are going to pour money into fighting, do it in Afghanistan. We need to get out of Iraq.
Here's to you, as good as you are, And here's to me, as bad as I am, But as good as you are and as bad as I am, I'm as good as you are, bad as I am.
Image
User avatar
MacK
Site Admin
Site Admin
 
Posts: 1466
Joined: Mon Jun 25, 2007 9:25 am
Location: Atlanta, GA
Human Verification: 8

Re: Depression

Postby Majik » Wed Oct 01, 2008 3:40 pm

We need to do what was stated in the beginning, get Bin Laden. There is no reason to make the rest of the middle east hate us more.
We as a nation had never been the initial agressor until Iraq. We should be defenders if attacked. Mack, if by Ahghanistan you mean continue going after Bin Laden and even going into Pakistan if needed, I agree with you. Pakistan seems to be talking one thing but acting another.
Majik
Site Admin
Site Admin
 
Posts: 1730
Joined: Fri Aug 03, 2007 3:04 pm

Re: Depression

Postby MacK » Wed Oct 01, 2008 6:54 pm

Exactly, Maj.
Here's to you, as good as you are, And here's to me, as bad as I am, But as good as you are and as bad as I am, I'm as good as you are, bad as I am.
Image
User avatar
MacK
Site Admin
Site Admin
 
Posts: 1466
Joined: Mon Jun 25, 2007 9:25 am
Location: Atlanta, GA
Human Verification: 8


Return to Ardor of Opinion

Who is online

Users browsing this forum: No registered users and 1 guest

cron