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post #1 of 23 (permalink) Old 09-18-2009, 01:22 PM Thread Starter
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Do you feel richer?

American's net worth rose for the first time in two years and American's as a whole are 2 trillion Dollars richer now than they were 2 years ago. I'm sorry to say that I personally don't feel richer and I'm down about 15k from this time two years ago.

http://money.cnn.com/2009/09/17/news...ises/index.htm

TRAIN TRASH it's like WHITE TRASH but with money.

My other vehicle is a Locomotive.

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post #2 of 23 (permalink) Old 09-18-2009, 01:26 PM
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Uhh...not so much.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #3 of 23 (permalink) Old 09-18-2009, 01:30 PM
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redistribution of wealth?

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post #4 of 23 (permalink) Old 09-18-2009, 01:30 PM
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Obamabucks for everybody. We may have more money, but it's worth less.
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post #5 of 23 (permalink) Old 09-18-2009, 01:39 PM
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I'm down a lot more than 15K, but I still feel like I'm doing very well. I'd agree with the comment though about the dollar not being worth as much.

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post #6 of 23 (permalink) Old 09-18-2009, 01:44 PM
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I don't feel richer by any means, but I paid off all my cards since then, which my that alone increased my credit score 155 points.
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post #7 of 23 (permalink) Old 09-18-2009, 01:47 PM
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So, what is the exchange rate, obamabucks to reality based money??

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Jester, your posts do the same thing as going to a county fair, you really make people think "Hey, I'm not so fucked up after looking at that guy!"
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post #8 of 23 (permalink) Old 09-18-2009, 01:57 PM
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So, what is the exchange rate, obamabucks to reality based money??
Do not pass GO. Do not collect $200.

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post #9 of 23 (permalink) Old 09-18-2009, 02:05 PM
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I've done well % wise trading stocks this year but I do not live on that money so it does not directly effect me. My personal business sucks and I am about a month away from dipping into my reserves if things do not pick up.
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post #10 of 23 (permalink) Old 09-18-2009, 02:38 PM
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A blind retarded monkey could make money in the stock market this year so I'm not sure what this new story is trying to say.
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post #11 of 23 (permalink) Old 09-18-2009, 02:53 PM
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My little portfolio is up 30% so far this year even with two of my major players going bankrupt.

Outside of the stock market, I am making more money than I have ever made in my life. I am also spending more because I have to buy health insurance for myself, my wife and my son. Not only that but we bought a bigger house because we weren't even able to turn around in our townhouse.

Times are good for me right now but that can change very quickly. I am just trying to enjoy the ride.

Buying dogs kills.
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post #12 of 23 (permalink) Old 09-18-2009, 02:59 PM
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76% ROI last year. This year %68 so far.
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post #13 of 23 (permalink) Old 09-18-2009, 03:19 PM
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Quote:
Originally Posted by FreightTrain View Post
American's net worth rose for the first time in two years and American's as a whole are 2 trillion Dollars richer now than they were 2 years ago. I'm sorry to say that I personally don't feel richer and I'm down about 15k from this time two years ago.

http://money.cnn.com/2009/09/17/news...ises/index.htm
didnt you get married within the last 2 years??

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post #14 of 23 (permalink) Old 09-18-2009, 03:23 PM Thread Starter
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didnt you get married within the last 2 years??
No the wedding is set for next month. I'm less than 30 days out. I asked her last night how much I'd owe her dad if I called the whole thing off. That didn't go over to well lol.

TRAIN TRASH it's like WHITE TRASH but with money.

My other vehicle is a Locomotive.

Don't cupple up without protection.
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post #15 of 23 (permalink) Old 09-18-2009, 04:54 PM
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76% ROI last year. This year %68 so far.
Badass.
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post #16 of 23 (permalink) Old 09-18-2009, 06:14 PM
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Quote:
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So, what is the exchange rate, obamabucks to reality based money??
Beautiful sig!

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #17 of 23 (permalink) Old 09-18-2009, 08:18 PM
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I don't feel richer at all. Despite getting a raise at the end of last year, and another at the beginning of this year, I'm actually doing without a few things that I thought I would always have. (I DO feel that I have to have the internet though, lol.)

I've had to cut back big time.

68 Coupe- 351w, Twisted Wedge heads, XE284 cam, T5, disc conversion, former 6 cylinder car.


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(thats right, in a fucking duel with guns, Jackson allowed his oppenent to fucking shoot at him before shooting back). Now we have Obama, who is a little bitch. God damn the presidency of the US is just not the same as it used to be.
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post #18 of 23 (permalink) Old 09-19-2009, 12:23 AM
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Obamabucks for everybody. We may have more money, but it's worth less.
i never got mine?
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post #19 of 23 (permalink) Old 09-19-2009, 02:22 AM
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What do "Obamabucks" and "redistribution of wealth" have to do with this article? It says in the article

Quote:
The soaring stock market accounted for much of the gain. Stock holdings rose by 22% to $6.3 trillion, while mutual funds' value jumped 15% to $3.7 trillion, according to a Federal Reserve report released Thursday.
...
Since only half of Americans own stocks, with even fewer having significant holdings, only a narrow group of people benefited from Wall Street's springtime gains. The Dow Jones industrial average and the Nasdaq had their best performances since 2003 and the broader S&P 500 since 1998.
Did you dudes even read the article or are you just jumping to conclusions? Poor people on the receiving end of "Obamabucks" I highly doubt have stocks or mutual funds. If they did they wouldn't be needing money from the government.
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post #20 of 23 (permalink) Old 09-19-2009, 07:40 AM
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America, as a whole, stopped using their homes as ATMs, living within their means and saving more than at any time this decade.

If you really delve into the numbers you'll see the only real thing we, as a nation, did was stop buying so many new cars. The other large factor was we aren't spending nearly as much for energy.

Without getting too much into the numbers my first conclusion is... people without jobs don't need new cars and don't spend as much on gas to get to work and energy prices have fallen.

Combine that with the recent move in stocks (Dow is almost at a one year high, couple more weeks. Oct 6, 2008 - 9955, Sept 18 - 9820) which will bottom out and increase your long term money...

When the economy picks up will the savings rate go back down? Most likely. People will buy new cars, energy prices will increase with demand and the treadmill will start up again.


My 401K is now a 400K (was 301K)
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post #21 of 23 (permalink) Old 09-19-2009, 09:10 AM Thread Starter
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Originally Posted by 01WhiteCobra View Post
America, as a whole, stopped using their homes as ATMs, living within their means and saving more than at any time this decade.

If you really delve into the numbers you'll see the only real thing we, as a nation, did was stop buying so many new cars. The other large factor was we aren't spending nearly as much for energy.

Without getting too much into the numbers my first conclusion is... people without jobs don't need new cars and don't spend as much on gas to get to work and energy prices have fallen.

Combine that with the recent move in stocks (Dow is almost at a one year high, couple more weeks. Oct 6, 2008 - 9955, Sept 18 - 9820) which will bottom out and increase your long term money...

When the economy picks up will the savings rate go back down? Most likely. People will buy new cars, energy prices will increase with demand and the treadmill will start up again.



It's nice to know your still alive.

TRAIN TRASH it's like WHITE TRASH but with money.

My other vehicle is a Locomotive.

Don't cupple up without protection.
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post #22 of 23 (permalink) Old 09-19-2009, 09:30 AM Thread Starter
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Let me ask this questions.


Since Americans are saving so much right now wouldn't it be easy to conclude that once this recession is over the consumers ( people with jobs) will come back with a vengence. I personally know alot of folks that are holding onto their money right now because they are scared or uncertain and once things get a little better they will losen up those purse strings. People in general hate to do without and right now folks have been learning to do without for almost 2 years. It just seems like America as a whole is going to take a sigh of relief and when they do watch out. I'm as tight as they come and don't spend money on anything, but every once in awhile I'll get a hair up my ass and watch out. I can spend 5k to 10k like it was nothing. For the past year I've been resisting the urge to do some upgrades to my house that are going to run about 15k. I don't think I'll be able to make it to spring time without doing the upgrades lol.

TRAIN TRASH it's like WHITE TRASH but with money.

My other vehicle is a Locomotive.

Don't cupple up without protection.
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post #23 of 23 (permalink) Old 09-19-2009, 11:10 AM
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It will be interesting FT.

Probably this biggest portion of this bubble was due to people using their homes as ATM machines. I just read an article this morning where the analysts doesn't think home prices will be at pre-pop levels in America, on average, until 2020.

I'm not sure if it is doom and gloom to jump on the bandwagon but I also read a report where they believe retail is about to take a huge dump next year. 1000s of stores closing. The analyst says the American consumer has taken a definite turn in their habits and the high-end of the market (most margin) is all but dead. Companies like Kohl's, Dollar General and the 99-cent stores, in his opinion, will thrive. Abercrombie and their like will continue to struggle and downsize in the coming years.

If business didn't learn anything over the past 2 years and goes right back to hiring sure we'll get the infamous V-shaped curve recovery. If business holds back investment we might see a double dip.

We could be, as Big Ben says, done with this recession. Or the recession could be just taking a pause.

I'm still 50/50. Since I'm in the market research industry we typically lead coming out of the recession (companies predict an upturn and want to get their ducks in a row with consumer research) and I really haven't seen the activity yet. The next 3 months will be telling for me for next year as we negotiate next year's contracts. We've had a little interest and tire kicking but nothing concrete yet.

Having said that we thought we'd take a huge hit (like a double digit hit on revenues and earnings) and it hasn't been all that bad. End of the year will certainly look like it did 5 years ago in terms of distributions but I consider the last couple of years to be "abby normal." So, we're regressing to the mean in my opinion.

It has been interesting with people I know. People that were always doing things like 2 weeks at Atlantis or a month in Hawaii are doing family vacations by going out of state and staying with relatives. My family really hasn't missed a beat, taking vacations as normal, still buying clothes where we usually do, etc. etc. Wife is already chomping at the bit for a new ("I want european this time") vehicle. Not because I'm doing great this year but I wasn't blowing the cash during the "hey days" and was saving.

I'm all about steady as she goes. haha.

So here is two a v-shaped recovery but I'm thinking it will be a long prolong meh recovery with employment not getting back down into the 5s until late 2012 at the earliest.

Nothing else to do but drink some huge ass beers!

My 401K is now a 400K (was 301K)
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