Monday, October 27, 2008

Looking through the archives

I recall moving some funds awhile back to a safer place but couldn't remember exactly when until I read an old post. It was way back in October of 2006 that I saw the beginnings of the current mess we're experiencing. The easy way to do this is to check the financial gurus and look at a general consensus of what they think. You'll always have those guys that are touting that things are great and you should buy buy buy. General consensus says otherwise. This is going to be a down economy for a year to 18 months. That is because we went to high to fast and the debt that's been racked up is still not been addressed. You may or may not know that not one nickel of that $700 billion has been spent. It's only promised with no real plan in place for it's implementation.

Feb 2007

That promise of big bucks was enough to make the markets rise enough so that those who were stuck with shorts could dump them before the toilet flushed and they'd be stuck with worthless paper. It worked and while the MSM gurus were telling everybody to hang on and wait out the storm, the guys with the shorts were making a killing. An estimated $2 trillion dollars was sucked out of the market and retirement savings when this happened. Sadly there will be more foreclosures, lay offs, and market losses in the coming year. Then there'll be the issue of inflation but I won't go there just yet.


BBC said...

Utah Savage thinks I'm a boring old fart, I think that she is a stupid fat ass. He, he, he.

Anyone that thinks they understand politics is stupid, and she is a washed up model that has a fat ass.

Anyway, I've seen this coming for at least five years. In some ways I've drug my butt setting some things up but all in all I'm better set than a hell of a lot of other people.

The only thing that could hurt me much is if my SS money stops coming. But not much, it would just mean that I would have to go back to work.

But with my skills I could easily pick up enough work right at home to keep getting by. When times are hard folks are always looking for a mechanic or welder that is willing to work for a reasonable price.

And I have all the tools and equipment. So called hard times in the past were always good to me and I see no reason why that would change now.

I thank the universe I wasn't a model and actually learned some things. Looks pass, skills don't.

BBC said...

Hey, your comment garbage can is back, I wonder why mine isn't.

Demeur said...

As I recall back in the early 80s there wasn't any work other than phone solicitor or stripper. I don't think you'd make it in either of those Billy.

About the trash can I guess your blog has constipation. ha ha

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