Important FYI on economy

[Sidekicknicholas]

Today is a good day to own gold.... holy smokes.

[IRockNvegas]

Damn playa after reading your post makes me think of this



[ame]http://www.youtube.com/watch?v=GGXzlRoNtHU&feature=youtube_gdata_player[/ame]

I'm loving the the economy these days... I'm young (not too invested yet) so now my 401k contributions are going much much further. It sucks for those really in the market, but a guy like me it is awesome.

Everything is that way too, if you've got $1 today it goes a lot further than $1 in 2007. I'm about to write an offer on a house that I could have never bought 4 years ago. It was up for sale like 4/5 years ago for $400k and I'm writing my offer at 175k (shitty taxes because its waterfront though)... where I live is a lot of vacation homes, so people start feeling the squeeze and unload the "extras" like 2nd homes, sports cars, etc etc and I'm there to low ball them.

In the last 2 years I've gotten a super nice car at about 50% what I should have paid and a new boat for about 60% of what I should have paid.

Sorry for some of you who are getting hit hard, but there are some winners in this situation

[Sidekicknicholas]

Damn playa after reading your post makes me think of this

The stars alligned pretty well for me so far... and the icing on the cake, 2 vegas trips already in the works for next year, with a 3rd likely!

[drugpusher]

I made my previous comment saying I wasn't really concerned, but non-401k portfolio has gone to full cash haha.

Nice job, bro!! The average joe just can't bring themselves to do this. My retirement is 85% cash, 15% gold stocks since fall 2008.

It makes me sick to hear all my coworkers talk about holding stocks for the long haul. Like effin sheep.

Can you imagine what will happen when the boomers (median age 51) start cashing in their 401k's en masse?

IMO we are entering a deflationary depression and stocks/real estate will reach lows nobody could imagine back in 07.

Gold is pricing in massive inflation, while the 10 year treasury sits at 2.1%. One of these markets has to be wrong.

Best wishes!

[sidewalk]

I'm loving the the economy these days... I'm young (not too invested yet) so now my 401k contributions are going much much further. It sucks for those really in the market, but a guy like me it is awesome.

Anyone with a 401k who pulls money out is insane. The core strategy of 401k or retirement account is dollar cost averaging, which means you're putting money in all the time, whether the market is good or bad. When it's bad, you're getting great value for your money.

This recent downswing was just another buying opportunity for quality stocks. If I can get Apple 10-15% less than it was trading for a few weeks ago and it dropping for no main reason other than the macro economy, I'm buying all day. Same thing happened in 08/09 and I've more than doubled up twice from those investments. Sure, there is risk, and I dabbled in some less scrupulous equities than Apple, which have either underperformed the market, or have even lost money, the values are clearly present in the quality firms.

What's worth more today - $1 invested in gold in 2008 or $1 invested in AAPL in 2008.

[livingvicariously]

alright IRock, what's your pick for Bernanke's speech tomorrow?