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Financial discussion thread. 
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Colonel

Joined: Mon Jun 23, 2008 9:48 pm
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Post Financial discussion thread.
Well, in times like these, I'm glad I've invested the way I did. I'm UP from where I was last week despite 2 key days on stocks plummeting.

But anyways, since we're all spread out around the world I'm curious how:

1) The financial state is where you live

2) Have you been majorly effected by the downturn of major world markets (we've ALL been effected, but looking for anything specific)

3) Do you invest your money or would you like any advice on how to start or what you should do with your current investments. Maybe people here can help point others in the right direction.

I'm in Canada, and the plunge in the US market will continue to hurt our exports, but on the plus side the housing market is stable. In Canada most places require a down payment (sometimes up to 30%) and I think soon 0-5% down payment mortgages will actually be against the law. At least in BC anyways. Everything seems stable here in Canada, but anything that effects the american economy eventually nails us as well. The more money they have to spend the more lumber, smoked salmon, maple syrup and hockey sticks we can send their way :)

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Thu Oct 02, 2008 8:26 pm
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Im in California. This whole country is basically fucked. Unless congress gets their thumbs out of their asses and agree on something. No, not put another bill in motion, I mean pass the fucking thing. Agree on something and put it to use, that's what we elected them for.

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Fri Oct 03, 2008 5:25 pm
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Colonel

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Is it all over the USA or does it seem some areas get hits more than others? Or is it a certain "class" people?

Although from what I've heard (which isn't honestly much) it's everyone and everywhere.

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Fri Oct 03, 2008 7:20 pm
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Well, right now its just the wealthy investors and banks that are hurting. But soon it will start to effect the middle and lower classes. In the long run, people will be denied loans because of this crisis. There is a good chance I will not get my much needed college loans in two years. This is just the beginning, the effects of this crash will hurt us for years to come. This is exactly how the great depression started in 1921 and if we don't do anything about this soon we will fall into another great depression.

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Sat Oct 04, 2008 1:52 am
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*1929 is when most most of the world fell into the great depression. Historians usually set the start date at oct 29th when the stock market crashed, but they still debate over why exactly it happened.

also looks like the bailout bill passed... lets see where that gets us

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Sat Oct 04, 2008 12:59 pm
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Dick Motorman wrote:
*1929 is when most most of the world fell into the great depression. Historians usually set the start date at oct 29th when the stock market crashed, but they still debate over why exactly it happened.

also looks like the bailout bill passed... lets see where that gets us


I just never want to hear these "Free market" capitalists ever cry about socialism again. The market did it's thing with no oversight and it fell on its ass, now they want the government to help out these rich assholes. Healthcare for everyone? That's ABSURD! Bailouts for failed corporate ventures? GENIUS!


Sat Oct 04, 2008 1:26 pm
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Dick Motorman wrote:
*1929 is when most most of the world fell into the great depression. Historians usually set the start date at oct 29th when the stock market crashed, but they still debate over why exactly it happened.

also looks like the bailout bill passed... lets see where that gets us


Ah shit! I knew that, my mistake. Anyway I hope the new bill actually works.

James_The_Stampede wrote:
Dick Motorman wrote:
*1929 is when most most of the world fell into the great depression. Historians usually set the start date at oct 29th when the stock market crashed, but they still debate over why exactly it happened.

also looks like the bailout bill passed... lets see where that gets us


I just never want to hear these "Free market" capitalists ever cry about socialism again. The market did it's thing with no oversight and it fell on its ass, now they want the government to help out these rich assholes. Healthcare for everyone? That's ABSURD! Bailouts for failed corporate ventures? GENIUS!


Good point, but if we don't help the rich people we will all eventually fall. We need to fix the problem now even if it means helping the rich people because in the long run, the middle and lower classes will suffer as well.

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Sat Oct 04, 2008 8:29 pm
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Commander_AK-47 wrote:
Good point, but if we don't help the rich people we will all eventually fall. We need to fix the problem now even if it means helping the rich people because in the long run, the middle and lower classes will suffer as well.


Eh, I don't believe this at all. The whole idea of "trickle down economics" is absurd. Companies don't increase profits by paying their workforce more, they increase it by shipping jobs overseas, tax loopholes, and just generally fucking over the middle and lower class. In the long run, bailing these guys out just delays the eventual collapse, and we will be stuck holding the bill. All congress did is hand these guys some viagra to fuck us over longer, and lube for the general public was not in the bill.


Sat Oct 04, 2008 10:46 pm
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James_The_Stampede wrote:
Eh, I don't believe this at all. The whole idea of "trickle down economics" is absurd...In the long run, bailing these guys out just delays the eventual collapse, and we will be stuck holding the bill. All congress did is hand these guys some Viagra to fuck us over longer, and lube for the general public was not in the bill.


If the higher class falls we will also fall. Think about it. They are the bankers and investors. If they fall we will loose all our money in the banks and in stocks. The government will then try to help the banks get up on their feet which will take priority over school loans and bank loans. Therefore if the upper class falls we will be suffering as well.

James_The_Stampede wrote:
Companies don't increase profits by paying their workforce more, they increase it by shipping jobs overseas, tax loopholes, and just generally fucking over the middle and lower class.


So what do you suggest? Turn to Marxism? Yes, the system is fucked up but that is the price of capitalism. Capitalism gives everyone a free chance to succeed but it also gives the people who do succeed the chance to fuck everyone else over, we cant change that.

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Sun Oct 05, 2008 12:02 am
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What do I suggest? Letting the market do it's thing and giving them exactly what they've always wanted (Unregulated, unsupervised capitalism with no government intervention) . Fail hard enough and maybe they'll reconsider their approach.


Sun Oct 05, 2008 12:26 pm
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Reconsider what? Capitalism? Democracy? If they fail, our lives will become shit. It may be a bad situation but it's a bad situation we have to keep going or else we will become broke and homeless.

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Sun Oct 05, 2008 8:30 pm
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Post Re: Financial discussion thread.

I just never want to hear these "Free market" capitalists ever cry about socialism again. The market did it's thing with no oversight and it fell on its ass, now they want the government to help out these rich assholes. Healthcare for everyone? That's ABSURD! Bailouts for failed corporate ventures? GENIUS!


Truth.

Reconsider what? Capitalism? Democracy? If they fail, our lives will become shit. It may be a bad situation but it's a bad situation we have to keep going or else we will become broke and homeless.

That might not be a bad thing. This could be the beginning of a much needed cultural change. That's just my opinion though. And besides, it doesn't matter that much. Life goes on regardless of the outcome of this situation.


Mon Oct 06, 2008 1:06 am
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Sorry if it's just me, but that sounds really communist.

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Mon Oct 06, 2008 8:43 am
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Actually, it doesn't. Nowhere in that scenario is a collective developed, we wouldn't be ruled under one "great leader" and I doubt that everyone would start pooling things together. That is anything but communism.

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Mon Oct 06, 2008 10:17 am
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seraphssavior wrote:
Actually, it doesn't. Nowhere in that scenario is a collective developed, we wouldn't be ruled under one "great leader" and I doubt that everyone would start pooling things together. That is anything but communism.


That's what I'm saying. Tweak or overhaul the model, not completely destroy it. We need to find out (a) what went wrong (b) how we can prevent it from happening again and (c) how to minimalize the impact on the citizenry if it does. People are still clinging to the idea that what we have in place is fool-proof when it is very clear that it is not.


Mon Oct 06, 2008 12:41 pm
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Post Re: Financial discussion thread.
Sorry if it's just me, but that sounds really communist.

Was that directed at my statement? I'm sorry if that's what it sounded like, as that was not my intent at all. I think this will be the beginning of a change that reaches much farther than just politics. Change is in the wind.

*Dances like a hippy*

Joking aside, I have some bad news for everyone.

http://www.breitbart.com/article.php?id ... _article=1


Mon Oct 06, 2008 2:16 pm
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Anubis wrote:
Sorry if it's just me, but that sounds really communist.

Was that directed at my statement? I'm sorry if that's what it sounded like, as that was not my intent at all. I think this will be the beginning of a change that reaches much farther than just politics. Change is in the wind.

*Dances like a hippy*

Joking aside, I have some bad news for everyone.

http://www.breitbart.com/article.php?id ... _article=1


Yea, I just read that. HORRAY FOR THE BAILOUT!
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Mon Oct 06, 2008 2:37 pm
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Yea, I heard that on the news this morning.

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Mon Oct 06, 2008 5:03 pm
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More good news:

http://moneycentral.msn.com/detail/stoc ... al_average

Even better news:

http://abcnews.go.com/Blotter/story?id=5973452&page=1

FUCK YOU....I can't believe that.....


Tue Oct 07, 2008 3:18 pm
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Anubis wrote:


It gets better!

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This is days after we, the taxpayers, spent 85 billion dollars to bail these cocksuckers out. Almost 1/2 a million to hold a meeting at a fucking resort. But remember, we NEED to help these guys out or else they won't throw down crumbs for the rest of us!


Tue Oct 07, 2008 4:02 pm
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You still don't get it. Our wealth is in banks. Banks are owned by "them". Thye invest our money the banks procure. When they fall we fall.

Wft? Why is my sig a IMG link?

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Tue Oct 07, 2008 5:03 pm
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Commander_AK-47 wrote:
You still don't get it. Our wealth is in banks. Banks are owned by "them". Thye invest our money the banks procure. When they fall we fall.

Wft? Why is my sig a IMG link?


Which explains why they need to have 1/2 million dollar vacations on us? No, sorry, FUCK them. How anyone can defend this behavior is beyond me. They will never share their wealth with you, stop kissing their ass.


Tue Oct 07, 2008 5:46 pm
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Its not THEIR wealth! They are investing OUR wealth! I'm not kissing anyone's ass, I won't get a student loan because of this bull shit!

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Wed Oct 08, 2008 4:42 pm
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So get a fucking job, and pay your own way.

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Thu Oct 09, 2008 1:13 am
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Post Re: Financial discussion thread.
Student loans help greatly man. I really think they can make or break someone.

My wife and I (girlfriend at the time) were completely broke from poor families and there's NO WAY she would've been able to go to the school she did to get her degree without student loans. She and I both worked and we still needed the loan for her to get in there. Our families had no money to help us at all either.

Now, years later, we both make good salaries and the only debt we'll ever have is our mortgage. Other than that borrowing money or getting things on credit is a foreign concept to me. Had she gone to a lesser school (or more realistically put it off for a couple years) we wouldn't be where we are today, especially as her income let helped me to get my education after.

If I turned back the clock back to that time and the letter for the loan said "denied' instead or "approved" I'd be terrified. I feel that loan was a significat turning point in our lives.

Even if you get it you should still work though. It does suck getting out of school and seeing the tens of thousands in debt. Although here in Canada (I don't know about the USA) the interest rates on student loans is very low (below the prime rate) plus you get tax breaks at the end of the year for the interest you pay on that loan.

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Thu Oct 09, 2008 1:47 am
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