How's That Deferred Comp?
- There were few places for money to hide Thursday as stock prices came hurtling down.
The steepest drop since the meltdown era of 2008 spared no sector in the stock market. Commodities were no good as a safe haven and even gold and silver, favorites of the pessimists, sustained losses too.
On a day that recorded the highest trading volume in more than a year, the major stock indexes fell by 4 percent to 5 percent, building on earlier losses in Europe. The rout eliminated any gains this year, with the Dow Jones industrial average falling 512.76 points, 4.3 percent, to 11,383.68.
Remember, it's the economy, stupid. And they're releasing the July employment numbers this morning. Might be another wild ride.
Labels: we got nothing
posted by SCC at 12:01 AM
41 Comments:
Buy Ammo you will need it for the coming world wide collapse
The Obama administration is using the Cloward-Piven strategy to cause the economic collapse of America...Keep on the rose-colored glasses and keep voting for Democrats and you will ensure your own economic demise...Google the Cloward-Piven theory/strategy and understand exactly why some things have occurred.
Been in all cash for the last 2 years drawing 3.5-4.0% yield, it adds up when you have a pretty good sum of money working. In my regular accounts I have been short the market for the last year. It's going to get a lot worse too. In my opinion we have to go back and test the lows after the housing crisis. You can't have record deficits, high unemployment and expect the economy to be strong. The last 2 years of market run-up has been due to the government propping up the market, (TARP, QE 1&2, Stimulus). We were 2k on the Dow from all time highs recently and the worlds economies are in worse shape than before the housing crisis.
Relax. Unless u r near retirement nothing to worry about. When the market tanks your funds are buying more since the prices are low. So when the market bounces back you make a killing. Under five years to go you should be in conservative funds. Worst thing you can do is pull your money out. Ride it out it will bounce back always does.
Thats why I havent put a dime in deferred. I have a piggy jar in my basement that I drop a saw buck in every paycheck. Funny part is that I will probably have more in there when I retire that some of you bozos that are maxing out in high/medium risk. Suckers!!
...and the jobs report is just one small part of the story.
I suggest that we each ask ourselves what kind of jobs are being created if any at all when that jobs report comes out.
Temporary, part-time, shovel-ready, WalMart-like, min-wage jobs are jobs... however the economy is not going back to the 1999 levels based upon some people getting jobs collecting shopping carts for six hours a day three days a week.
Case in point.
The latest Food Stamp caseload numbers are out and before you get on your favorite political party bandwagon to assign blame and point fingers you should note that the caseloads have been growing since 2000 -- so there's plenty of blame to go around.
--clip--
45.7 Million Americans Received SNAP/Food Stamps in May 2011
Record Enrollment Continues Due to Economic Conditions, Outreach and Program Improvements
In May 2011, SNAP/Food Stamps participation rose to a record 45,753,078 people, an increase of 1,105,217 individuals from April 2011, and an increase of more than 4.9 million people compared with May 2010. May 2011 participation rates in Alabama, North Carolina, and Georgia included Disaster SNAP benefits.
One in seven Americans receives SNAP/Food Stamps. This is the highest share of the U.S. population on SNAP/Food Stamps.
Also in 2010, one in five Americans struggled with “food hardship,” according to FRAC analysis of data collected through the Gallup-Healthways Well-Being Index project.
http://frac.org/reports-and-resources/snapfood-stamp-monthly-participation-data/
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So put it in perspective.
One in five Americans reporting "food hardship" is 20% of the USA population -- 60 million people!
In the States table Illinois is shown to have 1.8 million people on food stamps.
Heh..do the math how many Soldiers Field's, White Sox Park, Wriggle Field or the venue of your choice would be representative of holding 1.8 million people?
Chicago's entire population is about 2.8 mil So if the 1.8 mil. people in Il on food stamps all lived in Chicago it would be 66% or two out of every three people!
We've heard continually about 100K or 200K jobs being created over the last year or so yet look at that SNAP caseload growth for May of 1.1 million and ask what kind of jobs are being created if people in increasing numbers qualify for aid!
The system is broken.
By the way. we need at least 250K jobs per month just to keep up with the new people entering the workforce in case you were wondering.
this president is the worst ever. his policies i.e (healthcare etc) are causing people with money (job creators) to park their money. this economy is SO stagnant. but i know its all Bushe's falt. 4 more years. hope and change i get it. Ra-raa
All the politicians know nothing about safeguarding the economy. They all must go...NOW!
idiots panic, the rest of us see an opportunity. GFY I'm done teaching. That is all.
Imagine what would be happening to the economy if the Tea Party Congress hadn't taken such a bold stand against the tyrannical left's debt ceiling.
Victory in 2012!
Gotta love how obama is still belaming Bush for the economy.... he must of learned the belame game, when he was a community organizer in hyde park... tomarro he will probally belame the police for the poor job numbers
There is a movie called " inside job"
Watch it, it's a very good documentary narrated by Matt Damen.
It shows exactly how the whole money market is manipulated by just a select few.
Obama did not care. He spent the day raising campaign funds and throwing a big party.
Rome burns and Nero fiddled!
FWIW
Been retired over 4 years and enjoy it. The stock market is no longer a haven for long term money as all of those pundits over at deferred comp will tell you. It is a traders market and has been for years. If you are a good trader- trade your deferred comp-- if not--- stay in stable. All of that " we are in it for the long term" is all nonsense.
old retired guy
Mine lost $2500
TIME TO BUY BUY BUY
What pisses me off is when they say unemployment is down, but they don't count the people whose employment benefits have run out. That's bullshit.
---not a cop
And Obama is hitting the campaign trail today, promising that the 'hope and change' is working. He is the worst president this country has ever seen. Color doesn't matter--he sucks!
Please, please, register to vote. Take the 1/2 hour, or whatever it is going to take you.
I've never missed voting since I turned 18, and I'm 51.
Exercise your rights! The less value you place on them, the easier it will be for the libs to hand them out to illegals!
REGISTER! GIVE YOURSELF A DEADLINE AND GET IT DONE!!!! NO EXCUSES.
You can probably even stop somewhere while you're working--go down on a personal.
JUST DO IT!
If your not in fixed right now thdn its your own damn fault! Stupid
I lost $997 last night in defcomp.
The economic problem in this country is due to lack of jobs, taxation and poor leadership! The president blames automation for the loss of jobs (ATMS reduced tellers).However jobs were created by ATMs.people have to make them and people need to fix them. The money is put there by someone.
The truth about unemployment is the big elephant in the room, illegal immigration. they are working in the construction trades and taking jobs from Americans. Do you really think that guy cleaning your station , who can barely speak English is legal? they are also working for CASH! they are not paying taxes and are sending much money back home.
Taxation causes middle class to stop spending . No spending causes layoffs. Companies are afraid of what this administration is going to do, so they our hanging on to their money. this means job creation is put on hold.
Obama may be the worst president since carter.We need a leader that will reduce handouts, reduce the business tax and deal with a real solution to the immigration problem. Sad to say I don't see that leader in either party
Anonymous said...
The Obama administration is using the Cloward-Piven strategy to cause the economic collapse of America
****************************
Both Daley & Emanuel are using the exact same strategy in an attempt to destroy our pensions.
relax all is well ,now is the time to buy baby!
Borrowed from the pages of DSLC:
" Dow Jones voted for Obama"
Heard yesterday that the new jobs # would be important today and that 85,000 would be the LEAST expected to be acceptable. The report, released this morning, said 117,000 new jobs were created, which is a good sign. We'll see how the actual markets react by the end of the day.
Buy Ammo you will need it for the coming world wide collapse
8/05/2011 12:06:00 AM
I'm not gonna lie, I always thought these kind of comments were retarded. Not anymore. A couple thousand rounds and 20 cases of bottled water and canned goods might be a good start. These are scary times...
Thats why I havent put a dime in deferred. I have a piggy jar in my basement that I drop a saw buck in every paycheck. Funny part is that I will probably have more in there when I retire that some of you bozos that are maxing out in high/medium risk. Suckers!!
8/05/2011 12:17:00 AM
Hope you don't get burglarized...
Switched to fixed all cash earlier this year, at a high point it turns out. I have less than 2 years left so the fixed is where I will stay. I made back all I lost in 2007-2008 and then some. Now it will sit. Safely, unless a Vanecko or Daley Crime Family member figures out a way to get their grubby thieving paws on those funds.
droppin a sawbuck in after every traffic stop and you'll do better than the stock market .
Lots of people pulled outof the market after it crashed 3 years ago, they nevergot back what they lost, stay the course and out of fixed, it will come back and some.
Anonymous said...
Relax. Unless u r near retirement nothing to worry about. When the market tanks your funds are buying more since the prices are low. So when the market bounces back you make a killing. Under five years to go you should be in conservative funds. Worst thing you can do is pull your money out. Ride it out it will bounce back always does.
8/05/2011 12:15:00 AM
WRONG EINSTEIN, Keep drinking the Democrat laced Kool-Aid. You and your like-thinking Quislings will soon be penniless.
The demise of the dollar will be the most troubling issue in the very near future. Hyperinflation, a sinister form of taxation, will debut naturally as a result of government's insistence in ignoring economic law. Very few investments can withstand the scourge of hyperinflation. The person with the piggy bank in the basement is just as exposed as the stock holder.
In short, we need responsible adults to make wise and effective monetary decisions in government. It didn't happen this week. I can't see it happening in the future. Disaster is inevitable.
Thats why I havent put a dime in deferred. I have a piggy jar in my basement that I drop a saw buck in every paycheck. Funny part is that I will probably have more in there when I retire that some of you bozos that are maxing out in high/medium risk. Suckers!!
8/05/2011 12:17:00 AM
The funny thing is that during the first big dip I lost 15k. After I bought 10k when prices were low. Made 30k. Hope that piggy bank works out for you.
I just talked to a stock broker. I am , at his suggestion, putting all of my deferred comp money into Chicago Blend. I will then transfer all of it to a new broker without paying any tax now. Tired of the dead heads at Nation Wide and the Chicago bullshit artist.
Not to sure where it is written that the market has to come back Things are not like they used to be and all funds will say past performance is no indication of future performance An example, the NASDAQ was 5048 on March 10, 2000 Today over 10 years later it is 2532 HALF, 1/2 of what it was over 10 years ago So if your deferred was invested in the NASDAQ 10 years ago, you would only have half, doesnt sound like it will gome back to me Just sayin
With stock market losses, real estate devaluation, increased taxes and gas prices, this is not good, not good at all. I hope everyone who voted for this inexperienced idiot are happy with how it is turning out.
If anybody out there thinks that this is nothing but a cyclical market move, you are softer that puppy poop on a sidewalk in August (or,for that matter, NOW). Don't try to equate what is going on now versus what happened in the last Depression or any other Recession in the past 50 years. The events WORLDWIDE have never happen in tandum as they are now. This is not a cycle...this is unique. and its possibly the worst thing, in my opinion, that has happened to the modern world since the Black Death. Prove me wrong...I'm open for correction if you can. And no, I'm NOT blaming everything on Barry Soiterio. I honestly think that its far, far bigger than even "The One".
You and your like-thinking Quislings will soon be penniless.
++++++++++++++++++++++++++++++++
"Quislings"
Nice turn of phrase there brother!
If you've got another 5-7 years before retiring I firmly believe the economy will turn itself around and everything will be fine.
If you're retiring in the near future you have a right to be very concerned about this mess.
All this doom and gloom and Rahm and certain politicians still are trying to cut our pensions.
I lost $997 last night in defcomp.
8/05/2011 08:03:00 AM
No, you didn't. Not unless you cashed out last night, anyway.
The market fluctuated over 400 points today. Did you 'make' a bundle today, too? Nope; not unless you cashed out at the high end today.
Buckle in. Once the dust settles, it'll be where it was before. Might take a minute, though, thanks to the downgrade in the U.S. credit rating tonight.
buy gold and silver QE 3 is comming watch how much it will go up we will be down graded watch....
This will spread North. If you want to read a very serious CT/USAF analyst - John Robb,
http://globalguerrillas.typepad.com/
The Model BTW is Iraq. Been there, done that.
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