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"CaptainRich agrees: As long as the govt doesn't take away my right to bear arms and I can make a fair wage."
Hey! Last time I checked, in December 2006, there were still some track homes for sale in my Davao City community (SE Asia)... just in case. :)
Bobby
Davao City sounds a long way from my granddaughter.Quote:
Originally Posted by BABRAM
I've lived in SE Asia, a long time ago and in a wholly previous lifetime. I live on a hurricane speed bump (Florida) so I'm going to do my final stand from here.
The Sunshine state has the right amount of growth to keep things stimulated, and I'm ten minutes away from scuba diving. Last summer I found a doubloon while doing a beach dive off Vero Beach. Maybe I'll work my retirement there... :p
I know what you mean about having the relatives around the globe. I have an international family and it's sometimes to difficult to see everyone besides expensive. At my work, I have a lot of clientele that are from Florida. I think Daytona Beach is one the most scenic cleaner beach fronts I've seen in the States.Quote:
Originally Posted by CaptainRich
Bobby
True, Daytona Beach is gorgeous. Vero is south of that. I think the beaches are kept clean because the people care. The water is kept clean by the Gulf Stream. Almost always lots fish around. The treasure hunting/diving is very taunting... I've dove that same beach several times, after storms, and never found any coins since.
On the topic of the "three steep declines", there are a couple of points that we should keep in mind.
Despite the "steep declines" we have seen, the market closed on Friday only about 15 points lower than in the previous month. All of these "declines" have been recovered.
Despite the three declines, the market is still up 18% over last year.
Despite the problems in the sub-prime real estate lending market, the vast majority of Americans still manage to pay their bills on a monthly basis.
Even the failure of the entire sub-prime market (which will not occur) will only effect the finance companies and their owners, not the average American.
Even those with mortgages at those companies that fail won't be adversely affected, as long as they keep making their payments.
Almost every single investment strategist and money manager out there is recommending that people do NOTHING. Don't invest in finance companies, don't DIVEST of finance companies. We are seeing market volatility, not a market crash. Don't panick, stay in for the long haul, and if the daily jumps in the market are making you crazy then stop watching the market and ignore it. The economy is NOT collapsing. The markets are not failing. The real estate industry is not failing. Just ride out the waves, and you'll be fine.
The volatility in the market is being caused by undue panic in the marketplace caused by negative perceptions. These negative perceptions are being caused by the media screaming at the tops of their lungs about the dangers in the marketplace, and how they have all been caused by Bush. The panic is unnecessary and no such dangers exist. Ride out the panic like a professional investor, not an amateur speculator, and you'll do fine.
Elliot
Good sound advice. The market opened slightly up this morning . There was a big change after the Fed. Slightly reduced the discount rate . There will be more when the Fed realizes that the previous Fed regime got over-zealous chasing phantom inflation .
It could very well be that we are at the tail end of a very long bull market. But that doesn't mean there need be a hard fall. This sub-prime issue affects so few . I am not that concerned by hedge fund health .Nor do I think the real estate market will repeat the late 1980s slump . I just hope that those stuck in bad ARMs get a chance to refinance.
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