The coming financial crisis

[Diomedes]

Where is Joel when you need him.  That moneylover should be all over this thread by now...

[Wingspan]

Any long term investor would have taken the opportunity yesterday to put a little extra money in their investment accounts.

[PoopyfaceMcGee]

Hold on... let me go check the couch and my daughter's piggy bank for spare change.

Seriously, how many people have a big stack of cash just waiting to invest long-term?

[Wingspan]

Hold on... let me go check the couch and my daughter's piggy bank for spare change.

Seriously, how many people have a big stack of cash just waiting to invest long-term?

You don't have an extra $200-$300 you could have put into your daughters college fund while the market is low?

[Diomedes]

My extra 300 dollars just went to Marvin's Mufflers (great shop) for a new cat because the old one shat the bed last week.

So no, people don't have extra money, unless you wanna share some of yours Mr. Richie Smartpants.

[Wingspan]

Unless you've lost your job in the past 6 months...you're income is likely the same, if not better that it was a year ago.

When the economy turns sour, it's wise to cut down on the expendable spending, and save it or invest it with some rate of return.

People don't have extra money now because they were fiscally retarded a year ago...with a house thats too expensive...or 2 car payments...or $200 a month on phone/cable/internet/cell phone combinations...going out to eat 3 or 4 times a week.... Whatever, if they had just lived within their means a year ago..they would be in a comfortable spot now, with a little extra to invest for the long term.

I am not rich by any means. But I am smart when it comes to my wife and I's finances. I hold no shame in that.

[Geowhizzer]

What extravagant spending did I do in the last year?  Oh yeah, the daughter...

[Rome]

Unless you've lost your job in the past 6 months...you're income is likely the same, if not better that it was a year ago.

When the economy turns sour, it's wise to cut down on the expendable spending, and save it or invest it with some rate of return.

People don't have extra money now because they were fiscally retarded a year ago...with a house thats too expensive...or 2 car payments...or $200 a month on phone/cable/internet/cell phone combinations...going out to eat 3 or 4 times a week.... Whatever, if they had just lived within their means a year ago..they would be in a comfortable spot now, with a little extra to invest for the long term.

I am not rich by any means. But I am smart when it comes to my wife and I's finances. I hold no shame in that.

Some people have been devastated by this economy, me included.  I've always been fairly conservative with my dough but even so it's been a really tough year for me and my family.

Making comments like "people were fiscally retarded" indicates to me that you have no clue about what's going on in certain sectors of this country.  That's not surprising, though, because you routinely have no clue about much else either.

Clown.

[Diomedes]

I don't have extra money now because I don't make extra money beyond what I need to live and save a modest amount.  Has nothing to do with being fiscally irresponsible last year.  shtein, I haven't been fiscally retarded since I was like 25.  My only debt is a college loan, has been that way for years.  My wife's only debt is a couple college loans.

Wingnut, you don't know shtein about what people face.  You are in good shape, so you assume anyone who isn't is dumb...that's some lousy reasoning.  About par for the course from you.

[rjs246]

I agree with Wingspan in that you are all idiots.

[PoopyfaceMcGee]

Hold on... let me go check the couch and my daughter's piggy bank for spare change.

Seriously, how many people have a big stack of cash just waiting to invest long-term?

You don't have an extra $200-$300 you could have put into your daughters college fund while the market is low?

Right, because catching the market on a down day by dropping in an extra three bills is the secret to getting rich.

Now, if you dropped $200/month every month no matter what?  Yeah, that could do you quite nicely.

[shorebird]

300 bills laid down today won't be squat in 15-20 years. It would take tens of thousands. In twenty years, it will take 2-3 mil to retire comfortably without living extravagantly, even with the aid of s.s., which might not even be there.

[Wingspan]

300 bills laid down today won't be squat in 15-20 years. It would take tens of thousands. In twenty years, it will take 2-3 mil to retire comfortably without living extravagantly, even with the aid of s.s., which might not even be there.

You're right...and since I have no way to get stinking rich in about 6 months...we should save nothing and blow it all on hookers.

[shorebird]

Nope, just find a happy medium. I refuse to let go of the NFL Sunday ticket.

[rjs246]

Wing is right. Hookers are an investment in your future.