Yes, today I moved a respectful sum out of the S&P. Obama/Congress doubled down on wasteful spending and tax increases. I doubled out. Once the the market bottoms out and our government has come to its senses (because we kicked their lovely tushies out of office) I'll move my money back in to the market. Until then I'm closing up shop....no spending, no nothing except for the basics. I'm in a good position to outlast these parasites.
Do you hear me now President Obama?
Sanchmo, very informative graphs. Thanks a bunch.
I'm not a very good trader, not extremely successful at anticipating & timing short-term movements. I tend to invest in long-term trends. I was completely out by early October at about Dow 10k, with the same expectation that the crisis would take a while to work itself out and by 2010 I would be in again somewhere near the bottom.
But since about December my outlook has become much more pessimistic - we have too many imbalances between what the global financial system can survive, what the global economic system can profitably support, and what political systems will tolerate, and I think we have just started to see the acceleration of the unavoidable unravelling. And while this resembles the contained crises of the 80s and 90s (due to our internally focused media), its global scope is starting to more closely resemble 1900 and 1930. Certainly, we haven't seen this type of situation in our lifetimes.
Just to be clear, this is not Armageddon, we can make it through it (some individuals and some companies better than others), and this country has gone through a lot worse than this in the past 200+ years. I never make decisions that limit my freedom of action in case I am wrong or in case conditions change, esp in this case. But I believe that anyone who isn't already preparing for a decade full of changes that just 1-2 years ago were unthinkable... that person is gambling against the odds.
Good for you. Me too!