Posted on 08/24/2015 4:00:11 AM PDT by EBH
“With that in mind, why would anyone decide not to invest for the long term?”
Because $18T in debt and trillions more in unfunded entitlements is not sustainable.
I’ve invested plenty, made plenty, and have gone Galt at 53. I won’t be supporting the fascist beast any longer and will live off of investments taken out very carefully to avoid paying taxes. And if/when the collapse happens, whether it’s hyperinflation followed by a depression or vice versa, I won’t be affected because I’m living the simple life I want, regardless of what happens elsewhere.
If you think an increasingly fascist country with a debt like Greece without anyone to bail her out has a positive economic outlook, go for it.
But as they say with all investments, past performance is no indication of future returns.
Jim Cramer was on DNCmsNBC tonight reflecting on the late 1990’s.
As if now is any comparison to then. Oh he’ll admits it will go lower but was talking like it will rebound.
Maybe he’s hoping for QE4 and then some.
If you’re truly going to “Go Galt” then you probably don’t need money anyway. But that doesn’t sound like what you’re doing. How do you plan to “live off of investments” if you have no faith in the underlying financial system? What are these investments?
My financial resources and how I am living a simple life closer to nature and God are none of your business. “Going Galt” does not mean living off the land, BTW. Reread Atlas, if you have lots of free time. Your ignorance is showing.
Especially since you are attacking me for no reason and trying to make me defend a false straw man argument. I won’t waste my time.
If you are shaken by stock market losses, you still don’t need to be obnoxious to those that got out 2 weeks ago.
A good catfish always knows where the bottom is.
Some good news for some of is old folk today, Long bonds rates are up 4.25%. as I speak. Would love to finally see some traction on interest rates.
Great comment!
People are talking worldwide recession.
While others bury their heads in the sand and whistle Dixie. Go figure.
Well at this moment 75.51, and a 2.92 annual dive gives you an effective ROI of 10.6% in a week. YOU RE DA MAN!!!!!!!!!
As you may remember, I had nine equities that I had the trigger finger on. One came within 3%, another 8%, the other 7 didn't get within 10%. Sigh, sometimes the greedy lose. In any case good job, in retrospect, I wish I had added to my XOM position at that price.
That 68.26 price will be averaged against an order @ 75.43 that I had filled on Friday. Average is about 72 or so. I’m satisfied. I’ve never been able to squeeze out the last few points, up or down. If I were that good, I would be at my lodge up in the Canadian Rockies, or lounging about on my 350’ yacht off the Riviera, and not worried about what the riffraff is doing.
It was interesting to read your “manifesto” about saving, investing, spending, etc, and how they parallel most all the same things I do.
It never ceases to amaze me that otherwise intelligent people never understand that those timeless strategies work every time they’re tried.
You can’t imagine how many times I’ve been accused of being “lucky,” or that I’m a “Scrooge,” etc.
A difference of opinion with most everyone else, I guess. But that’s what makes a market.
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