Fire your financial planner and stop listening to Paulson!!
Treasury Secretary Paulson April 20, 2007 — I dont see (subprime mortgage market troubles) imposing a serious problem. I think its going to be largely contained. July 26, 2007 — I don’t think it [the subprime mess] poses any threat to the overall economy. November 29, 2007 — While the difficulties in housing and credit Markets and the effects of high energy prices will extract a penalty from growth, the US economy has many strengths, and I expect the expansion to continue, December 7, 2007 …
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25 Responses to “Fire your financial planner and stop listening to Paulson!!”
Invest in non …
Comment made on March 8th, 2009 at 6:16 amInvest in non material things. Food, Fuel, gold, autos, factory production goods, solar panels,wind generators, Seed compainies, Farms anything sustainable is the enemy. Invest in housing, futures, hedge funds, Mortgage compaines, banks, things that can be maniplulated. The money being printed up by the trillions is not going to material goods its going to speculators they know how to manipulate the system and have shown how great at investment they are. Believe in CNN and their experts.
jim cramer is so …
Comment made on March 8th, 2009 at 6:16 amjim cramer is so ridiculous
My “broker” was the …
Comment made on March 8th, 2009 at 6:16 amMy “broker” was the laziest guy on the planet. Never called me about ANYTHING and my account just slowly went to zero. I’ll never get in the market again. It takes too much daily diligence just to make a few bucks and its not worth the hassle. Save and live frugally and buy “real” things like gold coins.
While I agree with …
Comment made on March 8th, 2009 at 6:16 amWhile I agree with most of this, there are some important exceptions financial planners/advisors. “Fee Only” Registered Investment Advisory firms - especially those with CFP/CFA designees - are worth looking at. Ask them about their investment philosophy, track record, etc. There are good advisors to be sure, but it takes a considerable amount of due dilligence on the part of the client/investor to identify them. A truly “contrarian” advisor will echo much of what you are hearing here.
You gotta love …
Comment made on March 8th, 2009 at 6:16 amYou gotta love when they tell you to try to work with the banks on mortgages and credit cards and car loans. JUST REMEMBER THIS PEOPLE, THE BANK HOLDS THE PAPER AND NOT YOU! yeah if you let it go it will hurt your credit but whos credit wont be screwed in a melt down? until the government drops rates way down to 2-3 % we will never get outta this!
Try to live with a …
Comment made on March 8th, 2009 at 6:16 amTry to live with a small group of like minded people-for security reasons. Don’t isolte yourself too much. You don’ want to end up facing a gang alone with your family…
I have to say this, …
Comment made on March 8th, 2009 at 6:16 amI have to say this, you are the smartest one in this bunch…I’m also looking to get out of a subdivision and onto a rural piece of property for more privacy. Don’t forget a wood stove and a bow saw to cut your wood! Buy heirloom seeds that will come true each time you plant them.
A stock is only …
Comment made on March 8th, 2009 at 6:16 amA stock is only worth what the last person paid for that stock. Think about it, it is not based on the real value of that company. So until other want it and are willing to pay good money for it. It will remain as it is…
Stay away from Mutuals.
Okay I can ure …
Comment made on March 8th, 2009 at 6:16 amOkay I can ure you this guy is telling you the truth. A financial advisor is not a stock broker nor are they degreed in financial studies of any kind. For the most part they are typically not even educated in anything financial, banking or other wise. You could throw a dart and do just as good as they can. But you pay them to throw it for you. Crazy!
Great witt too bad …
Comment made on March 8th, 2009 at 6:16 amGreat witt too bad only half
SJLS Please …
Comment made on March 8th, 2009 at 6:16 amSJLS Please explain why Primerica is a scam. Give details. Thank you.
Explain please. …
Comment made on March 8th, 2009 at 6:16 amExplain please. Give an experience or example. Thank you.
A college education …
Comment made on March 8th, 2009 at 6:16 amA college education…for what?…to steal what?…money?…to become a sophisticated thug? Maybe you need to be born with some exclusive communication skills, that’s all you need really! Oh! and a good 3-piece suit of course! That’ll work wonders!
Primerica is a scam …
Comment made on March 8th, 2009 at 6:16 amPrimerica is a scam MLM
No plug off-yet. …
Comment made on March 8th, 2009 at 6:16 amNo plug off-yet. If the US falls alone or much more than the rest of the world, “plug off” makes sense. If we are all relative to eachother and all based on nothing but fiat currency–maybe nothing happens, just the zeros get changed. Meanwhile, enjoy this Youtube video youtube. com/watch?v=NIfH0vY2ANA
Well, looking …
Comment made on March 8th, 2009 at 6:16 amWell, looking deeper as I can. Cant see more than I see, my father…
Look deeper, my son …
Comment made on March 8th, 2009 at 6:16 amLook deeper, my son. Seek true understanding.
“The gold back …
Comment made on March 8th, 2009 at 6:16 am“The gold back currencies kept credit inflation somewhat in check.
That isnt the case with the fiat currencies.”
Well, well, Spain did show us the opposite, did not they?
The big difference with gold is that as soon as the last ounce is undigged from the earth, either only a selected few will be able to live on the earth or something will have to happen…
“Cut defense budget …
Comment made on March 8th, 2009 at 6:16 am“Cut defense budget 50% (pull all troops home)”
Seriously, how much have the US invested in global military domination? You want to erase this comparative advantage right now for free?
The main reason that the US, this wealth sink, is keeping doing okay is because of this global military domination.
As to work, there is going to be two main types of work left in the US: capital ownership and servitude. Other workers have to move in places around the world where their work is.
to negociate to …
Comment made on March 8th, 2009 at 6:16 amto negociate to join Euroland. No plug off.
Now yep, if Marxist Chavez is taking his marbles out of the game, it is going to make a huge, a huge difference, his marbles account for well, I dont know 0.01 per cent of the total…
Still no pulling …
Comment made on March 8th, 2009 at 6:16 amStill no pulling the plug off.
We have the middle east on the verge of bankrupcy with their monoactivity “oil” not decreasing in volumes but in value (huh, this one is pretty harsh when you come to think of the nature of the oil commodity) No plug off.
We have Japan (the main creditor to the US) seriously considering writting off the US debt in order to restart the machine (Japan is a net food importer, it might explain this) No plug off.
We have GB (another big creditor to the US) starting
Sounds like the ” …
Comment made on March 8th, 2009 at 6:16 amSounds like the “plug off” argument: as soon as countries realizes how bad the situation is for the USD, they will plug off.
So what do we have currently?
We have Russia on the border of chaos, already no longer paying pensions and stuff. Russia doesnt seem to love the US but still not pulling the plug off.
We have China which is going to endure the smearing of the western world when they have to quash inner unrest “look the way the Chinese behave when we dont pay them what we owe them”
Cut defense budget …
Cut defense budget 50% (pull all troops home); remove all personal and small bus income tax; These two actions alone revive the economy and give people real incentive to work again.
(Take a breath) Forgive all HELOC in U.S. (They’re toast anyway. Peter Schiff’s idea.)
(Put on your thinking caps) Retool U.S. light industry for zero point energy (home generators $4000, run free. Troy Reid’s 3x auto engine, Joseph Newman’s power generators.)
THINK.
Comment made on March 8th, 2009 at 6:16 am- ron and jim
You’re right and …
Comment made on March 8th, 2009 at 6:16 amYou’re right and all thing have been nominaly priced with this funny money in the system as derivatives deflate so will prices.
Yeah, it just seems …
Comment made on March 8th, 2009 at 6:16 amYeah, it just seems like since they will have to borrow it from the private sector it will hurt businesses that would have otherwise gotten that money to invest in themselves. So it just seems like it would be a quick burst of spending or they will resort to printing it which would be taxed through inflation.
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