Wednesday, October 15, 2008

Some bad news coming today

Several pieces of data will be coming out today which will send jitters in the stock market. The dow will probably go down.

I have heard people saying that we are going to have a bad winter. If this is true, oil will go up. Opec and Associates are looking for any reason to increase oil prices.

Tuesday, October 14, 2008

Roller coasters do crash.. the Dow

So, the stocks took on over 900 points recently lost. Today, as I figured, stocks rallied a bit. I predict today the dow will close about 100 points down. Tomorrow (Wed) we will lose another 200 points. Thursday, the dow might close up 100 points but Friday, look out, they should close about 400 points down.

Sell what ever stocks you have. Stop contributing to anything, 401K's etc. Wait about 5 months.

Take a breather, pay off your credit card bills, all other debts.

Start buying less of what you really need, groceries etc.

Hold on to clothing longer, go to tag sales for clothes, tools etc. Take a train, bus or taxi when you need to get somewhere.

Wednesday, October 8, 2008

Feds cut rates to 1.5% SO WHAT !

Is cutting the interest rate going to bail us out of this financial crisis? No.

It looks good, I sit here and watch the S&P and NASDAQ going up about $1 every 30 seconds. This is just the market rallying.

Look at Asia, stocks plummeted.

2 TRILLION Dollars of pension fund investments lost. wow.

It's 9:53 and the dow is up 162 points, whoopie, we're saved, NOT.

We are in for long, hard times. We are truly becoming equal with the rest of the world.

I feel the dow will close down 100 points today. I think people are just rushing in to buy cheap stocks but at the same time, as the price of other shareholders stocks go up, they will sell creating this roller coaster effect.

Let's see what happens today.

Monday, October 6, 2008

The dow is "down" ! (as i predicted)

Wow, I hit this one on the head. In my posts in July and August I mention the down dipping below 11,000.

What's happening now is our "global partners" are also having to take a deep breath and wonder, "now what the hell do we do?"

Ha ha. Wow. This is going to get worse. 159,000 people lost their jobs in September. I also predicted this in my past blogs. Don't forget, I also mentioned in July that a report would come out about people falling behind on their credit card payments.

This will be another blow to the banks.

My solution, here is an idea:

1) Have the government buy 1 point off every one's loan for those people who purchased property between 2002 and 2007. Not on loans above $500 because these people should not have purchased a home for that much in the first place.

Here's an example. I'll use my loan. presently, my loan payment (30 year @ 5.25% LOCKED ) is $2167.05. If the Government lowers my interest rate by 1 point, making it 4.25% our mortgage payment, with taxes etc. would be lowered to $1974.21. That is a difference of $193.20 a month or $2316.00 per year.

Also, home owners should be givena tax credit of 2% of their current loan balance. If your loan balance is $420,000, you would get a tax credit of $8,400.00.

My wife and I are spending about $3,000 more for heating oil and gasoline just to get to and from work.

That's $3,000 right out of our pockets and the pockets of a million or more people.

This is exactly why people are losing their jobs. People have no money to put back into the economy. You want gas money to get to work or do you ant to go to the movies or out to dinner?. that's what it's come down to.

So, if the Government Really wants to help it's citizens, it needs to help the citizens, not the greedy banks who will receive money to give loans to people who have to have excellent credit. Due to this financial mess, most persons credit has been ruined, so we will have all this "loan" money which no one can touch except for, that's right, the wealthy.

get money back into the pockets of the MIDDLECLASS consumers!