TimTaylor751647545500 Posted January 22, 2008 Report Share Posted January 22, 2008 And your car. http://money.cnn.com/2008/01/22/news/economy/fed_rates/?postversion=2008012209 Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 While you're at the bank, sell the shit out of your stocks!!! And FWIW, the interest rate can and likely will go lower. Today is not the day to buy a mortgage. Quote Link to comment Share on other sites More sharing options...
Guest 614Streets Posted January 22, 2008 Report Share Posted January 22, 2008 "And the Fed is still widely expected to cut rates again at its Jan. 30 meeting." Do not refinace today! Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted January 22, 2008 Report Share Posted January 22, 2008 Just got a quote today for 4.5 fixed on a refinance on our mortgage.. think it will drop that much lower? Quote Link to comment Share on other sites More sharing options...
Casper Posted January 22, 2008 Report Share Posted January 22, 2008 Do not finance or refinance today. Wait until February. DO NOT SELL THE SHIT OUT OF YOUR STOCKS!!!!! You'd be a fucking moron to do so. Right now would be the time to buy up stocks and hold on to them. Quote Link to comment Share on other sites More sharing options...
Adam Posted January 22, 2008 Report Share Posted January 22, 2008 Do not finance or refinance today. Wait until February. DO NOT SELL THE SHIT OUT OF YOUR STOCKS!!!!! You'd be a fucking moron to do so. Right now would be the time to buy up stocks and hold on to them. god i hate it when he is right Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 Do not finance or refinance today. Wait until February. DO NOT SELL THE SHIT OUT OF YOUR STOCKS!!!!! You'd be a fucking moron to do so. Right now would be the time to buy up stocks and hold on to them. LOL yes buy buy buy right before a recession. Buy High, Sell Low, that's what I always say! Quote Link to comment Share on other sites More sharing options...
Supplicium Posted January 22, 2008 Report Share Posted January 22, 2008 LOL yes buy buy buy right before a recession. Buy High, Sell Low, that's what I always say! Dont be a donk. You always buy when its low. Stocks are for the long haul. All these people selling makes it worse. Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 Dont be a donk. You always buy when its low. Stocks are for the long haul. All these people selling makes it worse. No doubt that panic selling makes it worse, but thinking that now is the time to buy is completely daft. If you're selfish (admit it, you are) you will move all of your stock investments to gold or industrial blue chips until the market settles down. If you have a heart, keep your stocks and ride out the rough seas. If you're looking to vaporize money you can either a) move money into stocks or b) slip the cash in an envelope under my door. I promise I won't tell anyone. Quote Link to comment Share on other sites More sharing options...
Mallard Posted January 22, 2008 Report Share Posted January 22, 2008 No doubt that panic selling makes it worse, but thinking that now is the time to buy is completely daft. If you're selfish (admit it, you are) you will move all of your stock investments to gold or industrial blue chips until the market settles down. If you have a heart, keep your stocks and ride out the rough seas. If you're looking to vaporize money you can either a) move money into stocks or b) slip the cash in an envelope under my door. I promise I won't tell anyone. Why buy gold when the price is already inflated?? Mortgage rates loosely follow 1.7% above the 10 year treasury note, not the Fed interest rate. Keep you eye on that to know when it's time to lock in a good rate. It's pretty damn low right now, so if you can lock in 4.5% on a 30 year fixed I would do it, especially if you're up around 6 or 7+% right now. Quote Link to comment Share on other sites More sharing options...
Mensan Posted January 22, 2008 Report Share Posted January 22, 2008 Jeff, most of the time I agree with you. this is one of those times when I do not, and I am one of the smartest people I know. Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted January 22, 2008 Report Share Posted January 22, 2008 so if you can lock in 4.5% on a 30 year fixed I would do it, especially if you're up around 6 or 7+% right now. 4.5% on a 15 year fixed. I do believe it will be around a 1.35% difference. Quote Link to comment Share on other sites More sharing options...
Casper Posted January 22, 2008 Report Share Posted January 22, 2008 LOL yes buy buy buy right before a recession. Buy High, Sell Low, that's what I always say! No doubt that panic selling makes it worse, but thinking that now is the time to buy is completely daft. If you're selfish (admit it, you are) you will move all of your stock investments to gold or industrial blue chips until the market settles down. If you have a heart, keep your stocks and ride out the rough seas. If you're looking to vaporize money you can either a) move money into stocks or b) slip the cash in an envelope under my door. I promise I won't tell anyone. Wow. I don't know you, but you're a fucking moron. Gold? Seriously? You must really live by the "buy high sell low" like you said. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted January 22, 2008 Report Share Posted January 22, 2008 Yeah I do not believe in gold, sure its tangible and all that bs. If you cant ride out rough times then you shouldnt be investing in the stock market. All these day/short term traders selling now is because it does look bad now, they would rather pull out now and invest elsewhere or just sit on the cash in the bank. If you arnt planning on selling in 30 years like me, it is a great time to buy now. It is blatantly obvious on what to do just by looking at how the market opened up today. Short/term investors sold low, market went down 465, then smart money bought up all the bargain shares and got it back up. Those are the people that will be up in the future regardless of the current state. Biggest bargain I see is SLB at around 74$ thats a steal. Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 For anyone who thinks gold is overvalued, welcome to the 'new economy'. Gold will not go down until the dollar gets stronger. Guess what *doesn't* happen when interest rates are dirt low? Anyone of you who would like to actually explain your economic theories are welcome to. I will refrain from insults, as there is such a thing as integrity where I come from. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted January 22, 2008 Report Share Posted January 22, 2008 For anyone who thinks gold is overvalued, welcome to the 'new economy'. Gold will not go down until the dollar gets stronger. Guess what *doesn't* happen when interest rates are dirt low? Anyone of you who would like to actually explain your economic theories are welcome to. I will refrain from insults, as there is such a thing as integrity where I come from. For the basics of logic: http://www.cnn.com/2008/LIVING/personal/01/22/willis.what2do/index.html Quote Link to comment Share on other sites More sharing options...
Casper Posted January 22, 2008 Report Share Posted January 22, 2008 For anyone who thinks gold is overvalued, welcome to the 'new economy'. Gold will not go down until the dollar gets stronger. Guess what *doesn't* happen when interest rates are dirt low? Anyone of you who would like to actually explain your economic theories are welcome to. I will refrain from insults, as there is such a thing as integrity where I come from. Integrity doesn't keep me from calling you an idiot. Buying gold now is like by tech stocks just before the dot bomb. This was just posted on CNN: http://www.cnn.com/2008/LIVING/personal/01/22/willis.what2do/index.html And let me add... DO NOT INVEST IN BANKS!!!!!! If you have more than $100K in a bank, MOVE THE MONEY AROUND. The FDIC only insures up to $100k. Anything you have over that is not insured and CAN BE LOST if this recession turns into a depression. The problem with the feds cutting the rates 75 pts now and another 50 pts at the end of the month is long term. Cutting rates encourages spending. Americans SHOULD NOT BE SPENDING!!!!! Now is the time for saving. Buying a house is an iffy investment right now. In theory, buying a house is always a good investment. However, make sure its something you want to live in for a while. Projections right now are saying it could be 7 - 10 years before the housing market returns to normal. Quote Link to comment Share on other sites More sharing options...
Casper Posted January 22, 2008 Report Share Posted January 22, 2008 For the basics of logic: http://www.cnn.com/2008/LIVING/personal/01/22/willis.what2do/index.html Bastard..... You beat me to it. Quote Link to comment Share on other sites More sharing options...
Casper Posted January 22, 2008 Report Share Posted January 22, 2008 Biggest bargain I see is SLB at around 74$ thats a steal. I'm thinking FoMoCo. Its floating around $5.80 today. Ford is going to go out of business. They'll make a comeback. Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 Integrity doesn't keep me from calling you an idiot. Buying gold now is like by tech stocks just before the dot bomb. This was just posted on CNN: http://www.cnn.com/2008/LIVING/personal/01/22/willis.what2do/index.html Wow a fluff feel-good piece from the likes of CNN, who would have thought. Go ahead and look at the winners and losers today. Winners? Gold. Foreign currency. Losers? DJIA. NCI. Please explain how it is that you're right. P.s. Integrity only works if you have some. Quote Link to comment Share on other sites More sharing options...
Mallard Posted January 22, 2008 Report Share Posted January 22, 2008 For anyone who thinks gold is overvalued, welcome to the 'new economy'. Gold will not go down until the dollar gets stronger. Guess what *doesn't* happen when interest rates are dirt low? Anyone of you who would like to actually explain your economic theories are welcome to. I will refrain from insults, as there is such a thing as integrity where I come from. http://finance.yahoo.com/q/bc?s=USDEUR=X&t=1y The USD has been rebounding against the Euro, even though rates were cut at the end of last year. Satan - Spending is what people SHOULD be doing in order to stimulate the economy. But people should only be buying what they can afford, or else we stay in this giant credit mess. Quote Link to comment Share on other sites More sharing options...
jeffmeden Posted January 22, 2008 Report Share Posted January 22, 2008 http://finance.yahoo.com/q/bc?s=USDEUR=X&t=1y The USD has been rebounding against the Euro, even though rates were cut at the end of last year. Satan - Spending is what people SHOULD be doing in order to stimulate the economy. But people should only be buying what they can afford, or else we stay in this giant credit mess. That 'rebound' against the euro in the middle of december that lasted a whole month, was actually at a point where interest rates were stable (the fed cut on oct 1, nov 1, jan 1). Since then, not as much 'rebound', plenty of 'freefall'. Certainly we can all agree that spending on US goods and services is a good thing, spending on imported goods a bad thing. This is true during any economic climate. However, if you're going to save money, you need to do it smart. Quote Link to comment Share on other sites More sharing options...
Mensan Posted January 22, 2008 Report Share Posted January 22, 2008 I'm thinking FoMoCo. Its floating around $5.80 today. Ford is going to go out of business. They'll make a comeback. I thought that too until I talked to my broker. He recommended STRONGLY against it. Quote Link to comment Share on other sites More sharing options...
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