13th March 2009, 07:52 pm by JG
Put some money in stocks, in like two weeks. Right now everything has been up for a few days, it’ll swoop back down before it really goes up so get in then. Big companies – I have money in GE, WFC and BAC. Go for them if you want, there’s lots of really low priced shit out there. Everyone has been scared shitless and sold the house, making the prices get lower – when the big money gets back in, this shit will go up 25%+ at least from where they’ve been, and probably a lot more.
If you get your money into these big companies that are basically tied to the economy, you are basically betting on the fact that within a few years, we’ll be out of a recession. Companies that are ‘too big to fail’ or close to it will not be allowed to fail by the government, so when the economy recovers they will be back to where they were and you’ll make money. I’d recommend putting it into a Roth IRA and save long-term for retirement, but do what you want.
Why this bet works is that since these companies are ‘too big to fail,’ if they actually did fail, the country is fucked plain and simple. If that’s the case, the dollar is worthless so who cares about any money you lost – it ain’t worth shit at that point anyway. Don’t be dumb, you’ll kick yourself in the ass everyday 5 – 10 years from now if this doesn’t happen.
10th February 2009, 07:56 pm by JG
Stock Market: “So, Mr. Geithner. What exactly is your plan, why does it make sense and how will you execute it?”
: “Blah blah blah uhhhh we have to do something. Definitely. ”
Stock Market: “I see.”
“Shiiiiiiiiiiiiiiiiiit.”
21st January 2009, 07:55 pm by JG
Quick shout-out to President Barack Obama, hope you are enjoying the your new home and everything else that comes along with being the President so far. I have a lot of faith in the guy and I think he is fully capable of doing a great job and leading our economy out of this recession. I do think people are going a little overboard though in terms of expectations, its tough out there. I’ve seen an absolute ton of bullshit over the last couple of days about how awesome Obama is and how pretty much now everything is cool but ignorance is bliss I guess, oh well.
So considering the unemployment rate is going up, the Dow Jones is headed towards the 6,300-6,600 range for a little while in April or so* and the housing problem isn’t going anywhere he’s going to have to do a little more than have a saxophone duet with Bill C. to make America happy. I think when it is said and done President Obama, Congress, and State governments will sort things out and put our country back on the path of growth, it’s just going to take a minute. So in the meantime, I’m buying an umbrella and waiting for that change.
*Not based on anything in particular, but no one is paying any attention to the fundamentals so who cares. It’ll be back by ‘10 don’t worry.
22nd December 2008, 09:33 pm by JG
No matter where you turn right now, all you will hear is recession this recession that. For the most part, being in a recession is relatively easy to define. Jobs are scarcer; many people are forced to stay in, or accept jobs that are below their skill and/or education level, and many people cannot find work at all. For the general public, the percentage of (eligible) workers unemployed is one of the most common statistics to be quoted in bad times, one of the easiest to understand and the one statistic that will truly ‘hit home’ so to speak. I’m going to try to break down what exactly is going on in pretty broad terms so that you can know more than most people without having to learn all the finance bullshit I know.
