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Socialist America, Part 2 ... The Joker's wild!

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July 29, 2008 – Comments (8) | RELATED TICKERS: SRS , SKF

This has to be one of the most brilliant articles to come out of Market Watch:

PAUL B. FARRELL Socialist America, Part 2 ...

The Joker's wild! Solution: Cure Wall Street's hangover with this 12-step intervention

By Paul B. Farrell, MarketWatch 

To all young people read and heed: 

"Step 8. Warning, Wall Street's been losing your money since 2000 Seriously, if you put $10,000 in the market in March, 2000 when the Dow peaked at 11,722, you've lost half your nest egg, adjusted for inflation. Wall Street's greed and drunken binge has distorted basic conservative principles, costing America hundreds of billions the past eight years. Solution: Forget the stock market. Read "The Millionaire Next Door." Build your own business. Buy real estate. Anything to avoid Wall Street."

The US is moving toward socialism, many "baby boomers" are trying to go on the "dole of the US government". Having lived in a socialist country for several years, the way to get ahead is to start your own business or work for cash or leave.  Forget gambling in the stock market capitial gains will take this market down even further. 

 

8 Comments – Post Your Own

#1) On July 29, 2008 at 12:50 PM, abitare (33.77) wrote:

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#2) On July 29, 2008 at 1:13 PM, Richthofen80 (88.69) wrote:

Buy Real Estate

I fell out of my chair when I saw that sentence. Real Estate? Hah. With what are we going to buy this Real Estate? Cash? No one has cash right now. A Loan? good effing luck getting a loan right now.

I think bank CDs are going to make a short term comeback. Rather keep the principle and lose 2% to inflation every year than lose 5-10% of principle in the stock market every year.

 

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#3) On July 29, 2008 at 1:31 PM, TMFCHarris (99.57) wrote:

Dig the new name! Anything behind the change, or are you just keeping us on our toes?

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#4) On July 29, 2008 at 2:13 PM, abitare (33.77) wrote:

Richthofen80,

Not all real estate is bubble McMasions. I bought in 99-01 and I am doing just fine, it has performed better then 98% of the stock market. I love, love love reasonable priced farm land. I am short stocks, I am looking for real estate, that is as close to free as possible. And we will have "free" houses again.

But I agree with your over all idea.  

 

 

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#5) On July 29, 2008 at 3:04 PM, abitare (33.77) wrote:

Free real estate?

 

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#6) On July 29, 2008 at 7:55 PM, lquadland10 (< 20) wrote:

Very good artical. Where have all the jobs?
Ford to build new Fiesta in Mexico GREGORY BULL / Associated Press Ford Motor Co. CEO Alan Mulally (left) shakes hands Friday with Mexican President Felipe Calderon in Mexico City after Ford announced plans to build its new Fiesta in Mexico. “We want Mexico to be an automotive country, one that is competitive and with the most advantages so that the worldwide automotive industry will establish itself here,” Calderon said.



By TOM KRISHER AP Auto Writer
5/31/2008

DETROIT — Ford Motor Co. plans to build its new Fiesta subcompact at a factory near Mexico City for sale in the U.S., the company said Friday.

Ford plans to retool its Cuautitlan Assembly Plant from large-truck to small-car production as it moves to shift its factories from trucks toward more fuel-efficient vehicles, the company said.

The move is a blow to the United Auto Workers union, which last year approved a contract that granted concessions to the automaker. Earlier this year, UAW President Ron Gettelfinger said the union would try to convince Ford that its U.S. plants were competitive enough that the automaker could make money building its smallest cars in the U.S. Currently, all subcompacts sold in the U.S. are built overseas, he said.

The union doesn’t represent workers in Mexico. As for free land. You are spot on. Start looking in the country because as gas rises then there is migration to the city but then you know that.

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#7) On July 29, 2008 at 8:43 PM, abitare (33.77) wrote:

The worst market crisis in 60 years

By George Soros

Published: January 23 2008 02:00 | Last updated: January 23 2008 02:00

T he current financial crisis was precipitated by a bubble in the US housing market. In some ways it resembles other crises that have occurred since the end of the second world war at intervals ranging from four to 10 years.

However, there is a profound difference: the current crisis marks the end of an era of credit expansion based on the dollar as the international reserve currency. The periodic crises were part of a larger boom-bust process. The current crisis is the culmination of a super-boom that has lasted for more than 60 years.

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#8) On July 31, 2008 at 4:58 PM, lquadland10 (< 20) wrote:

imf

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