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spellcheckman's Blog

by spellcheckman from Leawood

Last Post 163 days, 9 hours Ago


This Friday the consumer sales activity for October will be released.  It is going to be a bad one causing huge losses, or actually, more huge losses in the Stock Market and related funds.

Yes,  it can go lower.   Selling may lock in your losses but also can prevent further losses.

No one is buying cars, 1.2 million jobs lost since Nov. 1.  and since then nearly 50,000 more jobs lost.  Xmas season is already predicted as dismal--Circuit City already pulling out before their busy season starts, same with DHL express, slashing 9500 jobs. 

Another $1800 or $2k check......will only delay the inevitable for most. 

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Member Comments Total Comments: 13
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NervousWill read my blog view my photos
Nov 10, 2008 | 5:10 PM

Spellcheckman,
Also MENSA eligible, but not a member. I believe our new president is as well. Maybe if I had joined Mensa, I would have seen that money could be made without working, investing in the stock market. I did not, and I have been retired for 15 years, very comfortably, and don't really give a damn about the stock market, which is, in my humble opinion, just legalized gambling.
So for all those that "made it" when the market went up, dont cry on my shoulder when it goes down.
Which brings up the question, if stockholders get rich when the market goes up, and every one pays to bail out wall street when it goes down, then shouldnt money made from stocks be taxed at a higher rate than income from flipping burgers, and etc.?
I think so.

flyover_mark read my blog
Nov 10, 2008 | 7:30 PM

Kind of explains a lot of things, doesn't it, SC? Looks like 52% of America is a MENSA candidate.

BlueSpringsRealtor read my blog view my photos
Nov 10, 2008 | 8:37 PM

I feel the pinch or say gouge. My husband was layed off and because there wer less than 20 employees we could not get cobra for continued health insurance. I had saved a 1000.00 and was hoping to have it for emergencies. I then cut my hand and tendon they would not even see me for surgery because I did not have 8,000 for the procedure. I tahnk god the ER doctor sewed it together and I have manged to rehabilitate most of use of my finger. I have spend almost 1000.00 in Doctors visits and prescriptions. Up until friday we had our space heaters to heat our home. I had to decide to pay for the home, the car, food, heat , or electric. I chose food and heat. I am embarrassed to tell anyone what is going on but really praying hard for some money to pay my rent. I lost everything almost a year ago as a result of being a victim in a car accident. I lost my home, my car and all of my equity as the BK court said I made too much money to file. I guess the courts could not do simple math and realize I am self employeed and W2's are much different than 1099's. My children will not be having presents this year and I cut my tendon open trying to sew a teddy bear for a christmas gift for my mother. I pray for relief soon and thank god i had almost 500.oo for propane and am still using space heaters and keeping the heat real low about 62 to 65 degrees to make it last. I know people habe it allot worse than me and I am not complaining nor asking for sympathy, just being living proof that yea.. the economy sucks.

gimini210 read my blog view my photos
Nov 10, 2008 | 9:36 PM

I hate to say it but it is only going to get worse. Now we will be sending our taxes to other countries to pay for their abortions, our ability to drill off shore is getting reversed, the 401K's, which are worthless just about, the dems want to take, and businesses are struggling to survive and Obama is going to add to the struggle. Yeap, it is going to get a whole lot worse.

sweethart read my blog
Nov 11, 2008 | 4:07 AM

Spellcheck, you are freaking out like a scared little girl. Selling based off of fears is a stupid idea. Go get yourself a lollipop and watch some cartoons. The news is screwing with your head.

mpvan read my blog
Nov 11, 2008 | 12:43 PM

Should have sold yesterday, it's losing 300pts about now!

NervousWill read my blog view my photos
Nov 11, 2008 | 1:50 PM

Isnt it amazing, less than 24 hours after the Republicans see their grip on the country slipping away, that all of a sudden we are in a recession? Republicans considering the country to be dumb, is the reason I am no longer a Republican.
Most if not all of this country has been in a recession for months but for the administration to admit would have assured their defeat in the election.
Guess what, their hiding the facts to help
stay in power has let the economy slide to what may actually end up as a depression and they still lost the election.
Now instead of stepping up to help the new administration solve the problem, they have 3 oars in the water looking to 2012.
Country First, my aching butt.

jpbikerfreak read my blog view my photos
Nov 11, 2008 | 3:02 PM

BlueSpringsRealtor, holy BLEEP, e-mail me your address and I'll send you a donation.

Seriously.

jpbikerfreak@yahoo.com

NervousWill read my blog view my photos
Nov 11, 2008 | 4:51 PM

Prepare yourselves for an onslaught. I my small town we have had 4 break-ins in the past week. As we near depression like conditions as there were in the 1930's, our generation may see it again.
I am pissed that the people we elected to keep watch on our economy have hidden realitiy from the public in order to preserve political control.
My parents lived through it, and we lived our lives in the shadow of the depression. They made sure I had a college education even though neither of them finished 8 th grade and the other high school.
We were poor but they never let me know it. I remember and respect their sacrifice for me.
I have lived my life to be sure that I could retire comfortably, with good health care.
I have not relied on making money on other peoples losses (stock market) or the board of trade, so I am not sympathetic to the people who now whine at their losses, but were silent in voice and taxes on their enormous gains.
No more whine please, I have had enough.

jpbikerfreak read my blog view my photos
Nov 11, 2008 | 5:00 PM

I've been saying it for months and months now nervous will, buy gold and lead.

Thank you for validating my predictions. It's here.

And yes it's only going to get worse, especially if / when we have a New Deal II to really screw things up.

spellcheckman read my blog
Nov 12, 2008 | 2:36 PM

Well, sweethart, since the post it went down another 500. It's still not too late.


Oh btw, it's going down..........further.

spellcheckman read my blog
Nov 12, 2008 | 6:47 PM

Ok....660 points in three days.

spellcheckman read my blog
Nov 19, 2008 | 7:24 PM

Whoooops, seven days past that, another 1000 points let go, now the thing is below 8,000.

A year ago it was at 14,000.

Uh oh. If you didn't sell by last Fri. it's too late!

It can still go down further. When the big 3 go out and 3 million lose their jobs and the ripples go throughout the economy, look for a 5,000 level.

Sell, Sell.

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spellcheckman

An old athlete. Member of Mensa and the Procrastinators club. Never can make it to the Mensa meetings! Electrical/Mechanical engineer who made some money on a patent most everyone uses. Part time English teacher, (sub) Exotic car nut, Porsche, Ferrari TR512 (Boardwalk Motors, Dallas) and C6 Corvettes. Not Liberal or conservative but has views per the topic. Views do not neatly group me into either label. Neither of which I judge to be bad. Disciple of George Carlin. Do not vote for anything or fill out surveys, or belong to a "church." Usually sees both sides of a story and will take the opposite side for argument and thinking purposes.

Member Since: 7/29/2007