Comments on: David Tice Says S&P Going To 400

By: DesignR

DesignR — Thu, 14 May 2009 01:24:16 +0000

I don’t know any dates. Glenn Beck discussed it this morning on his radio show. Made the hair on the back of my neck bristle.

By: Specter

Specter — Wed, 13 May 2009 16:57:24 +0000

Didn’t that occur on April 16th?

By: DesignR

DesignR — Wed, 13 May 2009 14:49:44 +0000

* * * * * W A R N I N G * * * * *
China has asked the IMF to release all of it’s Gold to them, and in return China will give the IMF US Dollars. The US has the right to VETO this action, but who is in charge of the Veto? Barney Frank is in charge and has asked that the transfer be allowed.

What does this sound like to you?

They are getting ready to dump US Dollars. The fall is about to occur! Buckle your seat belts and sinch them. We are about to fall, and fall BIG!

By: JCD

JCD — Wed, 13 May 2009 00:49:43 +0000

I tried to cash mine out, they won’t let me. Said I have to be 65 or in foreclose, or have alot of medical bills totaling a certain percentage of my income.

By: John

John — Tue, 12 May 2009 23:35:24 +0000

Jim Rogers, Peter Schiff and David Tice have been out front for years making calls that have been right on… Take what he says to the bank…

By: Specter

Specter — Tue, 12 May 2009 23:08:01 +0000

Well said DesignR

I feel pretty bad for the ones who haven’t cashed out yet, alot of 401′s are frozen depending on who it’s thru. I took mine out in early Nov 2008 and am in the exact same luxury carboat as you.

By: DesignR

DesignR — Tue, 12 May 2009 22:43:08 +0000

“January I cashed out the 401K”

That should read, “December 2008 I cashed out the 401K”.

That was so I would not incur 2009 taxation from the Obama administration. It’s probably too late to replicate what I did without incouring significant tax loss.

By: SOC

SOC — Tue, 12 May 2009 22:39:20 +0000

Obama is ruining the country….

By: DesignR

DesignR — Tue, 12 May 2009 22:36:47 +0000

Take this conversation to heart.

This is the big drop.

Lower your lifestyle to a minimum, keep some liquid money for emergencies, but expect inflation to wipe cash out quickly. Now is NOT the time to buy a new car or boat.

If you can keep your job after the drop, and your pay is tied to inflation, use the inflated money to pay off your debt, mortgages first, then other debt as fast as possible. OWN your ‘real property’, if you can.

Stay cool.

After the fall, this will be the time you can pick up bargains, if you are smart and have liquid assets like gold coins or paid for real estate. Many Millionaires have been made after a market crash.

I’m not rich, but I practice what I preach.

So far, Iâ€™ve kept my 401K loss to less than 13% after the big summer/fall slide (Government money market early on). Stocks were going down, with no ease in sight, and I anticipate inflation. So, in January I cashed out the 401K, paid the full tax and penalty (before Obama got to it), the penalty being the only real loss (The tax getâ€™s paid no matter what) and bought a small house as income property in a well populated blue-collar neighborhood. I paid more than 50% down and now owe less than the price of a luxury car. We are cutting all expenses back and hope to pay off the principal as fast as possible. For me, a second job on the weekends is going to happen as well.

Keep your powder dry, stay provisioned, but donâ€™t neglect your personal assets! You’ll need what you can salvage.

By: Specter

Specter — Tue, 12 May 2009 22:15:17 +0000

Not many people are aware that we had three sustained rallies prior to the great depression. Two of them were in the 30% range and one of them was a 52% gain.

You don’t have to be a genius to see that we’re fricken broke people. There are over 600 trillion in derivatives out there and some have called it at 1.3 quadrillion. The numbers are absolutely staggering.

Do not ignore this issue people, you do so at your own peril.