Tighten your belts people...

[MSum661]

Nothing is going to happen

Congratulations on doing things well!

 

[HB2Havasu]

This time around I have no debt. Lesson learned.

Your house is payed off?

 

[lbhsbz]

I saw the last recession coming in early 2006 and tried to prepare...it didn't matter, still lost everything. I see similar signs lately.

What steps did you take to try and prepare?

 

[zhandfull]

I'm thinking the dow needs a reset back to about 17k. You have to remember the fed/gov was pumping 80 billion a month into the market for several years, that's almost a trillion a year.

Yeah I'm thinking back to 17-18,000 in the next couple years. Sounds crazy but it's really not.
Look at Facebook it was on sale at 175.00 and now is down to $ 140.00

 

[LazyLavey]

Lizabeth..... It's the big one!!!

Be smart... don't live beyond your means!!! diversify

it's a vicious cycle

 

[HotRod82]

Funny how some see the sky is falling, others (like me) see the first quarter of next year being phenomenal. Stock market isn't going anywhere with the jobs numbers being where they are.....I swear the biggest threat to the market is all the nervous nellies panicking every time the market dips 10 points.

 

[GRADS]

What steps did you take to try and prepare?

Business wise I stopped taking a paycheck in the fall of 2006 to try and keep as much money as I could in the business. Also tried to unload some of the things I had payments on.

EDIT: In hindsight this was a stupid decision. I worked for free for 18 months when I should of pulled money out of the company and closed it down a year earlier.

 

[GRADS]

Your house is payed off?

No it’s not but that’s pretty much my only payment and my monthly payment is so low I could collect aluminum cans to pay it if I had to.

 

[jmeads]

I have almost nothing in stocks right now. Hoarding cash at this point. It's coming. Mark my words.

what about your beloved Apple. Do you still own Apple

 

[Angler]

Grads knows it all all when it comes to the economy. Grads, how did you do on that FB stock you bought at $178 range?

 

[GRADS]

what about your beloved Apple. Do you still own Apple

Yes we do and quite frankly I don't know what to do with it at this point.

 

[GRADS]

Grads knows it all all when it comes to the economy. Grads, how did you do on that FB stock you bought at $178 range?

I bought it at $175.63 and sold it at $163.33

 

[jmeads]

Yes we do and quite frankly I don't know what to do with it at this point.

keep it, my money says they kill it over the holidays and report huge earrings. just my 2 cents

 

[GRADS]

keep it, my money says they kill it over the holidays and report huge earrings. just my 2 cents

I hope you're right, we got a couple hundy tied up in it and this last month or two it has been hard to see it go down by 20-25%.

 

[TCHB]

When am I going to get my tax break?? Time running out.

 

[CoolCruzin]

Congratulations on doing things well!

But save your money, you never know.

 

[J.P.]

At least apple pays a nice dividend as long as they are making money..

 

[LargeOrangeFont]

No it’s not but that’s pretty much my only payment and my monthly payment is so low I could collect aluminum cans to pay it if I had to.

Good deal. Congrats.

 

[LargeOrangeFont]

I hope you're right, we got a couple hundy tied up in it and this last month or two it has been hard to see it go down by 20-25%.

Legit question -

Do you worry about having so much into a single company? If your wife still works there I’m sure she is getting ESPP which is why you have a lot of the stock. But a source of income and 1-2 years worth of salary tied up in a single company is something to think about.

On the other hand it is Apple.

I was in a similar situation at the last tech company I was at.

 

[beaverretriever]

Grads, sell everything including your computers and close all your accounts including RDP and get the fuck out of here before it completely goes to shit man! I heard North Korea was awesome this time of year. I just worry about you buddy and don't want to see you go through this crap.

I see things leveling out quite a bit here already which is good. We watch the real estate market like a hawk and can already see it smoothing out. Of course many want to cut a fat hog on their home etc, but it's bad when it just keeps skyrocketing. We are looking for piece of land to build a home and we want to see prices level or drop a little for sure!

 

[Xtrmwakeboarder]

I’m no economist, but wasn’t the last recession due to defaults? People living paycheck to paycheck, getting the axe due to a slowing economy, then not paying their bills? I still see people living way beyond their means, but I don’t see unemployment nor a slowing economy. These people will continue to make the min payment, and go under when the economy slows, which hasn’t happened yet. Imo. Finding good help is extremely hard and expensive right now. Very low unemployment.

 

[dribble]

I made money in the last recession. Refinanced my house to a 2.75 percent interest rate and used my savings to load up on stocks when everyone else was selling. Bought sprint for $1.50 a share and Harley for $10.00 a share. Bought an almost new house in a short sale that originally sold for 560K. Paid 275K for it, rented it to my step son and his family for the payment and then took a write off for everything I bought for any home improvement for three years. Flipped that house when he moved out and netted 40K. Used some of that money to buy a one year old Harley for 12K less than it sold for new. Bring on the recession. In the next one, I will be buying some land and building a house with a shop when everyone else needs the work. The key to making money is to zig when everyone else zags.

 

[ChumpChange]

Recession: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

And your point is?

 

[MSum661]

Recession: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

And your point is?

exactly.

 

[EmpirE231]

It will be worse than 2008...

Thanks Obama!!

 

[GRADS]

It will be worse than 2008...

Thanks Obama!!

No shit, Trump takes credit for the prosperity but will somehow blame a recession on Obama. I can see it now.

 

[GRADS]

Recession: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

And your point is?

Thanks for looking that up in the dictionary for everyone else.

 

[ChumpChange]

Thanks for looking that up in the dictionary for everyone else.

Investopedia to be exact. So what’s you’re point? If you’re comparing a normal recession cycle to the economic meltdown of 2008, then you need to read up a little.

 

[DaveC]

So does that mean you are shorting Apple?

 

[Flying_Lavey]

The key to making money is to zig when everyone else zags.

Meh..... More importantly.... Being liquid enough to make that zig happen at the time it needs to happen.

Sent from my LM-G710VM using Tapatalk

 

[GRADS]

So does that mean you are shorting Apple?

I wish I would of sold a big portion of it 2 months ago...and the thing that kills me is I almost did.

Lost a little over 8K today alone. FUCK!

 

[El Guapo]

We're headed for a recession. Nothing like 2008 but it's coming.

Any proof or theory behind your statment. Not picking a keybord fight, just curious to hear you elaborate on your thoughts.

 

[GRADS]

Any proof or theory behind your statment. Not picking a keybord fight, just curious to hear you elaborate on your thoughts.

I try not to elaborate on anything.

 

[El Guapo]

I try not to elaborate on anything.

ok

 

[Royally PO'd]

Obviously you are confusing the nads with someone that knows something of which he speaks... The nads is ALL about spewing his inane banter, just to make waves...

 

[HOOTER SLED-]

Anyone got a Ferrari they wanna part with?

 

[DaveC]

Did you just call Grads a desperate housewife?

Obviously you are confusing the nads with someone that knows something of which he speaks... The nads is ALL about spewing his inane banter, just to make waves...

 

[GRADS]

Did you just call Grads a desperate housewife?

Trophy Husband... get it straight.

 

[DaveC]

I didn’t say it. He did

Inane banter implies an old woman. An old bitty Lol

Trophy Husband... get it straight.

 

[Bobby V]

I didn’t say it. He did

Inane batter implies an old woman. An old bitty Lol

Batter up...

 

[Dalton]

I’m no economist, but wasn’t the last recession due to defaults? People living paycheck to paycheck, getting the axe due to a slowing economy, then not paying their bills? I still see people living way beyond their means, but I don’t see unemployment nor a slowing economy. These people will continue to make the min payment, and go under when the economy slows, which hasn’t happened yet. Imo. Finding good help is extremely hard and expensive right now. Very low unemployment.

bad mortgages also, in a book I read one instance or example was a mariachi singer getting a huge mortgage, his main proof of employment in the documents was a picture of him in a mariachi outfit.

 

[GRADS]

I just posted this thread so in a year from now I can say I told you so.

 

[LargeOrangeFont]

I just posted this thread so in a year from now I can say I told you so.

Thanks Nostradamus.

 

[TCHB]

I’m no economist, but wasn’t the last recession due to defaults? People living paycheck to paycheck, getting the axe due to a slowing economy, then not paying their bills? I still see people living way beyond their means, but I don’t see unemployment nor a slowing economy. These people will continue to make the min payment, and go under when the economy slows, which hasn’t happened yet. Imo. Finding good help is ext

bad mortgages also, in a book I read one instance or example was a mariachi singer getting a huge mortgage, his main proof of employment in the documents was a picture of him in a mariachi outfit.

Funny thing I was looking for a new RV and salesmen told me that 80% of all RV sales are financed for over 10 years. Here we go again?

 

[Done-it-again]

Funny thing I was looking for a new RV and salesmen told me that 80% of all RV sales are financed for over 10 years. Here we go again?

But that is typical for RV's I'm sure they are mostly 15 yr and nothing new. The issue now would be that you cant write of trailers as 2nd homes and interest. Will see come tax time.

 

[Classic Daycruiser]

Only a few folks will be happy with their returns this year.

My home equity is the only category I saw positive gains. (20%)
It will be interesting to see where real estate is headed. If jobs stay strong, I imagine real estate will remain tight.

Our problems in the near future will be labor shortages. All trades have a lack of experienced employees, to scale up and train new employees? Labor problems are bottle necking our ability to grow the economy.
https://www.cnbc.com/2018/11/20/stock-market-dow-futures-negative-as-tech-stocks-sink.html

 

[ChumpChange]

Funny thing I was looking for a new RV and salesmen told me that 80% of all RV sales are financed for over 10 years. Here we go again?

But that is typical for RV's I'm sure they are mostly 15 yr and nothing new. The issue now would be that you cant write of trailers as 2nd homes and interest. Will see come tax time.

You can get them over 20yrs! Get a motorhome. You can write it off.

 

[Done-it-again]

You can get them over 20yrs! Get a motorhome. You can write it off.

I’m waiting to see the final outcome with taxes before we make our decision. Perhaps there will be some decent rvs coming for sale.

 

[GRADS]

Anybody looked at the stock market lately...it's coming...

 

[TCHB]

I’m waiting to see the final outcome with taxes before we make our decision. Perhaps there will be some decent rvs coming for sale.

Anybody looked at the stock market lately...it's coming...

Not good!!!