Beans, Bibles and Bullets - Better Stock Up Boys

[W1UJR]

The market dipped below 10,000 today, and without getting political, I'm more than a little concerned.
I see circuit breakers kicked in on short selling, and even "Mad Money” host Jim Cramer said it's time to bail out of the market.
Normally when folks are selling, its a prime time to be buying, but this time around I'm not sure.

Perhaps it is the winter coming, and people are just hunkering down for cold weather, but here on the coast of Maine, its like someone turned out the lights.
And its not just the end of tourist season either, I've lived here for 7 years now, and this feels much deeper. You can see it in people's faces, folks seem more dour and downcast, road traffic has dropped, and I've noticed the parking lots of the big box stores look pretty empty. Several of the area's small businesses have gone away, new car dealers are starving, and even the upscale restaurants seem to suffering.

For a couple of weeks I was on a news holiday to avoid the political madness, but lately I've gotten the itch to check things out, and it sure does not look good.
I even had a client come in last week desperately wanting to bail out of his two Audi TT convertibles and Cobra replica, and this was someone with deep pockets. On one hand, I was thinking its prime time to buy real estate and other hard assets, but have to wonder if we've seem the bottom yet. Having not lived through the big "D" word, the closest I came was the crash of 1987, I'm more than a little hesitant.

What's it like elsewhere in the country, anyone booming, or about the same?

[WA1GFZ]

Bruce,
I heard Cramer this morning.... A couple weeks ago he thought UTC stock would drop to $51, today it is just above $52. Oil is coming down so might be time to top off the tanks.
Imagine the dope who wanted to put our SS money in the stock market.

[KB2WIG]

And now were putting $700 billion into the banks??

Where is all the SS money now?           Its in IOU's.

Rice is nice... good starch to go with the bean protein...  And then there is that deer eating the wifes flower garden..........


We are the morons that let this all happen

klc

[KC4KFC]

Hey Bruce,

Nashville had a gas shortage a couple of weeks ago but now its seems back to normal, supply wise. However, people are not out on the streets as much, staying home saving gas, I guess.

Wonder if you got my email....

Staying home saving gas and listening to my Maine TransOceanic.....

Mark
KC4KFC

[W1UJR]

Just keep it non-political fellas, and give the moderators a break. 
Know that's tough, but this more a survey about what you think and see in your areas.

[W9GT]

We don't see a lot of area-specific reaction here in the Midwest, however, everyone is very concerned.  Jobs were already being cut by the thousands in the auto and RV industries largely due to high energy costs.  Many people are hurting or worried that it will be a tough winter. 

There is certainly plenty of blame to go around....so as far as the political debate, both sides have plenty to answer for!  It is, however, very strange observing the timing of this debacle.  Depends on how it is viewed, what effect it could have on the upcoming election.  It also seems, however, that due to many excesses, and lots of greed and corruption in and outside of government and on Wall Street, we could be in for some nasty times ahead.
 
On the optimistic side.....these things tend to be cyclic and eventually work themselves out.  It just might take awhile.  Owning "hard assets" and paying down as much debt as possible seem like good strategies but who knows what the best path is at this point.  Maybe if the sunspots return, the economy will improve.

73,  Jack, W9GT

[WA1GFZ]

Jack,
A Zit is a Zit and usually appears on Thursday before a big date.

[k4kyv]

Just keep it non-political fellas, and give the moderators a break. 
Know that's tough, but this more a survey about what you think and see in your areas.

I'm not sure you can talk about any relevant topic (even ham radio related) at present, and not have it interpreted by someone as "political".

That said, maybe this explains why Lowe's was so barren of customers this morning when I went to purchase some building material for ongoing projects.  There were only two check-out lines open, and there was no wait to pass through either one.  I was wondering where everyone was, but the connection didn't click.

I have some stock holdings in an old 401K, and I became eligible to roll it over into something else when I hit retirement age last year, but I hesitated.  It has taken some big ups and downs, but many of the options I was undecided about last year would have proved disastrous, so maybe it's just as well that I took no action.  Last time I checked, the stock (which is in a supermarket chain in the Los Angeles area) was holding up pretty well.  Regardless of what happens, people still have to eat. 

But even if I put it into something "safe" with a "guaranteed"  rate of return (or at least not to lose dollar value), such as a CD, it's not going to be worth anything if the value of the dollar(ette) drops below that of the paper it's printed on.

I was listening to a call-in show this morning (not one of those raving political maniacs who dominate the AM band), and their guest was some economist who formerly worked in the federal government, and there was a general opinion in the discussion that a full economic recovery is going to take years, if even within most of our lifetimes.

[K3ZS]

Great news !
with oil dropping , you can now afford to fill your gas tank , just in time for the repo man to tow your car from your foreclosed house. but you can buy a bicycle, made in china from walmart to go to your soon to be closed factory , which has been outsourced to india...

[WA1GFZ]

AH, can't wait to vote next month and reward the source.

[Ed/KB1HYS]

Things are fine here. You'd never notice. although people might be taking it easy on the extra spending (which is a good thing we don't save enough anyway).

This will blow over, as it always has in the past, and the average Joe will be out a lot of hard earned cash while a priveledged few will have reaped a major PayDay.  CEO's and Bankers are the only ones who will get any benifit from the Bailout plan. We'll never see a dime.(Like gas has been under $90 a barrel for some time now,but we're STILL paying $3.50 a gal... go figure).  Look at the 1873 panic, the gov did the same thing, dumped a pile of cash into the economy, to keep things going.

How is it that a CEO can run a company into bankrupcy and STILL get paid all that money??  More importantly How can I get a job like that??  I KNOW I can run some big company into the ground, and probably a LOT faster than them too (I'm  Effecient).

Oh Yea,
Guns -- Check
Ammo -- Check
MREs -- Check
 

[NE4AM]

Shoot, I still have TONS of stuff left over from Y2K.

73 - Dave

[Dave KA2J]

We are “okay fine” here in Henrietta, NY!  There are a slew of us here that thought we were nearing retirement age, but a recalculation has moved that date out for some time.

My mother and father-in-law were over for dinner last night.  They both were kids during the great depression.  They grew up in a time when people had very little and had to make do with special skills that the new generations do not have.  Gardens were planted in the backyard.  Laundry was hung outside to dry (think of the energy Americans waste each year by drying their clothes in a dryer when the sun is out and the gentle breeze is blowing) and fixing broken and making do with items rather than throwing them out and by new.  There was an entire different mentality about saving money and only purchasing when you had the cash.  You squirreled away what you could so your kids could get an education and maybe do better than you.

There could be a whole new generation of us that may learn new skills on how to keep warm, find food and make do with very little.

[Opcom]

fixing broken items.. no change for here. I have not bought a TV set in about 20 years, although I have bought a picture tube for it.. have manual can openers, all kinds of stuff for really going on the cheap if need be. so no worries. As for the bailout, remember it is your duty to pay as little tax as possible. Do a business from home, and get those honest deductions, it's easy. "Bailout? Not on my back!"

[W2XR]

The market dipped below 10,000 today, and without getting political, I'm more than a little concerned.
I see circuit breakers kicked in on short selling, and even "Mad Money” host Jim Cramer said it's time to bail out of the market.
Normally when folks are selling, its a prime time to be buying, but this time around I'm not sure.

Bruce,

I am something of a economics and political junkie, and I spend a lot of time doing my share of following both topics in depth.

I saw this mess coming back in August of 2007. Following it closely, I sold off all of my stock positions back in mid-January of 2008, including those positions where I had shorted the market. I also advised my closest friends and family to do the same thing; get the hell out of the market at that time. Those that did (most of the ones whom I had counseled), have managed to preserve their capital. Those that did not have suffered heavy losses.

I believe the stock market will be highly volatile for an extended period, and it is currently far from testing the bottom. We may see the Dow possibly go below 8000. As such, this is not the time to be buying stocks and going long, which is what most folks do.

Insofar as the housing market goes, that is also far from testing the bottom, so I don't think this is currently a good buying opportunity either. The housing market may not bottom out for another 2 years; the market has a tremendous inventory of new and existing housing that has to be sold off before any kind of a recovery in that sector can take effect.

The best thing you can do for now is to preserve your capital in a safe place. Great opportunities will exist both in housing and the stock market for those who are willing to wait. Ignore the foolish advice of stockbrokers who tell you that now is the buying opportunity of a lifetime, unless you want to flush your hard-earned cash down the drain, as this market continues to tank. Remember, there are some stocks that are never coming back (witness the dot.com bust of 2000, etc.).

Just my 2 cents worth. I hate to see anyone lose money!

73,

Bruce

[Steve - WB3HUZ]

There is no SS money. It would have been far better in the stock market, cuz then the wasters and do nothings in Congress couldn't have spent it.

[k4kyv]

There is no SS money. It would have been far better in the stock market, cuz then the wasters and do nothings in Congress couldn't have spent it.

Oh yes, the SS money is still there.  In the form of paper IOU's signed by the US Treasury. Not to worry. As long as the gub'ment stays solvent, we'll all be OK.
 
Looking forward to the warm, happy sunny retirement years yet to come.

[W1UJR]

The best thing you can do for now is to preserve your capital in a safe place. Great opportunities will exist both in housing and the stock market for those who are willing to wait. Ignore the foolish advice of stockbrokers who tell you that now is the buying opportunity of a lifetime, unless you want to flush your hard-earned cash down the drain, as this market continues to tank. Remember, there are some stocks that are never coming back (witness the dot.com bust of 2000, etc.).

Just my 2 cents worth. I hate to see anyone lose money!

73,

Bruce

Good points Bruce, thanks for sharing, and I see wisdom there.

Between what you shared, and Dave kicked in about life during the Great Depression, the next four years are going to be most interesting.

So, I'll return to my theme of beans, bibles and bullets...hunker down, learn to live simply, and be self-sufficient.
Sounds like a good recipe, even not in times of economic crisis.

Maybe, just maybe, we might all emerge from this wiser, and more appreciative of what we have now.

[ab3al]

Well I just took inventory

no joke
on hand we have

18,000 7.62x39
1200   30.06
800     12Gauge
150    50bmg
1300   45acp
50,000 .22 lr

150 lbs of black powder
600 sabots

2 cans of bush's baked beans
20 cans of hormel chilli (gotta talk to the wife about that one)
1 bible

hmmmm now i need a bunch of liquor to wash down all the damn squirrel im gonna be eating 

[Blaine N1GTU]

wheres a good place to buy MRE's?
would be good to have them around just in case

[KB2WIG]

for me,   

TP   

   is very important


klc

[W1IA]

Well I just took inventory

no joke
on hand we have

18,000 7.62x39
1200   30.06
800     12Gauge
150    50bmg
1300   45acp
50,000 .22 lr

150 lbs of black powder
600 sabots

2 cans of bush's baked beans
20 cans of hormel chilli (gotta talk to the wife about that one)
1 bible

hmmmm now i need a bunch of liquor to wash down all the damn squirrel im gonna be eating 

Holy Dooms Day Batman!?
Geez Mike...I thought I had a few too many rounds around. I only have 1000 round of 9mm and a couple of hundred 9mm hollow points. Maybe a few hundred shoot shells for trap.

I just picked up a new 12 gauge Mossey Oak Browning BPS Deerhunter. Topped with a Bushnell 1.75 X 4.0 X32 Trophy scope. What a sweet weapon. The Winchester Sabot rounds are pricey..about $16.75 a box of five. Those are truckin 7/8 once loads running about 1900 feet per second with about 3100 ft/lbs of energy out of the muzzle. Here Bambi, here boy...BOOM! Just a couple of Vidalia onions and a cast iron skillet and survival in style....no squirels..yuck! :

I am saving money for an AR-15. When the Muslim radical invade NH I will be prepared.

B(Tina)

[W8EJO]

I believe the stock market will be highly volatile for an extended period, and it is currently far from testing the bottom. We may see the Dow possibly go below 8000. As such, this is not the time to be buying stocks and going long, which is what most folks do.
Bruce

Please ring a bell, or post a message, when the market hits bottom so I know when to get in.

[N3DRB The Derb]

count the number of dead bodies under the skyscaper windows and do not buy in until they reach a level of 4 ft high.

I want to know where my bailout is. Either give me a bailout, or a CIA briefcase stuffed wih cash that was headed to Iraq. I have to live on less than 950 bucks a month. Am I really supposed to believe that these businesses, after making trillions and having every law in the books turned in their favor, having both R's n D's kiss heir asses and rings, that they needed bailed out? If so, It's the greatest swindle in US history.

Where's my bailout? I paid into SSD for 24 years. if these people who headed these companies do not get serious jail time, then I say off with their heads.

[Ed/KB1HYS]

I never actually bought any MRE's.  Uncle same always issued more than you SHOULD eat They are like 3K calories or better per meal, you can live on 1 a day (done it) and there were always guys who just wouldn't eat them and wanted to wait for hot rats. so i always ended up bringing some home.  Kids thought they were neat the first time...

I believe you can get deals on the net, but not real MREs.  Hunters Supply places often will sell you as many as you want too.