Comments on: Wall Street and you. Does this turmoil stuff matter to the average joe? http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/ Put the \"personal\" back in personal finance, the \"me\" in money management, the \"I\" in investing. Mon, 23 Nov 2009 17:08:19 +0000 http://wordpress.org/?v=2.3.3 By: Midwest Product http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9588 Midwest Product Wed, 17 Sep 2008 20:06:41 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9588 Steve-- The new Republicanism in a nutshell: Privatize social security, nationalize the banks. I'm not sure what makes me angrier about the AIG bailout, the fact that just a few days ago the AIG execs turned down a private equity solution because they would've lost their severance pay, or the fact that AIG moved their incorporation status offshore a few years ago to avoid paying taxes. Steve– The new Republicanism in a nutshell:
Privatize social security, nationalize the banks.

I’m not sure what makes me angrier about the AIG bailout, the fact that just a few days ago the AIG execs turned down a private equity solution because they would’ve lost their severance pay, or the fact that AIG moved their incorporation status offshore a few years ago to avoid paying taxes.

]]> By: bsimon http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9587 bsimon Wed, 17 Sep 2008 20:03:46 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9587 "I just don’t get how they could sway so far from Reagan’s message." I call it the Republicans' Accidental Socialism. By over-deregulating the markets (for instance, repealing Glass-Steagall), the financial industry was closer to anything-goes anarchy than organized capitalism. In their zeal to remove government influence from the market, they created an environment that required government intervention. That's Irony. “I just don’t get how they could sway so far from Reagan’s message.”

I call it the Republicans’ Accidental Socialism. By over-deregulating the markets (for instance, repealing Glass-Steagall), the financial industry was closer to anything-goes anarchy than organized capitalism. In their zeal to remove government influence from the market, they created an environment that required government intervention. That’s Irony.

]]> By: Steve http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9586 Steve Wed, 17 Sep 2008 18:49:21 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9586 Not really. But, the government bailing out companies. I don't get that, because the Republican administration talks about Reagan all the time being great. Reagan was against government intervention and takeovers and regulation. Now the current administration is doing it and McCain is talking more regulation. I just don't get how they could sway so far from Reagan's message. Not really. But, the government bailing out companies. I don’t get that, because the Republican administration talks about Reagan all the time being great. Reagan was against government intervention and takeovers and regulation. Now the current administration is doing it and McCain is talking more regulation.
I just don’t get how they could sway so far from Reagan’s message.

]]> By: Midwest Product http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9585 Midwest Product Wed, 17 Sep 2008 17:03:11 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9585 Buying into this market seems like utter insanity to me. Even GE is way off today. I can't begin to imagine what's going to happen after WaMu and Wachovia go belly-up. And then Morgan Stanley and Goldman Sachs after them. MS: -35% GS: -25% WB: -20% WM: -10% Buying into this market seems like utter insanity to me. Even GE is way off today.

I can’t begin to imagine what’s going to happen after WaMu and Wachovia go belly-up. And then Morgan Stanley and Goldman Sachs after them.

MS: -35%
GS: -25%
WB: -20%
WM: -10%

]]> By: Mike Gordon http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9584 Mike Gordon Wed, 17 Sep 2008 15:04:43 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9584 Glad to see everyone is still delusional that growth is in our future. I would suggest cashing out all your 401k and 403b accounts now. Do the world a favor and buy a new SUV. Drive that baby while your job lasts. If we all do this, eventually everyone might realize the issue at hand and see there are limits to our insanity. Sadly, as we all know, it's mandated that those funds stay and get repaid if you do tap them out of hardship. No new SUV and nice buffer for the folks with life rafts. Too bad all the poor working stiffs will have to ride this out strapped to the deck. Glad to see everyone is still delusional that growth is in our future. I would suggest cashing out all your 401k and 403b accounts now. Do the world a favor and buy a new SUV. Drive that baby while your job lasts. If we all do this, eventually everyone might realize the issue at hand and see there are limits to our insanity. Sadly, as we all know, it’s mandated that those funds stay and get repaid if you do tap them out of hardship. No new SUV and nice buffer for the folks with life rafts. Too bad all the poor working stiffs will have to ride this out strapped to the deck.

]]> By: Coffeebreak8 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9582 Coffeebreak8 Tue, 16 Sep 2008 22:03:06 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9582 I have been contributing to a pre-tax 401K but now I am questioning whether to switch all new contributions to a Roth IRA is a more sound strategy. With billion dollar bail outs, war costs that aren't part of our trillion dollar deficit, Medicare/caid, etc., I can't imagine a future where I would pay less taxes in the future than I do right now. Does this strategy make sense? I have been contributing to a pre-tax 401K but now I am questioning whether to switch all new contributions to a Roth IRA is a more sound strategy. With billion dollar bail outs, war costs that aren’t part of our trillion dollar deficit, Medicare/caid, etc., I can’t imagine a future where I would pay less taxes in the future than I do right now. Does this strategy make sense?

]]> By: dc1515 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9581 dc1515 Tue, 16 Sep 2008 14:49:17 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9581 I am trying to do my part to turn this mess around. I am picking up a house and was able to get a mortgage rate that was .875 lower than when I first checked into the rates I would qualify for. But like Kara, my portfolio is down significantly. I am trying to do my part to turn this mess around. I am picking up a house and was able to get a mortgage rate that was .875 lower than when I first checked into the rates I would qualify for. But like Kara, my portfolio is down significantly.

]]> By: Betsy http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9579 Betsy Tue, 16 Sep 2008 03:28:53 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9579 I am not close to retirement, so I just figure Wall Street is having a fantastic sale and that my investment dollars are buying lots of shares that will all have increased in value by the time I retire. If you have any extra cash, now is *the* time to invest. But if you are retired, or close to it, this market is financial hell. I am not close to retirement, so I just figure Wall Street is having a fantastic sale and that my investment dollars are buying lots of shares that will all have increased in value by the time I retire. If you have any extra cash, now is *the* time to invest. But if you are retired, or close to it, this market is financial hell.

]]> By: David http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9578 David Tue, 16 Sep 2008 02:17:37 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9578 No need to abandon ship. It could be a great buying opportunity for some...and there are other positives in the long-term. For example, check out rates on fixed-rate mortgages - dropping daily and I aim to lock a re-fi by week's end. No need to abandon ship. It could be a great buying opportunity for some…and there are other positives in the long-term. For example, check out rates on fixed-rate mortgages - dropping daily and I aim to lock a re-fi by week’s end.

]]> By: bsimon http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9576 bsimon Mon, 15 Sep 2008 21:57:44 +0000 http://blogs2.startribune.com/blogs/kablog/2008/09/15/wall-street-and-you-does-this-turmoil-stuff-matter-to-the-average-joe/#comment-9576 Small caps & a REIT are the only areas where I've seen gains in the last 6 months. Small caps & a REIT are the only areas where I’ve seen gains in the last 6 months.

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