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Dems owe me
Canuck57 wrote:
"Jim" wrote in message ... Canuck57 wrote: "Keith nuttle" wrote in message ... Tom Francis - SWSports wrote: On Wed, 5 Nov 2008 18:34:01 -0800 (PST), wrote: So, my retirement fund loses $80,000 due to Dem Chris Dodd of the banking comitttee and Barney Frank and the other dems who refused to take action in 2005 when they were warned their actions were endangering the economy No - you lost $85,000 because you were stupid enough to keep your funds in whatever type of account you had it in. Cash dude - been saying that for years - in fact, since 2004. Haven't lost a thing because I recognized the bubble and kept my powder dry. Another couple of months, I'm ready to get back in. Except the 2% LOST to inflation every year. or about 100/1000 over the four years. With the twit going to be in the White House expect that to double hopefully not the double digit inflation during the Carter years. Good point, as I am at about 2005 valuations, at least I got more than 1% return using Jan 2005 as a base. And in the bank, you might not get your money. The last place to put it is the bank, find a brokerage account where the broker does not do loans, mortgages and the like. Please explain. I think you got it backwards. Lets see, $100,000 in the bank for 5 years @ 2% is a little over $110,000. Inflation was 3% or higher for most of the period. So today, to have the same buying power you need at least $115,000. So, in the bank you lost $5,000 in buying power. Which leads into the "liquidity crisis". What a line of bunk. There is no liquidity crisis, there is a shortage of people who will supply money at below inflation and lose value. That is, a bankrupt bank wants to borrow at a rate lower than inflation and might not pay you back. Hardly a good investment. But I digress. You would be best to buy gold, platinum or silver even. Banks are bad long term places for money. Thanks. Thought you were talking about stocks. |
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