Federalist Paper #53

"Absolute power corrupts absolutely".Can't remember whose quote that is,but it is spot-on.The wisdom of the Founders was even more prophetic that they could have imagined. I do not believe for a NY second they approve of these career politicians of today. Sadly,far too many are going into it for THEIR own selfish reasons,as opposed to the betterment of the nation. As far as Rush or others,this will get NO traction coming from him,but should an actual party official put this out there,who knows. The DAILY assault on the Constitution comes from those who obviously have a hard time with English comprehension. Do they ever say The Holy Bible is a living,breathing document? No.That is total bullhooey.They do not like PRECISELY because it limits THEM.You are correct in stating there will be a backlash. It is already happening. The spell this cluck weaved over so many is finally starting to lift. I think Obama is trying to cram as much of this crap down as quickly as he can,because deep down even HE knows this ain't going to play in Peoria.CK,I lament the loss of direction this country has taken from how it was founded. Once these clowns get done with their little "experiment",we
won't know what hit us.Obama giving market advice? I missed that.Who HAS any money left to invest? In what? He is trying to RUIN the capitalist system,why would any thinking being trust this guy? If E.F. Azhat is speaking,it is best to NOT listen. Under normal market circumstances,buy low,sell high,yes,it WOULD be a good time to buy.I can see here how well it is working. The market is off by 134 already today.Obama knows as much about capital markets as I do about brain surgery.Your last paragraph we have discussed. We need a Shakespearian Solution.Kill all the lawyers.

I disagree on Rush not gaining traction. Term limits is something that even liberals can sympathize with and with Rush putting it out, 20 million people are already on board. Let it spread from their and get an official to introduce it, congress will then be forced to make a decision on the case. But, that is all opinion so...neither here nor there.

Yea, Beck had a video on Obama talking about how it might be a good time to invest in the market. I think this market will plummet much further. The housing market still has a long ways to fall before it meets up with where it was supposed to be all this time. I already put that video up with housing costs, and if they fall another 40% from here...well I could see the DOW hitting 3k or so.

Well,we will simply disagree. The left,along with the willing lapdogs in their media, would absolutely ridicule ANYTHING Rush may say about the topic,but,I will agree with you at least getting the discussion going. A 3000 Dow? Say it ain't so! mwahahahaha CK,I'll let you in on something here.At the time I decided to sell my trucks in 2006,and retire based on the returns on our investments,which at that time was near $120,000 per year,our net personal worth was right around $7.3 million. What with the losses in the value,not only of our securities, annuities,etc,but real estate we own,we are down now to about $3.7 million. I don't care who you are,THAT hurts.Especially the LONG,HARD hours the wife and I both put in. I'm not bitter,CK,but am HIGHLY concerned. Who'd hire a 60 year old woman,or a 56 year old man with some past health issues? Can't do what I used to,as much as I'd like to.

Yea, it is going to hit your generation the worst since retirement is all many have at that age. Someone at say 30 years of age can withstand a hit and continue on making money.

It is lucky that you have put away as much as you did as that would be a major hit if say you had 750k down to 375k. Retiring on that would be impossible. Do you still have a good portion of that money in 401k? or in the stock market in any fashion?

The markets may collapse, but those that can somehow avoid it will be left with a good sum. If those that have some millions can hold on to it, it may be some of the best times for them. Prices will floor and they will be left standing. Investments will be at a low and mainly there won't be anything to lose. That is a big IF though.

To answer this,no,not all. We moved a lot of stuff,bought quite a number of municipal bonds,have quite a bit of parked cash,don't want to leave THAT sit too long,once the inflation hits due to non-stop printing of money since late last year,some gold,I did not want to buy too much gold at the inflated price it currently is,we bought in at $825 an ounce.The 401k's,and annuities we left alone,not a lot we could do there given the laws under which they are established,so we will have to ride it out,see where it goes. We had thought about starting up another business this spring,but in this climate,ain't NO way would I do that.

My dad has really gotten into gold and silver. He has been buying them for the past 5-6 years when the prices were lower. He has a good stockpile now so if anything goes wrong, we have that to fall back on.

Looks like you should be able to handle our economic conditions coming ahead. If only they do not inflate the dollar too much that is. Lets hope Obama doesn't resort to straight out printing until we go under. That will pretty much destroy our country.