America's Financial Crisis

[Azad]

Re: America's Financial Crisis

well american economy is not doing good in comparisson to previous standing, but in comparission to most of the economies in the world, it is still strong. Because of Georgian War Armenia has been effected greatly economically to the point where there has been widespread gasoline (benzine) shortages. Armenian economy is more critical right now, even though American economy is not doing so well and people are effected (including my family).

Mos you can not compare the American economy to a "small tribe of unimportant people, whose wars have all been fought and lost ..." (not the last war). I would rather be in a small country in the corner of the world with some self sufficiency than in the world's super power when the sheet will hit the fan (which will be soon).

[Azad]

Re: America's Financial Crisis

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No, really. I live a middle class - debt free - life. I live a modest life. I can afford an upper middle class life, but I wouldn't like the kind of neighbors I would then have. I can afford to live in a bigger home but I prefer one that is sufficient for me and my family. I can afford to drive an expensive car but I prefer one that suits my personality - reliable, efficient and sexy. I live comfortably - below my means. Living below one's means is the secret to living a worry free/comfortable life in a society that emphasizes living beyond one's means.

You do sound like a true Armenian or like most Armenians ... well except CA Armenians. No offense to the posters from CA, I am sure you are not included in that group.

[Mos]

Re: America's Financial Crisis

well american economy is not doing good in comparisson to previous standing, but in comparission to most of the economies in the world, it is still strong. Because of Georgian War Armenia has been effected greatly economically to the point where there has been widespread gasoline (benzine) shortages. Armenian economy is more critical right now, even though American economy is not doing so well and people are effected (including my family).

[Armenian]

Re: America's Financial Crisis

I like the oxymoron.

No, really. I live a middle class - debt free - life. I live a modest life. I can afford an upper middle class life, but I wouldn't like the kind of neighbors I would then have. I can afford to live in a bigger home but I prefer one that is sufficient for me and my family. I can afford to drive an expensive car but I prefer one that suits my personality - reliable, efficient and sexy. I live comfortably - below my means. Living below one's means is the secret to living a worry free/comfortable life in a society that emphasizes living beyond one's means.

You do sound wealthy, at least in knowledge.

That is my wealth

american economy is fine, there more worse economies at stake there like our Armenian economy

Mos jan, putting aside Armenia's dismal economy for a moment, why would you think the American economy is doing fine, especially at a time like this? I suspect your parent/parents do well financially. But we are talking about the economic pulse of the nation, not individuals who have managed to secure themselves financially.

[Anonymouse]

Re: America's Financial Crisis

My portfolio is down by 1/3 from it's high (which was about one year ago)...that's BAD.

I'd be curious to find out how any of you are fairing/

My investments are very low, as I am still very young and have not worked enough yet to save and invest (school), but in these turbulent times, I would stay away from the stock market.

In times of extreme volatility, you're better off not only (1) diversifying your portfolio, but also (2) investing in safer bets for the long term like bonds or CDs, etc. But to be honest, if I had the dough, I'd much rather invest in commodities. The value of paper currencies is very low, especially when you have something like the dollar. Historically, when the value of paper currencies decline, the price of commodities such as gold increase, as has been occurring in the past several years.

[gmd]

Re: America's Financial Crisis

My portfolio is down by 1/3 from it's high (which was about one year ago)...that's BAD.

I'd be curious to find out how any of you are fairing/

31% this year alone.
at least i sold all my options last yr before the stock of the company i work at collapsed.

[Azad]

Re: America's Financial Crisis

... modest financial wealth

I like the oxymoron.
Come on Armenian, just spit it out. You do sound wealthy, at least in knowledge.

[Armenian]

Re: America's Financial Crisis

My portfolio is down by 1/3 from it's high (which was about one year ago)...that's BAD. I'd be curious to find out how any of you are fairing/

When it comes to finances I'm a bit conservative and old fashioned. I was never one to trust the markets. I actually get very turned-off by Stock Market talk. However, for purposes of diversification, ten years ago I placed some money in stocks/mutual funds. Needless to say, I got into the Stock Market when it was at its height. I have not placed any additional funds into my portfolio since the year 2000. Today, my ten year old portfolio's dollar worth is approximately half of what it used to be in the year 2000. However, most of my modest financial wealth is in real estate, government bonds, bank CDs and overseas. My suggestion to all who have money to park or invest - 'diversify' your investments. Diversify in the truest sense of the term. Purchase precious metals, purchase government bonds, purchase strategic real estate, purchase Euros, etc...

[Mos]

Re: America's Financial Crisis

american economy is fine, there more worse economies at stake there like our Armenian economy

[Azad]

Re: America's Financial Crisis

I lost 40% of mine when the tech. gave up 5 years ago. So I locked the remaining into 5.5% CDs for the next 7 years. Means nothing if the $ is worth to wipe one's but. Gold would have been best. Well, well, money never made anyone happy.