Posted by Buzzman72 on February 05, 2010 at 23:59:41 from (74.129.194.33):
In Reply to: Re: well its gone posted by trucker40 on February 05, 2010 at 22:55:17:
NOw you go and bring the stock market into this. Do you remember what the Dow-Jones average was back in '87, when the market "crashed"? It had reached a high of 2700+ in August, and when the crash was over, it was at 1700+ in October.
It was about this time that more employers started offering 401(k) retirement plans, and rather than putting that money into bank certificates, folks were being told that was foolish thinking; that stocks were "nearly" as secure as banks, and after inflation you most likely LOST money on bank CD's. Since the "smart" people were making money hand-over-fist in their retirement accounts with stocks, you were told what a fool you were to NOT have your money there.
As recently as 2000, financial gurus like Dave Ramsey were telling folks that since the Great Depression, there had NEVER been a five-year period in which stocks didn't make money. So the key was to buy and hold, according to the experts. So folks like me bought in October of 2000...and a year later saw their investment's value drop by 55 percent. After waiting another four years, and seeing that investment only regain 90% of its original face value, some folks like me decided to get out while the gettin' was good.
SINCE I took my money out of stocks and put it into bank CD's, the principal has NEVER gone backwards, as it did in the stock market. Meanwhile, the "experts" have had to alter their advice about those 5-year periods never losing money.
So what's keeping stocks from continuing to climb? Well, the first wave of the Baby Boomers are reaching retirement age...so they're either selling their stocks for retirement cash, or they're shifting investments from stocks to other venues--like bank CD's--with a lower risk factor. And with the boomers bailing, there simply aren't enough younger people investing to take up the slack and keep the Ponzi scheme rolling--and to keep markets climbing.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
