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Obama's Attack On Your 401(k)

Discussion in 'Politics, Elections & Legislation' started by BT-100dc, Mar 1, 2009.

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  1. BT-100dc

    BT-100dc Active Member

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    Obama

    For those of you who have a 401(k) Plan, February, 2009 was the worse drop in the Dow since The Great Depression (Year 1933). You may notice each time either Geitner or Obama would address finanacial-type issues the Dow would shoot (for you shooters) down hundreds of points. The drop in the Dow for February was 12% and 11% for the S&P 500. I believe his attacks on the so-called Wall Streeters are really an attack on you who have investments and retirement accounts. It's creating trickle up poverty. I don't think the people who voted for him (I certainly did not) was thinking that this was the "Change" that Obama was talking about. BT-100dc
     
  2. philk

    philk Member

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    Maybe it`s just me but it seems like they are purposely trying to drive the Dow done almost on a daily basis.
     
  3. Bisi

    Bisi TS Member

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    Every time "dumb as a rock Barack" opens his mouth the Dow goes down another 100 points. 100 points when the Dow was at 13000 wasn't too much but when it is at 7000, ouch.

    Financially independent people have no use for Obama's big government. He wants to drive it down so you will be dependent on him. He wants to be your master.

    Look at all the things Obama talks about free medical, education, etc... The slaves had all those things, medical, housing, food, all provided by the master and all you had to do was do what he said. Prisoners got the same thing.
     
  4. H82MIS

    H82MIS TS Member

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  5. Guard Rail

    Guard Rail TS Member

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    I do not see how he could possibly get anything done. All of his time is devoted to posing for photographs. I once asked one of my Drillers, why do you call him old Stiffy? He replied; You see all of us standing here with shovels? I responded yes I did. All of us are using them except one. He is standing there like a stiff d##k in the wind leaning on his.
     
  6. daddiooo

    daddiooo TS Supporters TS Supporters

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    The stock market is devoid of any emotion. It simply runs on numbers and investors confidence in a sound market. The "tanking" we're all seeing is a direct result of the countries "lack of confidence" in Hussein's "plan" for America.


    When you're deep in debt... you don't correct it by throwing more money at the problem, any more than if you're overweight you double up on your portions to trim down.


    Change is not a strategy any more than hope is a game plan.




    That sound we're all hearing......us circling the drain. Time for a tea party folks we've been silent long enough. This pent up frustration needs an outlet and a voice.
     
  7. crusha

    crusha TS Member

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    Two more years of seeing their neighbors lose their jobs...and Americans will be sick of this charlatan.


    The Government isn't just acting like a drunken sailor...it's acting like an alcoholic sailor who's dissolving cocaine in heroin, injecting it, then saying "My children will blow you to pay for this."


    Every day I watch this...I become more convinced the media is going to have one heckuva job keeping this pretender in office. Americans will tolerate this when they're in pain, if they think it will help...but after two years of seeing it _not_ help...they will throw the towel on him.
     
  8. djpk69

    djpk69 TS Member

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    My IRA is (was) tied to the S&P. I swear (KNOW) it didn't make a PENNY the LAST 2 YEARS !
     
  9. Bocephas

    Bocephas Well-Known Member

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    The stock market has been over inflated for years.

    It's called greed.If you think not,talk to some of the investers Madoff had.

    AIG needs another 30 billion.GM needs more money.Where is it going to end?

    This did not happen in just the last 60 days.

    Our high life style has lead us to this.The bulk of the American people are spoiled high flyers.

    Example-how many vehicles are in your family?How many boats and motors,RVs etc.

    Do you only have one TV in your home?

    I hate to break the news to you people this is not Obamas,or George Bush fault.

    You need to look at the Ivy League Whiz kids on Wall Street buying and selling your stock.

    The party is over,so take an aspirin and get ready for your (Hangover)

    You will see the stock market under 3,000.

    Bocephas
     
  10. perazzitms

    perazzitms TS Member

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    About 10 months ago I took out a loan from my 401k and moved about 70% of the remainder out of mutuals into a bond fund - and caught hell from everybody from my father in law to the company 401k person. Back then they thought I was an idiot - now I look like a f'n genius. I'm down, but only about 8%.

    All I can say is these are scary times. O-bozo and his Axis of Taxes are about to pull off a power grab like nobody's ever seen. Anybody tried to buy handgun ammunition lately? It's practically gone. .223 or 7.62x39 stuff? Same thing. People are arming up and I don't think it becuase they're worried about the price going up - it's already gone up and people are still buying it up like it's going out of style.
     
  11. Brian in Oregon

    Brian in Oregon Well-Known Member

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    I converted all of my 401K to a fixed interest bearing account. Actually made some money last year, and am still making money. Yeah, it's a modest amount, but the key point is I'm not losing any money.<br>
    <br>
    I don't think it will be safe to get back into the stock market until this clown is out of office. Our deficit right now is the largest in our history. That's not the Change! people were voting for.
     
  12. Baron23

    Baron23 Well-Known Member

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    Its true...almost a 1000 points since he came in...of course, I'm also keenly aware of the 6,000 points lost under our last fearless leader.
     
  13. Dednlost

    Dednlost Member

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    Well obamamy will play hell finding my 502k caus I aint got one LOL Unless he wants to dig thru my dirty drawers pile he aint findin my fortune. heheh
     
  14. JBrooks

    JBrooks TS Member

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    "WASHINGTON -- The White House on Sunday downplayed massive deficit spending and President Obama's pledge not to sign legislation laden with billions in earmarks amid Republican criticism that he was recanting on a key campaign promise.

    The administration's top budget official, Peter Orszag, said Obama would sign the $410 billion spending bill despite a campaign pledge that he would reject tailored budget requests that let lawmakers send money to their home states. Orszag said Obama would move ahead and overlook the time-tested tradition that lets officials divert millions at a time to pet projects."

    Just more lies from the "One".
     
  15. BT-100dc

    BT-100dc Active Member

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    Well, another 300 points lost the first business day of March. I don't believe people voted for Obama had this in mind. He has yet to say anything except for Wall Street greed; millions of individual retirement investors are not people like Madoff, they're just everyday people. What does he have against common people? BT-100dc
     
  16. Don Steele

    Don Steele Well-Known Member

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    I believe the people who voted for President Obama had EXACTLY this in mind. The Democrat party has traded in "class warfare" for years. They get more votes from the ill-informed, ignorant, government dependent types and this pathetic handing of our nation's economy just makes more and more folks depend on the government teat.
     
  17. halfmile

    halfmile Well-Known Member

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    The sad part of this is the rank and file workers do not have time to follow the markets. Many of them come in after a day's work too tired to do wnything.

    They trusted those above to help them and many have had their guts pulled out.

    Some of my wife's co workers didn't know what was happening until they got their December statement. Now they are just numb with the shock.

    I may have a case with the Dept of labor regarding a mishandled 401K, it will be interesting to see how that goes.

    HM
     
  18. daddiooo

    daddiooo TS Supporters TS Supporters

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    Halfmile,
    Good luck with your case. We live in an age where nobody is responsible for anything, much less accountable.

    Dave
     
  19. PerazziBigBore

    PerazziBigBore TS Member

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    401K.. in 15 years.. Please deposit $20,000 for the next 3 minutes for a local call.. Once our money is totally devalued..all that will be worth anything will NOT be money.. Land,gold,silver,diamonds yes.. The American dollar.. useless
     
  20. djpk69

    djpk69 TS Member

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    Of ALL the ABOVE.....I like BOCEPHAS' "Take" the BEST. Anyone putting THE BLAME somewhere else ....should look back/ahead. "THIS JUST STARTED WITH OBAMA" I'll just have to go to Snopes.com or Rushlimobama.com and make SURE.The S&P HAS BEEN DOWN FOR THE LAST 3 YEARS (Dem's FAULT).And it MAY go down further,BASED on GLOBAL ECONOMY (Not one single man).
     
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