Fellow Investors: The Markets Ain't Going to Skyrocket just because we have a Great President

[Mike 03]

The seeds of this global meltdown go back to the 90s, and the origin is in large part our compulsive consumption of cheap goods made in other countries, as well as our willingness to incur enormous debt rather than save.

It's just dumb to think that this crisis is about to reverse because we have Obama in office.

Or, hopefully I'm wrong, but my advice is don't get your hopes up, and don't jump into this market. There are a lot of cheerleaders out there trying to encourage people to invest now, but I think that this is very hazardous, very stupid advice.

Call me sentimental, I do care about my fellow DU'ers, and there's no reason I can see to get excited about the stock market at this point. Don't get fooled: be safe, be cautious, and be sensible. I can't help it--I cringe when I see these "jump into the market" or "things are about to get much better" threads. They are irresponsible. Every single time DUers have posted these threads, I've said "Watch Out," and the market has tested new bottoms.

Just be patient. Please.

[kirby]

1. I concur...

It took us a long time to get into this mess. A dot com bubble during the last of the Clinton years and 8 years of Bush disaster. It will take quite a while for things to recover. Personally, I believe we have not seen the worst yet. Our country has a much worse foundation today. We are less educated, manufacture less, and have fewer resources... That is not a winning formula for a turnaround.

[gratuitous]

2. Yeah, there's a LOT of backfilling to do

The good news, and I hope there is some, is that we might finally be shutting off the spigots to nowhere, pouring Treasury dollars into bottomless pits that neither give us a return nor produce something new. Tax dollars spent in the country will hire workers who will in turn spend their salaries in the country, providing jobs to salespeople, who will also live and spend their money in this country. Dollars spent on military expenses in Iraq and Afghanistan don't do much of anything in this country.

I predict that most Americans will be quite happy to pay their taxes when they see road crews out filling potholes and resurfacing streets, new modern schools being built, and some of the other local community investments that make life better for everyone, rather than emptying the Treasury into a few overstuffed pockets and hoping that those billionaires eventually tire of having so much money.

[JeanGrey]

3. Oh if I were young and still working I'd be investing the CRAP

out of this market. You bet.

[Kip Humphrey]

4. Oh, OK, then. I'll dust off my old predictions...

Dow: 4538

Things will get better for awhile. Then, things will get a whole lot worse.