Is it time to vote with your wallet?

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I talked with a stock broker yesterday to see what he recommended I do with what was left of my IRAs. He said that 2 months ago he was recommending that people just ride it out. Now ...show more
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Precious metal and bullets (and hold both) are the only wise investments in this economy.

Cigarettes would also be good, if you can find a black market where you can dump them at a nice profit but still below the impending sin tax increase. :)

In all seriousness, this stimulus will all but kill small business. We have also laid off 4 employees within the past month, and more downsizing is coming. Saddling small business and then throwing out useless incentives such as accelerated depreciation and increased expensing is nothing more than dressing up a pig. Small businesses, by definition, don't have the capital or resources to take advantage of a $250,000 per asset expenditure, even if it is 50% depreciable in the 1st year.

The socialist mantra is that the government control the means of production, and small business drives a free enterprise, so small business must be vanquished in order for the plan to succeed.

All of the "taxing the rich" talk is smoke and mirrors. Anyone who has actually read the stimulus can see that the true bearers of the burden are small businesses. Obama and the socialists hate anything small, so it must be punished.

Buy metals, and hold them if you can. Also, bullets are at a real premium and will rise as the shortages continue. If you have a market to resell ammunition, hunting loads will make you rich as the 2009 seasons approach. Prices are expected to rise as much as 500%, but more realistically they will double or triple.

And metals, well, you know what's happening there.

Asker's rating & comment

5 out of 5
Accurate. I just checked with the hunting store and they're out of most of the ammo I use. I'm on the list for when more comes in.
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Other Answers (13)

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  • Samuel S answered 5 years ago
    I ALWAYS vote with my money--and withhold it and boycott with it--whenever--the feds do stupid things--....
    I plan TO VOTE OUT any senate or house member who voted to support obama's idiocy--

    That's the VOTE that really counts!!
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  • zazen answered 5 years ago
    sadly, your pro's ideas will only deepen any downward cycle we are in. His advice? EVERYONE must sell? No one buys, prices fall like you've never seen if that happens. Pull money from banks? that'd cause a run that would collapse banks. Fire people, sell all stocks & remove all money from the bank. A perfect recipe for a financial catastrophe.
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  • Often Imitated, NEVER Duplicated answered 5 years ago
    Maybe we can vote for "change" next time
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  • TD magnet answered 5 years ago
    To be honest, that view sounds a little extreme. A lot of seasoned professionals are extremley worried because they've never seen anything like this before in their careers. Keeping cash is a bad idea in my opinion because, if you have the right kind of savings, it is insured up to $100,000. Anything more than that you can spread out in different savings or keep in assets. I don't think that EVERY stock should be sold, now should be the time to be investing in low-risk companies that have shown steady growth. I have actually sold some of my portfolio and purchased in things like McDonalds which has made me some money.

    Everyone has different comfort levels but to stimulate the economy it is not the best time to become figurative (or literal) shut-ins and cease all spending and investing. Keep out of high-risk, high-reward, stick with what you know.

    Good luck to you and your family!

    Source(s):

    Accountant
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  • Tina Marie answered 5 years ago
    I spoke with my financial ad visor and he told me to wait because if I pull it out the taxes will eat it up. Soooo, I guess I'm just at his mercy, and he has always been in my best interest.
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  • joevette answered 5 years ago
    Your stock broker sounds like the kind of guy that helped to create the problems we are having now. I do not know about you but in my case I have lost over 50% of my retirement money. If I sale off what I have now I am taking the loss. If I hold on to it I will get some, if not all of it back over time. I am in stocks/ companies that are well diversified and very unlikely to fail long term. As others have mentioned my savings are protected by FDIC so even if I am unable to make timely withdrawals I still have financial stability. I do keep more cash on hand than I did just a few years ago just in case the banks do fail. I will scrape by until I am paid by the FDIC.
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  • Demsmierda answered 5 years ago
    It's very scary. Either way. Frightening.

    Maybe we should All be like Democrats -- Just let the Taxpayers support us, and vote for Bigger Welfare Checks.

    The only worries that Liberals have, is just waiting for their Welfare Check to arrive.
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  • gyt answered 5 years ago
    Since Obama has said that he doesn't care about what the people on Wall Street think, voting this way with your wallet is pointless to get anything across to Obama.

    If you look at the facts, Obama is trying to change our economic system to socialism when 93% of the people are working in this country and 95% are able to pay their mortgages. We are doing all of these bailouts and spending plan for less than 10% of the population.
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  • DRNYU answered 5 years ago
    We already do,your tax dollars go to Acorn.Which pays people to vote democratic.
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  • jdq240 answered 5 years ago
    oh yeah.. I'm going to pull out all my money, put it in a safe, yeah, yeah, and then some crook can come get it all.. yeah, ... sorry dude, those days are gone, if you feel safe stuffing all your money in your mattress, go ahead.. just hope you'll be home all day...
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  • ElNicoli answered 5 years ago
    First of all, if you sell everything, you take all those losses you've had. Right now those losses are just on paper, and if you jump back in when things improve, you'll get less stock for your money.

    If everyone pulled out of the market, it would tank, bottom line. Much of the losses in the market are a result of these kinds of panic moves. His advice on reducing staff wasn't poorly placed. You should slim-line your business right now, especially if your business is vulnerable to market conditions.

    I guess the best advice would be to put all your money in a mattress and stock up your old Cold War bomb shelter with canned food and batteries. Keep your shot gun loaded and hunker down like you did for Y2K. Of course, that didn't come out as bad as expected, but the 'experts' must be right this time.
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  • Mbrchox3 answered 5 years ago
    heeeeellll no ! Voting is so that we can freely state who we want to win. perople will stop voting and they wont make any money !
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  • Gatorfan15 answered 5 years ago
    heck no, why do u have tpo pay to vote?
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