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.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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