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October 2008: Worst Month in 21 Years

TSP in October 2009

Adj. Officer
DHS
Tue Nov 4, 2008 9:07 AM

Post Reply

If Obama is elected President, he will have been in his tenth month as President in October 2009. It will be interesting to see what shape the TSP is in at that time. With the various proposals for "reforming" the TSP being offered by the Socialists in Congress (AKA Democrats) do not be surprised if TSP is even further down! For those Obamaphiles who are part of the TSP, please remember that you voted for him. If I am wrong, I will apologize in early November, 2009.

Re: TSP in October 2009

Program Analyst
US ARMY
Tue Nov 4, 2008 9:36 AM
You can keep you apology. We are moving on. Just sit back and enjoy! Go Obama!

Re: TSP in October 2009

accountant, retired
DOE, Albuquerque
Tue Nov 4, 2008 9:40 AM
Calling Liberals socialist tells me more about you than Congress. I bet you're white male midlde aged and wear a brown shirt. You are a right wing extreemest. Look at the stock market 10 months after "Socialist" FDR. The market was down 90% under Hoover and 36% under Bush the 2nd. THE SOCIALIST COULDN"T DO WORSE!!

Re: TSP in October 2009

manager
DoD
Tue Nov 4, 2008 9:57 AM
A recent article in the WSJ highlighted that part of the reason for the stock market's terrible performance is fear of the Obama plan for America. The market may have already priced in a fear of how he will work to remove productive elements of our economy through redistribution, higher taxes (including those he hasn't discussed or admitted to yet) and the left-wing social programs about to be introduced or enhanced. "Nothing reveals Mr. Obama's visceral hostility to business more than the constant urging of our best and brightest to desert the productive private sector ("greed") and go into public service like politics or community organizing (i.e., organizing people to press government for more handouts)....The silver lining in all this is that the market has already "discounted" an Obama win, so if that happens you won't wake up on Nov. 5 to find your remaining savings down the drain. If the unexpected happens, you may be in for a pleasant surprise."

Re: TSP in October 2009

Analyst
dod
Tue Nov 4, 2008 5:09 PM
Retired Accountant, if you're going to place blame for the recent market dive you better learn the facts.

The mortage meltdown which led to this dive was brought about by government interference (a main principle of liberalism) in the mortgage industry in the 1990s. The Bush administration warned congress repeatedly that these conditions were leading to a crisis and they better get control of it and head it off. Despite all these warnings by the Bush Administration, Congress failed to act. Therefore we have the current economic crisis.

btw - Bush isn't running for office anyway so your upper case letter filled rant is out of step anyway.

Re: TSP in October 2009

Union Representative
U. S. Postal Service
Wed Nov 5, 2008 8:44 AM
Hopefully, we do have a return of the "Democrats." I would like to reap once again the gain in the markets and TSP under the Clinton years-----Record market gains, a balanced budget, and $1.19 gasoline......sounds like the sky is falling to me.

Re: TSP in October 2009

IT Spec
DoD
Wed Nov 5, 2008 5:07 PM
Union Rep - the economic good times in the 90s were because of the technology boom, not Clinton.

That technology bubble burst late in the Clinton administration, the administration after Clinton inherited that downturn and eventually turned it up. The climb continued until early 2007. At that point it turned down and eventually went way down because of the mortgage meltdown (see the post by dod analyst as to what caused this).

It would be nice to have lower gas prices. If you hadn't noticed, gas prices have been plummeting over the last few weeks. Hopefully that will continue during the Obama administration.

Re: TSP in October 2009

Retired (and working a new career)
DoD
Wed Nov 5, 2008 5:12 PM
Re: TSP in October 2009
Union Rep, if you want to return to the gains that were seen during the Clinton years you will have to vote in a Republican Congress as he had. Since Congress controls the budget (it’s one of those pesky Constitution details) you’re going to need people who support economic growth, not people who just want to move the money from the people who worked for it to the people who voted for them.

Personal TSP Up for 2008

engineer
Air Force
Tue Nov 4, 2008 10:27 AM

Post Reply

Discounting my contributions, my TSP account is up 3.5% on just moving in and out of funds. In October, I became convinced C, S, and I would move up with a favorable fed rate cut. I moved half my money into those funds and made 2% in three days, then moved all back into G. I am not always successful, I was down at the end of the first quarter.

If you want to stop losing your real money in TSP, learn from folks like William O'Neil, "Investor's Business Daily" or Edwards and Magee, "Technical Analysis of Stock Trends" - ninth edition with W.H.C. Bassetti, or Hank Pruden's work on Richard Wyckoff trading method from the 1930's. These are not quacks like so many out there.

Historically, democrats have been better for the market in the first year after a presidential election than republicans. The international community looks more favorably on Obama meaning favorable movement in the global markets. Sadly, Obama will make things worse for our nation.

Repubican Right Wing Exteemest

Accountant, Retired, GS 14
DOE, Albuquerque
Tue Nov 4, 2008 10:30 AM

Post Reply

I read with interest the Republican comments. The party took an exteem turn to the right in 1980. The Republican party wants a flat tax that only benefits those making over $500,000 according to a recent GAO report. They call progressive income tax "Socialist" which was originally proposed in this country by Republican Teddy Roosevelt in 1902. They now oppopse minimum wage, unemployment insurance, help for the poor, social security and medicare , to name a few items and have oppossed every civil rights issue that has occurred in the last three decades. They seem not to understand that the social welfare state creates a solid middle class. All developed contries have a social welfare state. Look at the rest of the world outside of North America, Western Europe, Austrailia, and New Zeeland. The Republicans have moved to the 19th century while the rest of the developed word moves forward. REMEMBER THE DINOSAURS, REPUBLICANS. YOU ARE HEADED FOR EXTINCTION IF YOU DON'T CHANGE.

Re: Repubican Right Wing Exteemest

Retired (and working a new career)
DoD
Tue Nov 4, 2008 4:21 PM
Your logic is as faulty as your spelling.

Republican, not Repubican
Extremist, not Extremest
extreme, not exteem
oppose, not oppopse or oppossed
countries, not contries
Australia, not Austrailia
…. and Medicare should be capitalized

However, let’s set that aside and get past your generalizations and ask you a specific question. You say Republicans oppose minimum wage. Well, tell us, exactly what the minimum wage should be. $10 and hour, $20, and hour, why not $100 an hour? To the penny, tell us, what is the right number?

Stop hiding behind illogical generalizations and name calling and tell us exactly where you stand on the issue.

Re: Repubican Right Wing Exteemest

IT Spec
DoD
Tue Nov 4, 2008 5:14 PM
uhh Retired Accountant, most of us left childish name calling behind when we left Junior High. I urge you to join the crowd.

Additionally, a few typos are understandable but your spelling is so bad that your post would would flunk a basic grammar school spelling exam. That in itself calls your judgement and basic intellect into question.

Re: Repubican Right Wing Exteemest

Accountant, Retired, GS 14
DOE, Albuquerque
Tue Nov 4, 2008 7:48 PM
According to the Democatic party, minimum wage should be enough for a person to live on just above the poverty line. The BLS can give you that number. John McCain voted against the minimum wage 40 times and the Republicans in the house and senate have voted against it since 1936. I like your spelling corrections. are you a GS7 secretary???

Re: Repubican Right Wing Exteemest

Supervisory IT Specialist
DON
Wed Nov 5, 2008 7:36 AM
I don't think the fed gov't should be setting minimum wage. Let the market set it.

Re: Repubican Right Wing Exteemest

Retired (and working a new career)
DoD
Wed Nov 5, 2008 5:02 PM
That wasn’t an answer. That was a sound bite from the Democrat play book. Anyone can say “just enough, but not too much”. It is as meaningless as saying “change” a thousand times without every defining the change.

So, let me ask again and frame it in terms an accountant understands. The answer has a dollar sign in the front, a number, a decimal point, and two more numbers.

It’s very easy to criticize without taking a stand or offering a solution. America just validated that principle. You have criticized without basis or solution. You have called people names. You have even disparaged our hard working secretaries. So stop being evasive, stop name calling, and please don’t disparage people whose grade was lower than yours and just tell us what your solution is. What should the minimum wage be?

Incidentally, if you are going to be part of the Democratic party, you might want to spell it differently. It’s definitely not the “Democatic party”.

Re: Repubican Right Wing Exteemest

Just Saying....
US Forest Service
Wed Nov 5, 2008 6:09 PM
According to the Department of Labor, the current federal minimum wage is $6.55 an hour (just since July, which was the first increase in a decade), which works out to about $13,500 a year, before FICA, taxes, and maybe other deductions.

According to Health and Human services, the poverty threshold for a single person in the 48 contiguous states is $10,400. I haven't figured out what the deductions would be but it seems to me $13,500/year would be skating just above the poverty threshold. And if that were the salary for a family.... well, way below the threshold

Just saying -- there are ways to calculate a fair minimum wage. BTW, if you ever get a chance, watch the "30 Days" episode (http://www.fxnetworks.com/shows/originals/30days/) where Morgan Spurlock and his (then) fiancée live on minimum wage for 30 days. It's a real eye opener.

TSP in October 2009

federal employee
federal agency
Tue Nov 4, 2008 10:31 AM

Post Reply

You can't really believe all that drivel about Obama being a socialist. What are your sources of information, biased inaccurate political ads and crackerjack boxes? "Liberal" does not equal "socialist." And even if it did, take a look at supposed "socialist" countries such as the Scandinavian countries - better educated, better health, happier people - what's so bad about that?

Re: TSP in October 2009

Diversity Manager
DOL
Tue Nov 4, 2008 5:29 PM
their culture is monolithic so comparing us to them is apples and collards

Looking Forward...

Retired CIO
BLM, USFS
Tue Nov 4, 2008 11:22 AM

Post Reply

I'm thankful this election is just about over and we can move on towards unifying our country again. I don't believe the name calling by either side of this debate is constructive. I do believe that each candidate has his own proposal for how to deal with the issues before us. We will soon know which path we will follow. It is my prayer and hope that we will unite as Americans and do what we can to make things better than they currently are.

As far are the economy goes, I believe there is plenty of blame to go around. There will be difficult days a head, I believe, that will require some sacrifice by all of us. I think it behooves us all to stay involved, be supportive, and pray for wisdom for our leaders as they seek to lead us out of this mess we have gotten ourselves into.

401k

nrc
atom smasher
Tue Nov 4, 2008 2:47 PM

Post Reply

Well there is already talk that if Obama becomes president there will be a push to have all 401ks managed by the US Government (socialism) and a guarenteed 3% per year. Realizing how inefficient and inept the US Government really is do we want the US Government managing our 401ks - I don't think so.

Re: 401k

Accountant, Retired, GS 14
DOE, Albuquerque
Wed Nov 5, 2008 8:01 AM
is the government anymore worse than wall street? Greed is better? I think not

Re: 401k

Curious
US Forest Service
Wed Nov 5, 2008 5:56 PM
"Well there is already talk that if Obama becomes president there will be a push to have all 401ks managed by the US Government (socialism) and a guarenteed 3% per year."

What talk? Where? I'd like to hear/see it. Something substantiated -- not just a blog entry.

Re: 401k

Retired
Retired
Thu Nov 6, 2008 10:34 PM
Where is the talk?

Just read FedSmith, he had a whole article on it.

October 2008: Worst Month in 21 Years

Auditor
DODIG
Tue Nov 4, 2008 9:19 PM

Post Reply

Now is the time to exercise discipline and not panic. I've lost 40% in I Fund....so I will have to save more, spend less, and work longer.

Cheers!

Total Comments: 33
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