Black Monday in stock exchanges in Europe and Asia

Holy shit... I did that yesterday.

Just until one of my loans gets paid off in 15 months.

 

Either that or fuel for the fire to stay warm.

 

Do we have a "high interest savings account" any more?

 

Not really. I opened up one with ING in December at 2.47% yield, but now they're offering 1.65%. That was quick.

Still a hundred times higher than what I get with my bank savings account, though. So I'll take it.

 

Put in a grand a 1.67% and in a year, you still dont have enough interest to pay for night at the bar to drown your sorrows for your 401k in the tank.

 

I'm waiting for the dead cat to bounce so I can start plowing my cash into stocks. Looks like I may be waiting for a while.

 

Eventually, there will be a rally . . . one that actually lasts more than a couple of days . . . but it's highly-unlikely we'll see a parabolic bottom. They're damn rare.
Any sustained rally figures to be followed by a test of the bottoms. Can't see there's a hurry to barge in, but it's your money.

 

We have ING too. When my wife opened hers years ago, it was paying almost 4%.

 

The Fed has fucked savers so bad - in their intent to protect failed banks and failed "homeowners", they have kept the interest rates at historic lows - basically nothing.... which fucks the responsible people, the ones trying to save.

That "high interest" account? After taxes, and inflation, you've lost money in that account..

You're doing a heck of a job, Benny.
You're doing a heck of a job, Timmy.
You did a heck of a job, Henry.

 

More of a metaphor than anything else. People who say with certainty where the bottom is going to be are blowing smoke. But there will be a point where signs start to point upward, and the market will begin to reflect that. That's the point I'd like to get in. But who knows, it could be a year or two. I'm looking long, so if the market gyrates some, I won't sweat it.