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wes_allen
Dec 24, 2008, 6:54 PM
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Registered: Mar 29, 2002
Posts: 549
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Hey, if you have a little xmas/end of the year bonus/etc cash, right now is a great time to add some used photo gear. As someone trying to sell a couple extra lenses, I have been watching prices fall like crazy over the last couple weeks. Bodies and lenses for great prices, etc. Not sure about ebay, but http://www.fredmiranda.com/forum/board/10 has some pretty sweet deals.
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pico23
Dec 25, 2008, 12:35 AM
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Registered: Mar 14, 2003
Posts: 2378
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If you have cash, job security, and desire to spend money you can really get some deals. My brother is a civil servant (with good job security), just got a big raise and is loving this (to a point), he is on a buying spree completely oblivious to the world around him!
Of course, I don't expect it to get better, job losses will not stop or regain for at least a quarter or two, maybe longer. Housing prices are still plummeting (thus, credit is still going down), and the credit markets still aren't lending like that $700 billion bailout promised. Instead they gave bonuses, and paid out dividends!!
Either way, post Christmas expect to see a lot of stuff from private sellers, as well as major retailers. Taking 75 cents on the dollar is better than taking nothing and I really think after the Christmas season a lot of places are going to file bankruptcy and close out stock!
I've had a lens for sale for over a month. Finally a guy traded me (pending) a 17-28mm Fisheye. I figured if I can't have the cash, I'd rather have a lens I will have some fun with. But I'm certain last year when I cleaned out alot of my unused gear and it sold quickly, this lens would have been gone in a few days!!
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Alphaboth
Dec 25, 2008, 2:12 AM
Post #3 of 9
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Registered: Apr 2, 2008
Posts: 116
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Climbing?
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rockforlife
Dec 26, 2008, 1:53 AM
Post #4 of 9
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Registered: May 14, 2002
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Alphaboth wrote: Climbing?
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Alphaboth
Dec 26, 2008, 6:42 AM
Post #5 of 9
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Registered: Apr 2, 2008
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My point exactly, i though this was RockClimbing.com not photography.com.
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blondgecko
Moderator
Dec 26, 2008, 7:12 AM
Post #6 of 9
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Registered: Jul 2, 2004
Posts: 7666
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In case you haven't noticed, you're in the "Climbing Photography" subsection of the forum. Give it a rest, hey?
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Alphaboth
Dec 26, 2008, 5:30 PM
Post #7 of 9
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Registered: Apr 2, 2008
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oh, my bad
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blondgecko
Moderator
Dec 26, 2008, 7:49 PM
Post #8 of 9
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Registered: Jul 2, 2004
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No problemo. 
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guangzhou
Jan 2, 2009, 11:33 PM
Post #9 of 9
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Registered: Sep 27, 2004
Posts: 3389
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pico23 wrote: If you have cash, job security, and desire to spend money you can really get some deals. My brother is a civil servant (with good job security), just got a big raise and is loving this (to a point), he is on a buying spree completely oblivious to the world around him! Of course, I don't expect it to get better, job losses will not stop or regain for at least a quarter or two, maybe longer. Housing prices are still plummeting (thus, credit is still going down), and the credit markets still aren't lending like that $700 billion bailout promised. Instead they gave bonuses, and paid out dividends!! Either way, post Christmas expect to see a lot of stuff from private sellers, as well as major retailers. Taking 75 cents on the dollar is better than taking nothing and I really think after the Christmas season a lot of places are going to file bankruptcy and close out stock! I've had a lens for sale for over a month. Finally a guy traded me (pending) a 17-28mm Fisheye. I figured if I can't have the cash, I'd rather have a lens I will have some fun with. But I'm certain last year when I cleaned out alot of my unused gear and it sold quickly, this lens would have been gone in a few days!!
I am bargain shopping too, just not in stores but on the stock market. Many great stock are very affordable right now and they will make their come back. I am predicting six years, but I can wait, so most of my spare cash is now in stocks.
This summer I also plan on buying a house. Found some nice place in New Hampshire, near North Conway, for well under $80,000. Found a nice place for 40,000, but need to have a professional take abetter look. Also found a fourplex for 200,000 that is fully rented already. The rent collected would more then cover the mortgage.
As for not giving out credit, my bank just added another 5000.00 to my credit card. I am pre-approved for a home loan to 200,000 with interest rate ridiculously low. I've also transferred my emergency saving in Bank CD's that offer 5%.
As for companies paying out dividends, paying salaries, and taking care of business, that is what will restimulate the economy more. Business are starting to get their loans again. Paying stock holders means people will start buying stocks again instead of keeping the money under their mattress. The stock market has much greater impact on the economy then the individual shopper trying for a personal loan.
Instead of shopping locally, consider buying some long term stocks: My picks for the next couple of months.
AOB - American Oriental Bio.
CMED - China Medical.
Both are down now, but with sterling track records. Both are Chinese stocks sold on the NY Stock Exchange and the NASDC respectively. China has been laying infa structure to market it's medical services to the world. While Americans are heading to Thailand, most people have noticed China offer the same medical care with glorious facilities for roughly the same price. Quick treatment and major dental, go to Thailand, long term issues like transplant, go to China. Both countries offer doctors trained in the USA and Europe.
Altria (MO) owned by Philips Morris and has a nice dividend too. Strong supporters of the new tobacco legislation too. Should the legislation get approved, they they will have the U.S. tobacco market cornered.
Annaly Capital Management (NYL) A mortgage stock actually, but looks good with the current crisis. Hard to believe anything related to mortgages can look good.
PORTFOLIO RECOVERY ASCOCIATES: a repo company. I am stretching here, but I think they will do well with a recession. I hate to do it, but this stock would be making money off of peoples bad financial decision.
I am also considering a look at Netflix, dollar tree, and Dollar general. I do know these normally do well when the economy turns down and people try to stretch their dollars. NetFlix is new, but people will be staying home more, watching movies on the couch and eating frozen foods for dinner.
With people losing so much work, Devry online education might be a stock worth investigating too. A couple other online education companies are traded too, but haven't research them much yet.
My personal picks for 2009
Eman
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