US losing confidence vote as investors flee

The Telegraph ^ | 3/17/2008 | Ambrose Evans-Pritchard

[B-Chan]

Alcohol wasn’t illegal during the majority of the Great Depression. Prohibition ended on 23 March, 1933, with the signing of the Cullen-Harrison Act by President Franklin D. Roosevelt. The 18th Amendment was repealed on 5 December of that same year.

[IDontLikeToPayTaxes]

I've seen a LOT of these "end of the world", "Great Depression", "the sky is falling" financial threads on Free Republic since I started reading here in 1998. Eventually several posters would chime in that it's "not that bad" and we'll be just fine.

This is the first thread I've seen in 10 years that is unanimous that the economy is in real trouble.

On another note, do any Freeper financial experts have any investment suggestions in a climate like this?

[a_chronic_whiner]

Spam and rice is good. I usually add some eggs for better consistency, throw in whatever veggies you like. A rice cooker always helps too.

[bruinbirdman]

"This is the first thread I've seen in 10 years that is unanimous that the economy is in real trouble."

Perhaps a few replies on the thread dealing with real estate opportunities, bonds, interest rates, and flight to safety were missed.

yitbos

[xc1427]

You are right about interest rates...and in the 1970’s we had THIRTY YEAR CD’s paying eighteen percent...ah, the good old days.

[durasell]

It’s starting to sink in that something bad is happening. So far it’s very abstract for the majority of Americans (except for the gas prices and perhaps foreclosed homes) but it will get very real soon.

[xc1427]

Normally, it takes six to nine months for the deals to come in. Now, as far as the auto industry, new model season comes earlier each year...wait until this summer...that’s when the bargains will really be noticed.

[cardinal4]

depends on how y ou look at it. might be bargain prices to jump in and buy too. Have to research, but might be terrific time to buy up rather than sell.

Thats one way of looking at it..

[BJungNan]

I’m no longer worried about another Depression. We’re already there. The fear is gone, now it’s just a matter of dealing with the consequences.

We readied for the consequences two years ago when we set on a course to become debt free. In June we will be there.

Also, we changed our buying habbits, especially for food. We started buying in lots when food items are on sale (non-perishables). That has saved heaps of money.

[Junior_G]

No kidding. The Cayman Islands is the 5th largest holder of US debt? That’s just lovely.

[dennisw]

Make that brown rice. White rice is dishonest and wasteful and not what you want for depression era meals. Brown rice means discipline and good health. What people will need as the shiite hits the fan

[dennisw]

IOW you are saying Americans are owning US debt via Cayman Island accounts. Some foreigners too for sure

[Greysard]

Yes. Buy gold & silver (Everbank offers those accounts.) Gold will stay a valid currency regardless of rise and (mostly) fall of fiat monies. Euro and other paper will not survive the crash of the dollar; the only difference will be in the exact count of sacks of bills you need to buy a loaf of bread.

But, as a disclaimer, you’d be insane to blindly follow any investment advice seen on the Internet.

[bruinbirdman]

"Buy gold & silver (Everbank offers those accounts.) Gold will stay a valid currency"

Oil just hit 111.48 on NYMEX. Buy oil.

yitbos

[familyop]

Brown rice is good. But after “the shiite hits the fan,” there will be plenty. Well...if the work and pay for war/protection are ginned-up early enough. ;-)

[dennisw]

Just keep my rice advice in mind for later

[familyop]

"Oil just hit 111.48 on NYMEX. Buy oil."

...through long term investment strategies, perhaps? :-) It has gone beyond the talk and efforts to push it down.

[familyop]

"Just keep my rice advice in mind for later"

I'll do that before our Government finds a way to fuel vehicles with Arkansas rice. ;-) ...and maybe learn to speak Mandarin or something.

[yorkie]

Same here, BJ. When coffee was on sale, for less than half price, I bought plenty. When flour, yeast, sugar, oil, and butter was on sale, I bought plenty. (Froze the butter.)

Right now, Walgreen’s has corned beef, roast beef, ham and (ugh) spam on sale for $2. Time to stock up on protein sales. (I have canned chicken and tuna crammed into the pantry.)