How does one get rich in a depression?

2/27/2007 | bobjam

[bobjam]

It seems to me that every change in the economy brings opportunity. So then, if the economy collapses (recession or depression), what opportunities are there? Open for discussion....

[Cyclopean Squid]

by bottling and selling your tears

[Cagey]

I'm growing apples as we type.

[vietvet67]

Tad dated but still valid points: http://www.gold-eagle.com/editorials_04/laird121104.html

[Beagle8U]

""things" being houses and land... "

That is always good but the main thing is to know the true value of anything and having the cash on hand to buy it if it is being sold too cheap.

What is something really worth? What will someone sell it for? Do I have cash on hand to buy things being sold for far less than the true value I can sell it for?

Knowing the true value of anything, and having the cash to to benefit when you are offered the opportunities is the key.

First learn the real value that you can sell it for, you can start small and the cash will come.

[Nam Vet]

Invent a car that runs on Muslim outrage.

WHOA !! You'd better watch out......The 'Big Mo*' might get p^ssed.

Nam Vet

* May the fleas of 1000 camels infest his shorts

[Domicile of Doom]

Rob drug dealers. The police will be to busy and understaffed during a depression. Street Dealers are generally to stupid to defend themselves in any good way, and usually carry a few grand around. Rob a few in ski mask, then plow the money back into real estate.

Sound advice. Oh, and you'll need a big gun.

[martin_fierro]

[Rakkasan1]

open a pawnshop in methland.

[PeterPrinciple]

Ok, put on your thinking cap and think where your information about depression comes from? Do you think the media lied a little back then? Was there an agenda? I hate to say it but too much of our picture of the world comes from the movies.

It was bad and it was real but it was not what you think it was. A third were still making money, a third were breaking even and a third were going broke..........

[Sterm26]

Draw cartoons. Walt Disney started building his fortune during the Depression.

[HeadOn]

I agree. My Grandfather worked for the Post Office in the '30's so he had a paycheck. He bought cotton at a nickel a bale, and sold it some years later when prices went back up. Even despite a fire that claimed a portion of it, he made pretty good money.

[BigTex5]

Scratch offs!

[woofie]

Write a book of advice on how to get rich, that will sell like crazy

[bobjam]

Thank you for that story. It goes to show that there is no substitute to responsibility and a strong work ethic (unless of course your grandfather made millions off of bootlegging and insider trading).

[bobjam]

It appears that there is a growing consensus on this site that real estate is the key.

I wish to thank everyone for this discussion (no I do not believe we are headed into depression, but yes I do fear there will be some rough times in the next two decades)

[EGPWS]

It seems to me that every change in the economy brings opportunity. So then, if the economy collapses (recession or depression), what opportunities are there?

For those who have to ask, none.....

[BlueNgold]

Change your name to Kennedy, contact relatives in Ireland, sell whiskey, use profits to buy stocks and businesses at absurdly low prices.

[EGPWS]

Draw cartoons. Walt Disney started building his fortune during the Depression.

Walt Disney had a partner in his endeavors however. LSD...

[BlueNgold]

Saying that you think there will be some rough times over the next two decades is like predicting that the sun may in fact rise in the east in the near term future. Have you considered a career as a traveling psychic?

;-)

[Eva]

My husband's grandfather sold candles to the Catholic church in Philadelphia. He had the contract for the whole city.