Posted on 04/12/2020 11:17:20 AM PDT by fightin kentuckian
I'm like most Freepers, I work, still have a job for now, and I save money to a 401k, IRA. My money is still right where it is when this current crash started, but a lot less of it.
The US debt is out of control and with these corona virus mega spending bills there is no way that the US will ever come out of debt. One day, the US economy will in fact crash from this mounting debt, it's inevitable given we are not deviating from our path. And when it all comes down it will make the virus crash look like a mild correction.
When that day comes the market will go to zero and banks will NOT give us our money. Everyone will default on their debts in order to hoard what little cash they have. Inflation will skyrocket, dogs and cats living together, Armageddon.
My question is what are you doing with your money to get ready for that day. What investments are you using? What do you recommend?
This is a serious thread so lets dispense with the lame jokes about me giving you my money. I'm asking on this forum specifically because a lot of Freepers are extremely smart, connected, and in the know about a variety of topics.
He is Risen! Happy Easter!
We should have done that as soon as Donald Trump threw his hat into the Presidential ring. We'd be millionaires by now.
We are now doing economic distancing.
Banks overlended, thanks to the Fed's credit (money) expansion and discount rate offered banks, to borrow newly-printed money.
If banks simply "called in loans" as people started using their checking and savings accounts balances to tied things over, there would be no need for these trillions in bailouts.
The folks with loans would have to liquidate their assets. If the assets HAD BEEN valued accurately, and people with some liquidity (cash) could buy up those assets at good prices, none of the hysteria about "making sure banks have enough cash" and bailing out banks with bad creditors would have ever occurred.
TLDR: Thanks, Banksters & Fed.
there’s a lot of privately owned businesses- more of what i was thinking of- But yeah, i guess the wealthy are breezing through the lock-down just fine- o n their yachts- so likely won’t be an increase i n those clients-
What’s that $600 car worth?
which would be worth a small fortune today in good shape-
The economy will not crash but slowly get devalued. You might want to understand how money policy actually work....
“I cashed out of 401k and IRA after 2008 crash. never again.”
OK, so...… What did you do with the money? Did you lose any in this last crash?
I would imagine—depending on age and amounts—a lot of it went for penalties and taxes.
Not physical cash. This scampendic will give them the excuse to do away with cash. Just went to a store that not accepting it.
LOL- Corectomundo-
Argentina about to default on their bonds for the NINTH time. Ask them.
that car is worth at least $30k today.
Land, owned outright, and livestock would be a good start.
>> I didn’t have the stomach for the “just hold” strategy, so I remodeled my house and built an addition. <<
So if a financial emergency comes up you will sell part of your home?
I invested after 2008 and made a killing. The Dow was 11,200 or so in 2008. It is now at 23,000+/-. A $10K investment in the Dow in 2008 would now be worth $40K. Conservatively invested mind you.
You never own the real estate...
A thinking man, successful, if they don't find you.
We have a winner, but the "judges" don't realize it.
That car was a cutting edge luxury at the time. But I believe cars were selling for well under $1000 far later than that.
you should have built a home distillery with some of that.
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