Posted on 11/14/2008 11:51:19 PM PST by 2ndDivisionVet
in a survival situation you do what you have to do. Morality doesn’t enter into it on wall street, if I’m in a bind I’m not going to lose sleep over screwing them over.
He’s a nutcase.
bump for later
“He’s a nutcase.”
I second your assessment.
He rants with no logic or facts to back him up and gives people very bad advice.
People who stop paying mortgages or loans will have their credit totally destroyed, which not only impacts their ability to get credit later, but it hurts their ability to get jobs — in many jobs they do a credit check routinely before hiring someone. A bad credti check can make people unemployable for responsible jobs. Not a good thing in a recession, when there is serious competition for the few jobs available.
I watched it all happen in Texas in the 1980’s.
I do think he is wrong about the price of oil, I looked at it saying around $60.
If anyone doesn’t recommend the real constant value maker (guns and ammo) they aren’t serious. They’re just being PC.
The best investment now is in real owned ammo and guns. Period. The rest is all paper value.
A well kept gun won’t go down in value anymore than the bond market.
Most of oil was speculation and hysteria. It’s real value is around 15 bucks, so I’d expect a full drop to 25-30 easily.
However, another terrorist attack or hand-waving nonsense situation that’s totally unrelated to real supply/demand could make it go to 300.
Oil price is entirely emotionally based. And that changes with the feelings of the market. Few months ago 200 and up was the limit, now it’s how low can it go.
It’s a filthy, dirty, rotten system that holds too much power.
Exactly, most companies do credit and background checks before hiring. They do credit checks when you rent an apartment, too. I guess his plan is ok if you plan on living homeless and jobless for the next 7 years. And they idea that you’ll be able to buy another house in a couple of years with crappy credit is ludicrous.
That’s funny you say that, we were just talking about gun sales on another thread.
It’s funny, I never thought of it as a financial commodity until recently.
I heard some dufus on one of those public broadcasting radio stations, the other day, lamenting the fact that no one knows what kind of home loan they could honestly qualify for. What a crock! When my husband and I bought our first two homes, and when I went to real estate school, there was a strict formula determining what size loan for which a family could qualify. I'm certain every banker and real estate agent who has been in the business more than 10 years still remembers that formula!
Well, and also, he doesn’t really offer much in the way of “How to survive the Great Depression”. It’s basically, “don’t pay your mortgage”. Well, duh! If we’re in a depression, I suspect most of us won’t be able to do so. Great suggestion!!
Now, how to not only survive & prosper in a depressive environment, that would be interesting to read about. This charlatan clearly won’t be producing anything useful to read along that vein.
The writer also neglects the fact that a bad credit rating can preclude RENTING property, as well. Most property managers will not even consider a rental contract if you have a poor credit rating.
Um, the “real value” is whatever we are willing to pay for it.
bump for later evaluation and consideration.
In a sense, yes. If someone on ebay pays $500000000 for my cat 1 day, and the next day she got 10 cents..
The problem is when the market is manipulated like oil is. It’s NOT a free market. It takes a huge swing to bring it back to reality. The ‘real value’ of oil is very very low, since it’s very common and near worthless on its own.
There’s a huge market setup that can fail however, which it just did.. They price collapsed. Hopefully people can look through and see that the ‘real value’ of oil is very low indeed.
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