Posted on 05/29/2021 4:12:46 AM PDT by Kaslin
At the end of the Second World War, America was the world’s sole superpower: we alone had the atom bomb. Although America lost more than 400,000 military personnel in the Big One, her civilian population had remained unscathed, unlike other nations whose civilians had suffered about as much as their military. Upon returning, surviving military formed families with those stateside civilians, and produced the Baby Boom. These returning soldiers also contributed to what has been called “The Golden Age of American Capitalism.”
Unlike other powers, America’s cities and factories hadn’t been destroyed. And we used those intact factories to manufacture most of the stuff we needed, like cars, apparel, electronics, and so on. We also enjoyed a high level of job mobility; if one was bored in one’s job, one could find another one. A competitive materialism took hold, as Americans consumed and acquired to “keep up with the Joneses.”
The halcyon days extended from 1950 to about 1973, when our collective confidence began to sag with the onset of a recession. And the OPEC oil embargo introduced the nation to fuel shortages, lines at gas stations, and soaring prices. By contrast, a gallon of petrol during the gasoline “price wars” of the 1960s might set one back a whopping 27.9 cents. To cut down on consumption, Americans began to observe the new national speed limit of 55 MPH and buy small imports.
The salient thing about 1973 for many Americans is that it was the high point for their postwar fortunes and dreams. Since that year, jobs, wages, opportunity, and hope for the great American middle class have declined.
This year marks a significant golden anniversary: In 1971, America went off the gold standard. The almighty U.S. dollar would no longer be backed by gold.
(Excerpt) Read more at americanthinker.com ...
“a whopping 27.9 cents”
The typical price increase of most things made in the USA is about ten-fold since the mid-1960s. A gallon of gas was $2.79 yesterday at the station nearest my house.
I have a few questions that I’m sure many others have right now.
1. Where do we invest any $$$ now?
I liquidated stocks recently as I know beyond any doubt that the market is highly inflated and will crash.
2. Are US Government securities really secure?
3. Will there be a new currency issued and only a limited amount of US dollars be allowed to convert?
4. Bitcoin and crypto currencies appear to be a giant ponzi scheme?
5. I try to be an optimist, but I handled many bankruptcies in the early 1980’s when interest rates skyrocketed and housing starts, construction and auto sales crashed. This I expect by the end of this year.
6. Foreign investment more secure? Where?
7. I’m not worried about survival and prepping. Grew up poor, still have a farm and many neighbors who farm with horses. (Amish) plus, I’m old enough that if I fie, that’s ok too. What is the best way to prepare? Spiritually, I know..
And I don’t see gold and silver as holding value as you can’t eat it.
IMO
Fully invested in stocks. The market has crashed & recovered before. In the past investors have recovered in a few years other than companies that failed. Moral is pick companies that turn a good profit and diversify with ETF that cover large number of individual companies.
There is no better inflation hedge than the market, not gold which is manipulated, nor real estate, nor gold coins, nor works of art both of which are not easily sold incrementally. As inflation kicks in the market may stall but it will be less overvalued.
The rest of the world is in no better shape than the USA although we are in sore straits.
If you believe hyperinflation is coming then load up on fixed rates mortgages and loans and buy as much property as you can.
The warning is I’ve been reading articles like this one for as long as I’ve been alive. Maybe this time they are right, but for the last 50 years a diversified portfolio of US stocks has always been the best return.
Jesus said that every day has enough trouble of its own. So do not worry about what you will eat, or what you will drink, or what you will wear.
......
It seems like the media and others are trying to constantly get us to worry, and be fearful.
I know people who were worried about Covid, and now they are worried about the jab-fection-jection. I mean, they are so worried that they can’t decide which thing they should be worried about.
Hope that helps.
Yes, of course a diversified portfolio of food, water, and ordnance is sound for anyone, but eschewing financial assets over say gold would have left you less affluent over the long haul.
If these fear monger really hate fiat currency, why do they accept payment in....fiat currency?
Very good advice.
Stocks will crash and rise whenever central banks and, political cronies, and corporations want them too. They are secure because they will ALWAYS be bailed out. We are not a capitalist system and with stocks you may as well get your money back. I use to think rentals were good and had a few. Sold them before Kung Flu and governments basically took over all rentals with eviction moratoriums. I have seen people living rent free for over a year and the government is still saying they need to be bailed out so rentals suck. Land here is gobbled up within minutes of hitting the market with californicators buying site unseen with cash. And beside that my first property was seized by the city for a park. Gold and silver collect dust.
The ONLY thing that has ever paid off for me is equipment, technology, and education for my business.
I remember that time. As first those "compacts" were laughed at by Big Auto, then when import sales took off, they screamed for a tariff "to save the auto industry". Congress obligingly voted for a $600 tariff on them.
Ford, I distinctly remember, immediately jacked their prices up $500. When someone in Congress asked them why, given their complaint, they replied "competitive pricing".
“Stocks will crash and rise whenever central banks and, political cronies, and corporations want them too. They are secure because they will ALWAYS be bailed out”
Really?
On September 23, 1929 the Dow Jones Index peaked at 381.
Then came the Crash.
The DJI wouldn’t reach 381 again until 1954.
Different times.
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