Posted on 11/13/2012 7:54:41 PM PST by ilovesarah2012
And so it begins.
If they’re selling, who is buying?
The Chinese?
They own our debt, might as well buy our assets too.
Not sure I completely buy that, yes there are some, but also the DOW hasn’t completely dropped significantly yet, and a DOW 9000 is all I ever expected. Will more aggressive selling happen before Dec 31 is the big mystery.
I’m by no means wealthy but I went to cash shortly before the election based on technicals.
As a protest to wealth confiscation, we all should do two things: go to cash or metals and reduce spending. We need to shrink the enconomy in excess of taxation. This is our only power. Deflation is our weapon. Make them make an offer to us for a change.
Just the beginning
A tax increase of from 15% to 40%. That overseas money is never coming back.
This was the reason why George Lucas sold the Star Wars universe to Disney a few weeks ago.
Do it like Indians (in India); after you’re paid, buy what you need and buy gold with the rest. It is the only way for them to protect their earnings against the inflation of the rupee. This doesn’t work if you pay any noticeable “fees” for the exchanges...
Obama’s gov’t will rake in some money this year from the sales, but will be hurtin’ fer certain in 2013 when the rate hikes on capital gains kick-in, (provided the Marxist gets his way on the tax rate increases).
Going to cash may not work if your cash is still in a bank that will be investing. I’d say for long-term to beat inflation some necessity stocks will be good performers, a rebalanced portfolio is what I am looking at. But you’ve got it right, we should minimize many taxes paid so there’s limited funding for spending.
Not only, NOT coming back, MORE is pouring out.
If I had money, I would be.
This wont make news until the Dow really dives. Otherwise no one will notice/.
I bet we will be seeing an increase in the number of American citizens giving up their citizenship and leaving the country for greener pastures.
The underground or “informal” economy will thrive. Smuggling money out like an Argentine. Know any mules or good techniques?
Going to cash isn’t any better. Worse, probably, for whereas they can tax “unearned” income they have a monopoly over the issuance of legal tender. Whether they know it or not, that’ll be how they pay their bills; it’ll have to be. There aren’t enough rich people, and the rich aren’t rich enough. There isn’t enough money anywhere in the country. Heck, you could confiscate 100% of money made by all, citizen or whatever, in a year and still not pay off the debt. As for borrowing, no one will invest in the US government just because it is the US government forever.
No, inflation is the only way. That won’t ultimately work, either, but in the meantime what else is there? Which is why we should run like Achilles away from cash.
We went over the cliff on Nov 7.
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