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, Thu, 8 Jul 2010 16:38:39
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We're kind of in uncharted territory here and I don't think anyone quite knows how things are going to go down. Is it going to be a recession, a depression, or Mad Max at Thunderdome? It's hard to prepare if you don't know what you're preparing for and each scenario would require a different approach. And then there's the question of what we're ABLE to do. Even if you think a cabin in the woods with stock piles of amo and freeze dried food is the way to go, most of us just don't have the ability to do something like that. I think we're in some real sh*t here and there are no easy answers. We tried the "no big government" approach during the last depression and it lasted ten years. It wasn't until World War II (and the government spending that went with it) that we got out of it. We had eight years of constant tax cuts under the previous administration (unfortunately not accompanied by spending cuts) and the economy still tanked. While some of the attempts to stimulate the economy have worked to a degree, with the ballooning debt that's becoming less and less of an option. I don't know that we could cut government enough to make a real difference and adding unemployed government workers would certainly make things even worse. Whatever the case I don't see tax cuts in our immediate future. So I think this is going to be around for some time to come and you're going to have to buck and weave and find your "own road" so to speak. I'd certainly want to have some green cash on hand (some at home, some in a safely deposit box). I can't see gold being a bad investment, but I wouldn't put everything in it. As for the stock market it's anyone's guess, but if you look at what happened during the depression I'd be real wary. To be honest, if I were a lot younger I'd be learning how to speak Chinese.
posted by 208.72.4...
, Thu, 8 Jul 2010 16:38:39, Sat, 10 Jul 2010 09:38:16
, Sat, 10 Jul 2010 10:45:44, Sat, 10 Jul 2010 09:35:22, Sat, 10 Jul 2010 13:31:41
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