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Old 10-21-2010, 11:48 PM
 
655 posts, read 1,642,362 times
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Quote:
Originally Posted by kevcrawford View Post
Yeah...you do that and tell me how it works out. Inflation kills everyone. Especially when it crashes overnight.

I hope you're not taking your own advice.

Actually I don't think that kind of inflation is imminent, if it was the lenders would be pushing interest rates up in the market to prevent the loss of value I described.

If you could guarentee me the kind of inflation you are talking about I absolutely would take my advice. But you can't and the risk that you are wrong is way too high for me to actually do it.
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Old 10-22-2010, 05:17 AM
 
Location: San Antonio
4,149 posts, read 9,117,949 times
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When you print more and more money, which they're doing, inflation happens. The government is keeping rates artificially low to try and prevent it, but they can't hold it off forever. I deal with a lot of incredibly successful investment bankers every day that have a ton of money, and while everyone else is buying gold and cheap stocks, they're selling. The successful usually do the opposite of what the masses are doing, and that's the reason they're successful when most fail. The wealthy in this country are liquidating. Debt is going to kill people.
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Old 10-22-2010, 06:16 AM
 
3,668 posts, read 5,740,063 times
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Quote:
Originally Posted by Lee W. View Post
I think the majority of people would just cut back on buying clothes or buy the less expensive clothes.
Well this was already the less expensive clothes so cutting back will of course be the only option left. I am sure die hard recessionistas will cut back on other things but not clothes but for everyone else this means less clothes.

Quote:
Originally Posted by meisha210 View Post
I once bought a pair of pants that had something that looked like dried up snot in one of the pockets and I didn't find out about it until after I took them home and washed them. Yes, the gooey stuff was still in the pocket after I washed it.
Thrift shop horror stories might become more common if new clothes gets too expensive.

BTW for those wondering a recessionista is according to Urban Dictionary 'a person who is able to stick to a tight budget while still managing to dress stylishly.'

Urban Dictionary: recessionista
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Old 10-22-2010, 06:48 AM
 
655 posts, read 1,642,362 times
Reputation: 447
Quote:
Originally Posted by kevcrawford View Post
When you print more and more money, which they're doing, inflation happens. The government is keeping rates artificially low to try and prevent it, but they can't hold it off forever. I deal with a lot of incredibly successful investment bankers every day that have a ton of money, and while everyone else is buying gold and cheap stocks, they're selling. The successful usually do the opposite of what the masses are doing, and that's the reason they're successful when most fail. The wealthy in this country are liquidating. Debt is going to kill people.
So what are they doing with the cash from the assets they are selling? Sitting on cash is one of the worst things you can do in an inflationary environment. Unless they are really worried about a deflationary crash like the great depression, then selling gold and stocks and holding cash makes perfect sense.
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Old 10-22-2010, 08:18 AM
 
25,574 posts, read 23,782,363 times
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As a thrift store shopper, I have to admit that Kohls has some really good stuff on their clearance racks all the time. Thats probably the only 'new clothes' I do buy.
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Old 10-22-2010, 11:58 AM
 
Location: grooving in the city
7,371 posts, read 5,685,239 times
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Quote:
Originally Posted by Merovee View Post
Well this was already the less expensive clothes so cutting back will of course be the only option left. I am sure die hard recessionistas will cut back on other things but not clothes but for everyone else this means less clothes.



Thrift shop horror stories might become more common if new clothes gets too expensive.

BTW for those wondering a recessionista is according to Urban Dictionary 'a person who is able to stick to a tight budget while still managing to dress stylishly.'

Urban Dictionary: recessionista
I agree. I would cut back on purchases, but I would not cut back on quality.. I would also prefer to buy made in Canada or the USA. I think that would help our economy alot. Clothing prices in the day were much higher before global outsourcing. I had less clothes, but I think they were much better quality and the jobs stayed at home
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Old 10-22-2010, 11:08 PM
 
Location: San Antonio
4,149 posts, read 9,117,949 times
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Quote:
Originally Posted by smitty12 View Post
So what are they doing with the cash from the assets they are selling? Sitting on cash is one of the worst things you can do in an inflationary environment. Unless they are really worried about a deflationary crash like the great depression, then selling gold and stocks and holding cash makes perfect sense.
Massive inflation is always followed by a massive deflation. They're holding cash. Some are buying large pieces of land and ranches to just hold.
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Old 10-22-2010, 11:41 PM
Status: "happy again, no longer catless! t...." (set 11 days ago)
 
Location: Cushing OK
14,426 posts, read 16,706,332 times
Reputation: 16435
Quote:
Originally Posted by 115db View Post
As a thrift store shopper, I have to admit that Kohls has some really good stuff on their clearance racks all the time. Thats probably the only 'new clothes' I do buy.
Considering my food cost has doubled in the last two years (and isn't considered in the cost of living) I will go looking for a nice warm coat at thrift stores this year. Actually my nice warm wool one which also soaks up water like a wet sponge, came from one so maybe I'll be lucky twice. I expect that thrift stores are doing a booming busniess right now and will continue to do even better. "new" clothes are something on the "other" list of things to buy when all the needs and other wants are fufilled.
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Old 10-23-2010, 07:56 AM
 
Location: FLG/PHX/MKE
7,289 posts, read 12,887,155 times
Reputation: 11529
That sounds like the perfect way to spike sales immediately before the biggest shopping season of the year.
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Old 10-28-2010, 07:19 PM
 
5 posts, read 5,292 times
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Quote:
Originally Posted by Lee W. View Post
I think the majority of people would just cut back on buying clothes or buy the less expensive clothes.
The perfect time to buy really good quality clothes is during clearance time (generally when the season is over).

In the designer world, designers release their collections once a year. At the end of the season, current year collections go ON SALE while previous year collections go on clearance. If you're not really into fashion and being current, and you're more into getting high quality clothes, you'll find that shopping clearance items can be a great deal.

Another thing, some styles are so successful that designers continue the style in the next year.

All I'm saying is look for clearance sales. Many online stores and not only have them.
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