Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
His scaremongering saved me a LOT of money last year!
And had I listened to such scare mongering over the last 8 months my 401K would STILL be down. Instead - because I put my 401K into a "stable" (ie "safe") fund part way through the collapse late last year (preventing some loss) - then jumped back into the market 2 days after the absolute bottom and have ridden it up since then, not only have I recovered all that I lost from late 2007 until late 2008, my 401K is now at an all-time high.
Again, had I listened to such "doom and gloom" that would not be the case - so NOT listening to such "doom and gloom" MADE me a lot of money.
And had I listened to such scare mongering over the last 8 months my 401K would STILL be down. Instead - because I put my 401K into a "stable" (ie "safe") fund part way through the collapse late last year (preventing some loss) - then jumped back into the market 2 days after the absolute bottom and have ridden it up since then, not only have I recovered all that I lost from late 2007 until late 2008, my 401K is now at an all-time high.
Again, had I listened to such "doom and gloom" that would not be the case - so NOT listening to such "doom and gloom" MADE me a lot of money.
Ken
Ah, but since I listened to Schiff in addition to Celente, I moved stuff into commodities and the Aussie dollar late in 2008. While I don't have a lot, the % change was something like 150%. My GDX was up 200%.
Ah, but since I listened to Schiff in addition to Celente, I moved stuff into commodities and the Aussie dollar late in 2008. While I don't have a lot, the % change was something like 150%. My GDX was up 200%.
That's all well and good, but 401K's do not typically give you those kinds of options - and MOST Americans have their investments in such funds.
And had I listened to such scare mongering over the last 8 months my 401K would STILL be down. Instead - because I put my 401K into a "stable" (ie "safe") fund part way through the collapse late last year (preventing some loss) - then jumped back into the market 2 days after the absolute bottom and have ridden it up since then, not only have I recovered all that I lost from late 2007 until late 2008, my 401K is now at an all-time high.
Again, had I listened to such "doom and gloom" that would not be the case - so NOT listening to such "doom and gloom" MADE me a lot of money.
Ken
Good on you, then, but this isn't just about money. If the grid goes down what good will money do you? Seems to me that if Australia is such a good place to park one's money it might be an even better place to park one's ***** when the bottom really drops out. For those who can, rather than sitting around talking smug it would be prudent to make sure your passport is current. When I see leaves rustling on a hot summer afternoon I pack an umbrella. I don't always need it but I used to hear growing up, "better to say, 'here it is!' than 'where is it?!'.
Good on you, then, but this isn't just about money. If the grid goes down what good will money do you? Seems to me that if Australia is such a good place to park one's money it might be an even better place to park one's ***** when the bottom really drops out. For those who can, rather than sitting around talking smug it would be prudent to make sure your passport is current. When I see leaves rustling on a hot summer afternoon I pack an umbrella. I don't always need it but I used to hear growing up, "better to say, 'here it is!' than 'where is it?!'.
H
The grid isn't about to go down - that's more silly "the sky is falling" talk - nothing more than the wet dream of bunch psudo-survivalists. It's not a matter of "being prepared" for the worst - it's a matter of missing out on REAL opportunities because you so focused on some silly far-out scenario that's simply NOT going to happen.
The grid isn't about to go down - that's more silly "the sky is falling" talk - nothing more than the wet dream of bunch psudo-survivalists. It's not a matter of "being prepared" for the worst - it's a matter of missing out on REAL opportunities because you so focused on some silly far-out scenario that's simply NOT going to happen.
Ken
An interesting thought as I read this post. While I'd agree that "the grid going down" is about as likely as the moon colliding with earth tomorrow morning, the fact is it could happen(It has before, eh....). The bottom falling completly out of the U.S. economy could happen, there are any number of absolute disasters that could happen....for those disasters that one is prepared for, that does happen, the person that is prepared, will survive, or at least have had a chance.
For many "disasters" that occur, if you simply have money, that is preparation enough. But the type of "disaster" being discussed here, all the money at your disposal wont do you a bit of good.
As for your very last sentence....I wonder if the folks that made the decision on how many lifeboats to put aboard the Titanic, had a similar mindset as yours?........Everything is a "silly and far out scenario", until it happens.
Last edited by Compression; 10-14-2009 at 01:34 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
