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Am I unpatriotic to secretly hope for another downturn in the economy? By downturn I mean GDP goes negative and home prices fall and unemployment rises by 1-2%. Not forever, just for 1-2 years. Ok, call me unpatriotic
I don't know about other people, but I do very well in recessions. I save during boom years then go on a spending sprea during bad times. Everything from automobiles to equities was so cheap right after the recession. My networth has surged since 2008. And dating is a breeze, as my competition is all penniless.
I'm a contrarian. Does anyone else think this way?
Am I unpatriotic to secretly hope for another downturn in the economy? By downturn I mean GDP goes negative and home prices fall and unemployment rises by 1-2%. Not forever, just for 1-2 years. Ok, call me unpatriotic
I don't know about other people, but I do very well in recessions. I save during boom years then go on a spending sprea during bad times. Everything from automobiles to equities was so cheap right after the recession. My networth has surged since 2008. And dating is a breeze, as my competition is all penniless.
I'm a contrarian. Does anyone else think this way?
I am not hoping for another downturn, but I do think it would be good overall if house prices continue to fall. It is better overall for people to spend less money every month on housing. For the average person looking at a home as their largest investment means too much of their savings/investing is sunk into one single asset. That is a problem.
Well, there would be a good chance of loosing my job... I've got enough saved to be fine but I'm certainly not hopping for it. I would go nuts sitting in my apartment all day...
I hope the Op is saving a bunch because the future liabilities to pay for the borrowing in thsi recession will eventually effect everyone directly or indirectly in coming years.Its like spending on a crdit card then getting the bill later.
Well I have to admit that I wish I had bought some stocks in 2008. like ford motor for $1.00 etc etc.
bill
The market is "up" because the available money supply was artificially increased and then more money went into the market. That does not make the stocks worth more inherently, since the value of the dollar as a result of printing more money or "quantitive easing" has decreased.
It's all about commodities now. Do not let the artifical and Federal Reserve induced increase in the stock market give you the wrong impression.
Stocks are not worth more simply because more money artificially entered the system with which to purchase those stocks with. Adjusted for inflation due to more money being printed, they are essentially worth the same as 2008 or maybe even less. Time will tell since the purchasing power of the dollar is being worn away.
Am I unpatriotic to secretly hope for another downturn in the economy? By downturn I mean GDP goes negative and home prices fall and unemployment rises by 1-2%. Not forever, just for 1-2 years. Ok, call me unpatriotic
I don't know about other people, but I do very well in recessions. I save during boom years then go on a spending sprea during bad times. Everything from automobiles to equities was so cheap right after the recession. My networth has surged since 2008. And dating is a breeze, as my competition is all penniless.
I'm a contrarian. Does anyone else think this way?
At the rate we're going the next recession we have will not just be a recession, but Great Depression 2. I think it's almost inevitable at this point...it's just a question of time. And believe me, you will not wish for what's coming even if I'm only half right.
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