C
Chamba
A person who saved and now is liquid enough to take advantage of such unthinkable deals in this weak economy.
such as?
such as?
Is anyone here "Cash Rich" ?
- Thread starter hunt4genetics
- Start date
C
Chamba
God, your cheery!
I hope I'm wrong...
btw here's a suggestion - learn to use your and you're as well as there and their correctly.
I hope I'm wrong...
btw here's a suggestion - learn to use your and you're as well as there and their correctly.
well i am glad to see i am not the only one with eyes to see and ears to hear... if i had more people that think like you reguarding this at my side we could get shit done and help people, but alas i am just one man. most don't want to/won't wake up so it remains the same til we are herded like cattle to the slaughter.
"BAH! BAH BAH BAAH!!!!!"-warned the wise old sheep
eh? what's that he's saying? "speak up old timer we can't understand you, after all we're just sheep."-replied the masses to the words of wisdom from those who watched and those who knew.
EvilSkuzzi
New member
Im dyslexic, fucking sue me!
Never mind...
Anyone that has money would be a fool not to take advantage of some of the opportunities out there right now. Someone with business savvy and some $$$ could clean up. Reminds me of that saying "It takes money to make money".
Mad Logistics
Member
Thanks hunt4genetics.
This is a great time to buy if you have the cash. In my community a house that remained unsold at $500,000 was sold last month for $176,000. That's crazy! people who pinched their pennies for decades are reaping the rewards. When and if the economy blows up in another 20-30 years, I hope to cash in big time!
peace
peace
MMAJAY
Member
So true. If you have cash now is the time to take a risk. My best friend is very wealthy and he is buying up precious metals like a mo fo. He has a whole warehouse full of aluminum that he payed 40 cent a pound and its climbing. I think gold jumped to the 1 grand an oz as well. He bought a shit load of gold stocks way back. I keep asking him when he is going to cash in and he keeps saying it will peak but not yet. He also bought thousands of tons of scrap metal as well. I guess a broke mo fo like me will stay broke.lolNever mind...
Anyone that has money would be a fool not to take advantage of some of the opportunities out there right now. Someone with business savvy and some $$$ could clean up. Reminds me of that saying "It takes money to make money".
EvilSkuzzi
New member
Yeah, money comes to money!
As for things peaking, gold already has. It peaked around Feb this year. This recession is almost over now. If I had any precious metal stocks id dump the lot. 6 months from now gold will be much lower as ppl start going back to equities and currency.
Most of the major economies are out of recession or will be out by the end of the year. That means inflation is going to be next years big thing. That gets tackled with interest rate rises, hence currency becomes more attractive.
Equities will start to rise and we'll slowly start to see thing creep back up.
As for things peaking, gold already has. It peaked around Feb this year. This recession is almost over now. If I had any precious metal stocks id dump the lot. 6 months from now gold will be much lower as ppl start going back to equities and currency.
Most of the major economies are out of recession or will be out by the end of the year. That means inflation is going to be next years big thing. That gets tackled with interest rate rises, hence currency becomes more attractive.
Equities will start to rise and we'll slowly start to see thing creep back up.
I know a guy like that here locally, when silver took a dive in the 70's, he bought as much as he could afford, it went up shortly thereafter, and he made a fortune. Your buddy is going to be obscenely wealthy!
xlatit
Member
What's "cash rich"? Cars, house, land, & most farm equip. all paid for. No CC debt and I got just under 50k saved and invested. Not too bad for a young hard working guy.
couldn't help myself heh
C
Chamba
God, your cheery!
and
Im dyslexic, fucking sue me!
don't you mean "Dog, your cheery"?
ha!
and
Im dyslexic, fucking sue me!
don't you mean "Dog, your cheery"?
ha!
ItsAllOver
Devil's Advocate
So those that think we've hit bottom and are now on the upswing, with gold getting set to drop, could you explain why you've reached these conclusions? I know I'm asking a question with a long answer, but I think you've got a burden of proof on you for statements like those...
I mean, given the fact that billions more are set to be printed (remember, TARP money has not been much spent yet, so the impact on the value of the dollar is yet to change) and we continue to take on other irresponsible and well... not well thought out economic policies (or are they thought out but with nefarious motives), I don't have much reason to believe we've bottomed.
As far as I can tell, we have only so far suffered the initial shock of the mortgage markets tanking, and this would be it if Obama would stop fucking with the economy and damn near everything else. But... he will not stop what he's doing, because government doing something, whether or not it's effective, gets them elected time and time again. People in this country are breathtakingly obtuse, and will never put 2+2 together and notice that it's indeed government intervention that is causing these problems, and that it can't solve them by repeating the actions that got us into it in the first place. There is always evidence that government has a lot to do with our problems, but these facts are simply brushed under the table.
Gov't incentivized shitty lending practices with the introduction of Fannie Mae and Freddie Mac there to back up the lenders in case of (and the lenders surely knew it would come to it) mortgage default. Not to mention FDIC having the same impact, and hey while we're at it, the Federal Reserve does the same thing. Why is the government the lender of last resort? And don't give me some garbage story, I know monetary history, and I don't want to hear about how we are better off with the government spreading the failure around to those that were prudent. This is the nitty gritty.
Gov't is propping up these very companies that can be counted on to act a fool again next time they are given a chance. And they are being given a chance, on the dime of the populace. What happened to capitalism? I thought companies that didn't perform well enough to remain solvent were allowed to fail... Nope, we get to own a share of them. Lucky citizens.
Cash for clunkers... I think we can all agree on this one. Might sound good, right? Free money after all. But where does the loot come from? (Answer this yourself. Where does government come up with any money? There are only about 3 answers. Homework!) Also, why are we trashing perfectly good cars? My boy just told me yesterday that he and his coworkers at a dealership were instructed to pour some shit into the engines of these vehicles that gummed them up until they are useless. Yea, the gas mileage is better on these new whips (in some cases, only what 6 MPG better), but these people often owned the cars free and clear, now the vast majority are IN DEBT because of their new purchase. It's like going to the mall and buying shit just because it's on sale. Not exactly good practice, especially within the context of a purchase that is often the second largest that a person might make.
I'm going to stop here.
Half of my wealth is in gold (about to break $1000/oz again? We'll see...) and the rest is in assets of different sorts. I try to keep the cash on hand low. Good luck to you all in this. We are in for difficult times, I think.
Anyone seen the movie Money Masters? It's on Google video I believe.
Edit: Link here
http://video.google.com/videoplay?d...04&ei=yr2hSsqYEYjMqgK-zLn6BA&q=money+masters#
A long one, but well worth watching. If you're short on time, but have about 45 minutes, how about Money as Debt... The link is in my sig!
Adios, amigos
I mean, given the fact that billions more are set to be printed (remember, TARP money has not been much spent yet, so the impact on the value of the dollar is yet to change) and we continue to take on other irresponsible and well... not well thought out economic policies (or are they thought out but with nefarious motives), I don't have much reason to believe we've bottomed.
As far as I can tell, we have only so far suffered the initial shock of the mortgage markets tanking, and this would be it if Obama would stop fucking with the economy and damn near everything else. But... he will not stop what he's doing, because government doing something, whether or not it's effective, gets them elected time and time again. People in this country are breathtakingly obtuse, and will never put 2+2 together and notice that it's indeed government intervention that is causing these problems, and that it can't solve them by repeating the actions that got us into it in the first place. There is always evidence that government has a lot to do with our problems, but these facts are simply brushed under the table.
Gov't incentivized shitty lending practices with the introduction of Fannie Mae and Freddie Mac there to back up the lenders in case of (and the lenders surely knew it would come to it) mortgage default. Not to mention FDIC having the same impact, and hey while we're at it, the Federal Reserve does the same thing. Why is the government the lender of last resort? And don't give me some garbage story, I know monetary history, and I don't want to hear about how we are better off with the government spreading the failure around to those that were prudent. This is the nitty gritty.
Gov't is propping up these very companies that can be counted on to act a fool again next time they are given a chance. And they are being given a chance, on the dime of the populace. What happened to capitalism? I thought companies that didn't perform well enough to remain solvent were allowed to fail... Nope, we get to own a share of them. Lucky citizens.
Cash for clunkers... I think we can all agree on this one. Might sound good, right? Free money after all. But where does the loot come from? (Answer this yourself. Where does government come up with any money? There are only about 3 answers. Homework!) Also, why are we trashing perfectly good cars? My boy just told me yesterday that he and his coworkers at a dealership were instructed to pour some shit into the engines of these vehicles that gummed them up until they are useless. Yea, the gas mileage is better on these new whips (in some cases, only what 6 MPG better), but these people often owned the cars free and clear, now the vast majority are IN DEBT because of their new purchase. It's like going to the mall and buying shit just because it's on sale. Not exactly good practice, especially within the context of a purchase that is often the second largest that a person might make.
I'm going to stop here.
Half of my wealth is in gold (about to break $1000/oz again? We'll see...) and the rest is in assets of different sorts. I try to keep the cash on hand low. Good luck to you all in this. We are in for difficult times, I think.
Anyone seen the movie Money Masters? It's on Google video I believe.
Edit: Link here
http://video.google.com/videoplay?d...04&ei=yr2hSsqYEYjMqgK-zLn6BA&q=money+masters#
A long one, but well worth watching. If you're short on time, but have about 45 minutes, how about Money as Debt... The link is in my sig!
Adios, amigos
oldbongwater
Member
It ain't over..til it's over..and it's far from over
It ain't over..til it's over..and it's far from over
Listen to the man..i hate being negative and pessimistic and all...But this is far from being over..and i would not be surprised if gold kept moving up to $1500 oz or even more. The shit has not even hit the fan yet..we have months/years of wasteful and foolish spending looming on the horizon.The final numbers can not even be calculated yet..but it is in the TRILLIONS..many TRILLIONS..plus INTEREST..do you know how much a trillion dollars is? A million is a thousand x a thousand..a Billion is a thousand Million..a Trillion is a thousand Billion..it's impossible to imagine this amount..let's just say it is an extreme amount of money. That WE have to pay for=not good. Gold will continue to increase in value..cash will continue to devalue. YOU are in the middle. God help us.
It ain't over..til it's over..and it's far from over
Listen to the man..i hate being negative and pessimistic and all...But this is far from being over..and i would not be surprised if gold kept moving up to $1500 oz or even more. The shit has not even hit the fan yet..we have months/years of wasteful and foolish spending looming on the horizon.The final numbers can not even be calculated yet..but it is in the TRILLIONS..many TRILLIONS..plus INTEREST..do you know how much a trillion dollars is? A million is a thousand x a thousand..a Billion is a thousand Million..a Trillion is a thousand Billion..it's impossible to imagine this amount..let's just say it is an extreme amount of money. That WE have to pay for=not good. Gold will continue to increase in value..cash will continue to devalue. YOU are in the middle. God help us.
ItsAllOver
Devil's Advocate
Oh boy. God? Only we can help ourselves, oldbongwater.
Another disctraction...
Another disctraction...
I don't like to brag about money but
I'm close to inheriting a small fortune.
ItsAllOver
Devil's Advocate
LOL I hate this but I love this.
Congrats
Congrats
