Posted on 02/27/2007 1:29:53 PM PST by bobjam
It seems to me that every change in the economy brings opportunity. So then, if the economy collapses (recession or depression), what opportunities are there? Open for discussion....
ammo
If you have money buy up assets at depressed values. The key is to have money during the depression. If you don't then you are in a very tough position as jobs and business opportunities are scarce.
REPO MAN.
save all the money you can in good times, spend it in bad times
Wait a few days, see if there are further losses and then put in a buy order. I'm limiting my international exposure because they're more volatile and liquid, although they can also provide huge returns.
But I'm older and an early retiree so I am not interested in aggressive investing.
BTW, 2 friends of ours started using Motley Fool's advice ($200/year for the advice) and made 40-something percent last year. They have a good track record.
Make bras or get into entertainment.
Buy Low Sell High
In a recession people and companies repair what they have in Capital Equipment, and in Surge...buying new stuff and equipment to keep up is the rule...always move like a boxer to take advantage of every cycle...
I knew a family that benefited from an ancestor who wisely saved his cash...and when the Great Depression hit, he bought land...and lots of it and at cheap prices.
Invent a car that runs on Muslim outrage.
Smuggle whiskey across the Canadian border like Joe did. Maybe it will still work.
NEW YORK (AP) -- The Dow Jones industrial average is down more than 400 points today. The cause follows...........
Democrats will take control of the House of Representatives and Senate for the first time since the 1994 Republican revolution....!!!!!!!!!!!
Don't bank on a "depression"
By having cash to buy things that will be sold for far less that their true value from people with no common sense to plan ahead, which they in turn sell back to the morons at an inflated price.
Next question?
TIRES. seriously. Or medical field.
the business will slow down, but never go away.
We are so far from a depression that is laughable.
If you are the market for "toys" keep an eye on eBay. If you want land or real estate, be ready to jump with a decent down payment.
If 'one' were to "get rich in a depression" I would assume that 'one' would also become a target.
I believe what you want is wealth.
"If you have money buy up assets at depressed values. The key is to have money during the depression."
Thats about it, cash would be king once more and your visa card would not be worth the plastic it is printed on. The ones with the most unsecured debt would be hammered into the ground.
"How does one get rich in a depression?"
bootlegging to get a stash, than enlarge that with inside trading in stocl market.. just ask Joseph Kennedy
Proverbs 10:22
The blessing of the LORD, it maketh rich, and he addeth no sorrow with it.
;-)
Buy a bar in a decent location.
Think about it. When times are good....people go drink.
When times are bad....people go drink.
All you have to do is change the name of the bar to meet the theme of the economy and you are set.
"things" being houses and land...
Yes, buy real estate at depressed prices - you can't lose long term.
Funeral homes, toilet paper and trailer parks
Mortician.
Joe did those things during the 20s Bull market before the depression.
And, to be fair, insider trading was actually legal during that era, although bootlegging was not.
I think he dabbled in loan sharking as well.
There's a lot to be said for inherited wealth. Look at all the morons who would be homeless if their grandfathers hadn't left them a pile. The Kennedys, for instance, or Jean-Pierre kerry, or Algore, etc, etc.
Bootleg whiskey.
anti depressants. stockpile.
Well, I can give you some personal examples from my Grandpa who was a man of 25 during The Great Depression. these things didn't immediately make him rich (that came later) BUT his ATTITUDE to do whatever needed to be done was what got him through and set him up for success in later life.
He had a wife, a 2 year old son (my Dad) his younger brother and his wife's father to support. Some of the things he did, and they did as a family:
Grandpa took ANY job, no matter how menial. I remember him telling me he had a large paper route that he delivered via bike or walked and pulled a wagon. He drove cab. He drove a bus. He had a car, so he rented out his car for others to use and for gas money, or he drove them places. He worked at a butcher shop doing some pretty gross things, but he was given the meat scraps to feed the family. He worked for a grocer, so same perks as at the butcher. He repaired roofs, windows, anything to do with your house. He pored cement. He kept a few chickens for eggs. He was a fishing guide. He refinished & repaired furniture that he found at the curb. I also remember him saying his deceased MIL ran a boarding house so they had a stockpile of furniture to sell for cash, too. He planted trees in the Conservation Corps.
So, until he was about 30, he did whatever needed to be done, which set him up as a great employee for businesses when there were jobs again. And no one starved or really lacked for anything. One of his sources of pride during that time was the fact that they never went "on the dole" and that he could provide for his family.
Probably being poor to begin with is easier for people in a Depression because you're already used to "making do." I can't see the clueless consumers of today faring half as well if things really go into the dumper.
But we'll be able to easily spot them; they'll be the ones jumping out of windows, LOL!
Bootleg Whiskey!
2. real estate
3. real estate
Liquor store.
Write a book on how to survive a depression. :-)
Joe Kennedy was buying people's portfolios for pennies on the dollar. That's how they really made their money.
Become a Democrat Politician?
by bottling and selling your tears
I'm growing apples as we type.
Tad dated but still valid points: http://www.gold-eagle.com/editorials_04/laird121104.html
WHOA !! You'd better watch out......The 'Big Mo*' might get p^ssed.
Nam Vet
* May the fleas of 1000 camels infest his shorts
Rob drug dealers. The police will be to busy and understaffed during a depression. Street Dealers are generally to stupid to defend themselves in any good way, and usually carry a few grand around. Rob a few in ski mask, then plow the money back into real estate.
Sound advice. Oh, and you'll need a big gun.
open a pawnshop in methland.
Ok, put on your thinking cap and think where your information about depression comes from? Do you think the media lied a little back then? Was there an agenda? I hate to say it but too much of our picture of the world comes from the movies.
It was bad and it was real but it was not what you think it was. A third were still making money, a third were breaking even and a third were going broke..........
Draw cartoons. Walt Disney started building his fortune during the Depression.
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