Posted on 10/18/2010 8:28:25 AM PDT by WebFocus
When easy money from Alan Greenspan's Fed caused the dot-com bubble to first inflate and then burst . . .
If "easy money" is the underlying cause of the currency crisis, then why didn't we see the same decline of the U.S. dollar and the same run-up in the price of gold and other commodities during the "easy money" period of the late 1990s described in this item from the article?
Truth be told, Charlie Munger is far smarter and wealthier than I am.
But methinks it’s best to heed the warnings of people like Schiff, Rodgers, and Faber.
“... Charlie Munger, who lists to the right, counterbalancing Buffet’s leftist leanings....”
####
Munger would have to bear staunchly and heavily to the right to counterbalance Buffet’s elitist Communism.
“Leanings”, my asz.
My advice, (which is free and worth every penny), would be for those with a lot of gold to sell NOW, before the bottom drops out. Then take that money and buy up as much bargain basement quality real estate as you can. Anybody agree?
RE: Then take that money and buy up as much bargain basement quality real estate as you can. Anybody agree?
There are those who are arguing that the Real Estate market is not going to bottom FOR YEARS !
At the rate the government is moving (e.g., printing money, going into debt), we are repeating the same mistakes that Japan made in the early 90’s resulting in their LOST DECADE.
At the rate we’re going, I’m not sure if we can assume that Real Estate will continue to perform the way it did the past decade prior to the subprime meltdown.
Look at this FR thread for instance :
http://www.freerepublic.com/focus/news/2609369/posts?page=27#27
TITLE : 17 Years Later, A Japanese Homeowner Sells His Home For A Third Of What He Paid (Coming to America?)
people need to stop quoting Peter Schiff, he is wrong so much, it aint funny!
Schiff is an IDIOT!!!
WHAT THE TEA PARTY IS NOT TELLING YOU ABOUT PETER SCHIFF
Peter Schiff at the 2008 libertarian Convention, saying that libertarians must insult GOP members to show they are not like them, and that Libertarians must INFILTRATE the GOP and run as GOP members in order to win
http://www.youtube.com/watch?v=3ncLTFoTFa8&playnext_from=TL&videos=gKm7t4j9Wgc
Why do the Ron Paul guys support gay marriage?
http://www.queerty.com/ron-paul-on-gay-marriage-20071210/
http://www.schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Schiffs own website endorses Adam Kokesh, the anti-war traitor who also tried to tell people he was a Republican, all after leading anti-war marches across the WORLD!
SCHIFF himself admits he believes the Iraq War is a QUAGMIRE in 2009!!
http://www.freespeechmonster.com/?p=103
Schiff has said this many times
http://peterschiffsays.com/defense.htm
Aug 7, 2009, Iraq is a quagmire
http://www.youtube.com/watch?v=P9t741ewbGA
Schiff blamed Iraq on bankers? Not on Saddam?
http://www.youtube.com/watch?v=zo81QDSuixk
What the Tea Parties are not telling you about Peter Schiff:
Libertarians need to infiltrate the GOP
http://belowthebeltway.com/2009/06/02/peter-schiff-libertarians-need-to-infliltrate-the-gop/
http://www.facebook.com/note.php?note_id=110955225375
http://www.campaignforliberty.com/blog.php?view=19285
http://www.godlikeproductions.com/forum1/message808505/pg1
http://answers.yahoo.com/question/index?qid=20090707200009AAzSQfB
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
http://ameriborn.com/shifty/
Peter Schiff repeating talking points of the lunatic left, listen yourself. He says in 2009 that Iraq is a QUAGMIRE when we already won!! He blames the war on bankers and whoever, and not a word about blaming it on terrorists! listen yourself, Schiff repeats left wing talking points to his radio audience about the Iraq war!
http://www.youtube.com/watch?v=zo81QDSuixk
Peter Schiff has made open statements that are quite like the statements of the anti-war leftists, to include the OTHER Ron Paul endorsed candidates Rand Paul and Adam Kokesh
http://www.google.com/search?hl=en&source=hp&q=schiff+%2B+isolationist&aq=f&aqi=g10&aql=&oq=&gs_rfai=
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4GGIC_enUS220US220&q=peter+schiff+isolationist
Peter Schiff is pro-choice on abortion
http://www.google.com/search?num=20&hl=en&newwindow=1&rlz=1T4GGIC_enUS220US220&q=Peter+schiff+%2B+abortion&aq=f&aqi=g-c1&aql=&oq=&gs_rfai=
SCHIFFS OWN WEBSITE CONTAINS AN ENDORSEMENT FOR KOKESH WHERE KOKESH IS NAMED AS AN ANTI-WAR PROTESTER
http://schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Adam Kokesh
Adam Kokesh is best known as an Iraq War veteran who returned opposed to the war and was a keynote speaker at Ron Pauls Rally for the Republic that competed with the Republican National Convention in the summer of 2008.
Peter Schiff is pro-choice on abortion
http://www.google.com/search?num=20&hl=en&newwindow=1&rlz=1T4GGIC_enUS220US220&q=Peter+schiff+%2B+abortion&aq=f&aqi=g-c1&aql=&oq=&gs_rfai=
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
http://ameriborn.com/shifty/
This is SCHIFF in his own words!
video of Peter Schiff saying that LIBERTARIANS must infiltrate the Republican Party
http://www.ustream.tv/recorded/1583738
You cant download it directly, I tried, but hey, you can record it! :)
Peter Schiff appears at a Rand Paul/Adam Kokesh/Peter Schiff fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0
Rand Paul, Adam Kokesh, Peter Schiff, and others holding a fundraiser at Webster Hall in New York.
http://www.randpaul2010.com
http://www.schiffforsenate.com
http://www.kokeshforcongress.com
“Then take that money and buy up as much bargain basement quality real estate as you can. Anybody agree?”
Ever since the Carter years, I have figured that any tangible asset is a potentially safer haven to store wealth than paper money. While I like land as much as anybody, there are downsides: 1) the government knows where your land is 2) the government can re-appraise and tax it however they wish 3) the government can confiscate your land 4) you can’t flee the country and take your land with you 5) land is not very liquid - it can be hard to sell on short notice and recoup what you paid for it.
“Ever since the Carter years, I have figured that any tangible asset is a potentially safer haven to store wealth than paper money. While I like land as much as anybody, there are downsides: 1) the government knows where your land is 2) the government can re-appraise and tax it however they wish 3) the government can confiscate your land 4) you cant flee the country and take your land with you 5) land is not very liquid - it can be hard to sell on short notice and recoup what you paid for it.
“
All good points, and I could see this happening if we continue down the road we’re on. But the country just may be about to put the brakes on this trip down said road. Government’s heavy hand may become much lighter. A person with multiple rental properties bought now at ridiculously low prices would be sitting pretty. I know WebFocus reports prices will go even lower, but a downside to waiting would be that the quality bargains may be already scarfed up by other investors. I myself own one rental house and am looking to see if I can scrape together enough to purchase another one once this foreclosure mess is cleared up.
You must be kidding.
Do you know what a bargain Polish real estate was in 1939?
There is a reason people purchase gold instead of real estate.
Real estate only has value when it is within a jurisdiction that maintains rule of law and property rights.
When a jurisdiction decays into thugocracy, people who have the means buy gold so that when they bug out, they can take some portion of their wealth with them.
How safe do you think your property rights are under the current regime?
” You must be kidding.
Do you know what a bargain Polish real estate was in 1939?
There is a reason people purchase gold instead of real estate.
Real estate only has value when it is within a jurisdiction that maintains rule of law and property rights.
When a jurisdiction decays into thugocracy, people who have the means buy gold so that when they bug out, they can take some portion of their wealth with them.
How safe do you think your property rights are under the current regime?”
You’re obviously sure things are going to go to hell in a hand-basket. I’m betting they won’t. Time will tell who’s right.
Actually, math will tell who's right.
And it's me.
We can't recover. It's not mathematically possible.
The only question is when the gigantic crash momentum overcomes the puny efforts of the evil pinhead cabal in DC.
“We can’t recover. It’s not mathematically possible.”
If you truly believe that, then you have to believe that Freepers here who are investing time and money in conservative candidates in the hope they can turn this country around are just suckers, because according to you, all hope is lost.
You can attempt to emote and create distractions over the issue all day long as far as I care. It doesn't change a thing.
It is mathematically impossible to save the American economy as now composed.
BTW, the debt-based Federal Reserve fraud is *not* what made America great, nor is it what conservatives are fighting to retain. It's what killed us. And the sooner that it and the fake manipulated economy it created die together, the sooner we can get back to rebuilding a *real* America based on value, thrift, productivity, and NO CENTRAL BANK.
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