Posted on 05/05/2012 3:53:47 PM PDT by blam
I expected a failure of bond auctions by 2010. I didn’t take into account the fact that every other financial system(large enough to count) in the world is in worse shape than ours. Large investors have no where else to go, short of hiding money in mayonnaise jars.
The EU is fixing to collapse....China’s real assets are in US and Eu bonds. The former USSR is gaining, but still in terrible shape (energy is their only bright spot). Third world countries...well, they are third world countries and might seize assets tomorrow or default on debts.
As long as this continues, the Fed will be able to hold things together, and I don’t see world economics improving for years.
You're saying that investors in other troubled countries are investing here because we're the least worrisome?
I believe so blam.
I’m not talking about individual investors, but very large concerns. They have been fleeing European bonds for a while now (other than Germany).
My issue is what to do personally in the interim. I can't justify investing in a business, nor can anyone i know, because all assets are overpriced. I have looked. I could put part in precious metals and leave the rest in cash and go back to selling personal services, in my case practising law. I have been away from it for decades, so I wouldn't earn much. At least I would leave work every day having accomplished something, by contrast to the current frustration.
Fwiw, that's exactly what I've been doing for four years.
Some in precious metals, a certain amount of cash money..not letting my money stay in accounts too long, and have my own HVAC micro business. Big enough to earn a living, but small enough to escape most government mandates.
I also keep three months of dry goods on hand, have increased my holdings of guns and ammo (maybe better than money), and invested in tools.
I have two pieces of property that I have owned for years and will be paid off completely in six years , with a good size garden and decent size freezer.
I'm also going to do everything in my power to get Obama and the Dems out of power completely!
I've never seen an economy like this in my life...I'm almost 55. How it will turn out is anyone's guess.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.