Posted on 04/12/2020 11:17:20 AM PDT by fightin kentuckian
I'm like most Freepers, I work, still have a job for now, and I save money to a 401k, IRA. My money is still right where it is when this current crash started, but a lot less of it.
The US debt is out of control and with these corona virus mega spending bills there is no way that the US will ever come out of debt. One day, the US economy will in fact crash from this mounting debt, it's inevitable given we are not deviating from our path. And when it all comes down it will make the virus crash look like a mild correction.
When that day comes the market will go to zero and banks will NOT give us our money. Everyone will default on their debts in order to hoard what little cash they have. Inflation will skyrocket, dogs and cats living together, Armageddon.
My question is what are you doing with your money to get ready for that day. What investments are you using? What do you recommend?
This is a serious thread so lets dispense with the lame jokes about me giving you my money. I'm asking on this forum specifically because a lot of Freepers are extremely smart, connected, and in the know about a variety of topics.
He is Risen! Happy Easter!
At this point, it’s almost as if currency will matter less than some kind of material commodity, if severe inflation and devaluation of currency actually does happen.
Buy silver and gold while its still relatively cheap.
Keep your reserved cash in Canada.
I’m in most everything. Diversified they call it.
Some things directly, some by way of stocks, ETFs, preferred stocks, bonds and mineral rights.
Debt itself won’t cause a crash.
The 80%+ unconstitutional portion of the $4 trillion government interfering in every aspect of our lives with it’s commensurate high taxes is the real economy killer.
Just give me your money.
The money will be converted to historical US Notes issued by the US Treasury and indexed to physical gold.
We will be fine.
The Fed and its member monsters will be in agony.
I cashed out of 401k and IRA after 2008 crash. never again.
IF inflation and devaluation actually occur??
They used to say, “That and a dime will get you a cup of coffee.”
When I was a kid, candy bar was a nickel, then a dime, a quarter. Now it’s a dollar plus.
New cars used to cost $600.
Buy a supply of Mickey D’s cheeseburgers. They last forever without rotting.
I would stay in the 401(k’ plan. It will come back up quickly.
We are still living in the wealthiest society in human history and it will only improve.
> a lot of Freepers are extremely smart, connected, and in the know about a variety of topics <
I am none of the above. But I can’t see the Federal government defaulting on its debts. So the only other alternative is to print their way out. You want to cash in your Savings Bonds? No problem. Just give them a second to print you a stack of twenty dollar bills.
So the question becomes which assets would do well in inflationary times. Gold? Real estate? Blue-chip companies?
Regardless, this inflation might not happen for 10 or 20 more years. The politicians are really good at kicking the can down the road.
I’m working on getting mine out of the 401K and into real estate.
Any economic “crash” would be due to deflation, just as happened after the 1929 crash, and unlike what SHOULD have been done in 1929, the solution today is to prime the economy with large amounts of cash, much like priming the carburetor of a cold engine with excess gasoline and then leaning out the mixture after the engine warms up ...
2/3rds of our Investments are in Cash. Waiting for the right moment to move money into the Market.
I’ll be dead by the time the reckoning occurs. A $30 Billion National Debt meets rising Interest Rates. Half the Federal Budget just paying Interest on the Debt.
Should be interesting.
now would be a good time to invest in mental health businesses (Are there any on the stock exchange?)- they are likely seeing a steep increase in patients
Just a thought
I’ve heard this fearmongering for DECADES!
Right now, THAT is a much bigger threat that nobody talks about.
We will go to a barter economy, gold and silver coins, etc., will be worth something, other things maybe not as much. Diamonds for instance will be a dime a dozen, everyone will try and use them but they are neither scarce or will be very valuable, except for antique and certain pieces of jewelry.
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