Posted on 02/19/2016 5:55:43 AM PST by John W
The current crop of socialists will be far more determined to take control for good.
The reason it looks that way is because we are in the beginning of a global deflationary depression. Act accordingly.
IBTSHL - In before the Smoot-Hawley lie.
place-hold for later!
Ps. any advice on what acting accordingly includes?
“The reason it looks that way is because we are in the beginning of a global deflationary depression. Act accordingly.”
How does one act accordingly (besides not rack up debt)????
During a deflationary cycle cash is king.
Stock up on food, ammo and PM. Get a garden going and get some chickens. That’s what we are doing.
Stock up on food, ammo and PM. Get a garden going and get some chickens. That’s what we are doing.
That's old school. Electronic enforcement of negative interest rates, will ensure that your "cash" deflates along with everything else.
1. Every withdraw becomes fractional, e.g. you only get 97%.
2. The Feds require every person's pay to be direct deposited.
3. Cash withdrawals are limited and at some point the Fed announces a currency change. Each family can only turn in X-amount of the old currency in exchange for X-amount of the new currency.
This has already been done, just not here yet.
And transacting physical gold/silver will once again be made illegal.
Copper might be a good bet.
The world’s central banks have pumped $12.3 trillion dollars into the world’s economy, since 2008, in quantitative easing to stave off the worldwide depression. Of that $12.3 trillion dollars, $4.5 trillion was from the U.S. government to prop up our economy.
After all that, the world’s economy is still coming apart at the seams.
Hang on, it’s going to be a bumpy ride.
Simple question. Cash windfall...pay off 28 year mortgage at 4.5 percent or keep cash?
In a depression you may be able to refi an 1% or even less! The trick is you need to keep your job. It is risky business deflation. I am in debt and vulnerable too.
“The trick is you need to keep your job. “
Well, that’s it for us then.
We went Galt, quit working and paying the fascist government, moved to a rural area.
Hope it doesn’t backfire.
That is the problem. Just retired.
How many years left on mortgage?
28 years, 75 years old, healthy, wife 63, healthy.
Pay off mortgage and then we both die early...wasted the money paying off a house soon. Live long and faced with paying mortgage when no possibility of earning extra money with part time work.
Couple years ago we had a buyout offer from a former employer vs. later monthly retirement and decided to take it and pay off our mortgage even though the tax implications for that were poor. We just decided we weren’t going to get rid of all of our debt before retirement any other way. Now we’re working on everything else as I’m still working full time at 60 and she is babysitting and receiving a couple minor pensions and social security at almost 68.
Looks like we will take the same path. Can’t live for today and not worry about debt. I guess that is what makes us who we are. Been retired a couple of months and starting to get restless. It’s a curse!
Thanks for feedback.
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