Discussion in 'Economy' started by user_name_guest, Oct 9, 2008.
This past year. Over half of our GDP. Wow.
It's not fixin to get better soon. The rest of the global markets are in the tank as well.
That's the problem with globalization.
It doesn't work. Everyone gets screwed.
Time to batten down the hatches, produce our own goods and increase industry.
Holy fuck! I agree with Allie!!!!
It wasn't all just lost. Trillions are sitting in bank accounts and CDs and Treasuries, waiting until greed overcomes fear again.
Why not just an embargo around your city and have your city produce everything? That'd make you super rich.
No, free trade isn't what caused this at all... it might be that gov't spent all the people's money for wars and welfare?
The Return of Jesus Christ is Imminent!!!
That's what you get for handing your hard-earned money to a complete stranger, hoping he's somehow going to make a lot of money with it and send you some of the profit.
Most American millionaires made their money the same way they did 300 years ago:
You buy it on margin (or even better, get the struggling homeowner to finance it to you), and then it grows in value.
Just don't buy land when people say "real estate is hot."
Buy real estate when people tell you it's a bad deal.
Think about it.
Buy low sell high. Pretty easy. Folks should be buying now. But so many sell low and buy high.
I sold my home in California in 2005 at the peak of the market and people said I was crazy.
They said, "the market is hot. Now is not a good time to sell. In a year or two you'll see."
I sure did. Yikes.
Glad I got out of there.
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