If this bill passes, some financial suggestions for all of you.

Discussion in 'Politics' started by oreo, Feb 6, 2009.

  1. oreo
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    oreo Gold Member Supporting Member

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    If this new so-called stimulus package passes the senate, this will be the first time in history when Mexico will be building a fence to keep Americans out of their country.

    Since I survived the Carter Adminstration, with Paul Volker as Federal reserve chairman, & whom Obama has chosen to head his so-called economic recovery team. I have a few suggestions for Americans trying to save what they have worked so hard for. I am also a small business electrical contractor who also survived the economic disaster of the late 70's, early 80's. I also know stocks, bonds, & currency trading. I know financials very well, & remember very clearly what happened, when our government overspends & borrows.

    With this huge bill, we are going to be borrowing from other countries. Expect to see hyper-inflation within the coming years.

    Some suggestions for all of you:

    1. Expect to see credit card interest rates in the 30 to 50%. range (for people with good credit.)
    2. Expect to see fixed rate 30 year mortages over 20%. So re-finance as soon as possible in the lower rates.
    3. Keep all your remaining assets liquid. Meaning that you are able to transfer money, to money market funds & or to certificate of deposits that will pay out big returns for your money. These deposits are now guaranteed to $250,000 K. No risk here. During the Carter administration if you had cash or liquid assets, one was able to put their money into an 18 month certificate of deposit, that paid 18% interest. So keep your assets very liquid!
    4. It probably wouldn't be a bad idea to invest in a little gold either. Gold more than doubled during the Carter years, reaching back then, a high of $800.00 per ounce. This is a long term investment--do not get scared out of it.

    And finally GOOD LUCK!
     
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    Last edited: Feb 6, 2009
  2. RodISHI
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    RodISHI Gold Member

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    Good time to have actual money huh?
     
  3. Modbert
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    Modbert Daydream Believer Supporting Member

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    And people say Eots is bad. You're making your assumptions over the Carter Administration. These are not only different times you wingnut but different Presidents, different policies in several areas,etc.

    Though what Carter did great for all his faults was focus on alternative energy. In fact, he put solar panels on the White House that were taken down by guess who? Reagan.
     
  4. Ravi
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    Ravi Diamond Member

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    Thanks for the offer, Cookie, but I'm not about to take advice from someone that thinks poor people are responsible for the economic meltdown.

    :cuckoo:
     
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  5. Modbert
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    Modbert Daydream Believer Supporting Member

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    He believes that?
     
  6. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    If we see hyper-inflation we've got bigger problems than you are addressing here. Take a look at the history of the Weimar Republic for an accurate view of what hyper-inflation does. Imagine wheel-barrels full of dollars for a single loaf of bread.

    Though I do agree with your suggestion to invest in gold, but that's never a bad idea.
     
  7. Annie
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    Annie Diamond Member

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    Agreed. The 'depression' will hit in 2010, without a doubt. Too much $$$ sloushing about, with more to be 'created.'
     
  8. Annie
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    Annie Diamond Member

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    Style over substance, but you fail to understand. Make that refuse to understand.
     
  9. oreo
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    oreo Gold Member Supporting Member

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    I lived through the Carter administration--I know financials very well, as I am not only very long term investor, but have owned my own small business for more than 30+ years including, during the Carter administration, & remember very clearly what went up & what went down.

    Hyper-inflation is coming. Watch for it--watch the short term interest rates & above all keep your assets very liquid!

    If you don't take my advice--then so be it--learn it on your own!
     
    Last edited: Feb 6, 2009
  10. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    All your advice is fine, I just think you're confusing high levels of inflation with hyper-inflation.
     

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