in late 70s early 80s we were deep into cold war, consumer debt, housing bubble caving in, declining dollar were all there in 1980, also oil off the charts :think2:
than everything got smacked in the face
i think on the gold front things are a little different this time though
but as far as other assets the outcome will be the same
plus i'd have to look back i think we had a recession in the late 70s while gold skied
but after that blowoff gold finally went caput
we might be in the early stages of late 70s early 80s type environment but think things are much much worse now
i'll have to do some research these statements off the top of my head
Read up on diversification, that's the most important bit.
Cash devalues because of inflation but the guy with the cash when things get rough has the ability to buy bargains instantly.
I got lucky in property, but I had no real choice, we all need somewhere to flipping live and just paying the frigging bills didn't leave much afterwards for any kind of serious investing.
All markets are rigged by governments and the big boys to some extent.
With stuff like Gold and property you have a tangible asset.
Shares are intangible assets, a kind of variable IOU.
If all three crashed by 90% you would have somewhere to live and some nice gold paperweights to stop your worthless shares blowing away.
The house and the gold would definitely be your most useful assets.
Cash devalues because of inflation but the guy with the cash when things get rough has the ability to buy bargains instantly.
I got lucky in property, but I had no real choice, we all need somewhere to flipping live and just paying the frigging bills didn't leave much afterwards for any kind of serious investing.
All markets are rigged by governments and the big boys to some extent.
With stuff like Gold and property you have a tangible asset.
Shares are intangible assets, a kind of variable IOU.
If all three crashed by 90% you would have somewhere to live and some nice gold paperweights to stop your worthless shares blowing away.
The house and the gold would definitely be your most useful assets.
cold war is not comparable to todays war... US soldiers/marines/sailors and veterans like myself have and still are carrying the burden of this war. $600 billion a year? no end in sight? More animosity towards the US then ever?
The housing now with people who make 75K a year are buying houses at a 250K sticker price because of no doc loans and subprime mortgages? Thats not 1980
Back in 1980... people were making it... then as time went on, people were living paycheck to paycheck... and today, its gone beyond that... people are living on credit - straight credit. Its sad to see that someone goes to the grocery store, gets a loaf of bread, gallon of milk, and some soup and puts its on their credit card (not debit...credit)
so no, this is a 1980 parallel
The housing now with people who make 75K a year are buying houses at a 250K sticker price because of no doc loans and subprime mortgages? Thats not 1980
Back in 1980... people were making it... then as time went on, people were living paycheck to paycheck... and today, its gone beyond that... people are living on credit - straight credit. Its sad to see that someone goes to the grocery store, gets a loaf of bread, gallon of milk, and some soup and puts its on their credit card (not debit...credit)
so no, this is a 1980 parallel
its SIMILIAR in some ways today the pre conditions just a more bubblier and bit scarier
obviously every time period isn't going to have the same exact set of variables
as you say than time went on people were living paycheck to paycheck
well that's what they gonna be doing now and are in the process of moving to
you do realize how much money the US spent on the cold war right? and how much oil skied during it? its ALL about the money, the people, animosity, and such are inconseqential to the equation we are talking economics
eek, i own a small home (paid in full) and all my investments are not in gold/precious metals.
i do own a few food/agri companies, other base metal stocks, some infrastructure stocks, and have a handful of other stocks that are not commodity related such as transports, utilities, and biotech.
i also own 3 different foreign currencies.
not sure why you are targeting me lately about gold....again.
i do own a few food/agri companies, other base metal stocks, some infrastructure stocks, and have a handful of other stocks that are not commodity related such as transports, utilities, and biotech.
i also own 3 different foreign currencies.
not sure why you are targeting me lately about gold....again.
ope:
hno:asia all slightly red
china still having trouble finding a bid battling mother nature
although flat the last two days after 7% haircut on monday
US actually has held up much better in relation to the rest of the world thus far
granted the rest of the world ran up much more than we did the last 5 years in percentage terms as well
as i've been saying its quite symbotic on a global economy scale right now, all world economies moved in tandem upwards for the past 5 years, now they moving down in tandem to various degrees, global recession looking solid right about now
the scary part is great depression part 1 was a global event
like in the late 90s asia had an asian currency crisis while US had a tech boom, and asia recovered while tech bubble burst
china still having trouble finding a bid battling mother nature
although flat the last two days after 7% haircut on monday
US actually has held up much better in relation to the rest of the world thus far
granted the rest of the world ran up much more than we did the last 5 years in percentage terms as well
as i've been saying its quite symbotic on a global economy scale right now, all world economies moved in tandem upwards for the past 5 years, now they moving down in tandem to various degrees, global recession looking solid right about now
the scary part is great depression part 1 was a global event
like in the late 90s asia had an asian currency crisis while US had a tech boom, and asia recovered while tech bubble burst
don't worry
many people like to call me tizdoom
maybe i'm wrong or lets hope at least
i dunno no set definition of depression (its just a nasty recession)
negative GDP growth yoy for one year during the first one was in the teens
you'll know if we are in a depression there will be long lines in front of soup kitchens
and yes a recession is officially declared after guberment and the economists reports 2 consequtive quarters of negative GDP growth (at that point markets are usually 30% off their highs already and have much more to fall)
many people like to call me tizdoom
maybe i'm wrong or lets hope at least
i dunno no set definition of depression (its just a nasty recession)
negative GDP growth yoy for one year during the first one was in the teens
you'll know if we are in a depression there will be long lines in front of soup kitchens
and yes a recession is officially declared after guberment and the economists reports 2 consequtive quarters of negative GDP growth (at that point markets are usually 30% off their highs already and have much more to fall)
