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 "massive wealth destruction"

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Diesel Dan

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PostSubject: "massive wealth destruction"   February 27th 2014, 2:28 pm

Interesting read:
wealth destruction

Thoughts, comments, concerns?
Or just plain... 
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Diseasel



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PostSubject: Re: "massive wealth destruction"   February 27th 2014, 8:57 pm

The dow jones industrial average is only 30 stocks so I wouldn't put to much into it. Plus over time they like to replace poor performing stocks from the index.

On the other hand there could be a lot to the story. The financial future looks grim. Few have any savings. Lots of retiree dollars coming out of the markets in the next few years. The US has to trim back spending to just break even on our annual budget deficit and then crank up taxes to start the long road to pay off the debt. If interest rates climb at all then the already challenged road becomes impossible. It will be mayhem.

There's no simple solution. Can't live with it and can't live without it. As the US goes so goes the world. Maybe invest in commodities like gold, silver, etc? Otherwise grab a beer, smoke some wacky tobaccy, and smile as you take it in the....
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TheQuig

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PostSubject: Re: "massive wealth destruction"   February 27th 2014, 9:17 pm

This will happen, the real question I believe is how soon will it happen? Gold and Silver are the investment I believe. I have both, but want to get rid of some of the gold as it too big in size to be able to make reasonable transactions with. I would like to covert the gold dollars into smaller denominations.

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Diseasel



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PostSubject: Re: "massive wealth destruction"   February 27th 2014, 9:25 pm

Japan has kept interest rates low for 30yrs or so. I'm not sure the US can pull that off though.

I'm hoping to retire in well under 10 years time but I don't know what it will look like.
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shatto

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PostSubject: Re: "massive wealth destruction"   February 27th 2014, 9:47 pm

Thank you.
I poorly worded what I said, so it probably sounded like bragging, my suggestion to learn how to protect yourself financially.
Fortunes will be made by people who know what to do. Why not you?
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theshyguy



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PostSubject: Re: "massive wealth destruction"   February 28th 2014, 1:00 am

http://m.us.wsj.com/articles/BL-MBB-16523
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theshyguy



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PostSubject: Re: "massive wealth destruction"   February 28th 2014, 1:05 am

I also believe trouble lies ahead but that article is not very good. The chart is basically a facade and the quotes are mentioning the crash coming not in the near future but last year. Off the mark; yes. Wrong; not IMO.

I still don't see how gold and silver will be of any good. If I am starving gold or silver or red krytonite will be no good. I will want food and water. At that point a gold coin will have as much value as a drink coaster; none.
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Diesel Dan

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PostSubject: Re: "massive wealth destruction"   February 28th 2014, 1:19 am

theshyguy wrote:
http://m.us.wsj.com/articles/BL-MBB-16523

Interesting read as well.
Flip side is that there were "experts" that said the market showed no signs of distress back in 2005.
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TheQuig

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PostSubject: Re: "massive wealth destruction"   March 1st 2014, 5:49 pm

theshyguy wrote:
I also believe trouble lies ahead but that article is not very good. The chart is basically a facade and the quotes are mentioning the crash coming not in the near future but last year. Off the mark; yes. Wrong; not IMO.

I still don't see how gold and silver will be of any good.  If I am starving gold or silver or red krytonite will be no good. I will want food and water. At that point a gold coin will have as much value as a drink coaster; none.



You will still be able to deal in metals when the paper money goes down the toilet. Gold and Silver will still get you what you need. The only other thing that will be necessary is protection, and I have that covered.

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