So.... where's the best place to put your money now?

POSTED BY: 6ixStringJack
UPDATED: Wednesday, March 19, 2008 21:49
VIEWED: 7357
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SIMONWHO

Thursday, January 24, 2008 1:52 AM

Canned food and shotguns people. Canned food and shotguns.

FREMDFIRMA

Thursday, January 24, 2008 3:42 AM

And good tools, not only a decent investment, but of actual, immediate use - and a durable good that retains high resale value, even higher in a crisis.

We're not down to toilet-paper yet, but any soldier worth the name can expound at length about it's value under field conditions.

SellinForaBuckaSquareFrem.

LEADB

Thursday, January 24, 2008 4:14 AM

Quote:
Originally posted by Sickdude:
Okay, sorry if this is a bit offensive; it's not meant to be. But if you're taking financial advice from a Firefly fan board, maybe you shouldn't be doing speculative investing....

And you think a better source of financial advice would come from where? I mean, look at the hot tip we got from Hero!

Goldman Sack's? Big name. They recommended shorting gold for quite a while, recently changed their minds. Folks who followed their advice lost $58 an ounce. Ouch!

6IXSTRINGJACK

Saturday, January 26, 2008 6:21 AM

Thanks everyone for the positive and negative comments. Even the useless ones were worth a laugh. I will be looking into your suggestions.

I don't see any problem with soliciting financial advice from the RWED. I talk to this lot more than any other online community and though we argue on just about every subject, don't mean that I dont' respect them and wouldn't weigh advice they had to give.

Maybe I'll even buy a couch with my rebate Hero. Always wanted a leather couch.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

RUE

Wednesday, January 30, 2008 3:36 AM

I've been thinking about this recently. Right now the only thing that looks good is US real estate - for the reasons below:

With the value of the dollar so low you don't want to invest in anything with international value - foreign stock markets, currency or commodities. You'll automatically lose about 20% (or more) of the value of your investment, which is a lot to have to try and make back just to break even.

The US stock market is not about to go up anytime soon, b/c the economy's been so badly mismanaged.

You also don't want to invest in the US dollar or US government offerings, since they both seem shaky.

US real estate OTOH is depressed, and interest rates have just been lowered. This looks to me the best pick of the bunch. OTOH while I don't think you can lose on real estate it may be quite a while before you recoup on the investment (which I think will come in the way of foreign purchases made with US dollars of US land).

***************************************************************
"Global warming - it's not just a fact, it's a choice."

LEADB

Thursday, January 31, 2008 3:28 AM

Depends on the area. If you are in a 'big bubble' area, I believe folks have a couple years of big declines or at best -stable- prices during high inflation. In area which didn't bubble up so much, I think the general lending problems will simply make growth anemic... which will be bad since I anticipate harsh inflation. You will also have the privilege of paying taxes and the other joys of real estate while you watch the value not increase. I could be wrong though.

Two or three years, I think real estate will be bottomed out, then a good time to enter.

6IXSTRINGJACK

Thursday, January 31, 2008 3:56 AM

Yeah... I was thinking about waiting on real estate myself, but in the mean time I'm only getting 4.6% in my MMA which will likely go down again soon because they keep lowering interest rates. That's hardly keeping up with real inflation as it is, once you take the numbers of increased gas and basic foodstuff prices into account. I figure even with a 4.6% return, I'm really loseing about 4% a year, and even more when you consider I have to pay the government 25% tax on any "earnings" my MMA makes in a year.

When I was telling people a few years ago that the basic reason real estate skyrocketed was because interest rates were at historical lows my thoughts were then that if interest rates were to go to up to 10 or 15% then house values would plummet, allowing somebody who had cash money to buy a house on the cheap. (Which was kind of what I was hoping for in my current situation)

Somehow, I don't see that happening with the FED seeming to continue to bend over for Wall Street with the new leadership. Nobody in power seems to care much that the value of our dollar is near-laughable. The prospect of hyper-inflation scares me. I'm only able to keep my retirement account in the most conservative fund right now, as it's the only one that hasn't lost money in the last two months and my liquid currency is set up to take a huge beating once inflation starts to run away.

Maybe tools and metals it is.... and a big shiny black leather couch.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

RUE

Thursday, January 31, 2008 4:27 AM

"high inflation"

During high inflation it's a good idea to have a fixed, low interest loan. Better to have them pay you expensive money and you pay it back with cheap money. Your real assets which you bought with that expensive money will appreciate with inflation.

Oh, and if you anticipate a major currency meltdown, it's a good idea to take your money out before they close the banks, like in Argentina. But if they reissue currency, you're screwed.

But I'm still mulling over what to do. That's one reason why I'm not a good investor. It just takes me too long to get going.

***************************************************************
"Global warming - it's not just a fact, it's a choice."

VETERAN

Thursday, January 31, 2008 4:29 AM

Based on my last 401K moves, I'm probably the last guy to ask. Right now I think energy stocks and foreign markets are the way. Otherwise, figure out what Warren Buffet is into and adjust your investments accordingly.

FREMDFIRMA

Thursday, January 31, 2008 5:08 AM

Yeah, but try pulling a chunk of Phat Lewt out of the bank, all at once... you'll have the Taxman, Dept HomeSec, and any creditors, even if paid up in good standing.. up your ass with a microscope before you even make it home, IF the bank even *allows* you to withdraw your money.

And any loans you have outstanding may use that, quite legally, as an excuse to jack your rates, etc etc...

It's not nearly as easy as that, would that it were, and it'll only get worse as a crisis point nears.

Of course, this presumes you had Phat Lewt to begin with, rather than the Chump Change most of us do in fact have.

-Frem

It cannot be said enough, those who do not learn from history, are doomed to endlessly repeat it

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