I try to tell my friends and family to buy silver and gold in the physical and stocks. They think that I am crazy. My Dad bought sone silver but he is just following the trend. What people don't realize is that US lifestyles are going to change. The only way out for our , excuse me, The government, ( certainly does not represent my values) is to inflate their way out of the Financial Nightmare that is our Reality. It could be a depression type scenario that has never been seen before in our history. Do people that you talk to have any idea of what is happening
We have a 1.4 trillon budget deficit for this year, and congress is arguing over 100 billion dollars in cuts. Folks, scott tissue will be worth more than the US Dollar within the next few years. You are correct, people don't get it. You must invested in gold/silver coins, metal or stocks to protect yourself! Good post.
Same Here. I have stopped talking to my friends about the metals market and the fincial abyss we are on the edge of. They all have second homes/condos and do not want nor are interested in a reality check. Their prevailing attitude is this will get back to normal in a couple of years. I got tired of feeling like an outcast so it is a subject I do not bring up now or participate in.
In many cases, it's that people don't want to admit that you know more than they do about a subject.
I was once a Finance Officer, I went to college for 5 years in order to take the CPA exam, (came into some money and never took it), I was a Realtor Associate, I have taken various IQ tests which always rate me between 140 and 160.
Do you think that anyone ever asks me for financial advice?
Do you think anyone listens when I sometimes give it to them anyhow? Advice that if it was coming from a professional with my education and experience would cost them about $150 per hour? If you said yes, guess again.
Overall, I could have saved a handful of friends and relatives many HUNDREDS OF THOUSANDS OF DOLLARS, if they had just listened to me a few times. When CD's were paying 16 percent, my in-laws had almost $100,000 in a some savings and loan accounts paying 4-5 percent. I couldn't get them to move that money for anything in this world.
Anyhow, don't feel badly, or be surprised, when people won't listen to advice...
so I am now looking ahead for to buy the second homes and condos and so forth, both in the united states, and abroad, for I thinking we about to enter phase where the inflation to kick up and the loans for to be harder to get, but all the toxic assests to be devalued. So I seeing a period of simo inflation and defation and a local minimum of the ratio of what the gold and silver stocks could buy vs. the price of the real estate type of assests. I think this local minimum to be flat, so there no huge hurry to scoop up the real estate. I looking at this as I do the stock aquistions and that to throw out the low ball type offers and be happy to walk away if they no like them. I do think that there is a second move in the drop of the realestate prices as the cost of loans go up because of inflation type forces, and the people dont have the money to get the loans.. but the people who invest in the pm type stocks have the money and get the realestate... but I would look even beyond the US to lower real estate type of taxes... what is going down now is consistent with my predictions. As master trader I doing very well having sold many many puts on cde, slw etc and really low prices for past two year, and I even having bought the call options on the NEM at the 50dallars two weeks ago and the cde june 23 calls for under 11 dallars. the wild card that could making me lose money would be if the disco man come out with disco deal. I cross fingers that this event no to happen before he retire to disco land forever.
There is no "getting back to normal" UNLESS and UNTIL the massive debt is payed down. This is true on a Federal level just as much as on a personal level. Although unbelievable to many, crashing America's economy is the goal of the man at the top. If you don't believe that, then you also believe that the Middle East is going "democratic".. HOGWASH.
It's that dreaded "normalcy bias" syndrome where MOST people simply cannot imagine NOT having a TV without a picture, a running faucet, food in the fridge, a phone that's dead, or no gas for their car.
Not to be cynical, but how many people ever realize what's happening to them while there is still a chance to do anything constructive about it? Not many.
I didn't have a lot of investment funds when I was young. I got married and became a parent as a teenager. Before too long, I had 4 kids to support. I told my dad to hoard silver in the late 70's, which he did, trouble is he never sold it, he held it all the way back to the 3 and 4 dollar level.
There are so many investment ideas that I've had. I pounded the table in 2002 to start buying pm's. Nobody listened. I suggested an end to the housing boom in Sept. 2005. It officially peaked in Oct, 2005.
I could go on and on. People are like Titanic passengers. They sit comfortably until the ice water starts lapping around their ankles....
Hogg_ For the most part you are right. The people preparing the most I've noted are some of the older country folk. Some are canning a lot more and have just now started to buying extra food because it's better than sticking the money in the bank now. Basically most of their preparation is totally inadequate for this particular situation. My own preparartion appears extremely radical to all but the most aware in this economic situation.
The people that I talk to don't have clue. As long as they have their TV, there cell phones and radial tires they're happy. I haven't seen anyone run to the window, open it, and yell. "I'm mad as hell and I'm not going to take it any longer." What the hell, life is short...why worry.
PS..That line about going to the window and yelling, "I'm mad as hell......" is out of the 1976 movie entitled, "Network." That movie has held up extremely well and is just as timely today...35 years later. If you haven't seen, you are in for a treat.