What To Do NOW For Everyday Americans? - New England Patriots Forums

***maverick4*** · 09-17-2008, 12:06 AM

The unfortunate predictions of the past 3 years in housing and financial sectors are starting to happen, and we are probably only halfway through a complete *****storm that is going to put this country into a Super Depression similar to early 1930's Germany or Argentina from a few decades ago.

I don't care to debate moron sheeple who continue to deny the long term ill health of America's economy, in this thread.

For the sane people here, what are you doing with your money and assets? What can all of us do to protect our wealth, what specific moves are smart people doing?

It's time to share how we can protect ourselves, use the internet to share information on what each of us can do at this point.

PatriotsReign · 09-17-2008, 12:53 AM

Quote:

Originally Posted by maverick4

The unfortunate predictions of the past 3 years in housing and financial sectors are starting to happen, and we are probably only halfway through a complete *****storm that is going to put this country into a Super Depression similar to early 1930's Germany or Argentina from a few decades ago.

I don't care to debate moron sheeple who continue to deny the long term ill health of America's economy, in this thread.

For the sane people here, what are you doing with your money and assets? What can all of us do to protect our wealth, what specific moves are smart people doing?

It's time to share how we can protect ourselves, use the internet to share information on what each of us can do at this point.

I think Shmessy is a financial advisor. "If" you're right, I would think gold is the only answer.

I'm not sure how bad it's going to get. I don't think it's that predictable since we're in unchartered territory. but being prepared isn't a bad idea.

Run DMC · 09-17-2008, 02:24 AM

At least 10% of your net worth in tangible(not paper, ie, GLD etf) in precious metals stored somewhere safe, not a bank! Guns, ammo, food supplies, etc.
Here is a site that hopefully none of us will have to study:
Surviving in Argentina

***weswelker#83*** · 09-17-2008, 07:36 AM

Best place to park cash:

VMPXX (Vanguard Treasury Money Market fund)

or

If you have a mortgage balance AND you plan on staying put AND you bought before the housing bubble, I would advise putting some of the cash toward your mortgage balance (if pre-payment is an option).

mcgraw_wv · 09-17-2008, 07:47 AM

Quote:

Originally Posted by maverick4

The unfortunate predictions of the past 3 years in housing and financial sectors are starting to happen, and we are probably only halfway through a complete *****storm that is going to put this country into a Super Depression similar to early 1930's Germany or Argentina from a few decades ago.

I don't care to debate moron sheeple who continue to deny the long term ill health of America's economy, in this thread.

For the sane people here, what are you doing with your money and assets? What can all of us do to protect our wealth, what specific moves are smart people doing?

It's time to share how we can protect ourselves, use the internet to share information on what each of us can do at this point.

My Personal strategy right now is to use Social Lending site like Prosper.com ( ask m e for a referral ) and lend other people small amounts of money. I have more faith in individuals than I do in system banks, or instituions, and there is no reason why I can't be the one who collects all the compounded interest.

So far I have lent out 3000.00 in over 45 different loans with an average return of 15%. I have been lending for 6 months now, and I have only gotten one late payment.

You can see my public stats here - LendingStats - Lender Profile: MadLender

I believe in people, and Americans, and I am 100% willing to lend someone 50.00 over 3 years with interest if their financials add up.

I set up a solid filtering system with their portfolio plans which filters most of the crap loans, which I can share with anyone, and I feel it is a solid strategy and I put 50.00 a week into it to be lent out. All I have to do is fund it, and everything else is automatic...

If anyone else is interested, we both get 25.00 for referring someone.

PatriotsReign · 09-17-2008, 08:17 AM

"If" this country ever got to a similar point as Argentina, I don't think our soldiers and the police would back the government for long if our people demanded change. I pray we are structured so that something like that could never happen, but if it does, I have faith in our people.

Would we start a revolution? Absolutely! But the difference is no one would stop us or even try. What would our government try to defend? After all, we are a government by the people and our people would want to preserve democracy.

ljuneau · 09-17-2008, 09:21 AM

I once thought Peter Schiff was a bit wacko, but now I see he was correct in predicting the real estate bubble, the sub-prime disaster, and the collapse of major financial institutions. Next domino - hyper-inflation and the collapse of the dollar:

Quote:

When the dust settles, the Federal government will be left with staggering liabilities that will be impossible to repay with legitimate means (taxation or borrowing). To make good, they must rely on the printing press to create money out of thin air. The rapid expansion in money supply will push the dollar down mercilessly.

Right now every asset on the planet is being sold except the U.S. dollar. To me this rally looks like the last gasp of a dying currency. Just like a toy rocket ship, once the dollar runs out of fuel it will crash back down to Earth.

Here is his latest article.

Looks like gold and foreign equities is the way to go.

mcgraw_wv · 09-17-2008, 09:25 AM

Quote:

Originally Posted by PatriotsReign

"If" this country ever got to a similar point as Argentina, I don't think our soldiers and the police would back the government for long if our people demanded change. I pray we are structured so that something like that could never happen, but if it does, I have faith in our people.

Would we start a revolution? Absolutely! But the difference is no one would stop us or even try. What would our government try to defend? After all, we are a government by the people and our people would want to preserve democracy.

No way....

We lack the strength to do anything real... the American public is lazy and unmotivated. I love how the politicians for the sake of their careers say they have so much faith in our people, but I do not.

We can't get a fence built that we all want...

We can't come up with a real healthcare solution...

Hell here in Florida we can't even really conserve water, becuase everyone wants their lawn watered, simply everyone else should reduce their use...

It's even hard to find people who want to discuss politics in my everyday life, which is why I come here.

People do not care, and will accept anything they are told too... Some individuals will be upset, but they will simply be labeled as conspiracy theorists or kooks ( Ron Paul Movement )

IF a vote was pased to waive the 2 term limit on a president and due to the on going war on terror to keep the current president and wave elections, we would be upset for a few days, and ho hum back to the rat race...

***weswelker#83*** · 09-17-2008, 09:28 AM

Quote:

Originally Posted by ljuneau

I once thought Peter Schiff was a bit wacko, but now I see he was correct in predicting the real estate bubble, the sub-prime disaster, and the collapse of major financial institutions. Next domino - hyper-inflation and the collapse of the dollar:

.

DUH!!

Laffer was the one who convinced Reagan that you could lower tax rates and raise spending and everything would be fine.

Remember this thread bud ?
8/28/2006 : Early warning on US economic bust
http://www.youtube.com/watch?v=LfascZSTU4o

wake up sheeple.

***weswelker#83*** · 09-17-2008, 09:30 AM

do you guys remember this thread ?

April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom."

and this thread

8/28/2006 : Early warning on US economic bust

How is that for you now?