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 Replies: 11 / Views: 1,749 |
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Valued Member
United States
213 Posts |
Listen to this guy !
Wall Street Protester: "Stop The Money Printing, End The Federal Reserve" -- YouTube Video
Link Removed
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Pillar of the Community
Australia
7096 Posts |
If everyone was as informed and committed as this bloke.
Americans would not have the dramas they have now.
It's time to get rid of the blood sucking leeches out of wall st.
Whatever happens on wall st affects the rest of world and I hate the fact that a few incridibly greedy people can destroy my standard of living at a whim.
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Bedrock of the Community
Australia
21788 Posts |
If you are watching your retirement investments evaporate before your eyes, it is easy to have an empassioned view on this subject.
Sometime into the future when high inflation takes hold to pay off debts with inflated dollars, real estate investments may come back into popularity.
At least, when this happens you should care little about the ructions of Wall Street, when you are paying off your OWN property, not THEIR debts.
I warn all: Keep an eagle eye on the inflation rate. When it does rise, you will need to take action to defend your investments.
Having some PM's now, as well as then, would be good, but you can't build a roof over your head with a stack of silver bars!
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Pillar of the Community
Australia
7096 Posts |
Well said Sel.
I have stopped putting extra money into my super and have been concentrating on stockpiling as much bullion as I can get.
I retire in eight years and am pretty worried about the ability of my super fund to withstand the losses that will inevitably happen if the US dollar crashes.
If blokes like Ron Paul can get into the white house they MAY be able to stem the flow of wasted resourses and shake the rats out of Wall st.
If this dosn't happen we may as well put our heads between our knees and kiss our ##se's goodbye
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Bedrock of the Community
Australia
21788 Posts |
trout1105:
In Oz just now, having a large investment in cash for super funds is about as safe as you can get.
HOWEVER!
Remember Germany in 1922! The common peoples' savings were wiped out almost overnight. That is why I said: 'Keep an eagle eye on inflation!'
I am NOT saying that Oz. will go into hyperinflation, but during the Whitlam years, inflation hit 17%!
In that situation, you need a mortgage to pay off with inflated dollars. Paying off debts with inflated dollars is what the Government of the day did. It is an opportunity to make your debt work for you. It brought the final payment of my mortgage at the time, forward by nearly 17 years! Spend any spare cash you have to pay off that debt. Easy, with pay increases all coming from inflation!
I borrowed $25,000 in 1973, for a period of 25 years. I paid the mortgage off in 8 years with accelerated payments. Total interest over 25 years would have been $73,000. Instead I paid a total interest bill of only $13,000 over the 8 years, saved $60,000 worth of interest! The value of my house increased from $35,500 in 1973, to $63,000 in 1981. Total profit in 1981 dollars? $88,000!
I still have all of the repayment graphs that self encouraged me to accelerate my payments. All done on a single income at the time. Variable reducible interest rate for me over that period was between 6% to 14% and averaged around 9%.
Just for now, it is probably not a good idea with low inflation to have a big debt, because you need a secure income to service it. That may be a little difficult at this time due to relatively poor job security for some people.
It is a lesson I self taught myself, and I will never forget it!
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Pillar of the Community
Australia
7096 Posts |
Buying a house is a sound investment I agree. I have bought 2 of them and had 2 divorces my total profit from the two purchases is $0. I don't cry over spilt milk, so I just shake off the dust and get on with it. i don't have a huge debt ( I think my credit card is about $500 in the red) but other than that I have no other commitments. I have been buying Aussie silver for a few years and have lately been buying key date Aussie Pennies and half pennies. I always use cash for these purchases so there is no intrest charges on them. The upside is the coins are far more fun to aquire and you don't have to mow the lawn on them  |
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Pillar of the Community
United States
4008 Posts |
Most of the people "occupying Wall Street" now haven't got a clue as to where the REAL problems in the US are created. Hint: It ain't on Wall Street.
From what I have seen on the news from interviews with these folks, they are very sincere but not particularly well educated. They also have not exactly defined what their purpose is, what they really want, or what should be done to resolve our economic issues. Most of them look and act like the old time Hippies. Yep, it's a 1960s Redux. :-/
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Bedrock of the Community
Australia
21788 Posts |
One economic problem the U.S. and Australia have in common:
Manufacturing jobs have been exported to China. The balance sheet at the end of the year shows huge profit in the short term, because the cost of manufacture has dropped so much. The managers are rewarded with increased bonusus, because they have increased the return to shareholders.
Those who have been retrenched have their one off payout, and have to look for another job. Very sressful, if you are supporting a family.
Problem: The market has to buy the imported goods, and the people who buy have less to spend, as more people go on the dole. The ones who are lucky enough to keep their jobs have to pay higher taxes. If they don't, their Government starts to go broke and has to issue bonds that gradually become less secure, as Government debt increases.
Even China, who buys a lot of U.S. Government debt, is starting to complain about of the security of U.S. Bonds. The U.S. still has an 'AAA' credit rating. For how much longer?
No wonder that I see increasing cynicism here in the CCF, in threads such as this one.
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Pillar of the Community
United States
3294 Posts |
Actually, we only have a AA+ rating now.
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Pillar of the Community
United States
4008 Posts |
It looks very much like the entire world is grappling with the development of a true world economy. Yes, we are doing it in fits and starts and we are making plenty of mistakes along the way. Nothing new with that as we are definitely in unknown territory. While there are many problems created by this process, the end result will be a democratization of the standard of living around the world. In the meantime, however, we will see a great deal of turbulence in society and in the economy. The old ways of production and consumption are on their way out while new ways are on their way in. This can be terribly disconcerting to anyone who is used to the old ways and afraid of the new ones.
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Pillar of the Community
Australia
7096 Posts |
 Nod2003 The US lost its AAA rating a while back. Here in Aus we still have the AAA rating but only because we are mining the heck out of Western Australia and Queensland. We then sell all the raw materials to China, India, Korea and Japan, and then we buy most of our manufactured goods from the same people. How STUPID is that, if we don't start to encourage and nurture manufacturing in this great country we will end up with a mass of big holes in the red earth and our people will be begging in the streets. So what if it costs an extra 5 or ten bucks to buy a hammer, axe or shovel made in Aus, I will gladly pay the extra to keep goods made in Australia ( at least you just know that the handle won't snap on you). I really think we should stop living on a champagne diet with a beer budget |
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Moderator
 United States
6563 Posts |
From now on every political based thread will be locked or removed. This is a coin forum...that is all.
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Replies: 11 / Views: 1,749 |
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Posted 10/10/2011 04:55 am
