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Originally Posted by UnderseaLcpl
...I sincerely hope that you have a some sound assets that will not be affected by the destruction of the currency, Sub. And I really mean that. It's not a jab or anything.
If I'm wrong in <thinking:hmm: > 5 years, you have my full permission to ridicule me for being an idiot. The state might forestall economic collapse or severe recession for that long, but I have doubts in their ability.
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Yawn. I've lost a lot of money in the last few weeks - big whooop. There are only really 2 kinds of people in the stock market. Ones that hang on for the ride, and those that jump off while the roller coaster while it is in motion and in the process they get hurt. Anyone that tries to invest in wall street and does day trading, and is not down on the floor of wall street, is going to wind up bumped and bruised. The stock market is a long term investment, nothing more and if you treat it any different, then you will wind up broke.
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As a last point, I will say this; Destruction of the financial system is a sure path to socialism. There are a lot of historical examples, so I won't bother to elaborate. I'm sure that you are well aware of them. This is no ordinary financial crisis, imo.
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Quite frankly, this is a normal financial crisis by all means. What is not normal about this one is that the Fed is trying to muddy the waters in an 'experiment' to see if they can manipulate it. If it doesn't properly reset like it always has due to their screwing around, it may crash harder than before. This is the part that is different.
The rest is news hype.
-S
PS. By the way, sound investments by keeping your money in 401K,s mutual funds, etc. is how you would weather a recession or a depression. These things are immune to inflation by the way. If inflation bites, then the value of your assets will automatically (or should I say automagically) keep pace assuming that you invested wisely. No worries.
PPS. Look at the track record of the investments you are doing. You can get tabs on investment funds going back through the Great Depression. This fund are averaging 13% to 14% even through the Great Depression. In my opinion, if your fund doesn't have 30 years + history, and if they didn't do well in those 30+ years if it does, its a bad fund.