Cashman: I gather you are in LA area. After the recent FED actions I share your thoughts: FED will not allow any kind of depression scenario to repeat. All such risks will be eliminated by sufficiently inflating the currency to make idiots of savers like you and me. My thinking, for anyone with multi-million $ in cash, is to invest in prime real estate in the main international gateway port cities (LA/SF/SEA/NY/Boston etc). I don’t think SD fits properly into the list. The reasons are exactly what you have said – FED will devalue the $ to unburden our debts, public & private. With the cheap $, prime property in these international cities will be juicy targets for foreigners. When $ becomes cheap, not just Chinese, but Japanese, Koreans, Europeans, South Americans, Rich Mexicans will all like to buy property here.

Would you like to tell what ties you down to Southern California? I am wondering if your investment activities (assuming in Real Estate) in non-bubble areas may be less riskier.