[quote=FlyerInHi]If you are smart, you can do well regardless.
Remember that other people doing shitty doesn’t make you do better.
.[/quote]
Wise words. I really enjoy your posts FlyerinHI. I’m a bit late to this thread but I think the key take away is that there are so many people that I hear almost wish for another financial collapse. This is just foolish to me.
All perhaps in the likelihood that ‘this time’ they will try to take advantage and make money. People do NOT realize how disastrous things could have turned out for us. Most people don’t truly understand how dire of a situation we were in.
To wish in ANY way, shape or form to anything close to that is reckless, IMHO.
I’m NO fan of endless printing of money. It typically never ends well over the long run for ANY country. I’ve lived abroad in countries where governments have printed endless amounts of money. Trust me, it doesn’t end well.
Still, I’m also of the opinion of “Do NOT fight the Fed”. No amount of complaining is going to change things. The way I look at it is that it is what it is. I have investor clients that started shorting the market against earlier this year and just gotten killed. You can’t fight the fed.
As FlyinHI mentioned, there are ways to do well regardless if you are smart. Things go up and things go down.
The only thing you can do is prepare for a possible scenario where things don’t end well with all of this printing of money. Eliminate ALL debt, build up assets, have a paid off place and preferably have another place or places that you own that generate cash flow.
In the ideal situation, you own another property abroad and even have dual citizenship or establish permanent residency in a second place. I don’t think it will come down to a situation where people need to worry about this but part of my game plan was thinking of a worst case scenario situation.
The USA is and probably always will be the greatest country in the world. I have more of an appreciation for it having lived abroad so many years and seeing first hand that our way of life, safety, efficiency, banking system is the best!
The situation with the Fed is what it is. No amount of complaining will help so people just need to take steps to do what they can to make the best returns they can without too much risk.
