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XBoxBoy
ParticipantSecond the opinion that the traditional basic advice is not very good. Most people who followed that have gotten burned pretty badly in the last year and are back to where they were ten years ago.
Many on this site will tell you to invest in stuff like gold, or commodities, but I will tell you that all of these things have their own set of risks which you need to carefully evaluate. And remember that with any wall street investments you’re swimming in a sea of sharks.
If I was you, I would keep my current savings in cash (bank money market or short term CDs) and start to pay very close attention to investing. Our financial system is still very shaky, and any investment could turn on you. There’s so much risk, that whatever you invest in now, might not be such a good investment in the near future. Paying attention will be critical in the near future.
Just my two cents worth.
ParticipantSecond the opinion that the traditional basic advice is not very good. Most people who followed that have gotten burned pretty badly in the last year and are back to where they were ten years ago.
Many on this site will tell you to invest in stuff like gold, or commodities, but I will tell you that all of these things have their own set of risks which you need to carefully evaluate. And remember that with any wall street investments you’re swimming in a sea of sharks.
If I was you, I would keep my current savings in cash (bank money market or short term CDs) and start to pay very close attention to investing. Our financial system is still very shaky, and any investment could turn on you. There’s so much risk, that whatever you invest in now, might not be such a good investment in the near future. Paying attention will be critical in the near future.
Just my two cents worth.
ParticipantWhat a load of %&$*%&!!! Here’s a quote from Obama’s prepared remarks.
[quote]The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly[/quote]
What a line of BS. If families played by the rules and acted responsibly, they wouldn’t need a bailout now would they? That Obama would engage in this blatent doublespeak just shows he is no different than the Bushies. (And personally, I can’t think of a bigger insult)
ParticipantWhat a load of %&$*%&!!! Here’s a quote from Obama’s prepared remarks.
[quote]The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly[/quote]
What a line of BS. If families played by the rules and acted responsibly, they wouldn’t need a bailout now would they? That Obama would engage in this blatent doublespeak just shows he is no different than the Bushies. (And personally, I can’t think of a bigger insult)
ParticipantWhat a load of %&$*%&!!! Here’s a quote from Obama’s prepared remarks.
[quote]The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly[/quote]
What a line of BS. If families played by the rules and acted responsibly, they wouldn’t need a bailout now would they? That Obama would engage in this blatent doublespeak just shows he is no different than the Bushies. (And personally, I can’t think of a bigger insult)
ParticipantWhat a load of %&$*%&!!! Here’s a quote from Obama’s prepared remarks.
[quote]The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly[/quote]
What a line of BS. If families played by the rules and acted responsibly, they wouldn’t need a bailout now would they? That Obama would engage in this blatent doublespeak just shows he is no different than the Bushies. (And personally, I can’t think of a bigger insult)
ParticipantWhat a load of %&$*%&!!! Here’s a quote from Obama’s prepared remarks.
[quote]The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly[/quote]
What a line of BS. If families played by the rules and acted responsibly, they wouldn’t need a bailout now would they? That Obama would engage in this blatent doublespeak just shows he is no different than the Bushies. (And personally, I can’t think of a bigger insult)
ParticipantThe stimulus should not by itself create inflation. However, there is a decent probability that a good bit of the stimulus will be paid for by T-Bills bought by the federal reserve, and the federal reserve will effectively “print” the money to buy those bills. (As opposed to using money already in general circulation) This printing of money is what people see causing inflation, or even potentially hyper-inflation.
There is a good bit of debate among econ oriented bloggers regarding whether the fed’s actions will be sufficient enough to stop deflation and cause inflation. Many make a convincing argument that the fed can and will print enough money to cause inflation or at least keep deflation from taking hold. The best argument for this that I’ve read comes from our own Rich Toscano.
Here:
http://www.voiceofsandiego.org/articles/2009/01/21/toscano/744nodeflationaryspiral012109.txt
and:
http://www.voiceofsandiego.org/articles/2009/01/22/toscano/743deflation012209.txtOthers argue that the fed has some fundamental flaws in it’s economic theory that it bases policy on and can’t or won’t create enough new money to stop deflation. This argument is best laid out by Steve Keen at debtdeflation.com
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
If you haven’t read these articles, I highly recommend them. Admittedly they are both long, and particularly Steve Keen’s will take some thinking to absorb. But this should shed a good bit of light on where we might be going.
XBoxBoy
ParticipantThe stimulus should not by itself create inflation. However, there is a decent probability that a good bit of the stimulus will be paid for by T-Bills bought by the federal reserve, and the federal reserve will effectively “print” the money to buy those bills. (As opposed to using money already in general circulation) This printing of money is what people see causing inflation, or even potentially hyper-inflation.
There is a good bit of debate among econ oriented bloggers regarding whether the fed’s actions will be sufficient enough to stop deflation and cause inflation. Many make a convincing argument that the fed can and will print enough money to cause inflation or at least keep deflation from taking hold. The best argument for this that I’ve read comes from our own Rich Toscano.
Here:
http://www.voiceofsandiego.org/articles/2009/01/21/toscano/744nodeflationaryspiral012109.txt
and:
http://www.voiceofsandiego.org/articles/2009/01/22/toscano/743deflation012209.txtOthers argue that the fed has some fundamental flaws in it’s economic theory that it bases policy on and can’t or won’t create enough new money to stop deflation. This argument is best laid out by Steve Keen at debtdeflation.com
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
If you haven’t read these articles, I highly recommend them. Admittedly they are both long, and particularly Steve Keen’s will take some thinking to absorb. But this should shed a good bit of light on where we might be going.
XBoxBoy
ParticipantThe stimulus should not by itself create inflation. However, there is a decent probability that a good bit of the stimulus will be paid for by T-Bills bought by the federal reserve, and the federal reserve will effectively “print” the money to buy those bills. (As opposed to using money already in general circulation) This printing of money is what people see causing inflation, or even potentially hyper-inflation.
There is a good bit of debate among econ oriented bloggers regarding whether the fed’s actions will be sufficient enough to stop deflation and cause inflation. Many make a convincing argument that the fed can and will print enough money to cause inflation or at least keep deflation from taking hold. The best argument for this that I’ve read comes from our own Rich Toscano.
Here:
http://www.voiceofsandiego.org/articles/2009/01/21/toscano/744nodeflationaryspiral012109.txt
and:
http://www.voiceofsandiego.org/articles/2009/01/22/toscano/743deflation012209.txtOthers argue that the fed has some fundamental flaws in it’s economic theory that it bases policy on and can’t or won’t create enough new money to stop deflation. This argument is best laid out by Steve Keen at debtdeflation.com
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
If you haven’t read these articles, I highly recommend them. Admittedly they are both long, and particularly Steve Keen’s will take some thinking to absorb. But this should shed a good bit of light on where we might be going.
XBoxBoy
ParticipantThe stimulus should not by itself create inflation. However, there is a decent probability that a good bit of the stimulus will be paid for by T-Bills bought by the federal reserve, and the federal reserve will effectively “print” the money to buy those bills. (As opposed to using money already in general circulation) This printing of money is what people see causing inflation, or even potentially hyper-inflation.
There is a good bit of debate among econ oriented bloggers regarding whether the fed’s actions will be sufficient enough to stop deflation and cause inflation. Many make a convincing argument that the fed can and will print enough money to cause inflation or at least keep deflation from taking hold. The best argument for this that I’ve read comes from our own Rich Toscano.
Here:
http://www.voiceofsandiego.org/articles/2009/01/21/toscano/744nodeflationaryspiral012109.txt
and:
http://www.voiceofsandiego.org/articles/2009/01/22/toscano/743deflation012209.txtOthers argue that the fed has some fundamental flaws in it’s economic theory that it bases policy on and can’t or won’t create enough new money to stop deflation. This argument is best laid out by Steve Keen at debtdeflation.com
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
If you haven’t read these articles, I highly recommend them. Admittedly they are both long, and particularly Steve Keen’s will take some thinking to absorb. But this should shed a good bit of light on where we might be going.
XBoxBoy
ParticipantThe stimulus should not by itself create inflation. However, there is a decent probability that a good bit of the stimulus will be paid for by T-Bills bought by the federal reserve, and the federal reserve will effectively “print” the money to buy those bills. (As opposed to using money already in general circulation) This printing of money is what people see causing inflation, or even potentially hyper-inflation.
There is a good bit of debate among econ oriented bloggers regarding whether the fed’s actions will be sufficient enough to stop deflation and cause inflation. Many make a convincing argument that the fed can and will print enough money to cause inflation or at least keep deflation from taking hold. The best argument for this that I’ve read comes from our own Rich Toscano.
Here:
http://www.voiceofsandiego.org/articles/2009/01/21/toscano/744nodeflationaryspiral012109.txt
and:
http://www.voiceofsandiego.org/articles/2009/01/22/toscano/743deflation012209.txtOthers argue that the fed has some fundamental flaws in it’s economic theory that it bases policy on and can’t or won’t create enough new money to stop deflation. This argument is best laid out by Steve Keen at debtdeflation.com
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
If you haven’t read these articles, I highly recommend them. Admittedly they are both long, and particularly Steve Keen’s will take some thinking to absorb. But this should shed a good bit of light on where we might be going.
XBoxBoy
ParticipantSocrattt,
Let me just point out that there are a number of assumptions in this plan:
inflation vs deflation
future value of dollar vs current value of dollar
future value of commodities vs current value of commodities.If any of your assumptions turn out to be wrong, you could be up the creek without a paddle pretty fast. So, think about what you are risking (ie your credit) before placing this bet.
XBoxBoy
ParticipantSocrattt,
Let me just point out that there are a number of assumptions in this plan:
inflation vs deflation
future value of dollar vs current value of dollar
future value of commodities vs current value of commodities.If any of your assumptions turn out to be wrong, you could be up the creek without a paddle pretty fast. So, think about what you are risking (ie your credit) before placing this bet.
XBoxBoy
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