tag:blogger.com,1999:blog-27697009.post8522223413890439600..comments2024-02-29T03:21:35.007-08:00Comments on The Great Depression of 2006 : Warning: Government Will Change the RulesJim in San Marcoshttp://www.blogger.com/profile/09435296419912935381noreply@blogger.comBlogger94125tag:blogger.com,1999:blog-27697009.post-44394400604763722882009-02-22T15:08:00.000-08:002009-02-22T15:08:00.000-08:00The 2 Definition of Gold:A. A successful business ...The 2 Definition of Gold:<BR/><BR/>A. <BR/>A successful business that you own which is a system and run by a loyal and competent employee. It is not a job for you personally, other than 1) oversight; 2) business strategies; and 3) creation of marketing, expansion or correction programs to be implemented by your employees.<BR/><BR/>B.<BR/>Income properties that you own free and clear that give great cash flow, tax advantages, and appreciation and have excellent property management.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-28722686137026326992009-02-22T14:49:00.000-08:002009-02-22T14:49:00.000-08:00Hi Anon 12:52I got laughed at a lot for buying gol...Hi Anon 12:52<BR/><BR/>I got laughed at a lot for buying gold at $300 an ounce and laughed at even more when it dropped to $250. So I know the feeling.<BR/><BR/>Gold at $300, I would definitely be a buyer. One ounce of gold in the past has been the equivalent of one weeks wages. I would expect a reasonable price for it to be around $500. Take that with a grain of salt, I sat on my gold for 20 years before it moved.<BR/><BR/>You have to buy it when no one wants it.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-86492181902697781032009-02-22T13:22:00.000-08:002009-02-22T13:22:00.000-08:00Hi Anon 12:47Our savings are geared to our future ...Hi Anon 12:47<BR/><BR/>Our savings are geared to our future retirement, where we might not be physically able to work. Our main goal is to have enough real money saved up to make retirement enjoyable. Your plan will work<BR/><BR/>Right now a lot of retired people now have to rethink those golden years.<BR/><BR/>Thank you for your commentsJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-33426936865376073342009-02-22T12:52:00.000-08:002009-02-22T12:52:00.000-08:00JISM: "I use the price of gold as a measuring devi...JISM: "I use the price of gold as a measuring device to gauge what our cash is worth."<BR/><BR/>Yes, handy it is too.<BR/><BR/>JISM: "The present rise in the value of gold means that a lot of people have a dislike for paper currency."<BR/><BR/>They dislike it because the distrust it.<BR/><BR/>JISM: "As times get tougher, people will be redeeming their gold to survive."<BR/><BR/>Sure they will, and a blessing it will be to have some to sell to survive.<BR/><BR/>JISM: "So gold prices could drop quite a bit."<BR/><BR/>I expect it will.<BR/><BR/>BUT .. given the early stage we are at in this economic downturn, and given the horrible economic signals I read about all the time. I'll hold some for a while yet, if it drops back to $35 /oZ in six years and the economy starts to boom - you know? I'll just chalk it up to experience and leave it to my kids, they can laugh at their old Dad and talk about his infatuation with that barbaric relic gold.<BR/><BR/>Looking back on my life so far, I've wasted quite a lot of money on an awful lot of much less enduring trash.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-65285229009865115672009-02-22T12:47:00.000-08:002009-02-22T12:47:00.000-08:00Ok Jim, but...If you own your rental properties fr...Ok Jim, but...<BR/><BR/>If you own your rental properties free and clear, or with a very small loan, you'll have enough rental income to cover operating expenses and to service the small debt. You can't go wrong with that arrangement, right?<BR/><BR/>But ok, you say rents could drop or be controlled and prop taxes could go up and your rentals could be sabotaged.<BR/><BR/>Then it looks like the highest dependability vehicle you could rely on as a support system is a viable business that YOU own that can earn decent income during a recession/depression, right?<BR/><BR/>The only thing above that would be a decent salary job that you love that has total job security and will never lay you off, right?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-78759699896233146082009-02-22T12:27:00.000-08:002009-02-22T12:27:00.000-08:00Hi Anon 3;44I'm not even suggesting that anyone ev...Hi Anon 3;44<BR/><BR/>I'm not even suggesting that anyone even go out and buy gold at these prices. It's too late. It wasn't a bad deal at $300. Usually silver keeps up with gold at a 15 to 1 ratio. That seems to be way out of whack right now. For it to keep up, silver would have to be at $66 an ounce.<BR/><BR/>I use the price of gold as a measuring device to gauge what our cash is worth. The present rise in the value of gold means that a lot of people have a dislike for paper currency.<BR/><BR/>As times get tougher, people will be redeeming their gold to survive. So gold prices could drop quite a bit.<BR/><BR/>To profit in this mess, you have to be willing to buy what everyone else is selling.<BR/><BR/>Rental real estate could be a real mess for a lot of folks who can't even get it straight buying one home.<BR/><BR/>Too much of anything leaves you vulnerable.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-67142613011822337682009-02-22T10:00:00.000-08:002009-02-22T10:00:00.000-08:00Anon on Sunday 22, @ 8:07:00 AM"Sorry. I'm still n...Anon on Sunday 22, @ 8:07:00 AM<BR/><BR/>"Sorry. I'm still not convinced."<BR/><BR/>Fine. Don't be sorry.<BR/><BR/>"I'm sure that there are multiple and diverse strategies that people have devised"<BR/><BR/>Yes, and when I was replying to you I was thinking just the same thing. <BR/><BR/>"Some will be successful, some won't."<BR/><BR/>No doubt.<BR/><BR/>"I don't wish anyone ill, .."<BR/><BR/>Didn't think you did.<BR/><BR/>"But the government is going to confiscate your gold down the road "<BR/><BR/>As my little 'chart' illustrated in terms of gold and as Jim observed similar applies to the things you need, eg. food too, the government are already confiscating your $, they are just doing it in a stealthy manner.<BR/><BR/>"I'll stick with accumulating and saving as much USD as possible."<BR/><BR/>An excellent plan. I just think that my little chart shows that even if you had doubled your savings over five years, the government has managed to steal 50% without you even noticing!<BR/><BR/>Granted there may be a fair bit of price inflation just because gold is thought of as a 'safe haven', I'll take advantage of that too.<BR/><BR/>And if that wasn't enough they have stopped you getting any interest on you hoard of $ either.<BR/><BR/>From my perspective that makes Gold far superior to plain US$ - for the moment.<BR/><BR/>Good luck!<BR/><BR/>Thanks to Jim by the way, this type of Blog didn't exist in the '30s and as a result we can exchange information and get just a tiny head start on the rapacious state. Our grandparents weren't so lucky.<BR/><BR/>(Although they had their own tenacity and sheer determination which I think is lacking in many in the modern west.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-81423484977679753032009-02-22T08:13:00.000-08:002009-02-22T08:13:00.000-08:00What's most astounding about the market decline is...What's most astounding about the market decline is this: It's happening despite the greatest outpouring of government money in history. Indeed, just in his first month in office, President Obama has quickly earned the distinction of becoming the single biggest spender in history.First, he got Congress to pass a $787 billion stimulus package. Next, Treasury Secretary Timothy Geithner unveiled the administration's bank bailout plan, which could cost up to $3 trillion. And last week, Mr. Obama rolled out his $275 billion anti-foreclosure plan. Add it all up, and it comes to more than $4 trillion, an amount nearly ten times larger than the budget deficit for all of 2008. All in just 32, short days! Four trillion is such an immense number that few people can grasp how massive the implications really are — both in terms of the great magnitude of disease and the massive unintended consequences of any cure. Look at it this way: If you were a very rich man living at the time of Christ ... and you could have started saving $1 billion per year every year thereafter, you'd still be only half way there! You'd need still another 2000 years to finance what Obama has committed to spending in just the one month since he began his presidency.If you could borrow $4 trillion at 6% interest, your interest payments alone would be $240 billion per year, $548 million per day, $761,000 per second. Without a doubt, the $4 trillion makes Obama the single most profligate spender in history — bar none. But the truly sad side of this story is that, even this unprecedented Mt. Everest of money isn't doing much for the stock market. Last year, for example, each time the Bush Administration announced relatively smaller stimulus plans and bailouts, the stock market would at least stage a temporary rally. But this year, the market has developed a very serious case of stimulus fatigue: Instead of rallies, each new announcement triggers further sell-offs. Why? Because investors are smarter than Washington. They know full well that this crisis is far too large to be ended by any one government or even all the governments in the world. Investors realize that all the king's horses and all the king's men cannot put our economy together again. That's why, despite $4 trillion in new spending schemes and guarantees, the Dow has plunged to new, 6-year lows. It's why every stock index in Asia and Europe has also cratered in unison. It's why gold — the world's crisis hedge of last resort — has once again shot for the moon; hitting $1,000 per ounce on Friday.<BR/>And it's also why even the perennially optimistic Ben Bernanke has discarded his rose-colored glasses, admitting in the latest release of the FOMC minutes that there will be no recovery in 2009.<BR/><BR/>Can you say the words "greater depression"? I knew you could.<BR/><BR/>What are you doing to prepare for it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-32208145181927749072009-02-22T08:07:00.000-08:002009-02-22T08:07:00.000-08:00Anon 3:44, re: hoarding goldSorry. I'm still not c...Anon 3:44, re: hoarding gold<BR/><BR/>Sorry. I'm still not convinced.<BR/><BR/>I'm sure that there are multiple and diverse strategies that people have devised and are now implementing in an attempt to move through this crisis unscathed, or with the least amount of loss as possible. Some will be successful, some won't.<BR/><BR/>I don't wish anyone ill, and I would prefer that it didn't happen. But the government is going to confiscate your gold down the road when our country has devolved further into its economic collapse.<BR/>History will repeat itself, or at least rhyme.<BR/><BR/>I'll stick with accumulating and saving as much USD as possible. And then, in the next 6 months or so, I'll go into INFLATION WATCH MODE. It could start in 6 months, 1 year, 2 years, 3 years or more. But when it does start, that is when I'll use my soon to be trash cash to acquire small stable businesses and income properties that will enable me to weather the incipient inflation cycle.<BR/><BR/>I'm hoping for a big window of time before the inflation begins so that I have time to amass more cash, build a few small businesses (cheaper than having to buy them), and further prepare myself in general for the new world we will be living in.<BR/><BR/>AIMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-51496715147074669072009-02-22T03:44:00.000-08:002009-02-22T03:44:00.000-08:00Anon on Saturday,21 @ 3:02:00 PM"Ok, so it i...Anon on Saturday,21 @ 3:02:00 PM<BR/><BR/>"Ok, so it is 2013, inflation has been ramping up, and gold is now worth $2,800 per ounce."<BR/><BR/>And in five years time there will be plenty of very good bargain properties on the market, so I sell 50 eagles at your quoted price [ you can save your self the wait and buy them off me now at that price .. :-) ] and buy myself a property at $140,000 which today (five years previously) was priced at $2,000,000. That seems like a deal to me.<BR/><BR/>Yes, gold doesn't pay a coupon. But where else today do you get a coupon?<BR/><BR/>If you had invested with Madoff or Stanford, you have been exposed to counterparty risk. With Gold the counterparty risk is much attenuated. I like an S&W insurance policy too.<BR/><BR/>Under some circumstances gold does appreciate - at least in fiat money terms. So I am seeing a significant fiat money appreciation in my investment. That will do instead of a coupon.<BR/><BR/>Three, Yes, I am prepared to sell my holding - the trick is figuring out when to do so. Then buy something else in the economy that might work hard for me.<BR/><BR/>I'll hold gold for the last five years sell it in three years and buy a property just as it has depreciated in value.<BR/><BR/>I have no particular attachment to Gold, it is doing the job I bought it for. I am very happy with its performance so far.<BR/><BR/>There will be a time to sell gold. I don't think that time is any time soon though.<BR/><BR/>Jim in San Marcos: "That spread sheet of yours will work with steak, chicken, eggs and Peanut Butter. 50% food inflation in 5 years.2<BR/><BR/>Sure it will, but my gold hord will let me buy some steak, chicken, eggs and Peanut Butter in five years too.<BR/><BR/>Hopefully, because I have horded gold mow, I'll be able to buy a cheap extra house - leading to a better rental return on investment, and some food too, in the future.<BR/><BR/>I fancy those anti gold folk who laugh at us folk who see a place for gold, are equally blindsided by the emotional dislike of a pretty good investment opportunity. These guys will probably be the guys I sell my gold to at $2500 /oZAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-66487529156424738492009-02-21T18:49:00.000-08:002009-02-21T18:49:00.000-08:00Hi Anon 11:52My rough calculations figure that def...Hi Anon 11:52<BR/><BR/>My rough calculations figure that defaults only have to hit 8% before credit cards lock up. There is two trillion of Credit card debt loans on the books. It is probably short term money. This money if called away could be a problem to replace, unless it had a very good interest rate.<BR/><BR/>It might be time for another Congressional bailoutJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-21087367917215709202009-02-21T16:42:00.000-08:002009-02-21T16:42:00.000-08:00News for all of you conspiracy theorists: There ac...News for all of you conspiracy theorists: There actually IS a conspiracy. Yet, it is NOT the IMF, CFR, the Bilderbergers, the Trilateral Commission, etc.<BR/><BR/>The enemy is not a secretive group. They are right in front of our faces. They are blatant in their presence and flagrant in their actions. The incredibleness of it all is why they are "invisible" to us.<BR/><BR/>Call them the International Bankers, The Creditors, The Financial Power Elite or whatever you want.<BR/><BR/>They are the ones that control and influence governments via the financial sector. They are the ones who own and control major national and international banks (they aren't out front, yet they may be on the board of directors of these banks). A few of them are connected to The Bank of England.<BR/><BR/>They influence government through many channels: loan them money; donate to campaign funds; lobby; bribe and give gifts to government officials; blackmail government officials; act as advisors to heads of state; get their people elected into government positions or set it up so that they are unwittingly doing their bidding for them (Rubin, Greenspan, Geithner, Bernanke, etc.)<BR/><BR/>They've influenced such circumstances as the US going off the gold standard in 1971... putting teachers into academia to disseminate the Keynesian Economic Theory... deregulation, such as Clinton repealing the Glass Steagal Act (allowing banks to move into investment, real estate, insurance, etc... getting interest rates dropped to "stimulate" the economy... using Wall St. and financial engineers to create the concept of "securitization of debt" (bundling and selling mortgages, auto and credit card debt to institutions)thus giving us derivatives, CDOs, etc... TARP I... Tarp II... Aggregator Banks... and on and on.<BR/><BR/>In this country they made a fortune over this last 7-8 year boom. Collapsed the economy as a result. Got lots of money out via golden parachutes, bonuses and exhorbitant salaries. Made themselves whole by taking in all this government bail out money, etc. etc. They win when the win and they win when they "lose".<BR/><BR/>They are now holding the US government hostage... "We need another 50 billion or we are going to go under and this will destroy the US economy". The govmt gives the lion's share of its bailout money to the banksters and just throws the public a bone.<BR/><BR/>Now they've destroyed asset values and are able to pick up banks and other companies for pennies on the dollar, enriching themselves further.<BR/><BR/>The reason the government is doing the wrong thing (spending and borrowing and attempting to stimulate consumption; instead of cutting costs, spending and borrowing and facilitating production) is because the banksters have them convinced that this is the way out. Their hidden agenda is to create yet another Bubble Economy by having the government inflate so that they can ride the wave again and get even richer. They make a fortune deflating and inflating assets and the economy. They've got most countries by the balls.(Remember what A. Rothschild said. "Give me control of a country's currency and I care not who makes the laws.")<BR/><BR/>We are a frog in a pot of water sitting on their stove and, because the temperature is gradiently moving towards the boiling point, we aren't even aware that we will soon be cooked... that means dead.<BR/><BR/>Until we get these International Banksters out of our government and financial system there is no hope of ever having a sane and prosperous society.<BR/><BR/>AIMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-2362998380728559752009-02-21T16:23:00.000-08:002009-02-21T16:23:00.000-08:00Hi Anon 12:53That spread sheet of yours will work ...Hi Anon 12:53<BR/><BR/>That spread sheet of yours will work with steak, chicken, eggs and Peanut Butter. 50% food inflation in 5 years.<BR/><BR/>As for Anon 9:38's choice of real estate rentals over gold it works good, it's not for everybody, you earn your money. <BR/><BR/>The thing to think about with real estate, is that it is visible and taxable. If the economy gets worse, the government could implement rent freezes while the counties raise property taxes.<BR/><BR/>If they can stop me from shorting Citi Bank, they can stop the landlord from raising the rent. There are places in LA and NYC where they've been doing it for 20 years already. Somebody once said that rent control was just as effective as a nuclear bomb going off--you get the same results, it just not as quick.<BR/><BR/>With the government changing the rules, foreigners are cashing in and leaving the game. I would suggest thinking twice about any assumptions about future investment plans.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-53633545700353290412009-02-21T15:16:00.000-08:002009-02-21T15:16:00.000-08:00Joseph, the following statement is FALSE:Heck, in ...Joseph, the following statement is FALSE:<BR/><BR/>Heck, in the 30s the govt prohibited owning gold, except for collectible gold, but offered a good conversion rate at the time into a sound currency.<BR/><BR/>Authorities raised the "official" price per ounce immediately AFTER confiscating the peoples' wealth (gold), effectively DEVALUING the dollar.<BR/><BR/>Gold has retained it's purchasing power ever since; the dollar has not.<BR/><BR/>Thank Congress and the Fed.<BR/><BR/>Read the Creature from Jekyl Island by Griffin.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-25465812277653916802009-02-21T15:02:00.000-08:002009-02-21T15:02:00.000-08:00Anon 12:53Ok, so it is 2013, inflation has been ra...Anon 12:53<BR/><BR/>Ok, so it is 2013, inflation has been ramping up, and gold is now worth $2,800 per ounce. So, you sell one of your krugerrands in exchange for 2,800 USD, which is the current price of the suit that you need to buy.<BR/><BR/>If you had a rental property you'd be able to buy that suit as well, from the $2,800 you accumulated in rental income. Plus you received tax breaks (depreciation) on your rental, which is more income. And you've earned more money in the form of equity from your rental property appreciating.<BR/><BR/>The amount of inflating dollars that equals an ounce of gold will also be in ratio to what the rent will be that you receive from your tenant.<BR/><BR/>I still say to heck with gold.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-51514990807802250782009-02-21T13:16:00.000-08:002009-02-21T13:16:00.000-08:00What an amazing people we are here in the USA:1.Ou...What an amazing people we are here in the USA:<BR/><BR/>1.<BR/>Our members of Congress actually sign powerful, far-reaching laws into action without ever reading or studying them beforehand (Patriot Act, TARP, Obama Stimulus Package).<BR/>2.<BR/>They continue to have a budget deficit EVERY year. They consider it NORMAL to be 400B or 600B over budget, when it should actually be treated as a dire EMERGENCY that needs to be prevented from happening again. They are happy that it only went up 100B from the year before. They do nothing to cut spending and streamline the operation so as to stay within budget.<BR/>3.<BR/>They receive a majority consensus from their constituencies on how to vote on an issue, yet they vote the opposite.<BR/>4.<BR/>They spend more time bickering and playing egotistical games across the aisle with all their partisan nonsense than they do being concerned with our interests and the good of the country.<BR/>5.<BR/>Many of them have terrible attendance records and don't even show up to vote on sensitive issues.<BR/><BR/>Yet we continue to re-elect them?! What is wrong with this picture?<BR/><BR/>What would you do if you were a business owner and you had a manager of one of your stores who acted in this fashion?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-32654351798113259942009-02-21T12:53:00.000-08:002009-02-21T12:53:00.000-08:00Anon @ 09:38"I think this gold idea is outmoded. I...Anon @ 09:38<BR/>"I think this gold idea is outmoded. It may have worked earlier in time but it won't now in this digital, electronic money age."<BR/><BR/>Hmmm.<BR/><BR/>Jan 2 2004 -$415.20 /oZ<BR/>Jan 4 2005 -$426.80 /oZ<BR/>Jan 3 2006 -$520.75 /oZ<BR/>Jan 2 2007 -$640.75 /oZ<BR/>Jan 2 2008 -$840.75 /oZ<BR/>Jan 2 2009 -$869.75 /oZ<BR/><BR/>Now imagine Gold by the ounce is worth no more today than it was on the second of January 2004.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-76399150450066292582009-02-21T12:11:00.000-08:002009-02-21T12:11:00.000-08:00Hi Anon 9:38Gold is what I call emergency money. ...Hi Anon 9:38<BR/><BR/>Gold is what I call emergency money. It can be converted to any currency quite easily. Gold is indestructible, it doesn't burn up or get eaten by rats plus the government can't print it (they would if they could).<BR/><BR/>The real question right now has gold increased in real value to $1,000 per ounce today? Or does the dollar purchase less now than it did before?<BR/><BR/>Gold when I got out of High School in 1964 was $32 per ounce. We still had silver coinage. So a real silver dollar today is now worth $14 or is it?? It will still buy 5 gallons of gas just like it did in 1964.<BR/><BR/>I agree gold pays no interest. I would never consider gold and silver as investments, just a security blanket.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-66389576516914947772009-02-20T23:52:00.000-08:002009-02-20T23:52:00.000-08:00The credit card situation is a dilemma. You want ...The credit card situation is a dilemma. You want to encourage spending to help the economy, but at the same time, more spending will mean higher default. <BR/><BR/>The default rate is heading towards 10%. That's $100B a year in bank losses.<BR/><BR/>Unless the government backstops the losses, banks will have no choice but to tighten credit. <BR/><BR/>The backstopping is well under way, otherwise everyone's credit line would have been cut to $1000.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-30664187400181715832009-02-20T23:20:00.000-08:002009-02-20T23:20:00.000-08:00Anon 7:36,Laissez-faire or “pure” capitalism has n...Anon 7:36,<BR/><BR/>Laissez-faire or “pure” capitalism has never really existed (perhaps because it’s a French word), because it implies total elimination of state interference. The government must be involved to provide protection against such things as monopolies, health and safety issues, minimum wages, etc. There will always be government involvement in a capitalist economy.<BR/><BR/>Freedom from government control as an entrepreneur or a customer is what makes our capitalist economy the greatest in world. What if the government restricted what you could build or purchase? What would be the purpose of creating a business if it was not profitable because the government set or controlled the prices? Free markets insure that products in demand are produced with the highest quality and purchased at the lowest possible price.<BR/><BR/>In my opinion, the government was <B>NOT</B> established to reduce risk, pick up the pieces when demand falls off a cliff, provide relief to companies/consumers who over extended themselves, or to provide insurance for failure. Its silly, but what’s next… is the government going to be saving every little kids lemonade stand because they failed to make a profit?<BR/><BR/>As the author points out, why build, purchase, or invest in anything right now if the government is consistently stepping in and changing the rules? <BR/><BR/>ATPAngryTaxPayerhttps://www.blogger.com/profile/15810684843880828263noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-42975571523253026332009-02-20T22:18:00.000-08:002009-02-20T22:18:00.000-08:00Jim,I learn from 98% of the comments brought up on...Jim,<BR/><BR/>I learn from 98% of the comments brought up on your blog. That's what keeps me coming back.<BR/><BR/>As for the other 2%, I try to ignore it... but a non-response to such outrageous attacks is an implied agreement with insanity. And in JO's case, I had to say my peace.<BR/><BR/>ATPAngryTaxPayerhttps://www.blogger.com/profile/15810684843880828263noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-68300256455468528832009-02-20T21:38:00.000-08:002009-02-20T21:38:00.000-08:00Many advisors say "go to gold as the hard asset" a...Many advisors say "go to gold as the hard asset" and your cash net worth will be safe from inflation.<BR/><BR/>Ok, so you buy gold. It has no return or yield at all. It just sits there and gleams. It doesn't give you an income stream or anything to aid your survival. It doesn't grow or appreciate. You can't eat it, wear it or live in it.<BR/><BR/>It's a store of wealth? What good is wealth if you can't use it?<BR/><BR/>I think this gold idea is outmoded. It may have worked earlier in time but it won't now in this digital, electronic money age.<BR/><BR/>I think you'd be better off putting your money into tools, tires, canned food, survival gear, copper pipe, ammunition, etc. etc. At least you could sell or trade this stuff for the things that you need.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-28240015782041722882009-02-20T21:21:00.000-08:002009-02-20T21:21:00.000-08:00Hi Angry TaxpayerLet me just step in and say that ...Hi Angry Taxpayer<BR/><BR/>Let me just step in and say that this guy Joseph makes sense and then at other times he doesn't. I can't quite figure it out. I'm beginning to think that getting agitated over anything he says, is not worth the effort. Bear this in mind when reading his missives. He quotes comments, attacks and goes off on a tangent. I am not sure what to make of it.<BR/><BR/>I'll let him have his say, but he could be pushing his luck. I have the delete key(thats a Republican joke, Democrats don't have a delete key--they want everything)<BR/><BR/>thank you for your comments, and take care.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-43245619580039256222009-02-20T20:54:00.000-08:002009-02-20T20:54:00.000-08:00"It's called greed! By those essentially saying "I..."It's called greed! By those essentially saying "I'm doing OK, screw those who aren't!" Really pathetic! When times get tough, it is best look out for "losers", if you insist on calling them that."<BR/><BR/>Dear Joseph,<BR/><BR/>I believe in helping ONLY those who can not do so for themselves (primarily those with disabilities and in natural disasters), but only through private non-profit foundations and organizations. Not through the government and definitely not with tax dollars.<BR/><BR/>How much do you give to these types of organizations annually? How many hours a week do you volunteer your time in the community? If the answer is a lot, then your with me. If your answer is none and you expect the government to be the one to do it for you then we disagree. Why can't we keep what we earn and distribute it to the ones who can use it the most wisely? <BR/><BR/>Instead of the government stepping in, why don't they just set up an organization that would collect voluntary donations from concerned citizens, like yourself? Simple... not one dime would be donated, well except for yours I'm sure. Joseph, how much OPM are you willing to throw at this before YOU decide its too much?<BR/><BR/>The "losers" I'm referring to are the ones who will continue for many years to pick up the tab in the form of inflation and heavy taxation. We are all the losers in this situation. <BR/><BR/>BTW, glad to see I have finally struck a string with you Joseph. Are you getting angry yet? If not, I'll keep trying. If so, good... Welcome to my world!<BR/><BR/>On behalf of the losers,<BR/>ATPAngryTaxPayerhttps://www.blogger.com/profile/15810684843880828263noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-32299957220707748232009-02-20T20:34:00.000-08:002009-02-20T20:34:00.000-08:00Hi Anon 9:50There is no reason to change the blog ...Hi Anon 9:50<BR/><BR/>There is no reason to change the blog name.<BR/><BR/>If you really study the history of the Great Depression of 1929, you'll find out that it was not accepted that we were in a depression until 1932. Figure that 2009 equals 1932 and you are right where you should be, bewildered and befuddled, hoping the government can save you.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.com