Lila64
Blue Crack Distributor
We need to start buying up commodities that we can use to barter in the place of money...
I'm stockpiling spices and water!
Don't forget to stock up on Campbell's Soup
We need to start buying up commodities that we can use to barter in the place of money...
I'm stockpiling spices and water!
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''
``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''
Don't forget to stock up on Campbell's Soup
Happening right before our eyes...
Yes, before you guys corrupted it with Fannie Mae.
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Various alcoholic drinks should be stocked up as well - they can be bartered for almost anything in a crisis.
This has happened ...as recently as 2002-2003
This has happened over a dozen times since 1929 (as recently as 2002-2003), and every time many think it is the end of the world. The way I see it, you have two options:
1) Buy stock now. If it truly is the end of the world - what does it matter?
2) Buy stock now. If it is not the end of the world - you stand to make a good killing as the market recovers over the next 5 to 10 years.
This has happened over a dozen times since 1929 (as recently as 2002-2003), and every time many think it is the end of the world. The way I see it, you have two options:
1) Buy stock now. If it truly is the end of the world - what does it matter?
2) Buy stock now. If it is not the end of the world - you stand to make a good killing as the market recovers over the next 5 to 10 years.
A lot of people are selling because they can't handle the huge debt they have and they want to clear it off as much as possible.
The notional value of the credit derivatives is several trillion (maybe hundreds of trillions) dollars.
They have been called a 'ticking bomb' by Warren Buffet and Bill Gross.
A good article from last March:
http://www.marketwatch.com/news/story/derivatives-new-ticking-time-bomb/story.aspx?guid={B9E54A5D-4796-4D0D-AC9E-D9124B59D436}
However, ironically, once the dust settles, they have placed into our lap the greatest financial opportunity in our lifetime.
What I don't understand is how shit our AUD has gone? We've dropped 30 cents to the US dollar in 3 months, and I am just kicking myself for not buying some us dollars when i thought about it at 98.45 us cents. Why is the us dollar so strong against us when they're the one in the shit? Why the hell are we tanking again. I am moving to the UK. thank you aussie dollar.
Buy stocks while there really fucking cheap right now!!!!!
And Mr. Buffet is on a buying spree.
Buy stocks in good companies like GE and yes, Goldman Sachs. Heck, I even bought a few of Fannie Mae because it was for pennies (just in case). Buy and hold these stocks.
Traditionally, stocks sell for a P/E of 15 or 20 or much higher. When good companies dip below a P/E of 15 - buy, buy, buy. That is what Buffet is doing and how he made billions (us little folks can at least build a decent nest egg out of this mess). GE is a now at a P/E of 10. GE is famous for great management and solid fundamentals. They have $170 billion in sales a year.
Again, the fundamentals are being forgotten in a panic. Right now, there is a panic.
Buffett got a special deal with GE and Goldman - a 10% dividend on preferred shares callable at a 10% premium. The general public does not have access to those terms.
What I don't understand is how shit our AUD has gone? We've dropped 30 cents to the US dollar in 3 months, and I am just kicking myself for not buying some us dollars when i thought about it at 98.45 us cents. Why is the us dollar so strong against us when they're the one in the shit? Why the hell are we tanking again. I am moving to the UK. thank you aussie dollar.
The US$ strength is actually much to be expected, as the US$ is historically a currency of refuge in times of economic crisis.