Originally Posted by nitestalker
Company stocks will be a bargain. I will borrow all these inflated dollars I can get and add to my current investments. If my Grand Fathers had done that during the Depression I would be a rich Big Game hunter.
Problem is they ran scared and voted for FDR.
Originally Posted by TLuker
Now that's a plan! If civilization collapses then you're not out of anything because the money was worthless anyway, but odds are civilization isn't going to collapse because the dollar crashes. There have been many many currency crashes and life went on.
That's just a really good practical approach to dealing with a bad situation. Be patient and turn lemons into lemon aid. I'll have to keep that in mind.
I told people all throughout 2007, hinting very strongly to my parents (I'd only been out of the service for a year, and was completely starting over from scratch) "right now would be a PERFECT time for anyone with a little cash to buy a ton of cheap stock."
What'd my mom, step dad, grandparents, and dad all do? Sat back and bitched and moaned about how their (mostly stock based) retirement plans were losing money, and took absolutely NO aggressive action to recover with WITH the market.
This is very simple when you want to build money quick and easy. When the bottom falls out, buy what you can, as cheap as you can.
My mom asked me "well would YOU do with 10,000?" (In a very sarcastic way, knowing I was currently too broke to even wipe my ass) I sat down and told her exactly what stocks I would buy, and how much of them I would buy. I don't remember what they were, but about a year ago I looked at the list again and compared my choices to the current market value. The gains would've come out to something like 2 million IIRC. That's a hell of a return on investment.
If you know the system isn't broken, but only merely hurt, then it WILL recover, at least to an extent. No point in not taking advantage of it.