Quote:
Originally Posted by videosc
I keep hearing how our economy is going to crash at any moment and any money you have in the bank might be useless and/or unavailble for awhile.
If any of you buy into this, where are you storing your money now?
Gold? Overseas? Your mattress?
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Normally the fed lowers interest rates a shitload to make your return on saving money lower, it encourages spending. And of course, morons go into debt because of the lower interest rates and spend spend money they don't have. Then we are out of a recession. This time is different because there is so much bad debt out there lenders might not lend to idiots. If that is the the case their undisciplined spending will not take place. Therefore we will not have inflation and your money in the bank will not lose value (it also means there will be no quick fix to get out of the recession). It could actually deflate. If you talk to a Realtor the house market is coming around right now, lol, I bet houses go way lower in the next year.
That theory does not consider our president has been worse for the economy than maybe any other in our history. We are fucked long term. While I think your dollar in the bank is safe you might make more investing in a foreign currency for a year until the house market hits rock bottom and you can steal one... or five.