Quote:
Originally Posted by The Demon
Good lord, you have NO understanding or grasp of economics. If the economy crashes, you're not getting anything at "pennies on the dollar", unless you foolishly think we're going to have any kind of Great Depression deflation, or any deflation for that matter rather than inflation and hyperinflation.. In which case, you won't get anything at "pennies on the dollar" because your dollar will be worth pennies. Educate yourself, then buy precious metals.
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ok dummy...
i have been buying places out of foreclosure for 25% of what they sold for 3-5 years ago..
the banks have finally figured out that holding them is no longer an option...
i guess i need to expand my explanation for the naysayers..
i dont think we are going to have an economic collapse, but i do think that home prices will continue to go down.. buying at 25% assures me that even if the market drops 50% from 3-5 years ago, i will still be just fine...
since gold is no longer backing the dollar, i dont think precious metals are immune from a bad economy..
until the dollar no longer becomes the preferred currency, it will never become worthless..
too many other economies are dependent on the US and so when the US goes down, the rest of the world goes down..
your opinion is your own and i wont bash it, but lets just see in 10 years where my current investing strategy lands me..
i am very confident i will be in great shape...
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