World economic collapse

[Astro14]

Originally Posted By: aquariuscsm

Read my edited post. I typed "buyer's market" by mistake. I meant to type "seller's market". He's definitely no moron. He has a few savings accounts with several hundred thousand dollars in each. He knows how to cost cut and save money like no one I've ever known. He's telling us to wait and buy a house once it becomes a buyer's market again.


I see the edit and rescind the "moron" assessment...but remain unimpressed.

Several hundred thousand dollars collecting almost zero percent interest? That's a huge opportunity cost. That money could make him quite wealthy if properly used...so, unless it's part of a larger portfolio, he's still not particularly bright with money...

 

[aquariuscsm]

Originally Posted By: Astro14
Originally Posted By: aquariuscsm

Read my edited post. I typed "buyer's market" by mistake. I meant to type "seller's market". He's definitely no moron. He has a few savings accounts with several hundred thousand dollars in each. He knows how to cost cut and save money like no one I've ever known. He's telling us to wait and buy a house once it becomes a buyer's market again.


I see the edit and rescind the "moron" assessment...but remain unimpressed.

Several hundred thousand dollars collecting almost zero percent interest? That's a huge opportunity cost. That money could make him quite wealthy if properly used...so, unless it's part of a larger portfolio, he's still not particularly bright with money...


I'm really not sure what kind've accounts they are exactly. I was using the term "savings accounts" rather loosely. No college degree,been a factory worker all his life,and always pays cash for everything. Bought 5 houses when the bottom fell out and rents them out. Never raises his rent and has had the same tenants for years. Never pays interest at all,always knows his way around it. Lives a very simple lifestyle and never blows wads of cash on unnecessary things. He and her mom are both retired and living very comfortably,and has zero debt.

 

[Astro14]

Folks could learn a lot from him....

 

[eljefino]

Originally Posted By: aquariuscsm
rker all his life,and always pays cash for everything. Bought 5 houses when the bottom fell out and rents them out. Never raises his rent and has had the same tenants for years.


That's how you do it. And if you get loyal tenants that know they're getting a screaming deal they'll take care of the property... plus of course you'll be at full occupancy.

 

[Nebroch]

Originally Posted By: aquariuscsm
Several hundred thousand dollars collecting almost zero percent interest?


What's your suggestion how to use it in this environment?

 

[CT8]

Originally Posted By: Merkava_4
Originally Posted By: CT8
If the world ends what can you do? it is beyond our control. The more you have the more you will lose. Can't take it with you anyway.


There are some things we are in control of and that's our lives. If the government or some terrorist organization tries to pull me out of my home at put me in a detention center, they'll have to kill me.
They will.Many will go like the German Jews that went to the oven like sheep,others will fight to the death taking the government scum with them.

 

[Mr Nice]

Originally Posted By: Nebroch
Originally Posted By: aquariuscsm
Several hundred thousand dollars collecting almost zero percent interest?


What's your suggestion how to use it in this environment?


Really none of his business since it's not his money collecting dust.

 

[SatinSilver]

Originally Posted By: eljefino
That's how you do it. And if you get loyal tenants that know they're getting a screaming deal they'll take care of the property... plus of course you'll be at full occupancy.


Especially the ones that hook up a hose directly to the hot water tank to wash their cars during the winter.

 

[Nebroch]

Originally Posted By: Mr Nice
Originally Posted By: Nebroch
What's your suggestion how to use it in this environment?


Really none of his business since it's not his money collecting dust.


Yes, but I don't personally think that cash is a bad option when deflation is starting to show up here and there..

 

[eljefino]

Originally Posted By: satinsilver
Originally Posted By: eljefino
That's how you do it. And if you get loyal tenants that know they're getting a screaming deal they'll take care of the property... plus of course you'll be at full occupancy.


Especially the ones that hook up a hose directly to the hot water tank to wash their cars during the winter.

Ya gotta show pride of ownership... in this case I was proud of my cutlass ciera.

 

[aquariuscsm]

Originally Posted By: satinsilver
Especially the ones that hook up a hose directly to the hot water tank to wash their cars during the winter.

AWESOME!! That's actually a good idea,I've never thought of that :^) I've always bundled up and worn rubber gloves and suffered (on those 1 or 2 days that it actually freezes here)

 

[Benito]

My hot water tank is in a perfect location. I need to remember to turn the temperature down so I can hook it up to the pressure washer. That would be awesome.

 

[PandaBear]

Recently I learned a lot about "economy" from a few investment bankers and bond traders. Basically what they are telling me is that at USD is backed by petroleum, which means it also is the international reserve currency (Japan and China own a lot of Treasury Note). When things go south we will drag the rest of the world with us, so the rest of the world will bail us out.

Every single ME dictators that got dragged out of power, got that because they tried to trade oil in non US currency......

What then when we QE? We force the rest of the world to QE with us. So right now China is having debt to GDP ratio way above any other nation and fuel the growth via construction boom. If there is any bubble to pop and collapse the world economy, it would be China.