Operation Blood in the Streets

[CountryGent]

True that. We don't do debt. We're totally debt free and have been for a very long time.

While true, generally, that (idiot) national governments cannot default, they can devaluate or completely collapse. (I have a large number family in a society that did the former, repeatedly. And history is replete examples of the latter.)

 

[RicInOR]

Boomers Win Again: Old Americans To Inherit "Unprecedented Amount That Is Incomprehensably Large"

"Wealth equal to nearly two times the size of the U.S. GDP is expected to be gifted to charities and heirs over the next few decades."



Which will bring with it talk of the Death Tax again.


South Dakota Trusts. (or others)

 

[MannyGlocks]

Ha Ha!, said in my best Nelson Muntz voice.

 

[Legion489]

Explain how it got things so wrong and failed to indicate the Great Depression? And later the Great recession.

What part do you mean? The part where the Fed was feeding millions of dollars a day into the crashing market so their buddies could get out at the top of the market and to lure in the small investors who were totally wiped out, while the robber barons robbed us again?

 

[The Heretic]

Personal loans are 'growing like a weed,' a potential warning sign for the US economy

 

[nwslopoke]

I work for a large company that has invested a lot in machinery and hired possibly more people than I have seen in 20 years. I hear about recession but I don't see it. That's also what they say about ambushes.

Wish I was closer to retirement I could check out now. My house is not paid for but worth twice (on paper ) the price in moved into it if I sold it today.

 

[RicInOR]

Marijuana stocks soar as decriminalization bill passes House Judiciary Committee; bill still needs to be approved by House and US Senate (More)

 

[The Heretic]

I work for a large company that has invested a lot in machinery and hired possibly more people than I have seen in 20 years. I hear about recession but I don't see it. That's also what they say about ambushes.

Wish I was closer to retirement I could check out now. My house is not paid for but worth twice (on paper ) the price in moved into it if I sold it today.

I work for a large world corp (about the 5th to 10th largest in the USA, in the top 20 in the world, depending on who you ask) that is also one of the older ones - about 300k employees. A presence on every continent, many of them manufacturing plants. Their product is everywhere - you see them every day. The division I work for is one of the largest, the leader in the both N. America and the world, is both driven by and drives the US economy (both figuratively and literally - and no, not a tech co).

Right now? Hiring freeze both here and worldwide. Both new and backfill. HQ is cutting high level manager positions due to profits being way down worldwide.

Freeze not totally unusual (cutting manager positions seems unusual to me), especially this time of year, but because the economy itself impacts our sales, this time around they are waiting to see what will happen next year - anticipating the likelihood of a slowdown or even recession.

 

[nwslopoke]

My guess is either one of these companies guessed wrong or one is the gold miner and the other is selling pick axes.

I have just enough saved to retire poor but I can still retire, if the economy doesn't blow up. If it does, it's back to ski maskes and a fake Bulgarian accent.

 

[revjen45]

"I have just enough saved to retire poor but I can still retire,..."

The fact that you can doesn't necessarily make it a good idea. Believe me - I think retirement with sufficient assets to make your nut is the closest there is to bliss, just so you know my biases on the subject. We (we = Beloved Wife and me) have had occasion to observe a number of people who made the decision to retire based on some incorrect assumptions and unforeseen happenstance. Most of the folks who retired early (i.e. before F.R.A.) ended up in less than desirable circumstances.
The fact that you can but don't have to gives you more time to prepare, both in terms of what you can salt away, and the research that will keep you from having ugly surprises. We did a lot of planning for years before we retired, so we weren't surprised that you are required to go on Medicare @ age 65. A lot of the people at the Boeing union retirement planning shindigs thought they were just going to keep cruising on the Big B's generous and affordable medical benefits until the big dirt nap. They were gobsmacked when they found out it ain't so. Our neighbor was surprised when my wife told her that she would have to pay for Medicare and the supplemental insurance.
Just sayin'... if you can stay at it and keep building your nut it's a good idea. The folks who settled for less when they retired early regretted it.

 

[The Heretic]

You don't have to go on Medicare at 65 if you are still working and have qualifying insurance.

 

[cookie]

I believe that OP is talking about a 1/2 fall like 2008, not a Full fall like 1928.

The best thing to have in a 1/2 fall is lots of liquidity(cash in the bank), unfortunately, you will be profiting from someone else's misfortune.

Example. A guy owns pays on his mortgage 20 years and has 10 years to go. He is laid off, and his house is foreclosed. You can purchase his house for 1/3 its value, because he already paid 2/3.....and got nothing.

There will be opportunities out there, you have to decide what your conscience will let you do.

The house could have been paid off in 15 years.

 

[CountryGent]

The house could have been paid off in 15 years.

Well said. Priorities.

 

[The Heretic]

Daimler to ax at least 10,000 jobs in latest car industry cuts

Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales.

www.reuters.com

 

[bikemutt]

One of us retired 2.5 years ago, the other (heh) will retire next year. Our primary strategy was zero debt, which we achieved. True no one can get out from property taxes, insurance, water, power etc, but those have been accounted for. And yes, you never know what can go wrong, that's why we have savings and hope it's enough to cover "the big one".

One huge megaforce coming down the pike is the boomers are croaking in record numbers, keep an eye on housing in the sun states like NV, AZ and FL, houses gonna get real cheap.

 

[The Heretic]

 

[ma96782]

Speaking of BLOOD IN THE STREETS.

Just this morning....... London shut down "London Bridge" because of a "terrorist stabbing incident." Jeez.....whatever happened to the UK's anti-knife campaign?







Aloha, Mark

 

[RicInOR]

Records Set, Billions Minted: Will Be Hard to Top 2019 Stocks...

 

[The Heretic]

Records Set, Billions Minted: Will Be Hard to Top 2019 Stocks...

On October 9, 2007, the Dow hit its pre-recession high and closed at 14,164.43. By March 5, 2009, it had dropped more than 50% to 6,594.44.

When and Why Did the Stock Market Crash in 2008?

The 2008 market crash was one of the Dow's steepest point drops in history. It occurred on September 29, after Congress rejected the bank bailout bill.

www.thebalance.com

 

[bikemutt]

This is why we "invest" in Certificate of Deposits only; we never get any good news, we also never get any bad news.

I turn 65 next year, I can't work myself out of a financial disaster any longer. What I can do is live within my modest means and sleep well at night.

Everyone's personal situation is different of course.