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Money Matters
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Old 06-25-2013, 01:35 PM   #1
mcr_driver
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Thoughts on this...

http://moneymorning.com/ob-article/s....php?code=3243

After reading this article and a couple of quick google searches what is e46 finances take on the man and the matter? Is he full of himself or is there some basis to his premise?
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Old 06-25-2013, 02:09 PM   #2
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I've said it before and I believe it still stands true in regards to Peter Schiff.....a broken clock is correct twice per day.

Also, as an important note, that entire article was basically one big ad for his new book.
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Old 06-25-2013, 05:40 PM   #3
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Yea noticed that Thus why I googled a bit further.
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Old 06-26-2013, 05:27 PM   #4
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The US financial situation resembles one large ponzi scheme. It's not sustainable and one day (however close or far away) it will get ugly. Really, really ugly. But don't worry, WW3 will pull us out of that mess. I just hope I'm alive to see the positive outcome on the other side.
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Old 06-26-2013, 05:55 PM   #5
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Quote:
Originally Posted by WerksM3 View Post
The US financial situation resembles one large ponzi scheme. It's not sustainable and one day (however close or far away) it will get ugly. Really, really ugly. But don't worry, WW3 will pull us out of that mess. I just hope I'm alive to see the positive outcome on the other side.
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Old 07-02-2013, 04:19 PM   #6
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Hope you're good with sticks n stones after WW3 that may be all we have left to work with
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Old 07-04-2013, 01:02 AM   #7
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Re: Thoughts on this...

Based on the federal advisory meeting minutes from may, its basically unanimous that interest rates must rise. Late May, rates rose a point and that served as a catalyst for a stock market correction and all this other bad economic news comes out. Bernanke spends a good amount of time saying that rates will stay down for another year just to calm people...its not a good outlook when the economy is this sensitive.

The government is also drugged up on the profitability of Fannie and freddie due to the artificial growth in real estate from such low rates, but as soon as real estate takes a dive (which will happen as rates rise), losses will be on the backs of the citizens. Let's just hope that these portfolios are conservative enough this time around (I'm weary about FHA...otherwise I think there's much less risk than before).

Knowing all this, I'm personally going to keep on investing in short term opportunities and will try to get into real estate for monthly cash flow on the side. Worst case, I don't break even on my rental for a year or two. Honestly, how can anyone prepare for something like this? Invest in gold and give up one's profession to grow and harvest vegetables?

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