To be fair, I think you are in a position that 98% of the 'mum and dad' investors out there are not. I don't doubt you'll make money whether the market is up or down and that's a compliment. But what I am more concerned about is the multitudes of ignorant people out there waving debt around like a loaded shotgun assuming that simply because they have skin in the game and the government will protect them no matter what, they're immune to what lies ahead. There's a LOT of very stupid money out there at the moment, I do not count you as one of them. But I do raise real concern at the ongoing attitude in this country to belittle and ostrasize the core of any stable economy - savers. Looking at where this road leads today, I can't laugh or make jokes about it. Some really good people, the backbone of our society who have had to carry the weight of an ignorant, selfish majority will be sacrificed to protect a system that's destroying the whole economy around them. Even worse, the media, politicians and vested interests will deem this process an essential outcome to protect the greater good.
If you think saving is the ONLY way to go then make more money & save more . Its fair to say that saving is a very slow way to get where you want to go . You might want to cash in those savings on a better plan
Money in the bank is not savings. The interest rate in most investment accounts now even before tax is lower than the real inflation rate. In 2012 being a saver = being a mug who is propping up the banking system. If you have savings you have two choices - find a way to use that money to work for you, or leave it in the bank or in a jam jar or whatever and let it disappear like "tears in the rain".
If you can find that in the post i replied to your a better man than me or is that what you read into it & not what was written ?
?? I quoted you I quoted Aus except I replaced "savers" with "savings" - you can't have one without the other.
I didn't say that. I'm saying there's no capitalism without capital. What we have now is a fake economy based on debt (credit) that requires endless growth to remain viable. When you reach the debt load capacity, there's nothing left to prop it up and it collapses. That's not opinion, that's economic fundamentals. Open a history book and see the results first hand. Now the assumption that you have to earn more to save more insinuates that in order to get ahead you have to get your hands on more wealth than what someone else can borrow and bid in a protected gambling market. That's dangerous thinking. But it's a small play in a larger picture. We have created an economy not based on real wealth creation, but a ponzi scheme and we accept that it's fine to continue to beat down those who refuse to participate whilst upholding those that do. The economy NEEDS savings to bolster the bottom line. Without it, you need to rely on fake accounting, fraud and debt to prop up an illusionary system. It's not the principle of capitalism and a core reason why our system is so unstable and collapse is inevitable. For those who were able to work this system to advantage, it's been a swell ride. For those who come in the bottom, like any pyramid scheme, are the ones who WILL get burned. The question is, just how much longer can the current system keep going before it collapses and when it does collapse, who will pay the price for it's failure? Those at the top or those at the bottom trying to play the rigged game? What of those who went for the third option, and stepped aside? What if the saver, recognising the corrupt nature of a zero sum game instead moved their wealth outside of the pyramid scheme and removed themselves from the third party counter risk, knowing that all paper assets will become null and void if you can't time the transition from paper wealth to tangible assets? You think everyone will get it right? Of course not. Reno, I'm not a gambler. I know the house is rigged and like any sensible person who doesn't walk into a casino, I have what little I have outside of the paper paradigm because I know where it's headed. Yes, I won't have as much as yourself or NR, I recognise & appreciate that. But what price will you put on a few hundred ounces of silver when paper is worth nothing? You think there will honestly be time for people to 'get out' of paper assets when the inevitable happens? Are you good enough to time that market event? The 2008 flash crash says to me 99.99% of the population wasn't. Something to consider...
