'Panic situation' - Asian stocks tumble amid fears of global recession

What will happen when China opens after the Lunar New Year holidays next week?

 

I hope it happens......So sick of waiting for the SHTF.

 

Lol - and what exactly are you going to do when the SHTF? Celebrate?

 

Laugh at all the people who lose there jobs/houses and end up in the same position as him.

 

100%.

People just don't think of the consequence, they stupidly think that Precious Metals will make them rich. Greed truly blinds people to the reality.

The world will get worse not better and those with power will gather more.

 

Anyone who thinks PM's can "make them rich" is an idiot.
Even if you took the biggest growth peak in gold in the last 40 years, from 2001 to 2012, it's only a 720% increase.
Even $100k in gold and buying and selling at exactly the right time would have yielded you only 7.2 times your money (not accounting for inflation), or $720k which would barely have bought you a decent house in Sydney in 2012.
Silver did a tad better at x10 return.

 

Well I don't care if you think I'm an idiot when I get wealthy from the metals, you can call me 'stupid rich' at that point if you like

 

O.k I apologise for that comment and I don't 'hope' that the SHTF happens.

It's just that talk of this coming crisis has been around for years now and it never actually happens.

 

So what sort of return from your average buy price do you expect will "make you rich"?
10 times?
100 times?

 

I hope the property market corrects big time, people need to be taught a lesson. There are way too many new "investors" that think property only goes up.
People losing jobs though sucks.

 

Disaster porn provides us with dreams of an escape from the deep and often unrecognised existential pain of our fundamentally empty lives in a cold, meaningless universe. Life is suffering and we find some solace in fantasies of a world washed clean of civilization and returned to an idyllic pastoral utopia that never existed and never will.

 

[youtube]http://www.youtube.com/watch?v=p4m-lNi61Rk[/youtube]

 

Define rich? You obviously have a figure in your head.
So if one was only an half rich or an quarter rich, would by your calculations, an 720% increase make them rich?

 

You can't measure something in multiples if it starts in one currency but ends in a different currency

 

Probably not having to work if you didn't want to?
Ok, let's say you are in the excellent position of owning your own home and you have say $100k invested in PM's and you bought and sold at exactly the right time for a x10 return to give you $1M from your $100k.
(and BTW, if you don't own your home and you have $100k invested in PM's then you are a fool for not putting it into your mortgage and getting a guaranteed compounded return)
Ok, that's makes you pretty "rich" and you could live comfortably for at least a decade without working before you have squandered all your spoils. A pretty good position, but how likely is it?
And this is the fallacy of PM's making you rich. You must buy and sell at exactly the right time, and you must have enough invested in thefirst place at the bottom price, and then wait for once in 20 years boom to get your x10 return.
There have only been a grand total of two x10 return booms in PM in the last 40 years.

I think your odds are much better of getting x100 return on some speculative stocks than getting x10 on PM's. x100 return on PM's has never happened in our lifetime, but occurs regularly on the stock market.

 

Who's talking about that?
I buy and sell PM's in AUD only, and I live in Australia only paying AUD for almost everything in my daily life.
The only thing that matters to "make me rich" is how much return I get on my PM investment in AUD, and in what time frame, and in what reference frame of inflation.
If you are in some hyper-inflation country YMMV.

 

The price of the metals are based on a trading platform based on the petro-dollar, who knows if we will still be using Australia dollars if/when the petro-dollar losses world reserve status? I never bought the metals for the small moves, your correct in saying those sort of moves will never make you rich, what will is when a re-evaluation of global debt is done. I expect a major revaluation of the metals at some point, but who knows the time-frame on that? a year, a decade, 2 decades? Whenever that does happen though you wont need much to be rich, however the world might be in such a bad state that you may be rich but have little freedom.

 

In the worldwide deflation/depression that has started, you gain by not losing. For me, any nominal increases in wealth are far less important than a relative increase in wealth from investing in things that are not declining.

 

We have to look out and help each other mankind is connected, the indigenous peoples know often to respect and value our earth, that's also what we are made of.

On wkend I attended a disabled surfers function, 20 people not just riding wave after wave themselves but taking some time to join 20 or so others help one disabled person catch 1 or 2 waves, guess who benefits most?