Economic Tsunami??

pixiie

pixiie

New Member
Hey all,

Just hedging your thoughts on this idea: (as listed below)

http://www.couriermail.com.au/life/...lian-real-estate/story-e6frequ6-1226134204439

I apologize for not being a massive nerd in economics, but I am slowly learning (blame all my graduate nerd studies on those damn terrorists!), but I don't know who to believe these days. Some argue there won't be a second GFC, others say, we're on the cusp, it's coming - from my understanding and readings many have argued metals is the money, not paper notes and fiat currency - so who is telling the truth? Is there any particular school of economic thought that has most merit (i.e, the neoliberals vs the socialists vs the realists vs the conservatives etc) and can we distinguish these 'economic forecasters' by these descriptions and help to ascertain which side of the coin so to speak, are they on?

People keep saying not to buy a house now - which has totally stopped me in my tracks....but I am now debating, should I invest $20k in metals instead or keep it in the bank for the 'show of savings' BS when it does come down to loan time (which now wont be for a fair while)? How can I show the true value of my investment in bullion and how is it measured in terms of lending? and what kind of weight does it carry...so much confusion!
 
Dent's demographic observations are interesting and his predictions of those changes on various economy's output have merit. Nonetheless, he's an economist with appalling market accuracy. I was reading him in the 90's with his Dow 50K predictions. He was wide of the market in that instance and I believe his gold and silver predictions (if they were his predictions and not a news corp manipulation - yes I believe everything I read LOL) in that article are also wide of the mark. I'll stick with the Eric Sprott's and Jim Sinclair s of the world and their predictions. They have made serious money with superb track records. Dent's calling is an economist - part of a dismal occupation with no foresight. Follow success and their activities...

Good luck

BG
 
Dent is okay on some stuff. In his other book however he predicted dow jones hitting 40,000 before it peaks and collapses.

So, yeah he had his wins, he also had his fails.
 
Hi Pix,

Put it into GOLD sit back and relax.Its not the right time to be buying houses you'll know when it is and then pick the eyes out of the market.

The last place to leave money is in the bank!
 
PIXIIE.......i aint no economic nerd either far from it but.....Dont worry G and S have a long way to go....UP!
Why did u start stacking?? Remind yourself of the reasons that brought you here. Hopefully not to make a quick buck :) but rather to make some gains and also preserve your wealth. All the dollars created in the boom are going to find the safety of Gold IMHO not anything US!!
That report is a joke. US Debt, EU debt, Japn debt etc etc aint going away any time soon so keep stacking.
House prices will still fall as we are already witnessing. How low? Who knows?
Sure G and S might dip a little but hey just buy more. Put your money into G and S. Thats the safest bet that i know of.
I do believe a crash is coming. That i do agree with. A BIG crash. but not in G and S. Silver will once again become a very very precious metal. I have no Economic expert to point you towards who said that but thats just what i believe. Thats why i stack.

STACKS ON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :)
 
I started stacking for the SHTF moment, and to have an investment that was in my eyes, relatively stable and not tied up in the global banking system per se - i just bought a 10oz Dragon today.;...oh i can't wait to see my new precious :)
 
Pixie - remember to get as many ounces as you possibly can.

and if you have not already done this - read Mike Maloney's book on investing
 
pixiie said:
People keep saying not to buy a house now - which has totally stopped me in my tracks....but I am now debating, should I invest $20k in metals instead or keep it in the bank for the 'show of savings' BS when it does come down to loan time (which now wont be for a fair while)? How can I show the true value of my investment in bullion and how is it measured in terms of lending? and what kind of weight does it carry...so much confusion!
Click to expand...

Don't let confusion turn into fear, calm it down with knowledge.
Have a read of Steve Keen, what he has to say on the Australian Housing Bubble should put your fears to rest about not buying at the moment. The sane level of debt by world's standards is don't borrow more than 4 times your yearly income and consider if you would like to have 1 parent stay home with the kids. It's the people inside the house that make a home not the bricks. The N.S.W government has just stopped the no stamp duty for first home buyers, to come into effect in Jan 2012 (not totally sure of the date on that one). What are they trying to do? Do they know what they are doing and the consequences of this? Are they trying to pull the whole market down gracefully instead the top end drop that were seeing? Are they just out for the extra revenue? Here's something that you can check, ask your local real estate guys if they are taking a fixed price or commission on the sale price? I fixed rate implies they expect the prices to be dropping. Don't listen to a thing that they have to say about prices, the hallucinogenics haven't worn off them yet, they're the flip generation.

http://www.debtdeflation.com/blogs/
 
Yeah thanks a friggin lot US 'expert' our house is on the market and the last thing we need is for you to be splashed all over the papers and news telling everyone NOT to buy! Then I jumped online to check out the 7 local news coverage of this US 'expert' only to hear him say to put all your money in the BANK but I also looked over to see a HUGE Commonwealth bank advert! My God I hope we sell our house :(
 
ajentjay said:
Yeah thanks a friggin lot US 'expert' our house is on the market and the last thing we need is for you to be splashed all over the papers and news telling everyone NOT to buy! Then I jumped online to check out the 7 local news coverage of this US 'expert' only to hear him say to put all your money in the BANK but I also looked over to see a HUGE Commonwealth bank advert! My God I hope we sell our house :(
Click to expand...

Good luck! I know this may sound stupid, but try lowering your asking price? Neighbours started at $1.25m 4 months ago on advice from real estate, then went to $1.18m. No bites. I think they will gladly accept $1m now. Should have priced well to start with before the house was stale?
 
ajentjay said:
Yeah thanks a friggin lot US 'expert' our house is on the market and the last thing we need is for you to be splashed all over the papers and news telling everyone NOT to buy! Then I jumped online to check out the 7 local news coverage of this US 'expert' only to hear him say to put all your money in the BANK but I also looked over to see a HUGE Commonwealth bank advert! My God I hope we sell our house :(
Click to expand...
Good luck with the sale.
 
Yes good luck with the sale!

Just got Moloney's book 2 days ago and haven't put it down. In fact, if I didn't have to work and then come home and study I would've finished it that evening, but alas, sometimes real world has needs to.

Either way, it just toppled my whole brain over. As mentioned earlier, prior to this I really had NO clue about economic matters, I am a social sciences student :) I've been trying to read as widely as possible to gather differing views and ideas but Moloney explains it all so well and in language noobs can understand.

Suffice to say, I went to bed after getting halfway through the book, and woke up the next morning and agreed to my husbands initial request to take out the bulk of our savings (stored in the BANK) and invest in more 'precious'....

I was going to buy from the Perth Mint today but got put off the price of shipping and postage. That's one week worth of rent (slightly under actually at $293.75). I figure I am going to call the lady from the Gold Coast and just head there tomorrow after work if there's not so much traffic in Broady. Alternately I also looked at Bullionmark and considering the shipping fee from PM it's really quite reasonable in comparison. As someone mentioned in other post though, the guzzle my v8 will drink to drive a few k's out the way on my way home though just means more money to invest in more precious :):):)

I think my 10oz dragon is here - i got a special red card in the mail today - Mr Postman has been sweet and put my precious in a safe spot. Can't wait to see it!!!!

I SERIOUSLY HAVE STACKING FEVER!!!
 
pixiie said:
Suffice to say, I went to bed after getting halfway through the book, and woke up the next morning and agreed to my husbands initial request to take out the bulk of our savings (stored in the BANK) and invest in more 'precious'....
Click to expand...
Whilst there may be times that you will have doubts about your decision to retrieve your property from the banks, in the long run, you will be more than glad that you took the approach that you did. Congratulations!
 
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