Is the economy really as bad as they're saying?

[VonBonfire]

I guess it just depends on your particular situation, same as it's always been.

True. Its just that as people who ride the margins so we can do more of what we want and less of what we dont, we are negatively affected by the rise of core costs to the tune of 200 to 400 bucks monthly. How much higher will that number go before harder choices will need to be made? In my case, not that much higher.

Now imagine those people who arent riding the margins by choice times how many millIon people and it seems apparent that there are bigger problems, even for those on the lower end of the 1%, on the horizon.

 

[Geo]

True. Its just that as people who ride the margins so we can do more of what we want and less of what we dont, we are negatively affected by the rise of core costs to the tune of 200 to 400 bucks monthly. How much higher will that number go before harder choices will need to be made? In my case, not that much higher.

Now imagine those people who arent riding the margins by choice times how many millIon people and it seems apparent that there are bigger problems, even for those on the lower end of the 1%, on the horizon.

Sorry but I have some bad news for you. The gobernment has not done anything to curb spending. The Fed's only choice is in print LOTS more money.

Inflation is going to get way worse.

Technology and logistics can help keep the prices of food down but taxes, insurance and just about everything else is going to skyrocket.

 

[VonBonfire]

Sorry but I have some bad news for you. The gobernment has not done anything to curb spending. The Fed's only choice is in print LOTS more money.

Inflation is going to get way worse.

Technology and logistics can help keep the prices of food down but taxes, insurance and just about everything else is going to skyrocket.

I think you are 100% right. Ive already taken some steps to offset a few costs, mainly on the food end since i have soil, a rifle, and a few skills. Im open ears if you have any other defensive spending ideas besides quit buying guitar gear, lol. Thats my only real outlet and is also a tax write off...

 

[Geo]

I think you are 100% right. Ive already taken some steps to offset a few costs, mainly on the food end since i have soil, a rifle, and a few skills. Im open ears if you have any other defensive spending ideas besides quit buying guitar gear, lol. Thats my only real outlet and is also a tax write off...

The key is owning assets that gain in value. Like gold and silver, it may seem expensive now but that's one of the assets that help you fight inflation.

 

[Rottweiler]

The key is owning assets that gain in value. Like gold and silver, it may seem expensive now but that's one of the assets that help you fight inflation.

OK, I'll bite because people are being civil. I feel like I missed the boat on metals as I've seen it drastically rise in the last 10 years or so. I don't watch markets much, I would like to learn more about it. Do you think now is a good time to buy?

 

[VonBonfire]

OK, I'll bite because people are being civil. I feel like I missed the boat on metals as I've seen it drastically rise in the last 10 years or so. I don't watch markets much, I would like to learn more about it. Do you think now is a good time to buy?

Not in my opinion. Ive bought at higher prices in the past, small amounts, thinking it was sort of a bad idea but current market pretty much proved me wrong so I could be off base.

There were dudes on x who thought silver was gonna hit 1000 bucks an oz and were mad when i disagreed, lol. They look kinda dumb right now tho.

 

[JamesTiberiusKirk]

OK, I'll bite because people are being civil. I feel like I missed the boat on metals as I've seen it drastically rise in the last 10 years or so. I don't watch markets much, I would like to learn more about it. Do you think now is a good time to buy?

My dad said something I still remember when he was talking about gold. "You may not get a return *on* your money but you'll get a return *of* your money.'

IOW it's a safe (yes, nothing is guaranteed but you get my drift) hedge against inflation.

 

[Geo]

OK, I'll bite because people are being civil. I feel like I missed the boat on metals as I've seen it drastically rise in the last 10 years or so. I don't watch markets much, I would like to learn more about it. Do you think now is a good time to buy?

I have purchased periodically for for the last 20 years. Every time I ask the same question, but now I have tripled my money.

I started buying when gold was about $1100 an ounce.

That being said, when interest rates rise, people put their money in treasuries instead and the price of gold drops. But that is always temporary.

 

[Geo]

There were dudes on x who thought silver was gonna hit 1000 bucks an oz and were mad when i disagreed, lol. They look kinda dumb right now tho.

It will hit 1000, just not today.

 

[VonBonfire]

It will hit 1000, just not today.

Well it seems like nothing is assured and i wont doubt you its just those guys were convinced the run that was happening was going to continue and it didnt, which was unsurprising.

I dont know much about investments i just know that silver is more volatile than gold and price swings are more extreme. It does seem like metals, guns, and ammo have been pretty good ways to store wealth since the 80s at least.

 

[Geo]

Well it seems like nothing is assured and i wont doubt you its just those guys were convinced the run that was happening was going to continue and it didnt, which was unsurprising.

I dont know much about investments i just know that silver is more volatile than gold and price swings are more extreme. It does seem like metals, guns, and ammo have been pretty good ways to store wealth since the 80s at least.

Silver is also an industrial commodity, it's also very heavily manipulated. Thus making it hard to predict.

 

[VonBonfire]

Silver is also an industrial commodity, it's also very heavily manipulated. Thus making it hard to predict.

I learned that when I was first buying silver. Hundreds of industrial uses....even silver thread or something in hypoallergenic socks.

 

[84superchamp]

My dad said something I still remember when he was talking about gold. "You may not get a return *on* your money but you'll get a return *of* your money.'

IOW it's a safe (yes, nothing is guaranteed but you get my drift) hedge against inflation.

And if you buy "coinage" from the dozens of TV advertisers, you're starting out in the hole (paying too much).

 

[JamesTiberiusKirk]

...it's also very heavily manipulated...

Agree 101%

Also see diamonds.

 

[Shevek]