Whatever fortune brings, don't be afraid of doing things.- Melville
Today we got closer to the bottom, but we don't know when we will hit it so I employed my Google-fu and studied my banks. All are on solid ground except for GMAC, a subsidiary of General Motors, now less than 4 bucks a share. Yesterday Standard & Poor's Ratings Services "put General Motors Corp. and its 49 percent-owned finance affiliate GMAC LLC on negative credit watch." ack! we moved our Money Market out of there and decided to redistribute what small assets we have.
We are thinking about buying some gold or silver maybe or investing in a precious metals mutual fund. We advised our sons to get a few hundred out and set it aside, pay off their debts and start saving.
I went to Wallie- Mart and bought a small safe to put some cash in just in case the President declares an "economic emergency" and closes the banks while they sort out this mess. They already do this when they take over banks. Close them on Fridays and open them on Mondays. With so many banks ready to fail though it occurred to us that they might have to close them for more than a weekend just to catch up on the red tape. Need groceries; need cash. It's a relief.
Right now my disability check seems worth a lot more because at least it's guaranteed income.
We are thinking about buying some gold or silver maybe or investing in a precious metals mutual fund. We advised our sons to get a few hundred out and set it aside, pay off their debts and start saving.
I went to Wallie- Mart and bought a small safe to put some cash in just in case the President declares an "economic emergency" and closes the banks while they sort out this mess. They already do this when they take over banks. Close them on Fridays and open them on Mondays. With so many banks ready to fail though it occurred to us that they might have to close them for more than a weekend just to catch up on the red tape. Need groceries; need cash. It's a relief.
Right now my disability check seems worth a lot more because at least it's guaranteed income.