There have been a number of really bad fiscal decisions over the last decade made by the Democrats, Republicans and private parties which are starting to bear the fruit of depression
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Do you think that there are any industries that will thrive/fail horribly? What do you think would be a good investment(s) for this? How should we prepare? Any advice for Joe Six-Pack on how to prepare for this?
I think pharmaceutical/biotech companies are going to be doing well and should only have minimal problems as a sector.
Life Insurance tends to run counter to the market and generally does well overall, but the financial sector is going to be in ruins.
Most of my is currently in mutual funds, roughly a third of that is in international funds. If you have less than $10,000, mutual funds are really the only way to go.
Wait a bit (maybe 6 months) and purchase a house that you can afford with a 30 year fixed mortgage and plant to live there for at least the next 10 years.
I think I'll wait until this selloff is over before I dump my stocks and put it into mutual funds.
The industry that I am in is shipping, but our company has some very weird quasi-relationships with the DoD, so I'm hoping that my job will be secure in the event of a sharp economic downturn.
I've actually been looking at buying a house within the next few years, but this market (Memphis, TN) doesn't really seem to be following the same trends as the rest of the country.
Not really, just make sure that you get a long term fixed interest loan. And make sure that you can afford to live in the house and save money as well.
If the dollar weakens the value of the hosue will go up and it will be cheap money.
If the dollar gets stronger the value of the house will go down, but the effective cost of living there will go down.
LOL, what if I have essentially no savings and am over a quarter million in the hole with student loans? Any chance that SallieMae will go down in the white-hot, wrathful flames she so VERY RICHLY fucking deserves and I will get out of debt?
Even if they weren't fed backed, they would sell off their assets during bankruptcy (ie: your loan) to someone that would still want their (previously your) money.
Michigan is in a depression as a result of some really bad governmental decisions based on tax code and land usage laws. If the stock market collapses things will get really ugly up here.
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And please don't say "learn Mandarin".
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Life Insurance tends to run counter to the market and generally does well overall, but the financial sector is going to be in ruins.
Most of my is currently in mutual funds, roughly a third of that is in international funds. If you have less than $10,000, mutual funds are really the only way to go.
Wait a bit (maybe 6 months) and purchase a house that you can afford with a 30 year fixed mortgage and plant to live there for at least the next 10 years.
Reply
I think I'll wait until this selloff is over before I dump my stocks and put it into mutual funds.
The industry that I am in is shipping, but our company has some very weird quasi-relationships with the DoD, so I'm hoping that my job will be secure in the event of a sharp economic downturn.
I've actually been looking at buying a house within the next few years, but this market (Memphis, TN) doesn't really seem to be following the same trends as the rest of the country.
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If the dollar weakens the value of the hosue will go up and it will be cheap money.
If the dollar gets stronger the value of the house will go down, but the effective cost of living there will go down.
Reply
LOL, what if I have essentially no savings and am over a quarter million in the hole with student loans? Any chance that SallieMae will go down in the white-hot, wrathful flames she so VERY RICHLY fucking deserves and I will get out of debt?
Please?
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The way I figure I have nothing to lose. Bring it on. Let's crash the bastard tomorrow!
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http://en.wikipedia.org/wiki/Sallie_Mae
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