posted on Dec, 28 2008 @ 06:31 PM
i hope you are correct. my hopes have been in the same direction.
i was a real estate broker for over 20 years--i got out before the boom; and, i saw exactly what was happening. my last few years 91-92, we were in a
bit of a RE recession, so i specialized in foreclosures. at that time in miami you had to have solid credit and job history to be approved for a
mortgage. interests rates had come down, but no one could qualify. even under the strict qualifying rules, i had plenty of foreclosures to work
with!
i noticed the apparent lack of equity in the dotcom boom as well; also, how well you had to be connected to get any of the venture capital. remember
the ads of the kids on roller skates in their high tech offices?
anyway, i read Douglas Casey, "Crisis Investing in the 90's". pretty much everything happened as he said it would, only it took much longer.
also, i noticed that over the years, very few clients were mom and pops. it seemed that if you didn't work for a corporation or the government, you
were not buying houses!
with all that said, i am concerned that war may be presented as the solution. i know that there are many, who would gladly send somebody else (our
kids) to war to preserve their way of life. i have been complaining about the deficit since the nineties. often, i get the response that America has
the might; and, "let'm try and come and get it" granted this is a profane remark; but just how many will divide themselves from the status quo?
yet that is exactly what has to be done.
on another note, the same amount of resources are still on the planet. we just need to find that balance. so, there is still stuff; but there is a
massive redistribution. it's the intangibles that have screwed us. somewhere is the plateau. ie Dow at 6,000?
in the event of martial law, here in the US, will the people rise; or, will it be more like Germany in the 1930's. after arguing these points now for
16 years, i still get a glazed stare from most. some of my friends have started listening though; and, i am invited to join three different survival
scenarios. i might add that one of these guys is very conservative.
i liked this guys article and i am just fishing for other views. thanks.