I don't have quite as much ammo, but same general idea. Few thousand of 7.62x39, a few bricks of 45/22/380 and an ammo crate full of 12 gauge (under 100 rounds 00 buck though).

I don't think there will be riots, but they will be short riots if there are any in my neighborhood.

 

I'm a really great shot. I only need one round.

 

10 birds with one stone, eh? Accuracy is overrated. I'll use a shotgun if things get out of hand. Other than that, I got cash to my name and no debt. So if I need to arm myself, I can afford to. I don't think anything big is going to happen soon. I intend on saving my money, buying another car (NA Miata), going to work in my new car, and enjoy not watching any investments go down the *******. Then, I'll invest after everyone is finished losing their money. What else? I'll have a **** eating grin on my face the whole time.

 

since market started going to **** i had nothing but opportunity
if i keep getting same amount of projects, ill be able to pay cash for a house around my area by end of next year (west hollywood, ca)

 

My company is starting to offer a 401k on monday. We are having a finiacial guy from the investment company come in. It should be a very interesting meeting.

 

You guys "sitting" on alot of cash better invest in something that wont lose its value (gold, silver, etc.) or you are going to end up with a lot of toilet paper.

 

I skimmed the articles until I found something that caught my eye; he mentions how Bernake and Greenspan are the biggest cause of our problems, but he doesn't offer any substance to support that claim. Is he alluding to some other points in previous posts, or what?

 

Gary North, eh? That explains some things. A libertarian, Christian Reconstructionist dude with a knack for finding a skittish audience receptive to predictions of doom.

He'd be proud of your methods of self-"education." No need for formal education, right? It's no good, but just "become uniformly secular, liberal, and mediocre: raising the cost of entry."

Here's a good quote of his, from his book, Political Polytheism: The Myth of Pluralism: "The long-term goal of Christians in politics should be to gain exclusive control over the franchise. Those who refuse to submit publicly to the eternal sanctions of God by submitting to His Church’s public marks of the covenant - baptism and holy communion - must be denied citizenship, just as they were in ancient Israel. The way to achieve this political goal is through successful mass evangelism followed by constitutional revision."

Certainly not a man I'd trust my money too, especially with his track record of predictions (see this article with as much bias as most Jason post).

 

You may be disappointed to hear this, but riots generally involve more than one person. As a matter of fact, that's pretty much what makes an ordinary crime spree into a riot- that lots of people are doing it.

The question isn't how much ammo you will need, but how many loaded magazines.

 

Also, railing against the evils of fiat money and the abandonment of the gold standard don't do anything to get us out of our current mess. The fundamental cause of our problems is that we spend way more money than we have. This produces bad results when you print money and bad results when you are on the gold standard. Different bad results but unless you have the discipline to not spend tax dollars like a drunken sailor than you're in deep trouble under either system.

But the even deeper problem underlying this is that the American people are a bunch of soft pussies that want the government to hold their hand, wipe their asses and tuck them in to bed at night. So long as we are so afraid of failing that we refuse to really compete, we will continue to get outpaced by economies that aren't afraid to let people fail in their race of the top. Not having known hardship, we no longer have the stomach for the efforts truly required to be successful in the world. We basically aren't playing for keeps and nearly everyone else is.

 

Atlanta,

I listen to Gary North's ADVICE ABOUT MONEY because he has a track record of being right. I DON'T get RELIGIOUS advice from him. I don't care about his religious leanings.

It's like saying don't listen to advice from Joe Perez regarding turbos because he doesn't like dogs or whatever.

Other guys I like are Peter Schiff and the Addison Wiggin, but Schiff constantly plugs his EuroPacific fund, and all Wiggin ever says is "buy gold". North has much better advice.

Can you show me a financial adviser with the same track record as Gary North?

 

Let's see.

In Sep 17, 2008 he said get out of the stock market:
http://www.lewrockwell.com/north/north653.html

Let's have a look at the Dow Jones:
http://finance.yahoo.com/echarts?s=^...urce=undefined
Hmm, Sep 17 is right at the edge of the freefall in that graph.

In March he said gold was gonna go down. It was at $980. It peaked at $1,000 then it dropped to $800 that week:
http://www.garynorth.com/members/3258.cfm

In April 2005 he advised to sell your home
http://www.lewrockwell.com/north/north368.html

In Nov 2005 he called the peak of the housing boom:
http://www.lewrockwell.com/north/north416.html

So, do you think his religious views are relevant?

He's nowhere near as doomsdayish as some - he thinks the Fed is gonna do its darndest to keep banks solvent - inflate inflate inflate. He doesn't think a total collapse is gonna happen. He also thinks the Treasury is gonna fund the FDIC.

 

Yeah, I could have called that blindfolded. The only other alternative is to let the money supply contract, which they tried before to less than great results.

 

My point is that he's not one of those that are saying that the entire financial system is gonna collapse. That would mean the end of civilization as we know it.
He's saying the stock market has a long way to go down still.

You're also missing the point that if more loans are being repaid than being created, that is an automatic contraction of the money supply - recession.

 

I understand that. I don't think it is a bad thing. If people are taking out less loans than they are paying off, it means that they have plenty of money from some other source- say sales of goods to foreigners.

 

Fair enough. In what situation would it be a good idea?

 

If it's costing you less to build than you will be able to sell the house for in 2 years.

This is very doubtful in most places right now, but who knows what kind of deal you got.

 

Home sales are booming in some South FL neighborhoods. Wealthy individuals are buying up homes (for cash) which have depreciated 30-35% from previous highs.

Its a good time to invest in realestate according to some.

 

There is much bad financial advice in this thread...

 

Sit on your stock folk. Right now youre only out a loss on paper. The market will come back and your stock will be fine. Youre only out the money if you sell. I'm not nervous because I have 25 years until I retire.... and I only have about 30K invested.