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 I am preparing for Global Recession, Be cash rich

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SeeD
post Sep 17 2011, 09:09 AM

I Love Bubbles
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QUOTE(dreamer101 @ Sep 8 2011, 07:26 PM)
kevyeoh,

So, I still can last at least 2 years without selling and without income.

What is YOUR NUMBER??

How long can you last without income and not selling anything??

Dreamer
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How old are you to only last 2 years without income? TWO years doesn't sound like a big deal to me and your projections might be wrong as well. Why?
1. What happens if hyperinflation kicks in and nobody believes in your cash anymore? Do you have commodities that other people wants in order to make a trade? If you don't, you can't even last a day.
2. Theft
3. Riots
4. etc

Don't assume 2 years if you do not have the necessary protection to protect your wealth. Say "two years if I am lucky". Still two years is quite short if you ask me.
Nothing to hide here, I can't even last 2 days as of now. D:

QUOTE(cherroy @ Sep 16 2011, 05:17 PM)
It depends how one calculates.

It also can be pointed up,
In USD term.
1970's
USD500 cometh 2011 USD1800 = 260%

35 years for 260% return, is not something very proud of, and definitely is not decent, nor even can catch up the inflation, nor beating FD rate by miles.
*
You're looking it at a growth point of view, investment pov. This is perfectly fine, if you're in the era of good times. Unfortunately Cherroy, I highly doubt we're anywhere near good times. It's unfortunate time coming ahead.

Gold hoarders view gold as a bargaining chip when your dollars turns to Zimbabwe money. Note I didn't say gold investors because investors usually have an exit strategy to sell off their gold for other investments that have better returns.

Also I realized some still are pretty ignorant about the housing bubble. IT IS GOING TO BUST. Malaysian bank economists have forecast it as early as 2012, I don't think it will last past 2013 because it is already out of control now. Not so certain about land banking though.


SeeD
post Sep 17 2011, 01:20 PM

I Love Bubbles
*******
Senior Member
6,728 posts

Joined: Jan 2003
From: YOUR HOUSE


QUOTE(dreamer101 @ Sep 17 2011, 09:17 AM)
SeeD,

How long can you SURVIVE without income and WITHOUT SELLING any asset and / or investment??

Answer that question FIRST.  Make sure that it is AT LEAST more than 2 years before you say it is not a big deal...

Dreamer
*
Dreamer,
QUOTE(kaiserwulf @ Sep 17 2011, 09:33 AM)
Just keep ego out of this.
Please don't let your ego do all the talking.
You know 2 years is nothing to be bragging about. Not to mention in such inflationary economic times, your 2 years could be as fast as 2 months.
On the other side of the picture, if it's a deflationary recession, two years is nothing. Japan's deflationary recession lasts for a decade, giving them the "Lost Decade". I'm sorry if what I said is a little straight forward but seriously 2 years is nothing.

If you can't survive permanently without working there's nothing to be bragging about. It only shows that you're good at saving the money you earn, which could be trash in probably a decade.
Two years is a good goal, but a bad destination.

QUOTE(Algorith @ Sep 17 2011, 11:02 AM)
if there is a recession, what else can we invest in besides gold and silver? I have a feeling this coming recession is going to be a long one...
*
Agriculture, Guns (Invest on you and your family's safety. Not quite the legal thing in Malaysia, which I think is ridonculous) and Oil. And I want to repeat this over and over again, PHYSICAL is the keyword.

QUOTE(mois @ Sep 17 2011, 11:58 AM)
Assume one spends rm3k monthly, it mean one need rm72k to survive in 2 years. Damn. That worth my half year saving. But nevertheless, i would rather invest in low risks such as bond fund. Cash money depreciate in value due to inflation anyways.
Well, RM72k is a huge sum of cash to be staying idle. If a person have that kind of money lying around in your bank account, it only shows that he's bad at investing his money (given that it is his life long savings).
SeeD
post Sep 17 2011, 01:56 PM

I Love Bubbles
*******
Senior Member
6,728 posts

Joined: Jan 2003
From: YOUR HOUSE


QUOTE(Robin Liew @ Sep 17 2011, 01:50 PM)
so if pun in as1m ok?
*
One million? Through savings from income? In these times? Very unlikely.

Baby boomers and lottery winners can do it, not our generation.


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