Originally Posted by MADDOG
Good points, Luke. Me, I didn't get greedy. I paid off my house and kept my money in a conservative portfolio which still took a hit but it didn't sink.
Shades of 1929...anyone can speculate but those derivatives were a pure house of cards...when confidence in them and the institutions wavered, and they were called in, the value dropped like a lead balloon. And to some extent, they did have value...book value at the institution that held them. Problem is, there was no real asset behind them.
Yeah, I know what you mean about debt. My Ram is my biggest liability and I hate
having a truck payment. Maybe if me and her ever part ways I'll have enough cash to not worry about it......one day....
I didn't mean you specifically were greedy I meant American's in general....even our "conservative" 401Ks! I don't mind paying more for products if they're made over here, but that's not the attitude of most, that's part of the greed I'm REALLY talking about I guess.
Just remember the whole country is on sale, buff up that portfolio!
You are ABSOLUTELY right there are shades of 29 in there. I'm not a fan of Margin accounts or lots of options or SWAPS etc.
A scary/weird tangent here....a few months ago a buddy of mine was talking to a guy who works with him and owns property butted right up against the Ozark National Forest. He said there were surveyors running here and there. The guy asked what was going on and one of the surveyors said that they were surveying the forest because it had been pledged as US collateral for treasury debt to the........Chinese.
Maybe it's a campfire story but I could soooo see the govt. doing that and not even knowing.