Quote:
Originally Posted by pwd72s
Without a doubt, we are screwed...but what's the choice other than continue biz as usual? None...so we await the collapse.
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I have continuously said you have to play the game as if the music would never stop..and hedge for the rainy day acomin.. With the CAVEAT..that when the music stops all the skin you have in the game is GONE FOREVER...you will then have to walk away and rely on your Hedge funds..
Debt or no debt DOES NOT MATTER ANYMORE...Not when virtually everything is leveraged to the hilt..and the system hits tilt..BTW..I don't hear much about how the system is already in tilt..with the CV...except for mortgage, rent, credit card, car loan and student loan moratoriums..Nobody wants to talk much about it?
The thing that gets me is not that biz continues as usual but that people think that the system/structure is sustainable.. that their investment assets are going to be viable no matter what..they have no experience of stuff evaporating virtually overnight.. What I am talking about is called the uncertainty of life itself..
When FDR was elected one of the first things he did was close all the banks..the banks that were solvent were shortly reopened, the ones that were not didn't reopen and ALL OF THE DEPOSITORS MONEY WAS GONE.. ZIP, ZERO, NADA.. That is why FDIC was instituted so that people could have confidence in the banking system (Systemically the FDIC couldn't handle the scale of defaults)..So losing everything you have is a very real and distinct possibility..It has happened before and can happen again..