Flame — HabitableZone

Flame » in reply to You bailed out of stocks in the 80s?

Yep
ER — (archived)

The curve of growth just prior to the '87 crash looked too much like the growth of bacteria in a Petri dish just prior to the concentration of toxins killing off the culture. I got out two weeks ahead of time and made a pile. I never went back.

Yeah, I know where you'e headed, if I had stayed in I would have eventually recouped my losses and I would have made out all right in the long run. But the combination of deficit spending, negative balance of trade, exporting jobs to "increase productivity", deliberately causing inflation as a means of reducing long-term finance costs and an economy based on debt, short term profits, capital gains and consumer oriented services seemed suicidal to me. It couldn't continue forever, and frankly, I'm amazed it held together as long as it did before it collapsed.

I've relied instead on my working class values: learn how to do something useful for society, and learn it well. Stay out of debt, live frugally, and save your money. Everything else is phoobah.

It saved my butt in '87, it saved it again when I was laid off for 15 months in the early 90's, and I'm counting on it to save me again now.

http://zfacts.com/p/318.html

Log in or register to post.

The whole thread (52 posts)