What's up with Macs/Ecklers

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Originally Posted by Terry, NJ

Yeah, yeah! That's just great...... for now! But situations change. Sometime in the next five years when all this prosperity ends, they're going to wish they had a savings/cushion to land on. I really hate to say it, but, our workforce is made up of so many foreign born people who've never been through the boom and bust cycles and they think it will always be this way. Not so, my friend! Then it will be all over but the crying, and the cries for socialism will the loudest. Our forefathers told us to make hay while the sun shines and living on a govt. handout is not prosperity. All it means is more Bills in Congress for more welfare and bigger handouts and more "funny money" inflation. Not to mention the accompanying shortages of everything from food to housing and spare parts No one has ever taxed themselves into prosperity.
Terry

I have always believed the truth in what my father used to say. There is nothing softer to fall back on than hard cash!
IMO, it will only take a war or serious economic crisis for this house of cards to come crashing down. That's when those who have a few $ in reserve will rise. When I was studying in the late 60s, our lecturer in economics 101 told how during the depression, he bought bank accounts for sometimes 5% of face value. Once the banks were back on their feet, he had made a very nice profit. During the GFC, many people from here bought real estate in the US. Rental returns are astronomical compared to what they would get here (about 3% pa) and the potential for capital gain was very high.
I guess what I'm saying is that opportunity awaits in adversity.