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Subject WTF !!! **** Cant convince Friend over drinks. Thinks everything is fine - Help he is planning to make MAJOR life changes !!! ****

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[quote:Mojofabulous:MV8xNTg3NzI4XzI2MjM5Mzk4X0RENzQzMDY2]
[quote:Anonymous Coward 899893]
He is planning to buy a home now - at these economic times

His points are
1. Govt will bounce back - 'car the entire world is revolving around US economy
2. If there is a major issue then everybody is world will have major issue
3. His 401 k is good but won't take any action since he thinks Govt will not touch his private 401k and only touch public money like social security
4. Home loans are at unprecedented 3.x% and he is planning to go big
5. His job is strong - so thinks everything is fine. 
6. He is very smart, very but lacks in economical calculations/analyzing

I tried but gave up - few more also tried but he brushed them aside as conspiracies - man ! i feel can't do anything to him - u know those folks who are stubborn  to their core skin even though u may love them dearly and they do the same to u who would do anything for u…!!!

God help !!!
[/quote]

In 2010 governments added around 76 metric tons of gold to their reserves.  So far in 2011 they have added about 210 metric tons of gold.  The gold added this year is worth nearly the entire GDP of the United States.

Nothing has fundamentally changed since the last three bubbles burst except for the fact that our debt is now past 100% of our GDP.  Social Security, Medicare and Medicaid take up 43 cents out of every dollar we spend, TODAY and costs are expected to rise dramatically now that the baby boomers have started collecting.

The system is unsustainable, period.  If he can't see past these undeniable facts, he doesn't deserve help.
[/quote]

Original Message He is planning to buy a home now - at these economic times

His points are
1. Govt will bounce back - 'car the entire world is revolving around US economy
2. If there is a major issue then everybody is world will have major issue
3. His 401 k is good but won't take any action since he thinks Govt will not touch his private 401k and only touch public money like social security
4. Home loans are at unprecedented 3.x% and he is planning to go big
5. His job is strong - so thinks everything is fine.
6. He is very smart, very but lacks in economical calculations/analyzing

I tried but gave up - few more also tried but he brushed them aside as conspiracies - man ! i feel can't do anything to him - u know those folks who are stubborn to their core skin even though u may love them dearly and they do the same to u who would do anything for u…!!!

God help !!!

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