Users Online Now:
2,137
(
Who's On?
)
Visitors Today:
602,962
Pageviews Today:
973,009
Threads Today:
393
Posts Today:
6,404
10:16 AM
Directory
Adv. Search
Topics
Forum
Back to Forum
Back to Thread
REPLY TO THREAD
Subject
Are we fools for saving our money, which only gets eaten by inflation?
User Name
Font color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Indigo
Violet
Black
Font:
Default
Verdana
Tahoma
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Fool for the Money 399487:MV81MzY2MjdfODI0NzM1Nl9DRDQyODA1NA==] [quote:Seraphim 215451] Good question. I would turn some of your cash into commodities (LIKE FOOD!), esp long term stuff. I'm in the same boat, somewhat. I owe about $20k in loans but am now making min pmnts so I can save some dough. I figure we'll have a window to spend it. Also, I've changed my deductions so I can have extra cash in the bank for a year at least. Who's gonna pay taxes if TSHTF. [/quote] I think if you are holding onto money that is having less and less spending power then you are holding onto a negative asset. There are those that say buy gold, silver, precious metals but is that really a safe haven? While these commodities are likely to appreciate will they do so enought to keep up with inflation. Simply put if I buy 1000.00 worth of gold today that becomes worth 2000.00 next year does it matter if fuel and staples double as well? [/quote]
Original Message
Are we fools for saving our money, which only gets eaten by inflation?
While government fiscal policy provides cheap money to investment banks. The loose fiscal policy essentially robs savers and rewards people who borrow and speculate. Anyone with a pulse knows that the current housing fiasco is the result of loose fiscal policy and a complete failure to regulate fraudulent behavior of everyone in the real estate business, including the investment banks, realtors, appraisers and buyers.
Loose fiscal policy is a primary cause of inflation, and inflation is simply a silent tax, as it lowers the purchasing power of money that is saved as surely as if the government had simply confiscated the money via taxation.
With that said is it still a good idea to save in a 401K, savings account etcetera or spend the money?
Pictures (click to insert)
General
Politics
Bananas
People
Potentially Offensive
Emotions
Big Round Smilies
Aliens and Space
Friendship & Love
Textual
Doom
Misc Small Smilies
Religion
Love
Random
View All Categories
|
Next Page >>