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| Topic | Y'all ready for a repeat of 2008? |
| Ozmose 03/13/23 2:22:29 AM #11: | faramir77 posted... I'm not even remotely overextended on my mortgage and my job is at very low risk of disappearing in a recession. So yeah, I'd be ready for it.Where a lot of people got hit last time was their 401k. I know a guy that lost 2/3 of his retirement fund in the last crash. I don't think a lot of people realize how much their money is used to gamble with by the banks and other various financial institutions. People put their money in the bank and think it just sits there. When in reality they're using it to buy bonds, and with the yield curve inverted they can't maintain liquidity. It's basically a Ponzi scheme. All your money is tied up in other peoples failing investments. --- Most people are other people. Their thoughts are someone else's opinions, their lives a mimicry, their passions a quotation. - Oscar Wilde ... Copied to Clipboard! |
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