Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.150

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3:40 PM EST

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To: golden_tee who wrote (7932)	4/13/2001 5:49:47 PM
From: Hank	of 10293

Depression. Recession. It's all a matter of degree and semantics. Are you sitting on a "pile of cash"? Yes? Good for you! Now ask yourself this, were is that "cash"? In a money market fund? In a safety deposit box? In a federally insured savings account? If it's in a money market account, watch your @ss. How do you think they get those better than average rates? By playing the field with derivatives and other not so secure investment tools. In a SEVERE market crash (the likes of which we haven't really seen yet), not even money market is safe. They can wipe you out too. In a safety deposit box? Well, that's pretty safe unless the value of the dollar goes to zilch, which it would in a truly severe market fall out. See how long that 100k lasts when inflation hits 20% or more! In a federally insured savings account? That's about as good as a safety deposit box as long as you don't have MORE than 100k to stash, since 100K is the insured limit. I'm not advocating your point about a depression. I hope to God one isn't on our heals. However, a true economic wipe out is just that. It leaves a very few standing. AKA those best informed, which ALWAYS equates to those with THE MOST MONEY. You, on the other hand, seem destined to be one of the lemmings. You'd better pray things turn around and turn around quick on this very Holy weekend. Cheers.

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