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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (94518)	2/16/2002 10:11:38 AM
From: Tommaso	Respond to of 132070

My wife's retirement money is now 75% in TIPs. Not exciting, but may retain purchasing power. As we found out in the 1970s, it's perfectly possible to have economic slowdown, rising unemployment, a depressed stock market, and a lot of discouraged workers while at the same time having rising inflation. On the whole, the inflation is easier to deal with and less traumatic than huge deflation and unemployment reaching towards 25%. No one talks about being psychologically scarred by the economic conditions of the 1970s. After the 1930s, there were people putting cash in mason jars and burying it. Or, if slightly less paranoid, putting cash in shoeboxes in the back of a closet. I know a retired doctor who is about 85 years old who still keeps a lot of cash that way, though to some extent that may be his Sicilian background.