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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (104266)	2/15/2009 8:46:15 PM
From: Bread Upon The Water	Respond to of 542043

You've described the "possibilities" more or less as I see them also. For me, the conclusion I draw is that I want to own some physical gold (coins) because in SOME of those scenarios it will be alot more valuable than it is today. I also have a percentage of my liquid assets in gold stocks for the same reason. I think most reasonable minds would come to the conclusion that gold should be in the mix of assets in some proportion because of all the economic uncertainty out there. The question of "What proportion?" would vary by individual. I see the entire stimulus thing as a big if. I'm not saying we shouldn't try to stimulate the economy, but the chances of failure are, to me, as equally great as success. What gives me pause for long term success for America is the cultural shift in fiscal values. It used to be hard to get credit. You had to have a good track record. A second mortgage was a rare thing. People actually saved money and the stock market was for "fat cats". From the 70's onward that all reversed. In the long run I think our standard of living will have to shrink and we will have to lower expectations--and work longer and harder. In essense--live within our means as a nation.