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SW Iowa | Good question Byron.
Yes, I carry a truck load of debt right now, but still have some wiggle room left to move on an opportunity should it pop.
If the economic meltdown is prevented by the upcomming stimulous inrush of fed funds from all directions in another last ditch attempt to float this boat especially long enough for fall elections, then the resulting hit ofinflation will be staggaring. We already are seeing inflation in everything we buy and it will be compounded. Thus all debt today will be reduced. Remember, doing inflated times, farmers do well as their assets and grain appreciate much faster than the interest they pay.
But, I think the chances of a lasting recovery are slim and the fed's monetary tricks are about used up. All it will take is another 4 star general resigning, and a big national bank teter towards the dark abyss, and BP telling us to stick it, then the party is over.
Main thing each of us cannot count on, and the "wild card" during the next 5 years is our health, and in tough times, medicines will be hard to come by. A minor flue bug or accident with an auger could turn into a death sentence without the proper antibiotics. So, take good care of yourself, as the bad times will not last long and the healthy and strong will survive. Those in retirement homes and infirm, I am not so sure of. | |
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Question for Senior Citizen- Economic End Times
