and it's working on 800. Time to "pull in yer horns" as my dad says. The thing I wonder about is, if you've got any kind of investment, typically this is NOT the time to be jumping out of it if you don't have to. Rather, it is the time to be looking at buying.
However...I'm fairly certain we haven't seen the bottom yet, and to compound the problem if ya do jump out, how much is cash going to be worth? We went completely off the gold standard under Nixon, and our currency isn't based on anything concrete anymore. Germany had this problem during the Great Depression where their currency became effectively worthless, and it took great wodges of cash just for a loaf of bread.
And it's to the point that I don't know whether it is better to let things fail without a government bailout, making things presumably easier to fix after the rubble of collapse, or if the bailout will actually help solve any problems rather than band-aid our current situation.
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Date: 2008-09-29 09:48 pm (UTC)However...I'm fairly certain we haven't seen the bottom yet, and to compound the problem if ya do jump out, how much is cash going to be worth? We went completely off the gold standard under Nixon, and our currency isn't based on anything concrete anymore. Germany had this problem during the Great Depression where their currency became effectively worthless, and it took great wodges of cash just for a loaf of bread.
And it's to the point that I don't know whether it is better to let things fail without a government bailout, making things presumably easier to fix after the rubble of collapse, or if the bailout will actually help solve any problems rather than band-aid our current situation.