Love The Crash!
By bigbrother ~ October 9th, 2008. Filed under: Bonus.
You should put your excess capital to good use. If you do not have excess capital then get some. Sell your car. Liquidate your Beanie Babies, they will never be worth more than what they are now. Cancel your vacation. You need the market to go back up and the only way for that to happen is if you start buying stocks again.
Forget stocks. Buy a house. Some of them are half what they were valued at last year, if you can find someone willing to sell at that price. Homeowners still believe that the valuations of the last few years were the “right” price and the recent collapse is some sort of mistake. Both Presidential candidates encourage this view, sympathizing with voters who have lost half the value in their home.
Usually being able to buy something for less is a good thing! Why is everything you own made in China? Because you wanted to be able to buy a television for less and China was where you got that. Your home has just been stamped with “made in China”. Housing is now cheaper to buy than it was. It might not be good for you because you locked in your housing cost last year. It is good for the schoolteacher looking to buy your house who was bid out of the market when you bigshots bid the price up. Every time McCain or Obama says they want to help you cover the cost of your expensive house, they thwart the dreams of the schoolteacher wanting to buy your cheap house.
That is All,
Big Brother
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