Thread: Financial Question
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04-23-2008, 10:04 PM #1
Financial Question
In a falling dollar environment (value of dollar decreasing rapidly) is it wise or unwise to carry small amounts of debt i.e. 10% of total net worth?
I have heard some say get rid of all debt because of potential worsening of recession. This is confusing to me.
However, my logic is that if you are hedged (i.e. own a type of commodity like gold or silver) the falling dollar will make your potential loan or debt actually decrease in real terms (advantageous).
Any thoughts?
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04-23-2008, 10:13 PM #2
I would agree with your logic 100% (Advantageous)
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04-23-2008, 10:24 PM #3
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04-24-2008, 04:57 AM #4Banned
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04-24-2008, 04:47 PM #5
I say no debt all the time. lol
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04-24-2008, 06:09 PM #6Anabolic Member
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I just happen to live in one of the most effected area’s of the recession that is on the way. I live in Northern Michigan, with the auto industry going to Japan and soon China the economy in Michigan is very bad.
I’ve done well for myself though, when times are bad, there is still money to be made. You sound like a type that does things different than I do. I’m a worker, I hustle to make a living but it’s work out well for me. The home sales are down, people are losing homes….makes the rental market great for me.
Over the years I’ve just grown confident in my ability to come out ahead on things. I’m not cocky, I get stressed like a mother fvcker but I always find a way. You just have to be willing to do what other people are not.
I finance almost nothing, people gripe on me about it. I’ve bought most of my properties on land contract, paid large payments and done better that way than if I was to finance though a bank. For the most part, I keep my mouth shut, I plan and organize but I don’t tell people what I’m doing or planning. Loose lips sink ships.
EVERYONE has that million dollar idea, 1% of people try it.
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