Will do thank you!
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Good time for used EarthRoamer
- Thread starter 68camaro
- Start date
There will be no bail out the next go round.
More likely, a bail in, where your bank seizes your bank account. It's in the small print of when you signed up for the account.
Usually on a Friday afternoon.
When the bank reopens on Monday, you have either gained a few zeroes in your account or more likely lost a few.
Depending on what the federal government has done to butcher the value of the dollar.
Well this thread took a curios turn but it is interesting.
I hope there is no bail-out but wouldn't put it past US politicians of both stripes to give it their best shot.
A bail-in is big risk since as you mention, the well is dry. This is reason we diversified to RE and other assets plus reducing cash bank exposures to married couple FDIC insurance limits. However, what happens if FDIC goes Kaput!
Back in 2009-15 Several EU countries had bail-in's but most were limited to bond holders, but big bondholders like Germany were backstopped by E.U. guarantees. Smaller bond holders got hit hard and in some countries uninsured depositors (those with amounts above insured levels) took big hits, lots of ordinary people lost lots of money as their deposits were not spread within multiple banks. As always the little guy takes it in the shorts and big folks are protected.
Lesson here is have some cash hidden or safe at home in case of "bank holidays".
It's sad....I feel so bad for younger generations ( I am 62), on average they are scr$w$d.I have thought the same thing for years and yet here we are. I have largest portfolio I’ve ever had. I doubt the bubble will last, they never do, but we’re still charging forward. I guess the real problem we’ve seen with the over printing of money the past couple decades is the dollar has lost incredible value. I make 4 times more than my father ever made and he had a home in CT, a stay at home wife, two kids, and five cars. I’ll tell you right now my salary doesn’t go that far.