Sunday, November 9, 2008

The Crash of 1929

Girls, you really should take and hour and watch this documentary about the stock market crash back in 1929.
It was posted in the "Life After the Oil Crash" forum by Dimmie. The link will take you the Breaking News page and you should check it when you have time to keep up with what's going on. Matt Savinar who runs the site, updates Breaking News everyday so there's always something interesting and important to read.

But back to the documentary.

The similarities between the situation then and now is amazing.
There are differences I noticed too. Back then it seemed as if more people were directly involved in the Markets. Grandpa was. He and grandma had worked at Goodyear rubber company in Ohio and were living a good life till they lost everything and had to move to Tennessee to live in great grandma and grandpa's boarding house.

Now, people seem to be in the markets in a round about way.
Their 401k plans and pension plans have been invested in the stock market. That's my understanding of it so far anyway. Their money was invested in financial instruments that were actually people's mortgages that had been mixed and bundled together and many of those were bad loans. I wish I knew more about all this, it is very twisted and so confusing.
All I can tell you is I hope you girls have a little cash stuck back to help in the coming year.
It would be good to have some silver too if you can take physical possession, not paper gold or silver, but the real deal, in you little hands.
You can find it on eBay, or maybe at a local coin shop or possibly a bank. It's getting harder to get physical metals and that's what makes the falling price of metals look so suspect. Even though the price is falling, it's getting very very hard to find, so you'll end up paying over $20.00 and ounce for silver Eagles even though the spot price is around $10.00 right now.

Anyway, stock food first!!! Staples especially! What you want to shoot for is like I said before, a year's supply and barring that, at the very least you need enough to get you to the next gardening season, and buy you some time to get past the worst of it and make other plans.

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