I am really worried about dealing with finances during Peak Oil. Not only will there likely be much fewer jobs (let alone high paying ones), but the value of the dollar will likely continue to decline, and finances will be tighter.
In particular, I am worried about my investments in the stock market. I am afraid that the stock market will do a lot worse in a troubled economy. The stock market already has been a little rough in the past month or so, and that makes me want to withdraw money, but I don't want to have to pay broker's fees or taxes to do so, and I always get encouraged whenever the market goes back up, although I think it is only for a short term basis.
I am rather young, so I don't have a whole lot of money. The money I have in the stock market right now is the most I have compared to other places (the bank). Currently, I have about $2,700-$2,800, and if I remember right, it's invested in a global fund, which at the time (a little over ten years ago) was considered to be a stable investment. I don't want to lose any money, as I want to prepare for the difficulties ahead as well as be able to pay for the necessities of life. Therefore, I have some questions:
1) Would it be wise to keep my money in the stock market?
2) If yes, should I invest in something different, energy stocks perhaps?
3) How secure do you expect banks to be in the future?
Anyway, I think you've got the idea of what concerns me. Thanks ahead of time!
I think you should check out what fund your money is in and see what it invests in. I get the impression you don't know exactly what you have right now. That is never a good thing.
If you invest in energy stocks keep in mind they have had a huge run up. Oil could pull back $30 easily and kill your investment. We have already seen gold lost over 10% of its value in the last few weeks.
I actually like the stock market right now and I am very bullish. But I am the minority in that belief here on peak oil. I see right now as a buying opportunity.
If you invest in energy stocks keep in mind they have had a huge run up. Oil could pull back $30 easily and kill your investment. We have already seen gold lost over 10% of its value in the last few weeks.
joeltrout
WOW Joel.....you scared the crap out of me ! I ran to my stash of gold, spent a couple hours counting and am happy to report I have the same number of ounces now as I did a month ago.....ahahahaaaaaa
Given the FED has been printing bailout money like drunken sailors, I feel almost any REAL item is going to be 'worth' more in FRN terms down the road.
Oil may pull back a bit, especially when pump prices finally put a crimp in buying, probably somewhere north of 4 bucks, but the factors of a vastly expanded money supply, combined with what will probably be peak production ( either last year or this year.....it will take a couple years to see ) and no let up in demand from developing countries, I think oil is a very safe long term play.
Gold the same way....gold is the canary in the coal mine for paper fiat, and the banking cartel fights the price of it tooth and nail to keep the exposure of their paper game to a minimum....but at some point, in the not too distant future, the jig will be up, and gold, in terms of FRNs, will go to the moon.
Posted: Sat Apr 26, 2008 12:22 am Post subject: Re: Stock Market Investments Safe?
TnAndy wrote:
WOW Joel.....you scared the crap out of me ! I ran to my stash of gold, spent a couple hours counting and am happy to report I have the same number of ounces now as I did a month ago.....ahahahaaaaaa
Yes but you are using it as a security blanket (which I support) but that is different than an investment. I think Joey was looking for investment advice not end of world the dollar equaling zero advice.
Posted: Sat Apr 26, 2008 12:27 am Post subject: Re: Stock Market Investments Safe?
TnAndy wrote:
'worth' more in FRN terms down the road.
What is the time frame you are predicting. I have stopped buying bullion (mostly silver) because I think it will pull back in the near future as soon as the dollar starts rallying. And yes I believe the dollar will start rallying against the euro within the next year.
Then my dollar will be able to buy more bullion. If I thought this was the beginning of the end then I would buy more now. But I think we are decades from that.
Posted: Sat Apr 26, 2008 6:37 pm Post subject: Re: Stock Market Investments Safe?
Silver is such a contrary metal.....I have a love-hate relationship with it.
It should be twice or better the current price....they find new uses for it just about every day, the latest I saw was catalytic converters for diesels are going to use silver instead of platinum/rodium......and considering the amount mined versus the amount consumed has been on the short side for many years, meaning stored silver is being consumed, whereas most gold ever mined is still around, it should be 30-50/oz right now.
I think if the industrialized world holds together, silver will eventually outshine gold in terms of percentage growth....real growth, not just keeping up with a depreciating dollar.....but if the world falls apart, we could see silver take quite a hit for while before it comes back as a store of value like gold always has.....
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