So… global financial critical meltdown lose all your money jump off a bridge time anyone? As someone who has a reasonable percentage of wealth in shares (which means, not a lot, but a reasonable percentage)… I’ve been using www.keyring.co.nz to try and find a suitable bridge. Unfortunately, the only reasonable ones seem to be a long way away, and Im not going to give money to stinkin oil companies. So now, im like “Bring it on! hahaha my shares are worth even less! Fabulous! See if I care! Is that the worse you can do? What a pack of losers!” (accompanied by my slightly demented cackling. Its generally not pretty, but I don’t drink coffee in the mornings so it could be worse).
wikipedia have a cool diagram of the meltdown. Basically, people have this thing with housing. And housing prices go up all the time. Now, I’ve never really understood this. I get business. Business sells things that people want, makes money, business needs capital to sell more stuff. But property? Property goes up in value because… um… immigration? um… I never got it.
The US has their $700billion bailout, which has… not done much to remedy the problems. At least my shares are still plummeting like light particles into a black hole (nerd metaphor) (although the Iraq war is predicted to cost at least 1.4 trillion, so its not that big a deal…)And the IMF are warning that we’re “on the brink of a global financial meltdown” which suggests that the $hi+ really hasnt hit the fan yet.
All aboard the handbasket-to-hell express!
So, what to do?
Well, it depends. If you have confidence in the banking system, you could leave ur money there. Or… you could load up your money on your credit card. Buy gold? Stick it in your mattress? Or pick up a few bargains on the stock market? short every company whos ever pissed you off? buy some budget properties as you throw some over-committed families into the street?
See? You never have all these options when times are good! You’re just… put it in the bank. Buy a house. Buy Telecom (whatever you do, don’t buy telecom!). From crisis springs opportunity! Carpe diem! Just depends on your point of view. In the meantime, summers coming, it costs nothing to lie in the sun reading a book (well, except for the book), so things could be a lot worse.
What are your plans?