Has anyone else lost faith in the "Paper Promise"?

[FastMan]

xring, my fear is that the runaway national spending and debt will demand ever greater printing of money to finance it, driving the dollar down in value to tragically low levels, rendering cash investment/savings holdings of everyone, including that of all us average Joe citizens nill. All the hard work and saving down over people's lifetimes will be deemed virtually worthless in the blink of an eye. It's criminal.

That's why this coming election is so crucial. Might be our last chance to change course. Obama is going to steam roll us to the above end.

[xring]

xring, my fear is that the runaway national spending and debt will demand ever greater printing of money to finance it, driving the dollar down in value to tragically low levels, rendering cash investment/savings holdings of everyone, including that of all us average Joe citizens nill. All the hard work and saving down over people's lifetimes will be deemed virtually worthless in the blink of an eye. It's criminal.

That's why this coming election is so crucial. Might be our last chance to change course. Obama is going to steam roll us to the above end.

It does seem to be accellerating rapidly doesnt it? Particularily telling to me was the ecbs announcment to buy bonds and the bernanks qe4eva coming within a week of each other. It seems somewhat surreal to me. And yet others are blissfully ignorant- qe what?

[tmckay2]

i am far from a financial advisor and really just got to the point of life where i make considerable money. heres my take though, its might not be a bad idea to own things as soon as you can, such as a house, car, etc. pay them off quick. i know some people say keep the debt because rates are low and if the market goes a certain way the debt could be even easier to pay off, but to be honest i think we are headed to some uncharted waters and personally id want to own my home and other things so that worst comes to worst i can sell what i need to without some beaurocratic bs.

as others have said i think you need a considerable amount in tangible assets, the easiest being precious metals. land is doable as well, but takes a bit more saavy and is a tiny bit higher risk if you consider the ways the government can bone you on that. metals are fairly easy to conceal and not leave a trace.

ill tell you one way people are making money back in illinois. with the death tax, a lot of poor famring families (who happen to have a crap ton of land just no cash) can't keep their parents land when they die due to the tax. so often times they sell it fairly cheap and its usually hunting or farming land. i know some people that have made considerable money purchasing land like that. its a bit risky but its very useable land.

with the company i work for they match up to 5% of your salary in your 401k. so if i put in around 6500, theyll match it. now the question i haven't asked yet is what all i can do with that money because if i can invest it in previous metals or other tangible assets, it could prove very useful. but sadly the days of simply having a big old nest egg for retirement are over. it would be a shame to put in so much cash and be left with virtually nothing.