If everybody did what your said, 1929 would be here sooner rather than later. Can you imagine if everybody withdraw all their money from the banks and stock market at the same time?
I have to disagree with you about the "buy gold" comment. The common misconception is that "gold will always have value", but let me lay out my argument about why it won't. In the event that the economy tanks because of a dollar crash, very few people will be interested in gold. People will want goods and services they can use, versus shiny things. Gold might be good in the short term, but there will come a point where only the manufacturers have gold. The blackmarket will thrive, but in the end, it's food, water, & gasoline that will have the highest value.
Is it not ironic, the name Federal Reserve? It is neither Federal nor do we have any reserves.
It's really interesting what we hear on the news. Everyone talks about the economy falling, and falling fast. "Worst recession ever!" "We've never been worse off!" etc. As I've mentioned before, I am finishing up my college degree. In my investments class we did an in-depth analysis of all the major economic indicators. According to the research we found, we cannot figure out why the media would be claiming a recession. All the economic indicators look upward, with the exception of housing and construction. GDP is still rising (although a bit slower), employment is good, inflation is under control, production is up, etc. I'm not an economist but, according to publicly available data, things aren't near as bad as we're told.
I think a lot of the stuff we are fed about the economy is political. I can just picture people that are pushing the media to say things, especially with an upcoming election. As soon as someone else takes the office, then they will start telling the media that everything is great and then it will be, "Look at me! Look at what I've done as President that others haven't! I saved our economy!" I guess we'll see.
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