Quote:
Originally Posted by Stetson_1883
It may not happen within a year, or even 10, but I'm fairly confident that before I die (I'm 37), we're going to see a global economic cataclysm the likes of which we will have never seen before. I'm talking worldwide breakdowns in financial markets, collapsing governments, sudden environmental implosions, hyperinflation, homelessness, criminality all leading to utter bedlam running amok in the streets...a purge, if you will.
Speaking as a former financial academic, I believe there's simply too much interconnectedness in this age of globalization. We're all teetering very precariously in an ubsurd balancing act. One small shift somewhere in the market will cause a tital wave effect. Everything we see is unsustainable at this point. I feel a breaking point is lingering in the air and eventually it's going to crush us.
When, not if, this time comes, these pieces of cardboard won't be able to buy you a loaf of bread.
Have a nice day!  |
There is no disputing that the current debt globally is unsustainable. You will continue to see the treasury yields fall to reduce the interest expense to prolong the inevitable which is indeed a serious financial issue as you suggest. That said it isn't stopping people from buying luxury real estate, 170 million dollar pieces of art, 52 million dollar cars and so on.
If indeed we see an event of epic proportion that is as serious as you believe is coming, the best investment one could make today is guns, ammunition and silver coins. If all paper money becomes worthless than so to will trading cards but who cares. Your F'ed regardless so why not enjoy them while you can.
The super rich will be safe in an environment like the one you describe as they will buy large plots of land before paper money has no value and be self sufficient should they need to be. Anyone buying a $500,000 baseball card has to be liquid for at least 10 million or more I would think and perhaps even higher. They will find a way to survive don't you worry. In the mean time they can whip out their rare cards and be reminded of how awesome they are and also be reminded that they can afford a piece of cardboard that very few can.