Back in the 1970s, an OPEC oil embargo sparked a period of hyperinflation in America. To clamp down on rising prices, Fed Chairman Paul Volcker raised interest rates. By 1981, you were lucky if you could find a home mortgage for less than 16%. Business loans were going for 25%. On the bright side, if …
“DOUBLE YOUR NEST EGG” the headline screamed. “Now’s the time to jump into cheap stocks, funds and real estate.” Bad timing for a magazine called “Smart Money.” This headline was on the cover of the October 2008 issue—immediately before an epic financial crisis and market meltdown. In early October 2008, the Dow Jones Industrial Average …
Legendary investor Warren Buffett once said, “Only when the tide goes out do you discover who’s been swimming naked.” This was the billionaire’s iconic way of saying that risky financial behaviors inevitably get exposed when economic conditions change dramatically. Unless you have been snoozing the last 6-8 months, you probably know the economy is changing. …
He had his eye on some land. “Daddy always said land was a smart investment. I think so too. They’re not making any more of that,” he said with a smile. “I could borrow the money,” he continued. “But I look at those amortization tables, and it kills me to see how much interest …
“I bet you’re getting a lot of calls.” I could tell by the background noise he was driving with his windows down. I suppose calling to needle me seemed a good way to pass the time. I didn’t take the bait. “Calls about what?” “This dang market,” he said. “Inflation is out of control. Fuel …
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