<DrumBeat: June 26, 2009 The Oil Drum DrumBeat: June 27, 2009>

175 comments on Have We Reached an Inflection Point in Economics History?: “Indeflation” and Energy

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mcgurme on June 27, 2009 - 10:10am Permalink | Subthread | Parent | Comments top

I recently contacted my University's HR department about this very issue. They wouldn't budge - the guy thought I was a lunatic for wanting to invest in gold and whatnot. He told me "we know what we're doing". Yeah, right.

Since I am so far away from retirement age (at least 15 years), this is a significant motivation for me to just quit my present university. At least then I can withdraw from my 403b (with penalties). That is probably a better option than loosing it all, which is what will happen if I wait too long.

Glad to hear someone got their university to think about this.

Morgan

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Jason Bradford on June 27, 2009 - 3:13pm Permalink | Subthread | Parent | Comments top

My wife and I have been out of those retirement accounts for years for the same reason. In the course Andre and I did together (see Post Peak Living, Uncrash Course) we spent a lot of time discussing this sort of subject as it is a highly relevant one for many people right now.

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rockhound on June 28, 2009 - 8:56pm Permalink | Subthread | Parent | Comments top

After losing more than 31% in my 401K in 2008, I decided to take a good look at how my money was to be invested. My company retirement account through Fidelity also does not offer anything other than Mutual funds and Bonds. In February, I decided to stop all pay deductions into the 410K. I lost another 5% in January. I figured it would be money better spent to put the measly 2% onto my debts than to waste it away into Funds. Even though there is company matching, I determined it was not feasible to just have the money sitting there losing value. I bought some silver (even though the price has went down some), but I still have a physical commodity with value. When the SHTF and the dollar is worthless, I can still atleast use the silver to eat a meal.

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porge on June 28, 2009 - 9:06pm Permalink | Subthread | Parent | Comments top

Why don't you by the meal now?
Even if you don't go the survivalist route and buy purpose made storable food, regular old canned items last a long time. Read the "best by" dates on tuna in oil or any canned food next time you are in the market.
Just the fact that food will continue rising is enough of a motivator to buy long term shelf life stuff now.
Died beans, pasta, canned pasta sauce, rice flour.....you get the point.
Might sound kooky and extreme now but it will look like a prudent move later.

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rockhound on June 29, 2009 - 12:45pm Permalink | Subthread | Parent | Comments top

I agree on your point. The reason why I decided on silver is because it is much easier to hide the months worth of food equivalent than the actual food itself. Because when THSTF there will be a large majority of every person for themselves mentality. It is much easier to hide a small box than a small room from the hordes. Because if people find out that you have food, some will want to take that food by force. Just look at every TV clip of refugee camps when the food truck arrives. Any semblance of order is short lived and then turns to chaos. It might seem dooms dayish, but I am just going with the general trend that I see. I would like to think that people are better than that. But when it comes to filling the belly, all nice and fuzzy feelings about humanity disappear.

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175 comments on Have We Reached an Inflection Point in Economics History?: “Indeflation” and Energy

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