Talk Irvine

General => Economy & Finance => Topic started by: Compressed-Village on September 14, 2018, 01:43:23 PM

Title: Financial Crisis 2020
Post by: Compressed-Village on September 14, 2018, 01:43:23 PM
What about FINANCIAL CRISIS 2020? What are you doing NOW to protect your families and assets when the next ones comes?

https://www.marketwatch.com/story/roubini-10-reasons-why-conditions-will-be-ripe-for-a-financial-crisis-by-2020-2018-09-13 (https://www.marketwatch.com/story/roubini-10-reasons-why-conditions-will-be-ripe-for-a-financial-crisis-by-2020-2018-09-13)

10 - Good and clear reasons that will lead up to it.

Nouriel Roubini - is one of few economists who predicted the housing bubble crash of 2007-2008. He warned about the crisis in an IMF position paper in 2006. Roubini's predictions have earned him the nicknames "Dr. Doom" and "permabear" in the media

Title: Re: Financial Crisis 2020
Post by: irvinehomeowner on September 14, 2018, 02:09:39 PM
Just hope it bounces back by 2025-30?
Title: Re: Financial Crisis 2020
Post by: Compressed-Village on September 14, 2018, 03:41:54 PM
I am certain that it will bounce back. In the mean time while you are in the middle of the storm, it could be a few years or it could be several years, what can you do NOW to ride it out.

For me:

1) Bulk up your rainy days funds.
2) Live within your means. Don't over leverage in both equities and real-estate.
3) Stay razor sharps on your skills and domain knowledge and be a subject matter expert in your field. Because the jobs market will shed employments as the financial market stress heighten.
Title: Re: Financial Crisis 2020
Post by: nosuchreality on September 14, 2018, 04:40:41 PM
JIMHO, Roubini has been touting his prediction of the prior crises and the next eminent crisis to peddle his 'advice' every year since 2012.

Title: Re: Financial Crisis 2020
Post by: qwerty on September 14, 2018, 05:20:06 PM
Perhaps this goes with your number 1, have plenty of cash on hand to buy when the equities are low.  Doesn’t do much good if you are all in on the market
Title: Re: Financial Crisis 2020
Post by: Bartot05 on November 11, 2018, 11:53:22 PM
Financial crisis can come in anyone’s life and at any time and this is why it is advised to be prepared for such times. Savings can be done in many forms. I have chosen capital investments and now would be buying Capital gain Bonds (https://www.goodmoneying.com/capital-gain-bonds-save-capital-gain-tax-sale-property/) to save some money on taxes after property sale.
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