From shirt sleeves to shirt sleeves in three generations: The first generation makes the family rich, the second generation squanders it, the third generation starts over. Pat Buchanan on today's reality:
What the Greatest Generation handed down to us–the richest, most powerful, most self-sufficient republic in history, with the highest standard of living any nation had ever achieved–the baby boomers, oblivious and self-indulgent to the end, have frittered away.
So, anybody have any investment advice? I thought about putting cash in my safety deposit box, but the printing of tons of paper money this past week is sure to lead to inflation. Gold? Great option three years ago, but it has nearly tripled in price during that time, so I have a hard time believing it's still a good buy. Money markets? Didn't they almost topple on Wednesday? A Dow Jones index fund? Yeah right. Exchange traded funds with an emphasis on the Far East and developing nations? That's where I've been heading . . . and been taking a bath doing it. U.S. Savings bonds? That's my best guess, but I gotta believe they're going to slash interest rates shortly.
Any advice? Anybody? Bueller? Bueller?
Loosely-related: Does anybody have any advice on what kinds of food store the longest? If I, for instance, buy a five-gallon can of beans, will that keep ten years? Just five? Two? (This site says 2-5 years.) Any advice or links in this regard are greatly appreciated. (For the record, I am not going into survivalist mode, but (i) it doesn't hurt to be safe, and (ii) with food prices increasing at 20% annually, it makes economic sense to lock into prices now (and at last check, there are no food mutual funds).)
