Saving Fortunes. One of my best friends complained to me yesterday that he had a whole lot of money to invest and that there was no safe place to put it. I called it a trifecta. He understood this too. All the main places to invest i.e. property, stocks, and most other investments are risky right now. Even when I asked my broker about investing in China indirectly through American mutual funds invested heavily there, he said, "The government of china might be able to hold it together until after the Olympics but you really don't want to long term invest there now. The ten percent per year growth there is not sustainable. There has to be a serious correction at some point." He also said it might be time to sell Citigroup just like Goldman Sachs said yesterday. I felt really bad about this because I thought maybe I could hold on to this stock so it could in a small way stabilize the US economy but I saw that if they aren't able to give dividends next month the stock could tank so sadly I agreed with him. So sadly, I began to see the trifecta forming of No Safe Investments. It reminded me of my grandfather burying $25,000 dollars in a coffee can under his lawn during the great depression because like now banks may not be a safe place to put your money unless the accounts are federally insured and under 100,000 dollars.
It also reminded me of the Savings and Loan Crisis after the Viet Nam War in the early 1980's when all the Savings and Loans collapsed or had to become banks instead.
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