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post #91 of 118

Alex you are not really disagreeing with me at all. I think it's quite possible that what is going on in Egypt was sparked by Tunisia. The bottom line here is, globally people resent being economically and politically repressed. The stuff going on in Europe, the austerity measures is more like social dismantling. The dynamics are completely different here, but there is stuff percolating just under the surface.

 

A global political awakening is taking place, because people are relying more and more on social media, like the internet, facebook, and twitter. It's getting harder and harder for the powers that be to control the masses via traditional media.

 

And I totally agree with your thought that this is not the first unsettling development nor is it likely to be the last.

 

In the mean time...

 

post #92 of 118
Quote:
Originally Posted by KneelJung View Post

We got folks showing up at political rallies here with rifles strapped to their back wearing tee shirts that read from time to time the tree of liberty needs watered with blood; or carrying signs that read this time we came unarmed. Politicians giving voice to the notion that maybe it's time for 2nd ammendment solutions. IMO there is something very unsettling developing in the world.


 

No different than the anti-war/anti-Bush protests during the Bush administration. Look around and you'll find plenty of signs advocating the assassination of a sitting President, accusing the US Government of murdering thousands of Americans in order to justify two wars and a crackdown of civil rights, calling for the overthrow of the US government by communist revolution, etc. Every side has their nuts.

post #93 of 118

Marvin you make a fair and valid point. However I dont recall people carrying placards advocating for the assasination of Bush. That earns you a visit fron the secret service,

post #94 of 118
Quote:
Originally Posted by KneelJung View Post





I get where your coming from Erik but what sparked the 92 riots and rioters was those folks were in essence giving voice to what they thought was injustice. They felt like the system completely and utterly failed them. Isnt that essentially what's driving the stuff in Egypt and more recently Tunisia. There is a good deal of civil unrest in a lot of places. We got folks showing up at political rallies here with rifles strapped to their back wearing tee shirts that read from time to time the tree of liberty needs watered with blood; or carrying signs that read this time we came unarmed. Politicians giving voice to the notion that maybe it's time for 2nd ammendment solutions. IMO there is something very unsettling developing in the world.



 

Not entirely.

There was some of that in the first few hours. Then the theme became "free stuff." I saw people of different races and backgrounds come together to loot in harmony.

There was also an immense amount of insurance fraud. A lot of businesses cleared out inventory and torched the place.

And much else. The standard media account only gives you a partial view.

Also, the system didn't fail anyone in particular. The jury actually had the right decision. At the time, the police were very limited in non-lethal force. If you watch the full video, you'll see the police violently attacked, with several being knocked down. It doesn't look good, but the only option they had (short of shooting) was using the check swing with their batons. If you use a full swing, you will shatter bones. I don't know if you've ever handled a baton (I have) but it's not difficult to kill someone with a good swing. It'll shatter a skull, no problem.

But the officers didn't use lethal force and kept using the check swing, which is non-lethal. It was the only option they had. Arguably, it went on longer than it should have.

The problem there was that the DA dropped all the lesser charges and only kept the felonies. That was a tactical mistake. They weren't guilty of the major felonies, but might have been convicted on the lesser charges.

Also, keep in mind that South Central was a pretty lawless place to begin with. Before the riots, I'd hear dozens of gunshots every night, all night. Really bothered me at first, but I eventually learned to sleep through it. Gangs, drug-dealing, prostitutes, etc. were all easily found.

What really stopped the riots was when they shut down the government offices. The riots started on April 29, but stopped around May 1. The first was when welfare benefits were handed out. Everything came to a halt when it became clear that there would be no benefits unless everyone settled down.

I'd classify it as more of a temper tantrum than a serious attempt at political change. There wasn't anyone asking for serious reforms, unlike Tunisia and Egypt. It was more about getting a free TV set, cartons of cigarettes and raiding liquor stores. Then everyone knocked it off when they couldn't pick up a welfare check. I would not call that an effort to change the system.
post #95 of 118
Thread Starter 

My bar finally arrived today. It has a nice weight to it. My guess is that silver will go up this coming week. Good timing.

post #96 of 118
Quote:
Originally Posted by KneelJung View Post

Marvin you make a fair and valid point. However I dont recall people carrying placards advocating for the assasination of Bush. That earns you a visit fron the secret service,


They were around then. I used to see the graffiti and occasional poster every now and then up here.
 

Quote:
Originally Posted by mralexosborn View Post

My bar finally arrived today. It has a nice weight to it. My guess is that silver will go up this coming week. Good timing.


Congrats on the brick!

post #97 of 118
Thread Starter 

It has a pretty nice weight to it. Very shiny too. Not great quality but it is just bullion; it won't degrade the value. 

post #98 of 118
Quote:
Originally Posted by mralexosborn View Post

It has a pretty nice weight to it. Very shiny too. Not great quality but it is just bullion; it won't degrade the value. 



You promised me that I would get to eat it :(

On a side note: Good luck. Maybe you'll earn around 10 dollars by the end of this year.

post #99 of 118
Thread Starter 

I am wondering whether or not to visit my local coin shop to buy more PM. Either a 1/10 oz gold Eagle (or the like) or a couple 1 oz silver round. What do you guys think?

 

You know, it is not nice to mock!

post #100 of 118
Don't get hung up on the shiny stuff.

Look for investments that provide returns. I've never liked assets that simply fluctuate in value.

Either that, or something that provides actual use. Last summer, I practically stole an old Stanley Bedrock No. 605 plane from an antique store. No, I didn't steal it - I paid the asking price. With a big grin. It was priced well under market.

Prices for old tools have been steadily increasing. Though they could also go down. In either event, I have a workshop and can actually use the 605. It's a fine plane and I will get plenty of use from it. The price I paid is quite fair considering its utility to me. Even if prices crash, I'll be able to use it the rest of my life.

The way I see it, I can use the 605 and get a lot of value or sell it at some time and make a tidy return on my investment. Either is good and the market doesn't matter. Though I'm not planning to sell. I'd love for it to stay in the family.

Similarly, I'm thinking about buying a fully depreciated Corvette or Harley. Historically, they tend to increase in value after hitting bottom. But even if they don't, either would be lots of fun. And, certainly, they won't depreciate the way a new one is guaranteed to. Also fits with my philosophy of not paying interest on a depreciating asset. That's a loser, unless you get to write off the depreciation the way you do with real property. Real property can also generate income, which is a very good thing.
post #101 of 118
Thread Starter 

It is just that I want to start a real collection. I have collected shot glasses, post card, and a few Zippo lighters, yeah, they are cool but not like coins. For some odd reason coins appeal to me. 

It kind of started when my mom (who was living in Ukraine when the Soviet Union collapsed) told me about how when the Soviet Union did collapse, all the people who stored cash under their pillows lost their life saving while the others who kept gold and silver were fine.

Now, I am not oblivious to your point but I don't see anything else I can invest in at the moment and I don't want to just have my cash sitting in the bank. 

 

I honestly want you advice, what can a 15 year old invest in? I can't own cars, property, land, or anything else I would want to if I could. What do I do?

post #102 of 118
I started buying stock at 13. Your parents can help you out. Also look into various retirement accounts like the 401(k) and IRA. If you have 50 years to retirement, pull up some online calculators to see what $1,000 compounded for 50 years arrives at.

As for a collection, you can't really go after anything currently popular. It's all overvalued and no one just getting in will make much. I've always gone with Marv's advice. Marv used to run a junk shop in Oregon. Old bushy-haired guy who initially came across as gruff and grumpy. But he turned out to be a great guy and I used to talk with him for hours. At the time, I was a student on a limited budget trying to furnish an apartment - I bought lots of old furniture, tools, light fixtures, appliances, and other stuff from him. I fixed the stuff up myself and now have a decent collection of antique furniture. But all of it started off as junk, for $10 or $20, maybe a little more.

Anyway, Marv said that people wanted stuff, threw it away, then wanted it again. That things become interesting around 40 years out, become kinda established around 60-80, then are firmly established by 100. Most stuff is thoroughly depreciated by 20-30 years out and completely unfashionable.

The trick is to look back around 20-30 years and find out what was high quality and fashionable at the time. That's the stuff that becomes hunted by collectors in another 10-20 years. You'll look eccentric if you buy it now, but people will eventually think you're sharp.

Back in the mid-1980s, my friends and I would go to the W6TRW swapmeet. It's still going on and I still go when I can. But back in the 80s, I remember seeing box after box after box of "worthless" vacuum tubes, tubed hi-fi gear and other goodies. Who wanted that old junk? $100 bucks could buy more of it than you could carry. No one wanted it.

I haven't been collecting much lately, but a few years back, I bought up quite a few of the old all-in-one Macs. Most were around $5-$10, but I also picked up ones left out for trash collection. I have them stored away. And I used to work at a Mac repair shop in high school, so I've gotten them all working.

You might think they're worthless, but people used to think old tubes were worthless. Back then, people loved their old Macs. Believe it or not, the Apple Cult might have been even stronger back when the "Apple is going to die" stories ran every month. Then everyone moved onto newer machines and dumped the old ones.

Right now, the oldest Macs are about 25 years old. I'm wagering that in another 15 years, people are going to take a serious look at retro computing. At the time, nothing had more love and devotion than the all-in-one Macs. I've only got a couple hundred into the collection, but I think there's a fair chance I'll turn them around for a nice gain. Maybe I'm an eccentric, but then again, the people who snapped up old tubes and LPs for nothing have done pretty well.

If I were you, I'd look at high-end and popular consumer electronics from the 80s and 90s. Stuff at junk stores and garage sales for a few bucks. There's a good chance that people will start forking over big bucks for a little slice of their youth in 20 years. The game cartridge you buy for a quarter might eventually be worth $200 to someone in their 40s who wants to play it again or share their favorite game with their kids. Same reason why cars that were popular when people were teens jump in value once those people get into their 50s and 60s.
post #103 of 118
Quote:
Originally Posted by mralexosborn View Post

 

I honestly want you advice, what can a 15 year old invest in? I can't own cars, property, land, or anything else I would want to if I could. What do I do?



You can invest in yourself with better education, how about that?

 

If you are seriously into investing, get a degree in accounting, economics, finance, statistic, engineering or even law.

post #104 of 118
Quote:
Originally Posted by Cankin View Post



Quote:
Originally Posted by mralexosborn View Post

 

I honestly want you advice, what can a 15 year old invest in? I can't own cars, property, land, or anything else I would want to if I could. What do I do?



You can invest in yourself with better education, how about that?

 

If you are seriously into investing, get a degree in accounting, economics, finance, statistic, engineering or even law.



While I always agree that an education is a good thing, I have to say that I definitely agree with Uncle Erik as well. I wish that when I was 15, I had played with investing some of my money instead of letting it sit in the bank. The return on interest on Savings, Checking and even the CD my mom convinced me to open up were useless, and at 15, with few obligations, bills, etc, it would have been the perfect time to play with investing in stocks and learning from loss.

post #105 of 118

How does a 15 year old invest in education?  They have to graduate high school first.  I doubt a 15 year old can make enough to send their self to a private school.  I don't even get why a 15 year old should be even worrying about investments.

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