Are we due for another economic crash?

Bandersnatch

Bandersnatch

Surin Solar Legend
BBC 2 hours ago: US stocks suffer worst week in a decade

The Financial Times today: Wall Street set for worst December since 1930s as global stocks retreat

The Guardian September: We are due a recession in 2020 – and we will lack the tools to fight it

As one gets older it is natural to become more risk averse. Losing your life savings at a point in your life when you cannot replenish them, is more of a fear than losing out on a rising market.

This year I have sold property in Hong Kong and Pattaya. The former sold under market value just before the market turned and in the later case after 2 years on the market and only by offering 50% owner finance. I have cashed out of my private pensions and increased my gold holdings.

Feel free to call me crazy
;;bad simle;;
 
First safe haven in times of panic........ GOLD!


Worked for the Thais....... I remember saying that the Thai gold price wouldn’t go above 10,000 Baht.


At least you didn’t switch into Bitcoins...
 
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Unfortunately, I do not have stock and shares, neither do I have any capital investments like a house I could sell. I am totally reliant on my three pensions, two Government related and the third a private pension. What will be will be - there is bugger all I can do about it. Fall back plan - rob a bank.
 
"Annual income twenty pounds, annual expenditure nineteen pounds, nineteen shillings and six pence, result happiness.
Annual income twenty pounds, annual expenditure twenty pounds and six pence, result misery."

Charles Dickens, David Copperfield

I think what Dickens is saying is that it is possible to happy or miserable on any income.
 
nomad97 said:
Unfortunately, I do not have stock and shares, neither do I have any capital investments like a house I could sell. I am totally reliant on my three pensions, two Government related and the third a private pension. What will be will be - there is bugger all I can do about it. Fall back plan - rob a bank.
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Income is permanent................capital can be temporary, as I have seen with many Farangs arriving on the shores of Thailand.


3 pensions will undoubtedly tick the boxes for Immigration - and keep the wolves from the door.


When I have seen Farangs relieved of their hard-earned capital, it is those with pensions/income streams that have survived.
 
nomad97 said:
Unfortunately, I do not have stock and shares, neither do I have any capital investments like a house I could sell. I am totally reliant on my three pensions, two Government related and the third a private pension. What will be will be - there is bugger all I can do about it. Fall back plan - rob a bank.
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I also do not have any investments. However, I do have land and a house which, together with the Mazda, I paid for with my pension lump sum. The land could be worth in excess of Bht 3,000,000.00 now.
 
CO-CO said:
Income is permanent................capital can be temporary, as I have seen with many Farangs arriving on the shores of Thailand.


3 pensions will undoubtedly tick the boxes for Immigration - and keep the wolves from the door.


When I have seen Farangs relieved of their hard-earned capital, it is those with pensions/income streams that have survived.
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Income is indeed permanent, but as Brits know only too well, government state pensions do not increase in line with inflation, as they would do if they lived in the UK. or indeed some other countries including the Philipines. Hence it is a declining income, which may not keep the wolves from the door if one lives too long.
 
Prakhonchai Nick said:
Income is indeed permanent, but as Brits know only too well, government state pensions do not increase in line with inflation, as they would do if they lived in the UK. or indeed some other countries including the Philipines. Hence it is a declining income, which may not keep the wolves from the door if one lives too long.
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I would suggest that if one only had a state pension, one would be f**ked quite quickly.
 
Yorky said:
I also do not have any investments. However, I do have land and a house which, together with the Mazda, I paid for with my pension lump sum. The land could be worth in excess of Bht 3,000,000.00 now.
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You did well to get the land in your name Yorky.
 
I built up a portfolio of Unit Trust ISAs. They appear to be fairly steady performers and I elect the dividend income is reinvested. I opt to use the roulette analogy and ‘let them ride’ as I would lose my tax free benefits if I sold.
 
Eanto said:
I built up a portfolio of Unit Trust ISAs. They appear to be fairly steady performers and I elect the dividend income is reinvested. I opt to use the roulette analogy and ‘let them ride’ as I would lose my tax free benefits if I sold.
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........ but you could buy some decent crockery....:grinning:
 
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