Financial Advice Thread
Have any questions about money, jobs, or running a business?
Perhaps you are looking at purchasing a house, lowering your bills, etc...
Maybe you want to invest your money somewhere or figure out a way to make some money on the side.
Anything financial. Just ask me and I will respond to you with a well-informed answer.
sorry for ruining your thread,but....
any financial advices i advice the doctah Acse
yep. but he will make you buy hooked on phonics -__-
Originally Posted by mgsplayer
i'm really serious though.
for example, right now is one of the best times to buy a mortgage! the U.S. is a really great place to buy a house now, depending on the location. however, other countries will vary.
if you have any gold, or other jewelry (check with me about it), then sell it to someone quick. the value of gold has skyrocketed recently because people invested in the subprime mortgage market, as well as those indirectly affected by it, have shifted tons of money into markets like these. if you go to your local jeweler, you may find increased prices now.
unfortunately, other more essential commodities like wheat have increased significantly too. many poor people around the world are suffering from increased food prices because of this. many people think the increased demand for food from rapidly developing countries such as BRIC (brazil, russia, india, china) have caused a sharp rise in commodities. the world bank fears inflation in commodities, but i will go so far as to claim that people are overinvesting in commodities. economist tend to not agree on where agriculture prices will go in the future, but you can expect higher prices for food for quite some time now, maybe a year but it depends on events unraveling right now.
whatever, it gets really esoteric and complex if i get into the details.
Semi un related. But do you think that the USA will go into a rescission or full blown depression?
I have been tempted to write pages upon pages about this. Instead, I am going to try to be as brief as possible.
USA will go into a recession, not a full blown depression.
Depression is such a subjective word with lots of "wiggle room", and economists throw the word "recession" around differently than most people. Earlier, economists were leaning towards a mild recession. This guy's analysis is most correct in relation to a multitude of perspectives on the subject, but many things can happen to change the biggest current problems:
U.S. faces severe recession: NBER's Feldstein - Yahoo! News
What really matters is how people and the government react to all this. In reality, their actions will decide the severity of the recession. For instance, that guy's remarks about the economy will probably spook the government into taking more action, but, if the government takes too much or too little action, the economy's suffering will increase in magnitude, time till economic recovery, or both.
The impact and length of the recession are much debated among economist.
The simplest resource is probably:
Economy News on Yahoo! News
That should keep you up to date.
If you so choose, this list of resources increases in difficulty level as you go down it:
America's economy | Articles By Subject | Economist.com
Economy - WSJ.com
RGE - United States
National Bureau of Economic Research Links to Government Agencies - follow the Federal Reseve System links to economic research
If you want more details, then just ask.
This is a very small summary.
Books will inevitably be written about the economic events happening today.