Originally Posted by justatransgirl
Well, I don't want to poo-poo the doomsayers. We have a country that exported all our jobs and manufacturing overseas. We no longer produce anything but war. The tax burden is crushing the economy. Add up all the taxes and fees you pay - 39% fed income tax, 9.2% state, then add 7.75% sales tax on everything you buy/earn - there's 56%. Then add all the rest, gas, phone, property tax etc. It's all too much.
But I'm here in Las Vegas right now with my business partner looking at foreclosures. The Strip is packed with people. The population is expected to increase by 1 million people in the next 10 years. Big residential construction is at a halt - which means in about 18 months there will be no new inventory and existing homes will start increasing due to demand for housing - and the cycle will resume.
There are at least 9 major projects underway, two brand new hotel casinos, the South Point and Red Rock. And over 30 billion in new projects planned between now and and 2011.
The dollar is weak but it's not going to crash. The world economy is not going to crash either.
We just experienced a Huge run up in real estate around the world. To expect things to increase at 20% a year is unrealistic but now that things are pulling back to a sane level everyone is crying disaster. It's not a disaster if you took your profits and reinvest wisely.
The stock market just had the largest one day increase in history. Today it went up 400 points - I made over $30,000 in the past two weeks just moving in and out of the DJI index . Now is a great time to day trade. I'm trading off my frigging iPhone during lunch even!
Visa is releasing the biggest IPO in history. Get a piece of it if you can. It's a no-brainer. Visa will open around $40(we of course won't get that price, just the big institutions) but Mastercard is at $210. Do the math.
If your money isn't already in euros or gold, it's too late. Don't play the stock market if you can't take a short term loss. If you have cash buy land, in 5 years you will double your money. And the fact is, even if you don't people still have to have a place to live. People still need services, it's still a great time to open the right business.
That's what I think anyway. If I'm wrong I guess we will be back selling ass on Craigslist...
Giggle,
TS Jamie :-)