Global Economy, recession, depression, or...

Chile Investment, how to invest in Chile, what to watch out for when investing, economic issues, currency exchange in Chile, and more.
User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Thu Jun 25, 2020 10:45 am

Thus, my belief in holding mostly hard assets.

Yes, and stocks, but the kind that are in demand as economies flop around trying to desperately restart their economies with stimulus money.

copper is my favorite. No copper, no civilization. been that way for a good 5,000+ years. If the global economy stops consuming copper, we all got way bigger problems; and, it will be priced in something. Perhaps salt patties or seashells, but something.

real estate is still working. Our family just sold a property that had been on the market for 5 years with no serious interest. It was purposely priced high, as we were in no hurry. Two buyers made offers within a day, and we took the higher offer.

We had a client's property in a remote location in the Patagonia that was hardly advertised and had no interest for several years, get three offers in a couple days.

Then, just yesterday, we had a real estate agent track us down to make an offer on property we own that was not even for sale.

We have not seen this much action in southern chile since back during the U.S. mortgage run in 2006 or 2007. The difference right now, these are Chileans leaving Santiago, and they don't seem to care too much about the price.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
FrankPintor
Rank: Chile Forum Citizen
Posts: 1362
Joined: Thu Aug 09, 2007 4:53 pm
Location: Buenos Aires, Argentina

Re: Global Economy, recession, depression, or...

Post by FrankPintor » Thu Jun 25, 2020 4:59 pm

hlf2888 wrote:
Wed Jun 24, 2020 8:41 pm
thanks eeuu, I was thinking perhaps Cascadia was the part of the US that wanted to leave the union and New madrid was a movement to secede starting in Texas. lol
I think Cascadia has been wanting to leave the union for a few hundred years already... did you read this? https://www.forbes.com/sites/robinandre ... bfd6a8506f
Caracas es Caracas. Lo demás es monte y culebra!

nikotromus
Rank: Chile Forum Citizen
Posts: 272
Joined: Wed Jul 26, 2017 10:12 am
Location: Lolol Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by nikotromus » Thu Jun 25, 2020 8:03 pm

admin wrote:
Thu Jun 25, 2020 10:45 am
Thus, my belief in holding mostly hard assets.
Admin haven't you heard of the slogan "if you don't hold it, you don't own it". er... Damn I messed it up. I think it's more like "Hey boy - if yew don't hold it yew don't own it. Downcha know nothin?"

Copper sounds interesting but man you'd have to own a bank vault to get the volume to work out. ;-)

User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Thu Jun 25, 2020 9:18 pm

nikotromus wrote:
Thu Jun 25, 2020 8:03 pm
admin wrote:
Thu Jun 25, 2020 10:45 am
Thus, my belief in holding mostly hard assets.
Admin haven't you heard of the slogan "if you don't hold it, you don't own it". er... Damn I messed it up. I think it's more like "Hey boy - if yew don't hold it yew don't own it. Downcha know nothin?"

Copper sounds interesting but man you'd have to own a bank vault to get the volume to work out. ;-)
O.k., I will go out buy a gold mine right away.

That is most rediculas argument for how to hold an asset ever. Even if I physically own it, I still don't set the value either. It needs to be in a form to easily exchanged.

Have you heard the saying, 'it takes two to tango'?

It takes at least two people for an asset to have value.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Thu Jun 25, 2020 9:23 pm

meanwhile, back in the real world, codelco continues to cut back operations.

https://www.df.cl/noticias/empresas/min ... 90619.html

so far they seem to focusing on the expansion projects, but their output is probably next. even cutting back on those future projects, will have eventually just add fuel on the copper price fire.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

nikotromus
Rank: Chile Forum Citizen
Posts: 272
Joined: Wed Jul 26, 2017 10:12 am
Location: Lolol Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by nikotromus » Thu Jun 25, 2020 9:49 pm

admin wrote:
Thu Jun 25, 2020 9:18 pm
That is most rediculas argument for how to hold an asset ever. Even if I physically own it, I still don't set the value either. It needs to be in a form to easily exchanged.
We're on the topic of "Fiat currencies are going to hell in a handbasket" and this is the most ridiculous argument you've ever heard? Give me a break. If the sudden and dramatic collapse of these fiat currencies does take place, it might be smart to at least have a little something in your possession besides paper contracts.

User avatar
tiagoabner
Rank: Chile Forum Citizen
Posts: 1094
Joined: Sat Mar 04, 2017 9:48 am
Location: Concón

Re: Global Economy, recession, depression, or...

Post by tiagoabner » Thu Jun 25, 2020 10:24 pm

If all currencies collapse, that means that the whole world economy has completely collapsed. It isn't impossible, although it is highly unlikely. It's kind of hard to go bankrupt when you can "print" money, and governments don't take those that dispute the value of money in a good light. There's a reason why sovereign citizens are considered terrorists in America, and it isn't due to their disregard for traffic laws.

You might as well start to feed some Plutonium to your pet iguana while you're at it to have it grow into a giant mutant iguanosaurus. If all currencies crash, that would certainly give you an edge in the post-apocalyptic world. I would advise dropping the furry underwear, though, as that's a bit "too eighties".
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

nikotromus
Rank: Chile Forum Citizen
Posts: 272
Joined: Wed Jul 26, 2017 10:12 am
Location: Lolol Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by nikotromus » Thu Jun 25, 2020 11:25 pm

tiagoabner wrote:
Thu Jun 25, 2020 10:24 pm
If all currencies collapse, that means that the whole world economy has completely collapsed. It isn't impossible, although it is highly unlikely. It's kind of hard to go bankrupt when you can "print" money, and governments don't take those that dispute the value of money in a good light. There's a reason why sovereign citizens are considered terrorists in America, and it isn't due to their disregard for traffic laws.

You might as well start to feed some Plutonium to your pet iguana while you're at it to have it grow into a giant mutant iguanosaurus. If all currencies crash, that would certainly give you an edge in the post-apocalyptic world. I would advise dropping the furry underwear, though, as that's a bit "too eighties".
If I had to vote for what would be more likely in 3 years, A: 35% decline in the value of the dollar, or B: Hyperinflation with a collapse of the USD currency and the world fiat currencies with it, I would choose B. You're being dramatic with your descriptions of the future, and that is fine. Though, I'm not envisioning scenes from "The Road".

But, I do think that there will be a tense and chaotic transition period between where we are now and where we will be with the new system that will take it's place. And there WILL BE a new system to take the place of what we have now (likely crypto of some sort). There has to be enough pain that the people will be begging for the new system.

Am I putting all of my money into sheets of 3/4" plywood and Jack Daniels Tennessee whiskey? No. But, you know, a little. If a wheelbarrow full of cash will no longer buy a loaf of bread, a pack of .22 long rifle bullets might.

How much time do you think is left when a trillion a month is being stacked onto this beast? Another 36 months? It's possible, but it doesn't seem likely to me. Then again, it's already gone WAY further than most people thought it would. My guess is it won't survive the 'second wave' of cooties.


Screen Shot 2020-06-25 at 9.19.30 PM.png
Screen Shot 2020-06-25 at 9.19.30 PM.png (183.07 KiB) Viewed 427 times

User avatar
hlf2888
Rank: Chile Forum Citizen
Posts: 902
Joined: Mon Feb 14, 2011 6:19 pm
Location: seventh region

Re: Global Economy, recession, depression, or...

Post by hlf2888 » Thu Jun 25, 2020 11:30 pm

FrankPintor wrote:
Thu Jun 25, 2020 4:59 pm
hlf2888 wrote:
Wed Jun 24, 2020 8:41 pm
thanks eeuu, I was thinking perhaps Cascadia was the part of the US that wanted to leave the union and New madrid was a movement to secede starting in Texas. lol
I think Cascadia has been wanting to leave the union for a few hundred years already... did you read this? https://www.forbes.com/sites/robinandre ... bfd6a8506f
more than one way to secede ;-)

User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Fri Jun 26, 2020 9:48 am

On my 'to have' list of things I will need in the event of an apocalypse ( like imagine a global pandemic occurred), gold is absolutely at the very very bottom (like never) of the list of things I am interested in having stashed away.

Things like, rural property at the end of the earth, a greenhouse, tools, vehicles (one diesel, one gas), etc, etc. woops, already got all of that.

Even if it does become the go to global default currency, I sure as hell am not going to horde it in my house or even under the rose bush. That is just begging for trouble.

Now, at the right price, I might however be inclined to go mine it (there is a lot of gold in Chile under those volcanoes, and I know where find it). Even then, the objective is to immediately sell it to some sucker that likes the yellow color. Gold in itself means no more to me than RMB, dollars, or anything else.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Fri Jun 26, 2020 5:12 pm

the only free lunch in investing is diversification, and that for me so far has paid big in this pack of black swans.

a little of everything is a good hedge.

some of my investments have done good. some have crashed and burned. some crashed, but I am pretty certain will recover. others, kiss that money goodbye. but overall, to this point, I believe I am ahead.

but, there is no way I would for instance dump everything I own in to one single investment, unless someone provided me a time machine or a 100% functioning crystal ball.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
admin
Site Admin
Posts: 21999
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Global Economy, recession, depression, or...

Post by admin » Fri Jun 26, 2020 5:16 pm

not sure where I seen it. the other day someone said, "this is worse than a war. at least in a war you can runaway".

that is the problem. where do you hide?
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

Post Reply