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While all the predictions were somewhat negative, but realistic about the economy, to use the term "scary" is media sensationalism at its finest. Objectively,
by byteCoder 18y ago
While all the predictions were somewhat negative, but realistic about the economy, to use the term "scary" is media sensationalism at its finest.
Objectively, we all need to prepare ourselves to weather this economic storm. Whether or not that's "scary" is a personal opinion. Personally, I'm not scared. However, I'd like to believe that I will continue to react to the situation in rational ways (unlike the political classes, unfortunately, who seem to be in full panic mode).
- Retric 18y agoIt's better to stay in things with low returns rather than to lose 50% of your wealth. You should preserve capital. It'll be hard and challenging enough. "When people are fearful be greedy when people are greedy be fearful" 12 months ago most of these people's advice was terrible what makes people think it's gotten better after that? It's possible to make good money by riding the economy at large, but generating actual wealth vs. paper fortunes necessitates the same approach in up and down markets. Find an inefficiency in the current system and exploit it.
- josefresco 18y agoKeep in mind we're all pretty young here at HN and are years from retirement (and if you're like me also pretty broke). If you were older and heavily invested in the market/your home and 2-5 years away from retirement, you'd be pretty scared about how you're going to support yourself as you get older and your health fails.