"Last summer I saw another step down in the economy here , since then things have actually gotten much worse . To tell you the truth I have never seen people this tight with their money . I can't explain why but around July or August of last year a huge chunk of spending just plain disappeared . And those who are spending , want every thing for nothing . It's like no matter what the price is , they still want it lower .
Over the last 5 or 6 years since I retired I've done a lot of buying and selling . I've liquidated several construction companies , bought and sold mobility equipment , motorcycles and scooters etc etc . You name it I probably dealt in it . Right now I have nothing to sell except for maybe $1,000 worth of rare scooter parts . If they sell that's fine if they don't who cares , maybe I'll use them to restore another scooter some day ?
In my 62 years on this rock , I have never seen a time like this . It is as if last summer some one put some thing in the drinking water . Every one now has the worst DEFLATION psychology probably since the Great Depression .
What this has done for me personally now is it has stopped me from buying and selling , now unless I can buy really rare things at scrap prices I'm not going to bother . Basically I see two kinds of customers , those who have no money to spend and want it free , and those with money who want every thing for practically nothing .
Personally I think that negative interest rates are doing nothing to increase spending , in fact I think it's hurting spending . Seniors who were living off of the interest on savings , have had to cut spending dramatically . IMO all the money that savers have and are losing , is doing nothing but repairing the banks balance sheets .
Another thing I've noticed is a lot of anger , you see it at the so called Tea Party events , I see it on the internet in chat rooms like this one . People have lost a lot on their homes , their retirement funds , their autos and many have lost their jobs and they are pissed off .
I would hate to be in a business right now , that has a lot of infrastructure and a lot of expensive dated inventory . IMO we are looking at even worse times ahead here on Main Street .
IMHO we are going to see another substantial down turn and it will be sooner than later .
Any one thinking of doing any thing like flipping some real-estate , better be able to hang on to it for a long time if need be . As much as I expected this , I am not liking what I am seeing . When the government begins pulling back , look out below .
TheReaper!"
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