I realize if enough people do this it will make the crisis worse but IF stocks crash and things look bad and people run out to get groceries and oil and empty shelves.. are you going to pull money out of your bank? I have about 8000 in savings and I don't wanna lose that. I am considering it.
No, not I. I don't have enough money in the bank to make it worthwhile. Anyway, I think there would be nothing more than a shortage of cash after a run on the banks, but not a change in the amount of cash in your bank account. It's all electronic. Maybe I would use my debit card instead of cash for purchases. The people who would be hurt the worst in a bank run would be retail stores, and the like, who need to keep a cash drawer full of pocket change.
It will probably be safe, since the government guarantees's it.... oh, yeah,, sheet. What money I have in stocks will be out before the 17th (moved most of it last time in 2011, and did real well when I put some back in after the dust settled a little.).
It took 5 years to recover from my losses in 2008. I don't have that kind of time again, I was in my mid 50's then, now I'm in my 60's and I am better off holding on to my current gains, parking my money and then if we do default, and get the 50% downtick in the market I expect, put my money back in then, I'll make out. Only about a 6th of my holdings are in stocks at this point. Frankly, due to my age and health issues, I am very risk adverse at this point in my life.
No. Some racist, extremist JERKS are trying to bring the country down to make a point. President Obama isn't the problem there.
I'd be better off if it did crash. Anymore, ya gotta be either filthy rich or dirt poor. Ya definitely don't wanna be stuck anywhere in the middle! So, since my chances of becoming filthy rich are somewhere around zero, I'll be content with dirt poor. I figure the Fed will create a few trillion and I'll head for the local social services office to claim my winnings.
Don't tell this to the Tea Party people. They're still living in this fantasy land where a government default equals a balanced budget.
Oh that makes sense then. You are going to live to see 100 though, have you seen some of the medical advances the private market came out with recently? They have a new drug that can stop cancer growth. Others that can target cancer cells and leave out healthy ones. I feel like medicine is about to take a huge leap. The stuff in clinical trials today is very promising.
If you are worried about the market crashing and decide to take your $8000 out of the bank ... Make it small bills. Since it will be pretty much worthless anyway ... At least that way you can burn it to stay warm for about 5 minutes.
