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As a poshute Yid looking to help others, I would like to post to the Oilam, to please watch over your money. We’ve been through economic meltdowns where people have lost fortunes, Moisdois have had difficulty surviving etc. Right now many are in places and positions of plenty. Please save your money, act with prudence, put away money for your families. It pains me to see the fortunes squandered, as the wheel of fortune and misfortune rotate.
We all know there will be another economic downturn, though none of us know when. It may be vicious. Real Estate, bonds, stocks are all at historically highly over valued prices, according to many experts.
Please for everyones sake. Take heed before it’s too late.
Thank YouIf you pronounced every cholam as “oy”, why not Chosa as choisa?
Because there’s no cholam in chasa. It’s two kematzim. It’s a rashi in chumash. I think it’s a gemara too. The quote is in past tense. I think it’s from parshas metzora when the cohen tells the baal habayis to remove his belongings before he is declares the house tamei
@tothepoint — Thank you for this essential advice. Can you please, specifically, advise me how to save my money, exactly what prudence I should engage in as well as what I should do with my overpriced real estate and stocks/bonds.
Yasher Koach!!
> but to remind us all of our feelings in 2008,
there is indeed a theory that crashes come at about every 20 years – when there is a new generation of financial advisors who do not believe that a crash can really happen again. Difference between personal experience and intellectual knowledge. We have a lot of Torah on that – that Noah believed and did not believe that flood is coming …
Nu, just bet against the market as a hedge. Buy some put options to bet against the sp500 and calls on the vxx. Problem solved.
Rosh Hashono 27a
re Shofarot.
Re spelling in title: either:
Mamonam, (he)
or Momonom, (yek.)
or momoinom, (Yesh.)
Or Mumoimom. (ch ).
an example of successful market strategy:
When Rav Huna was told that he is wrong not paying workers who already stole from him and paid them: either vinegar (literal “stock”) became wine, or price (NYSE stock) of vinegar went up. Maybe there is an economic pshat here: when people behave positively towards each other, there is less mistrust in the market, and the stocks go up. Similarly, Yaakov “created markets” and also urged shepherds to work the full day honestly without mistrust to each other.Another way to invest is in your own skills: have a profession/skills that is not tied to dealing with speculative things, like stock markets, but to something that can be useful in any market: plumbing, medicine, teaching and then you’ll survive the downturn.
I am not sure I understand the OP. Is he saying that people shouldn’t waste money on vacations in the middle of a pandemic. Who says if he saves this money in a bank or other investment vehicle it will be there when he needs it. Inflation and other market factors can reduce it’s value.
The money is his to spend it as he sees fit. He can spend it on himself, invest it for the future or give it away to charity.What if you save dollars which goes on to lose all value? What if dollars don’t lose their value but the banks crash like during the Great Depression? I’m thinking about investing in gold.
It’s crazy times. I don’t feel comfortable investing anywhere. I think the US is heading down the same road Venezuela is on. I don’t think the market will just crash once and then recover, I think it’s the end of comfortable times in the US.
despite all our complaints, the rest of the world generally moves money into US during troubled times. But diversify, of course. Yaakov kept two camps when meeting Esav. We mention on Purim that this was the time of high risk because all Jews lived in the same empire.
I don’t think gold is good thing to safeguard your money. Demand for gold will decrease in case of a financial meltdown. Guns and ammo, now that’s something valuable
I am not sure what is meant by invest in guns and ammunitions. If you mean invest in the companies I think many of them will go bankrupt. If you are saying buying actual guns there are restrictions as to weather you can even own guns in many of the communities where Jews live. Even those communities that allow it there are restrictions as to how many guns you buy. This is besides the hazard of a child or someone else misusing them.
Invest in art.
Is there a stable country that has frum infastructure, shuls, moisdos, etc. to invest in real estate at this time? I don’t consider Israel to be stable due to the government which is run almost like a dictatorship. The US is out of course. I don’t think it will last much longer.
Philosopher: Australia might be a good choice.
Ujm, is that a joke? The Australian government is worse than the Israeli government.
Philosopher: The UK is very accommodating lately, with few restrictions on personal freedoms. Perhaps that’s up your alley?
I meant to buy guns and ammunition. They will be in high demand and the value will rise significantly. Keep it in storage. I’m not aware of any limits. Yiu can buy them in New York state, just not in the 5 boroughs. Also in Connecticut. You can’t bring them back obviously, so you would need to pay for storage.
Invest in Russia: there is a Jewish community, people don’t care about COVID, there’s a lot of real estate. To diversify, invest in Ukraine, Poland, Lithuania, all Russia’s enemies, have lots of tzadikkim buried, so one of them will work out
Ultimate diversification: Yerishalaim and Rome. One of them is always up according to financial advisors from gemora megillah
Judging by the Shul signs, התורה חסה translates as: your property is up for grabs.
HaLeVi: Please thank you brother, on my behalf, for bringing you back here.
Sure. And you thank him for those wonderful titles.
In New York Statw if you posses 5 or more guns and are unlicesensed you can be charged with intent to sell which is a felony. Guns and ammunition is highly regulated and each sale must be reported to the ATF. If your intention is to be a licensed gun dealer then everything is fine but if your plan is to sell them from the back of your trunk that is illegal. As far as selling it to a gun dealer, he wil probably pay you a fraction of what you paid for it. So where is the profit.
You’re big-league wrong about gold. It is famous among investors as the commodity that they rush to when instability and recession threaten. The expression the use is “flight to safety.”
I think he’s interpreting the expression “mamonam shel Yisrael” as meaning that individual Jews’ wealth actually belongs to the Jewish collective, Yisrael, and that Jew who puts it to personal use transgresses this principle. There’s something to be said for that but within limits.
Retract that. Ammo contains explosives. Storing it requires special protections by law and by common sense. Venishmartem.
Invest in potatoes. No matter what the economy this will not run out of style. And I’m speaking of model 0001.00.
Potatoes haven’t been around for that long, relatively speaking. They’re an American discovery. Wait till the next best thing comes out and displaces it.
Potatoes like all fruits and vegetables will rot over time so unless you are in the business of buying and selling them, they are a poor investment.
@Abba_S, good point. In war time, those who’ve invested in sugar made it big. But I was referring to the potato market rather than a particular potato.
Also, I Hayley to think that silver is more stable than gold. The fact that gold is going up shows that it isn’t stable. Now, putting money into something stable is not an investment per sè (or is it sé), but it is good for inflation protection.
All this is only an issue for the מרבה נכסים guys. My biggest investment was a laptop.
Haleivy, you have a point. Potatoes and I think corn as well seems like good commodities to invest in.
Gold has actually been pretty stable, the value has not changed much over a year and the value it gained in previous years were pretty much in tune with inflation.
Yaakov Avinu went back to collect the pachim ketanim, small pitchers. For tzadikim their money is zahav tahor, pure money through no ganeiva. By the negah the house is emptied before declared tamei.
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