When I walk through the town it seems like happy days are here again!!!  I am not sure if that is the general consensus, but even the activity on this board would seem to confirm that observation.  In my opinion nothing could be further from the truth, and as Peter Schiff of Euro Pacific Capital said in an interview on television recently, "This economic crisis is just beginning."  So do not get caught in a squeeze and preserve some capital for a rainy day.  I heard about the hard times some went through in 2008, and do not be misled by the distorted news releases that are presented by American media.

Yesterday I got a notice that a major REIT company purchased  a large chunk (almost 2000 acres) of desert in North Las Vegas, previously targeted for a planned community at a rate of over $19,000 per acre. These guys are very savy but thought they  really screwed up this time and called a friend of mine to tell her about it.

She said all of a sudden things are happening development wise in Vegas. She knew about the land in question. Also, she has been asked to find some commercial space for purchase by a friend of hers and a commercial contractor friend has a nice backlog to start the year.

So, your observations seem to have some credence, as does your advise though most will ignore it I expect. Schiff has some good points for sure but timing can be a bitch on these things...lol

http://en.wikipedia.org/wiki/Peter_Schiff

Good times. I especially like this part.

"After interviewing Schiff in 2009, journalist and finance author Eric Tyson referenced various Schiff predictions during the 2000s and stated that "On all of these counts, Schiff wasn't just wrong but ended up being hugely wrong."

Where's the fucking hyperinflation?

Anyways, Vegas seems to be bouncing off the bottom- hotel occupancy rates are up, the foreclosures are slowing down, unemployment's down a notch. It ain't 2007 again, but it's better than the free fall it was for a while.

He may be wrong at the present, but his track record up until that point was impressive.  That is the point, things are looking better, but we have not embarked on any meaningful change.  We are still running huge deficits, and someday our ability to finance those debts may be compromised.

No one gets it right all the time.  BTW, isn't this a fuck board?

I once read a post from a well established provider who was discussing her financial needs.
I was amazed that a person with this type of reputation did not have this type of cash sitting around.  It was just to encourage an attitude towards saving in our wonderful ladies.