Robert
2008-10-16 17:51:14
A Greater Depression would be the perfect time to “go John Galt”. You raise as much cash as you can, knowing prices of everything will plummet, and cash you hold can easily therefore increase in value 10-fold to 20-fold. Even those who have accumulated a few tens of thousands of dollars in wealth and have it safe (meaning out of the banking system!) could probably live comfortably of accumulated wealth if tax rates on income get raised unbearably high. Those who aren’t working and making money don’t owe taxes, no matter how high the rate is. If government jacks up tax rates to 90% like in the last Great Depression, that would be a great incentive for those who are prepared with a nest egg to live off of to just retire.
