The USA is not North Korea, people can do whatever they like, and if they choose to indulge in extreme risks, they're at liberty to do so.
Were you around in 1987?
I was. I had several properties, mountains of debt and pile on disallowed, a young thruster making an absolute killing. I heard about the lunacy going on at disallowed in October 1986, so decided to pay a visit.
The scene down there was very chaotic as investors, or maybe I should call them gamblers, cheered on their shares going higher and higher. All very noisy. Having read a few books on manias I decided this was definitely one, so started selling off and paying down debt on my properties in case the worst came to the worst, which it did.
Like gold in 2011, I got out too early, but I got out, but the lunacy went for another year.
Signs of excess were everywhere. Champagne parties, interest rates spiking higher and higher, you couldn't buy a new car for love nor money and if you could, you could sell it for more than you bought it for. Everyone was gambling on disallowed, at work the sandwich cutters couldn't stop talking about their latest 'investment', a very serious warning of gross excess.
In the end it was pretty tragic, an employee of a firm I used shot himself. I lived to fight another day, kept my properties and started drip feeding money back into stocks once the dust settled and did OK.
It was much the same in 2007, I backed off because of the signs of excess and kept my money.
Do you see that now?
I remember this young lady and her very good looking chalkie mate.
