On 2009-02-02, F George McDuffee wrote:
On Sun, 01 Feb 2009 22:34:42 -0600, Ignoramus13011
wrote:

The one implication is that if you stil have a job and money, and
space in your shop, it is a great time to buy used stuff like this
right on ebay.

The other implication is that if you go to liquidation auctions
infrequently, it is a good idea to recheck the prices that you used
to base your bids on, in order to not overbid.

Agree? Disagree?
----------
Cash is king... try to hang onto it.

I hang onto some of it, but the time when cash is king is the time to
buy, not the time to hang onto it. The time to hang on to cash is when
everyone is exuberant.

The metalworking stuff is small change.

I switched all my and my wife's retirement accounts into all stocks
late last year (Oct/Nov). I used to have cash in almost all of them
them prior to that.

The best outcome for me, assuming my retirement is 30 years from now,
is that the market would stay depressed forever. This would bring the
highest total return (appreciation plus divvies). Events of last year
show that there may be a good reason for "equity premium", which is
that equities return a little more than bonds, over the long run, due
to higher risk. Last year showed how bad is that risk.

Anyway, going back to the tanking prices, these are a very vivid
illustration of deflation.

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