So the question is: Can you finally admit to yourself what you already know, that we are headed for a truly catastrophic Global Depression? Riots, murders, food shortages, total chaos, and expulsion of many immigrants. I have seen enough, and will not hesitate to tell anyone I know what I see coming. Capitalism is broken, fiat currencies have run their course. United States of America will default soon.
you're just as fucking crazy as stock_trader. your existence must be taken as a serious contrarian indicator. US survived 1929, 9/11, Hitler.i It'll survive a credit binge. Dow should still go down 1500 point to reflect 8 X valuations..and then we'll be just fine.
Go back 6-8 months in my posts and you'll see that I've been talking this way for a while. This cannot be compared to anytime in the past, there are just way too many massive differences. Open your mind up to the possibility of a global depression, the rabbit hole goes very very deep in my perspective.
I'm not going to make a prediction on how this turns out, because in truth, *I don't know* , and I'm not afraid to admit it But resting on 'the USA survived this, that, and the other thing...' is a very false sense of security Living on credit until it is exhausted in one of the most time tested recipies for poverty - it's is in effect, hocking everything you have to your creditors, who end up with everything unless you break the deal, which has it's own set of side effects, some potentially catastrophic. one of the things that's bankrupted us is our endless quest for military security, at the expense of economic security Eisenhower said "We will bankrupt ourselves in the vain search for absolute security" so what happens when the sherrif comes to the home of the gun nut to reposess the guns because he went broke on his gun collection? this is totally without precident in American History, debt in the 1930s was NOTHING like it is now. Sure Germany and Japan rebuilt themselves but they were on the *receiving end* of a generous American 20th century policy - we wont be we have never witnessed such a level of national financial stupidity Our founding fathers would be horrified - you think Benjamine Franklin would be optomistic about the outcom of such financial irresponsibility? Like I said, there's no way to know how this will end, good or bad. I wouldnt rule out the worst
I have a few words for those that want to hedge against the potential chaos: Ammo, food production. Thank you, FRU out..
Come on guys. Don't over react! Yes the world has over-indulged in cheap credit. What else is new? What else could you expect at the ultra low borrowing rates? (Thanx Greenspan!?!?!?) The next few years will be a flushing out period and it's what I have been calling for a long time....Flushing out period. It's called payback time. Greenspoon could have abvoided much of this by raising rates around 2005 & cooled off the binging! I've been selling real estate successfully for 24 years and could not believe my eyes, watching the sheeple loading up on cheap credit so they could keep up with the jonses? I pay well over 6 figures in income tax and live in a modest $600k house and I watched those making less than me buying beautiful homes & driving nicer cars than myself. I kept scatching my head wondering when this would end and kept preaching to deaf ears that payback time would eventually come. It's time to pay off some debt...for individuals and businesses alike. As for countries....well they just love to borrow and print money and this will never change. That's why they invented inflation...to make their debt seem not so bad. The smart ones get rich buying assets and watching them inflate in value! My parents bought their 1st house in 1965 for $25k now it's worth over $700k. How do suppose that happended? INFLATION! So relax with all this fear mongering. It's not the end of our world. Have faith in inflation. This too will pass! No one is gonna pull out a gun & shoot you for your stash of food. You are not that important! Give us a break with this bullsh@#T.
Dow 5000 YES 10%+ Unemployment Yes Major Companies going Bankrupt YES Countries going Bankrupt YES but what you envision is not going to happen. that's apocalyptic. now if a couple nukes get tossed around the middle east between Iran and Israel...then those things mighthappen. presently it is an economic shit storm the world will weather this.
lol thanks for that oktiri, I made my night I have to share these videos: (3 parts) <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/mO1ZhCRWmxs&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/mO1ZhCRWmxs&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>