Bailouts Will Push US into Depression: Manager

Discussion in 'Economics' started by eric2802000, Sep 11, 2008.

  1. vv111y


    Same thing Schiff says.
  2. Who is Schiff, Adam Schiff?
  3. vv111y


    Peter Schiff.
    You can see some clips on youTube or his site

    Says pretty much the same thing.
  4. Pretty tough to go bankrupt when you own the printing press!
  5. the us will not go bankrupt for awhile. if we continue our path of wreckless deficit spending then it is a certainty.
  6. The U.S can only pay its debts off via inflation.

    That means creditors are about to have it so far shoved up their asses that they'll cringe and cry. Each dollar they lent to (bought from) the U.S. has lost between 20% and 50% of its value (depending on the country buying U.S. treasuries).

    The problem is, they need our insane and voracious consumers to support their exporters and own economies. Who else will buy as much of the shit they produce as the U.S.? The Chinese save 50% of their money...the average U.S. citizen spends all of their paycheck plus goes into debt by about 5% of their gross income each year.

    So the status quo lives for now.

    Watch out when the U.S. consumer doesn't make the world economy go 'round no longer, however.

    The U.S. will no longer be able to finance deficit spending, and that will be a game changer and a standard of living changer that will rock this nation to its core. If you can guess when that will happen within a year or so, congratulation, you should be very wealthy at some future time.
  7. His advice is messed up - he says to avoid leverage but leverage is good in an inflationary environment. Debt payments do not go up with inflation.
  8. BVM88