Exactly. As long as the US can print more, lend more and spend more and the rest of the world is fine with taking more of that for their goods and labour, then everything is going to be fine. Paulson needs another 700 billion to save the auto industry and some retailers ? Sure, just print it. Paulson needs even more to prevent the next wave of bankruptcies ? No problem, just add it in the system. The rest of the world AND the american people are fine with that. At least, for now. Let's hope that won't change. Let's hope Peter Schiff, Jim Rogers and Gerald Celeste who all have been correct on their calls, are all wrong this time. Because that's what Obama told us to. Hope. Now go wave that damn American flag and shout it out loud: "YES WE CAN"
ET may be one of the only sites on the planet where "Coast to Coast AM" is referred to as a credible source
Well, maybe foxnews suits you better then ? <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/46MEqEgdLTg&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/46MEqEgdLTg&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object> But to be honest, I don't really care about 'sources' when it comes to predictions. I care about what makes sense. And currently, what these guys are saying makes a LOT of sense to me. Also, what's important are track records. And man, these guys have predicted it all so well that it's almost scary. Celente predicted every single crisis/depression since 1987. And take Peter Schiff for example, it's really scary how accurate his predictions were: <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/B8r-nDBx5Jg&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/B8r-nDBx5Jg&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object> Now all these guys, who predicted everything up to now so well, all say the same thing: the US is going down ! And if you listen to their reasons, it all makes a LOT of sense.
Ah, I forgot about Jim Rogers: Here's an interview a friend of mine did, when he met Jim Rogers at the Gym (he's on the hometrainer, that's why he's panting like hell, hehe) http://www.inveztor.nl/downloadattachment.php?id=GHNKo6yV24HRtLcbrhycd Anyway, as you can hear, he also states he thinks we'll soon see a time where all the money in the world just can't buy you food
I think that hyperinflation is a given. Whether that automatically leads to food riots or not I have no clue... that government cheese could lead sales of Ex-Lax higher though, you heard it here first!!
That was really amazing. I mean how they were saying GS was a buy at 175 and today its 66. It seemed like all those guys were telling peter how crazy he was when he said "the worst is yet to come" Those economists like ben stien saying that we were at a bottom when the dow was at 13,000. Its really crazy. The funny this is...that to so many of us, life does not look any different at arms length, in fact things seem to be going good right now(for some of us anyway). It seems like gas prices are going down, food prices are going down, ect. But what they say make sense. I'm sure most of you dont know any really poor people in third world countries, but I saw what was happening to some of the people I know when rice and corn were at their highs. I mean, if you didnt own a farm, you were screwed! Those people had to rely on neighboors for help during that time. There was fighting and all sorts going on...but luckily it didnt last long as prices are down now...but will it stay that way? A few weeks ago i went to buy some silver from a shop here in town. Spot price was around 11-12ish range. The shop didnt have any silver rounds or bars only eagles that they were selling for a min of 25 dollars per ounce. When they were going to get the regular rounds and bars in, it was going to cost 9 dollars over spot. I'm seriously thinking that silver & gold has artificially been pushed down. Even on ebay right NOW you will see silver getting bid up to 20 per ounce. Gold getting bid up over 1,000 per ounce on some auctions. Might not be a bad idea to hedge your bets and buy a few acres of farmland and pick up a few ounces of gold or a few 100 ounces of silver. (for those of you that can afford it that is) Worst case scenario, the disaster never happens, gold & silver go back to 5 dollars and 400 dollars per oz and land value goes down a little. Not a bad bet if you ask me. If you've got a little bit of cash parked in a CD at 4% seems like it might be worth it until this whole thing blows over.
I really think that the advice to get a few acres is the best... hedge against the worst case scenario no matter what anybody says if nothing else. In the trading realm that would just be simple money management 101 but in the realm of this discussion people say that's nuts. Don't come after my food then, that is all I can say.. I don't care how many hungry kids you have, if you did not prepare and I did, then you're so screwed it's not funny... Food production can be very interesting. I have kooky friends that want to store up food in a compound of some sort and arm up to protect it, they are lacking funding currently, I'm thinking of funding them.. but they would probably welcome a firefight with legitimate authorities so maybe they should get their own funding.. If I tried to use their efforts to grow food half of them would never work anyhow... yeah, dreamers are going to get a major wake up call, some might not survive it... In my mind, the real question is, when Obama puts it to us that we have to give up our Constitution and accept the tender mercies of Communism, will we go for it?