I'll hold off on claiming a miracle until we see gas at $2 and some change a gallon again, then it's a miracle...
Hey if the fed keeps inflating the currency then everyone will be able to pay of their mortgages easier and the economy is sure to improve. Thats good policy right?
An interesting bit from that article. That's when sparks are really going to fly, once the Fed attempts to actually raise interest rates. All those so called "successful" bank bailouts will be exposed for what they really were, a temporary lifeline to line the pockets of the bankers before the ultimate collapse, at the expense of the taxpayers and the entire economy. The utter failures of fiat currency and fascist economics will soon become painfully clear.
[quote name='"Adubya"']war on terror AND recession over!! OBAMA 2012 and gas prices down 5 cents too!! it's a miracle.[/quote] Moar drones!!!1!! Obama 2012
Wow truth hurts, i really hope you arent right lay low, but i have a suspicion that you may be right on track.... i mean RP predicted it, and hes basically jesus soooo.......
Isn't what they said a month before Housing bubble collapse? So I'm assuming there will be economic collapse within 3 months?
Ya it sucks i've been warning my parents about this bubble that has been created with our currency and they refuse to believe me. I show them all these facts and shit but they just believe what the TV tells them. The worst part is they want to start a gun shop right now with the economy on the verge of self destruction. This is the main reason i hope this doesnt happen, my parents have the rose colored glasses on, i just cant keep them on, i try, i really try lol. But ya they pretty much think im insane for thinking our currency could collapse, they keep comparing it to the seventies and i keep saying its going to be much, much worse than that recession. THey dont get it, anyone know how i can convince them of this. I really want some hard facts to shove in their faces.
A gun shop would be a great thing to start right now imo.. gun sales are exploding. And also an article on zerohedge that coincides with what you were discussing about rising intererst rates.. http://www.zerohedge.com/news/gundlach-explains-biflation-cheap-seats
I agree, i just dont want everything to go to shit, then they lose their shirts b/c they cant pay off the huge loan they take out b/cuz no one has money to buy guns and go shoot. Idk i think its a good plan if they had started about a year ago instead of right now, just bad timing, but it may all work out. My parents are sweet people and it would kill me to see them lose a ton of money and be out of jobs at the same time. But ya i think Ruger suspended all sales b/c they couldnt keep up with demand. So the sales are deff there to be had. But anyone have any good legit articles from a few diff people laying out how are currency will collapse b'/c of the central banking system Would love to see some legitimate sources and reputable people saying this, danks
If the economy collapses, their debt will be pretty much null and void, how can you owe money if the money has no value? Besides, at that point, guns will be one of the best commodities you can barter, they'd probably be able to exchange some guns for gold or silver, and maybe 2 or 3 for a boat that will take them out of the country to someplace safer. Stuff like that, their gun store is a great idea!
Lol guess your right, i wont worry so much i guess, but if dollar collapses, i wonder if people will be lining up for soup kitchens with barbed wire fencing around it...... goodbye freedom in the name of security
It's just basic stuff. Our trade deficit keeps growing. Our debt is already far out of hand. Our debt to GDP is at 104% now and we have reached a state of debt saturation. The Fed is buying junk assets and bonds in ridiculous amounts. Interest rates are at an all time historical low. 0.00% actually, which obviously can't be any lower nominally. Treasury bonds are in a bubble because of said low interest rates that don't even keep pace with the inflation rate, making them have negative real yields. The world's central banks are net buyers of gold for the first time in a long while, signaling the weakness of the Dollar as the world reserve currency. To put it simply to the average person I usually explain it by bringing it down to the individual level. I ask them "Can a person live off of credit cards indefinitely?". The answer is obviously no. What does a person do who has a debt problem? They have to work harder, sacrifice consumption, and get out of debt. What does our country do when faced with a debt problem? Get into more debt, but our creditors won't keep giving us credit extensions. It's insane to attempt, and wholly impossible even if they wanted to. Credit is finite. Eventually our creditors will cut us off, just like any creditor would do with a debtor who can't pay their debts. So that is inevitable, and has already begun, which is why the Fed has been buying bonds themselves to make up for the lack of demand. This is QE, Operation Twist, etc. Once that happens the Fed will have to let interest rates rise or risk hyperinflation. Hyperinflation is the worst possibility and they know that, so that's unlikely. So then interest rates will rise. Once that happens the interest on the national debt will explode. Banks will fail all over again because they are still holding bad mortgage debt and government bonds. Indebted businesses and corporations will fail because they are being sustained by cheap money. The value of the Dollar will fall greatly especially compared to the countries who were inflating to match the Dollar, I.e. the Yuan and Yen, but even the Euro and most others will appreciate significantly to the Dollar. Home values will plummet again with rising interest rates. Government spending will hit a brick wall because borrowing will stop, interest on national debt will rise sharply, and tax revenues will be reduced dramatically from the depressed economy. It will be Greece but worse. Economic law can't be broken. Our day of reckoning will come, and it will happen soon.
PS. A gun store might do well in that environment. As long as they got a good, low interest loan that is non adjustable they will probably do fine.