Skip to comments.“When The Real Crash Comes It Will Be Worse Than the Great Depression” (Shortened)
Posted on 04/30/2013 3:08:21 AM PDT by Kartographer
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I agree with Schiff that we are heading for disaster, I only wish I knew how to save my savings.
When governments stand to lose the most with interest rate hikes, you can bet interest rate hikes will be very late occurrences.
Banking and Government are fingers on the same hand pulling together.
The struggle begins.
We already hit our heads on several balconies (some more stealthy than others).
And that is why when the “crash” comes, regular folks will have been squeezed quite enough already.
I have this feeling its very imminent, and that I need to liquidate some possessions very soon and just leave the country for about two years.
Nobody is fighting, nobody gives a damm and or trying to even organize any movement. I don’t see any mass resistance, no Revolutionary forces mustering or marching, everybody is too dammed scared to go up against Obama, and those that say they will though numerous have no collective goal and thus will never amount to anything more than a bug smear on a windshield.
I don’t know how to protect myself either ,,, I’m thinking buying good land on a long term dollar denominated loan and setting aside the payment money ahead of time to get larger lots cheaply when the dollar crashes.
People talk of barter goods ...
I can’t stop thinking of the smarties that bought IBM and Coca Cola during the 1930’s/40’s after the bottom...
I don’t see any salvation except an asset backed currency ,, wishing a few states issues oil backed notes or silver/gold backed notes. Canadian $$$ is good because of their oil and lumber resources.
The only true way to preserve wealth is to preserve your ability to create it. Ever wonder how a millionaire can lose everything and be back on top a few years later, yet a lottery winner will manage to be broke in that same time?
It will either usher in a new birth of Freedom, or a great Tyranny. Either way, I hope it happens in my lifetime and not my children’s.
If we go down, the whole planet goes down with us. There will be no other place to "ride it out".
We are more “together” than you might think. As far as armed resistance? More than you might think.
One April morning....
I was born here; I’ll die here.
IOW, there is no Leonidas, and this particular Spartan is grabbing a bus to Athens - to h*ll with holding the pass!
I can see it in the lower 48 but I am cursed with living in Alaska that has gone libertarian, they would rather stand in the middle of the road getting their head smacked by mirrors of opposing political vehicles. Alaskans used to be conservative.
Too timid to fight, too much hooked on handouts.
And by being in Alaska its too far to be where the action will be.
At 70 my ability is a bit limited.
Worst case scenario - A Zimbabwe-style seizure of your land. Done in the interest of "fairness" of course.
Likely scenario - Property taxes soar through the roof so that you pay your "fair" share.
When SHTF, land ownership will mean squat.
Oh, no doubt - another of several reasons not to "run away"!
1) The whole earth's economy will be in collapse.
2) We are Americans - we will right this ship together (well, the Patriots anyway).
3) We are Americans - this is OUR country.
4) We are Americans - we don't run and we don't lay down.
Think “Margin Call” on a massive scale.
Not to mention the fact that 2nd ammendment supplies and accessories basically can go no where other than here. I’m going nowhere. SHTF or no SHTF.
I feel like a fighter who will have to come back later after the first brave 300 have already died fighting to hold the ground.
But like in Spartan history the elders won’t condone any organized act of war, no they will just let 300 Spartans die first, seems like the same issue nowadays.
Tea Party will just allow 300 martyrs first before sending and army is my guess.
Meh. From October of 2008:
Ive been saying five things for the last year or two:
1. This thing could get as bad as, or worse than, the great depression (GD).
2. The GD ended with WWII.
3. The US is a form of worldwide empire with colonies like South Korea, Taiwan, India, Etc.
4. As the world economy collapses, countries like NK will be both desperate and emboldened to take military action against one of our colonies in near proximity. The result could actually ultimately end up with a hot war fought on US soil. Im talking about the 50 states.
5. Somewhat related to the four but more domestic in scope, expect a serius (sic) uptick in domestic violence, divorce, murder and various other crimes.
He was wrong about the rioting, but he explains why later in post 20.
Correct. And, if you're not from there, they will rob and then kill you.
Switzerland comes to mind. They have been riding it out for a long time. Of course, you need major assets to make a move to Switzerland to work.
The Crisis Is Imminent: When The Real Crash Comes It Will Be Worse Than the Great Depression
The United States is like the Titanic, and Im here with the lifeboat trying to get people to leave the ship I see a real financial crisis coming for the United States.
Peter Schiff August 2006
I was just mentioning to someoen this weekend that one talking head said, a couple of hears ago, that these things always take longer to happen than those that see it coming think it will, but once it does happen it unfolds with a rapidity even they did not expect. Have you ever laid on the ground during a rainstorm and watched a raindrop come toward your head? It seems to cover the last foot a hundred times faster than the distance before it.
I’m already seeing it speed up. Even NPR’s in depth report yesterday about the fallout from obamacare was extremely gloomy. And yes, I think Obamacare could be the straw that broke the camels back, mainly because it’s really a bundle of rebar. Extra thick.
“It’s not the fall that kills you; it’s the sudden stop at the end.”
“programs and entitlements will be cut to the bone.”..
Might be a great place to start RIGHT NOW instead of waiting. Such action would certainly divert a significant part of the problem. Oh, never mind, that makes too much common sense.
Anyone who plans on leaving, don't come back. Guys like Duncan and I aren't going to look too kindly on those who have no stomach for the heavy lifting when the time comes.
Scouts Out! Cavalry Ho!
If we go down, the whole planet goes down with us. There will be no other place to “ride it out”.
My personal opinion is that this will get VERY ugly. Worse than most people can imagine. However, I’ve also been amazed at how they can STILL kick the can down the road, though with each kick, the distance is shorter.
They are now printing almost an additional one trillion a year. That means that as you and I may reducing our debt, our government is borrowing, on our behalf, $3,300 per year for every member of your family.
And Interest rates are going nowhere. They can’t. They would put a knife to our economy in one day. It would be easier to eliminate welfare.
Soros Rogers and Buffet are trying to talk down gold but
then, those guys can buy entire small nations and own their own farmlands river and mines
Meanwhile China is trying to own all the gold in the world
and every world government is trying to “repatriate”
its gold reserves
what do they know?
Does your queen know this?
Now THAT is a tagline I might borrow!
No one in America “owns” land, if you think you do, stop paying property taxes
Correct. And, if you’re not from there, they will rob and then kill you.
the Swiss just decided to limit immigration
and they are all armed
programs and entitlements will be cut to the bone...
Might be a great place to start RIGHT NOW instead of waiting. Such action would certainly divert a significant part of the problem.
We’re in this fall to the “slap” of our body hitting the asphalt.
This whole thing is like the joke about a man jumping off a 100 story building. As he passes the 10th floor, a guy yells out a window, “How’s it going?”. The jumper yells back, “So far, so good.”
We are the jumper and we just passed the 5th floor, and Obamacare is like the anvil Bugs Bunny hands his falling pursuer, causing rapid acceleration.
Yes. It’s gonna hurt.
I was paraphrasing Spartan302’s expressed desire to get out of Dodge.
He later clarified his stance.
As regards our Queen, she knows a lot, although I doubt she lurks at FR.
Strange statement. The Tea Party is not Top Down. Never will be. Sounds like you don't like the Tea Party. That is a bit strange here.
Well here is hoping 2013 is a good year for The Tea Party, and that Washington hears the approaching voices of millions of tea party marchers.
You can lower your weapons now having said that.
Invest in items that will have greater wealth once things go south... or in the ability to acquire those items at that time.
That will depend on location. States and counties determine property taxes. Age and income usually also qualify someone for Homestead Tax relief of some sort.
We are seeing a lot of people buying property where we live and many are buying with cash from IRAs. Taxes, of course, have gone up. I see ads for rental apartments in villages that are asking $700/month. But, evidently, people are paying that.
We know someone who turned a large IRA into a fortune in real estate with an impressive cash flow. I realize all the costs involved, but, from what I can see, there is still profit to be had.
The kicker comes when they try to liquidate for cash. Ask a family farmer with 500 acres just how much he would realize in a sale. And that doesn’t even factor in the estate taxes his heirs will pay.
Can you still teach? Worth more than one man and a rifle. Train 100 to shoot and be a big asset.
Where would you go and be able to be a free man?
That is exactly my take on libertarians. They stand for nothing so they fall for anything. They are like the tepid water church that the Lord speaks of in Revelations.
Not enough rural land to hide in.
Interest rates will eventually go up to reflect the risk of holding US dollars; other countries will eventually stop loaning us money.
It's possible that the US Government could sell off some of the Land/Resources that they claim in various states to help settle the debt.
A well - balanced portfolio should contain about 10% precious metals, and real estate under normal circumstances. Any necessity that you can get at today's prices rather than tomorrow’s inflated values makes sense no matter what happens.
I tend to think that people living in the bible belt outside the Metro Areas will be better off on their farms outside the many small towns.
There is no doubt that being debt free and living in a home with no mortgage gives one a better chance to survive. Just buy some hard assets such as gold or silver to allow yourself to pay your real estate taxes and some additional needs.
Unfortunately, many people can not get debt free in time to beat the collapse. So there is going to be a world of hurt, and life will have some big adjustments.
Will the cities burn worse than they did during the 60’s and 70’s. I don't know. Do everything you can to prepare for the worst and hope for the best. That's the way I have always lived, and it's no different now.
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