Huh?
I think the thirty year high was in 1980, and it peaked at 51, if my memory is accurate.
If the collapse comes in the next few weeks, they may have to cancel the elections ...
Huh?
You need to start a ping list so we get a heads up when it happens.
How do you define a collapse?
We have plenty of room to maneuver
Whenever Moscow and Bejing decides.
I don’t know about a collapse, but 2011 might be an ugly year.
Just substitute the United States for Argentina and the ‘banging of pots and pans’ for gunfire and this is what it will look like:
http://www.youtube.com/watch?v=rH6_i8zuffs
Give it two years. Tops.
It's happening now. I posted this a couple of days ago. If you google the word "pension", you will see even more stories today.
1. US Cities Face Half a Trillion Dollars of Pension Deficits
2. What O'Malley, Ehrlich say about fixing pensions
3. Record retirements stress New Jersey state pension system
4. The First 10 City Pensions That Will Run Out Of Money
5. Municipal Pension Tabs Average $15,000 Per Household
6. Bloomberg Administration Takes on Pensions
7. UK reported to have the biggest pension deficit in Europe
8. Ventura city workers protest calls to pay more for rising retirement costs
10. Ed Miliband warns unions against pension reform strikes
I posted these concerning sovereign debt.
1. Digging Down on The 800 Pound Debt Gorilla
2. Ties and tensions between China and the U.S
I see it as a “House of Cards”. You can keep tinkering with it, but you never know when the slightest bump or change will cause the whole thing to collapse. You can’t control the collapse, you just pick up the pieces ans start over building another.
Define “collapse.”
CPA and speaker Larry Burkett has been predicting a debt caused collapse since 1988. He won’t be around to see it though since he died in the late 90’s
This is especially true now that active trading is concentrated daily among a handful of players, including the Federal Reserve Bank of New York, whose permanent open market operations (POMO) have snapped up stocks and Treasury bonds that others do not care to own for any length of time.
Let this settle in for a moment. The narrowness of the market and the full investment of our government in moving prices ever-upward and interest rates downward makes either fundamental or technical analysis a useless exercise in trying to read tea leaves... in a full gale. My advice: stay out of it; all of it. If you must buy something, buy water, canned food, fuel, paper products, copper, brass and lead.
Silver and gold are pure speculative bets. You can’t eat, live in or wear silver and gold, other than jewelry.
The question you need to ask yourself is this. If the dollar really crashed, what would be the currency? What on earth is really of value to a human in an economy and or societal collapse?
Food, clothing, shelter, land, etc..
Guns and butter my friend, guns and butter.
I recall the 30-year high for silver was in the neighborhood of $50 for a short time as a result of the Hunt brothers trying to corner the market. That price was artificial due to such manipulation and so it came down pretty fast. If you consider how much value the dollar has lost since then due to inflation, silver in the mid 20’s probably is still reasonable and likely to go up, because our dollar looks to be going down, waaaayyyyy down. I don’t believe any really terrible news will emerge until after the elections. Can’t be spooking the gullible voters, you know. You don’t need to load the truck just yet, but you should be planning where to go and what “bug-out” provisions to take with you. I put a trailer on 12 acres in the boonies 100 miles from any major city - that’s where I’ll go if the cities boil over.
Sounds like the folks at the National Inflation Association think it starts today. They released this article this morning.
In the absence of an obvious physical catastrophe (like a New Madrid quake, or a nuclear terrorist event), any of the existing crippled legs propping up the illusion of economy can buckle, and shatter the illusion literally at any moment.
My wager for today's most likely candidates are the complete elimination of a functioning mortgage and housing market due to "fauxclosure" failure, and a cascading default of municipal bonds and state government obligations.
Here is what the head of the Asia department at the Chinese Academy of Social Sciences, a top government think tank,said today:
Without a weaker dollar, the United States would have no hope of meeting President Barack Obama’s goal to double exports in five years, Li said.
Dollar depreciation will also serve longer-term interests by generating inflation and easing the debt burden that the financial crisis dumped on the U.S. government.
“If the global financial crisis was about nationalizing private debt, then in the post-crisis period the urgent need of the United States is to internationalize its national debt,” he said.