Note to self, more time at the range.
“First 6 months of 2010, Americans will continue to live in the ‘unreality’”
Ummm....PREdiction?
None of these predictions are wrong - the question is, can the central bankers engage in some new form of trickery to stave off the inevitable for a few more months or years? They may have more schemes in mind that we aren’t yet aware of.
Have a nice day.
Most of this will happn. Hope you have all taken heed and are prepared.
Good time to start a Mars colony...
So, the big question is: how many of those financial types (investors, market gurus) have heavy short positions on the market? That will be the big differentiator between fearmongers and real prophets.
Just what Obama will need to declare the elections on “Hold” due to emergency actions.
Stock up?
Gas, canned goods, bullets and antibiotics.
So, other than gold (which will likely be confiscated if these predictions come true)where does one invest their 401(k) funds to protect against dollar devaluation?
bttt
and maybe time ot go back to this “tinhat” thread from 2008 and consider what has happened since
http://www.freerepublic.com/focus/f-chat/1994684/posts
The scary thing is that considering the global financial and geopolitical environment any of these scenarios are plausible.
Americans aren’t made like they were during the Great Depression. Going without cable television is considered a hardship these days. And food comes from the grocery store...
Picture Katrina on a national scale.
BOY! Have you ever made my day.
Ping to read later
Let’s see now..ammo, guns, silver, food, water-—yep. Bring it on.
Rather than predicting what will happen, or when, it is far more important to discuss what *might* or *should* be done to give the country the fastest possible recovery.
1) Renounce the US National Debt. This has been done by other countries, and while it would kill a lot of our foreign trade, especially oil imports, except for commodities swaps, it would “reset” international economics. Most of the money invested in sovereign debt is “profits”, not core economic funds, so while this would be painful to just about everyone, it wouldn’t be catastrophic, and would begin a return to stability.
2) End all government largess to individuals. In the US, this means Social Security, Medicare, Medicaid, Obamacare, and a bunch of others. There was a final effort to return such programs to order some years ago, with “means testing”, which was rejected, so now we have to essentially end those programs abruptly.
3) Essentially, and I mean this especially to REPUBLICAN politicians, cutting off direct largess to individuals does NOT mean cutting off aid to the destitute. If they want to be heroes to the nation, they must distribute, through the States, what America has in abundance, to those in need.
The most important thing is food. America, even during the Great Depression, was overburdened with a huge surplus of food. Each year, hundreds or even thousands of tons of excess food rots. So for heaven’s sake, REPUBLICANS should insure that everybody who needs food gets it. Failing to do so promptly was one of the biggest reasons REPUBLICANS have been hated by many since the Great Depression. So REPUBLICANS should not make the same mistake again.
Another thing that the government can do much to help is housing. With a huge surplus of empty housing, vast numbers of Americans can be put into homes if need be. But this must be done intelligently. There must be time limits, and people will only get equity in their homes once they get jobs. But then they will get equity, which will encourage them to maintain their homes.
4) Currency reform. Right now, the Democrats are probably figuring on hyperinflating the currency, then periodically renumbering it, lopping off several zeroes, then hyperinflating it again.
A far more sensible approach would be to do the opposite, by restricting how electronic currency can be used for speculative purposes, to cause a serious deflation of cash. This could be done quickly with a 1 for 10 deflation, that is, a dime can buy what a dollar could buy. Then replace much of our coinage with plastic coins, as is done in Japan.
This would be very punitive to many reckless speculators, as there is not enough cash right now for them to swap for their electronic money, before the official deflation happened. So most billionaires would become “hundred millionaires” overnight. In truth, they would not lose anything, but they would not profit, either.
5) Credit reform. This means a return to the good old days of credit being only “for those who don’t need it.” Most people would still deal in debit, but credit cards would be few and far between.
6) Government reform. There is a whole lot of work needed here, and the federal government is unlikely to be able to do it itself, so the individual States should consider doing it for them. It will just be better for all concerned.
Isn’t it interesting that someone just stole 5 paintings, worth $600 million from a Paris museum? Experts are calling it “a hit list of the top 5 artists who mattered in the 20th century.” They’re confused because they don’t understand why anyone would steal them. They can’t really be sold on the black market because they’re so important to art history.
(Puts on tin-foil hat)
Preservation of important art by someone in the know?
(Takes off tin-foil hat)
BLOAT!
So let me ask opinions here: With the threat of hyperinflation and the inevitable crash of the dollar, would it be in our best interest to purchase a property (with acreage), or to remain mobile (renting)? We already have PM and food investments, but I really want our $$ out of cash. My thought would be that by jumping on the current low interest rates, hyperinflation would help us pay off debts faster. On the other hand, a sailboat and a secluded island sounds nice. (We have no debt right now....)