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Peter Schiff: "We're in the Early Stages of a Depression"
The Motley Fool ^ | 09 August 2010 | Jennifer Schonberger

Posted on 08/25/2010 6:31:34 PM PDT by Lorianne

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To: Ken H

I really don’t know.

I think Schiff didn’t realize in the wake of the financial crisis, how long the economy could be kept going on life support, which is why his clients didn’t have the best year.

His general ideas make perfect sense, but our economy and really, the world economy, which is what we’re all merging into, is one complex system.

My intuition tells me that in such a complex system, for a local economy to start behaving sensibly can sometimes be put off for quite a bit, maybe even for a generation.

We should have had a major reckoning a decade ago, but it was postponed, because no one in power wants a major recession on their watch, and because those who are making mega bucks from a booming economy don’t mind keeping the party going for another ten years, then so what if it crashes? They’re set for life no matter what.

I suspect those in power are hoping that they can keep us sputtering along for us to somehow grow our economy out of it or gently inflate our way out of it or both.

And it might be a desperate hope, but it could be the only hope.


61 posted on 08/25/2010 8:32:59 PM PDT by Age of Reason
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To: Age of Reason

Extend and pretend ... except I don’t think they can kick this can any further before the elections in 2012.


62 posted on 08/25/2010 9:14:26 PM PDT by Lorianne (During times of universal deceit, telling the truth becomes a revolutionary act. ___ George Orwell)
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To: ikka

Well I know I feel better. Not!


63 posted on 08/25/2010 9:19:56 PM PDT by Georgia Girl 2
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To: mylife

A wishing well?
*teasing*
We have a well, and are very happy to have it.
If the power quits, ya gotta haul the water up by hand, though..


64 posted on 08/25/2010 9:28:32 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: MS.BEHAVIN

Yup you do but the water is there.


65 posted on 08/25/2010 9:31:00 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

This is true!
Man, it sure is scary reading stuff like this article..
I tend to believe him.
Gonna plow up a small field next spring for growing veggies and stuff.
I think we’ll prolly get some chickens again too..


66 posted on 08/25/2010 9:35:19 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: MS.BEHAVIN

Sigh...

I am not a reactionary or conspiracy type, but this administration has me scared.


67 posted on 08/25/2010 9:36:59 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: MS.BEHAVIN

BTW.
You know what that white stuff is on top of chicken poop?


68 posted on 08/25/2010 9:38:19 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

It has me scared, too.
Nothing wrong with being prepared!


69 posted on 08/25/2010 9:39:27 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: mylife

LOL
No...what?


70 posted on 08/25/2010 9:39:56 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: MS.BEHAVIN

No there isnt. You’ll use everything you produce.


71 posted on 08/25/2010 9:40:36 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: MS.BEHAVIN
More chicken poop. ☺
72 posted on 08/25/2010 9:41:12 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

LOL
Go to your room!


73 posted on 08/25/2010 9:41:51 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: MS.BEHAVIN

I will!

I got to go to bed.
Have a good evenin MsB


74 posted on 08/25/2010 9:43:08 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

You too!
;0)


75 posted on 08/25/2010 9:46:06 PM PDT by MS.BEHAVIN (Women who behave rarely make history)
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To: moondoggie
I'm almost afraid to ask if I should go ahead and apply for my Social Security in October?

Go for it. I got mine at 62 and have never looked back.

And do it now. You can do it all online but it takes SSA some time to get it set up. If your birthday is in Oct, you should get your first check in Dec. Auto deposit, natch.

76 posted on 08/25/2010 10:28:00 PM PDT by upchuck (The Mosque at Ground Zero (sorry AP) is about SUBMISSION, not tolerance.)
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To: MS.BEHAVIN
If the power quits, ya gotta haul the water up by hand, though..

I have an electric well. The pump sits at 190 feet. I understand, but don't know for sure, that the aquifer runs 100-140 feet down. How do you haul the water up by hand?

77 posted on 08/25/2010 10:35:49 PM PDT by upchuck (The Mosque at Ground Zero (sorry AP) is about SUBMISSION, not tolerance.)
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To: webstersII
Why is that? If the gov’t gets smaller and smaller and eventually defaults on its obligations, doesn’t that mean that there won’t be as many bureaucrats to get in our knickers?

A bad economy can often mean a much bigger government:


78 posted on 08/26/2010 6:25:34 AM PDT by Lazamataz ("We beat the Soviet Union, then we became them." Lazamataz, 2005)
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To: RKBA Democrat
Most of us will mutter about the lucky buggers who were able to go scavenge cans!

Watch out for Super Mutants in the DC hell hole.


79 posted on 08/26/2010 6:30:23 AM PDT by Lazamataz ("We beat the Soviet Union, then we became them." Lazamataz, 2005)
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To: upchuck

Ours is an old fashioned “dug” well, with concrete sides.
It is about 15 feet deep.
We have to move aside the concrete lid, and drop a bucket down in there.


80 posted on 08/26/2010 8:40:45 AM PDT by MS.BEHAVIN (Women who behave rarely make history)
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