Posted on 01/17/2018 4:05:22 PM PST by blam
The impending economic collapse is hidden from most. People only see a rising stock market, not the negative underlying factors that will cause the whole system to crash.
The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital. “We have just begun a major, long-term bear market in the dollar,” he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at roughly $63 a barrel. Shiff focuses on oil as just one example of the inflation that will help collapse the dollar.
When the price of oil rises, it reverberates through the economy. Peter called it a gigantic tax hike for consumers. But the Fed is still worried prices aren’t going up fast enough and that they won’t hit the mystical 2% goal.
“They’re going to hit that out of the park. They’re going to be looking at 2% in the rearview mirror – in the distant rearview mirror. That is going to be the big story. They’re going to way overshoot and they’re not going to be able to do anything about it.” –Peter Schiff
Schiff also warns that the dollar’s decline is just getting starting. He also says “everything that can go wrong, will.” We are not experiencing economic growth. We are experiencing inflation.
“High inflation is not good for the dollar. By definition, high inflation means the dollar is losing purchasing power. If the dollar is losing purchasing power, that is bad for the dollar,” Shiff explains.
(snip)
(Excerpt) Read more at shtfplan.com ...
Also looking into BitPorkBellies which don't require refrigeration and aren't subject to trichinosis.
I certainly hope so!
rotflol
I have to admit that I can’t figure out why the price of all kinds of fuel has been going up up up. Heating oil is high enough to really hurt lower income people.
Crap, I finally used up all that freeze dried food I bought for Y2K, and now I gotta stock up again....
I always said store what you eat and eat what you store. Buy a couple cases of canned or dry foods you eat, when you are done with one buy another. Buying a ton of wheat or a years supply of MREs is not a great idea unless you really like wheat and MREs.
If you don’t have the facts, or a track record, just pound the table harder!
I seem to remember we were going to have an L shaped recovery...
Are you all aware, even I wasn’t...the corporate tax rate is going to be a flat tax at 21%. This is gonna be YUGE....
Getting details on this tax package has been very hard to come by. That is how good it is!
It’s not great if you’re poor, but it is if you are upper middle class and above. Which of course will trickle down to the poor. Not just trickle down, but flood down. Paradigm shift stuff...
Just imagine if that murdering, treasonous harpy had stolen the election.
401ks confiscated, unfettered illegal alien invasion, arkansas death squads elevated to the FBI.
America is hanging by a thread right now...If the rats regain power anytime soon, it’s all over but the screaming and the dying.
And Harry Dent is advertising that Gold is going to $250.00 an ounce. Old Harry has been wrong for about 10 years.
That’s great, it starts with an earthquake
Birds and snakes, an aeroplane
And Lenny Bruce is not afraid
R.E.M It’s the end of the world (as we know it)...
https://www.youtube.com/watch?v=JsxavPANO8s
Being a more conservative investor, I’m tending toward Confederate dollars.
a further depreciation in the purchasing value of the dollar naturally raises nominal prices, with some consequences.
but it is not a fundamental economic paradigm shift
indeed, it has been going on as a long-term secular trend for at least 100 years
Exactly true. A true apocalyptic event would consume the world, but only for 6-9 months, then folks would adapt regardless of outcome. Gotta have food and water.
Well, the market has gone up now by 45.99%. What would have happened if people pulled their money out at 30%?
All it would have done is make them have to buy in at a higher prices, say 35-40%.
Numbers are looking very rosy even now.
Companies are meeting their numbers. The economy is showing no signs of tanking. New good news comes out about every day.
I mean, in this environment, this may go on for a while.
Folks still see more upside news than downside news.
I know what the normal activity looks like, and you have a good point. Still... this is a market like none other I’ve seen.
How do you play it?
The weaker dollar makes American goods and services more and more attractive. The more dollars we get, the more it goes up. And there is the pendulum effect of how the dollar works.
The worst thing for an economy, is an excessively strong currency.
You put in one data point that he was wrong in 2010.
Does anybody keep an objective score on what these people say?
He will be correct sometime. Historically, even the great depression would have been a V bottom event if not for the feral intervention some say. I know for certain in my own mind that the great recession was a v-bottom event with a plateau exit after 2011 caused by barky the fool. From edge to edge most downturns in the economy are about 3 years at most. That does not mean things go back to roaring but they do get better.
So many things invoke some form of panic or fear and are just normal events. Someone noted with some apparent alarm that schools are closing for flu outbreaks. This has happened for a long long time.
Most of what is reported these days is not news but it is instead opinion. On the same day you can hear someone emphatically say to take the flu shots without fail it will save your life. You can also hear someone say it makes little difference since there are so many strains it is an educated guess or a crapshoot that the vaccine will be correct.
A multitude of things are like this, few can predict them. Life happens. Be prepared as best you can and live. Success is how you handle problems that will come your way.
You play it diversified in a big way. Trust me, the party does end, because eventually the good news is triple baked into the cake. Currently US pe ratios are high by any standard, but when you factor in the new tax rates, it’s a game changer. But, once equities meet that...?
There are areas and pockets of value right now, plus for the first time since the late 90s, we have a strong generically growing American economy. It isn’t growing because of monetary policy, it’s growing from economic demand and productivity. This is much like the early 80s.
well, on the other hand a collapsing currency is also death to an economy
what helps is a stable currency, imho
so that long-term savings and investment...and planning...
can all proceed successfully
and so the currency can function as a reliable store-house of value.....one of a currency’s most important functions
and so it does not become a seriously- distorting influence on economic decision taking
economic decisions are best that are not forced or coerced into what are, in actuality, uneconomic alternatives
Takes practice and writing off a few bucks to get that figured out. We have figured it out. We won't starve, but dinners will get boring.
This is my only regret in winding down my company.
i did not have to retire but I did need a change of scene. The new scene does not include as much of the work opportunities even with the computer and all. Presence is required for some things.
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