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 arent going up fast enough and that they wont hit the mystical 2% goal.
Theyre going to hit that out of the park. Theyre going to be looking at 2% in the rearview mirror in the distant rearview mirror. That is going to be the big story. Theyre going to way overshoot and theyre not going to be able to do anything about it. Peter Schiff
Schiff also warns that the dollars 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 ...
Reading about the end times, doom and gloom....has gotten me to the point where death frankly seems a bit anticlimactic. That is very bad news for Hollywood....
I got a case of USAF survival rations that are in a spam can that is airtight. They were packaged around 1975 and I open one about every two years and they suck just like they did when they were a year old and are still wholesome (note I said wholesome, not edible).
“Heating oil is dirt cheap compared to what it once was.”
Like H*ll it is. Way higher now than in several years. And not All Americans live in the cities where natural gas is available. You want Proof:
https://www.eia.gov/dnav/pet/pet_pri_wfr_a_EPD2F_PRS_dpgal_w.htm
And if your tank is out side then you have Use K1. You can 50 cents to those prices then.
Clif High on Greg Hunter.
https://www.youtube.com/watch?v=DT4mP1TiH8Q
I have have heard Clif on Dave Janda's show but Greg is a new one on me.
Watch the video, on his thesis of an American Renaissance 2018' to 2022 with tech etc springboarding us into something like the roaring 20's.
I'll spare you the details, but I have posted before all the various winds in the sails of MAGA that could take us to a GDP of 6 to 8%. It's a gut thing for me, but Clif has got more real models / intel that drive his predictions.
It is an interesting watch / listen too...
I’ve been attending economic conferences for several years and that story is more than true. Bakken, Eagle Ford, and ...name escapes me...the biggest find in us history is.west texas....??? Either way, yes, the US has more oil and gas than we need, and can be self sufficient and export. Plus, it’s on dry land, which is cheaper. Additionally, we have the infrastructure in place to distribute.
If this is true, it is the best news about fairness ever. It is infuriating to see politicians at every level spendingtime In skyboxes, etc, while the people whose taxes paid for a stadium cannot even afford ticket to go to the game.
Suoer expensive restaurants will take a hit as well.
Next should be tax exempt organizations. People will still donate to true charities.
Thank-you!
Most “Best used by” dates are insanely conservative. You can almost always use them without fear for 3-5 years after the date.
I had a PhD nutritionist tell me that when they got so bad as to harm you, you would not be able to choke them down.
SHTF? Really?
More like the Schiff hitting the fan.
Is Peter Schiff related to that Secular Progressive Jew Congressman Adam Schiff from SoCal?
I have no idea.
They are appropriately named, SURVIVAL.
Whatever.
Engineer with many years running businesses and doing economics on really big long term projects.
Heh, heh.
We’re all gonna die! It’s the end of the world. Read all about it for $19.95/mo.
That about sums it up.
The great recession has shaped at lest two generations the way the great depression shaped a couple of generations.
My parents were products of the depression and it shaped the rest of their lives and rubbed off on my.
Generation X is probably most shaped and affected by the great recession. It hit them in their growth years. They will be playing catch-up much of the rest of their lives.
It is no more than 25% for most K-1 income.
No offense intended but you’d have to be living under a rock not to know the summary of the two most important parts of the new tax bill.
C-corp 21%
S-corp 25%
Schiff recommends you invest in out-of-favor 19th Century statues and monuments.
I salute the people who have successfully prepared themselves and their families - particularly those who have used the motivation to improve their health and quality of life.
“””Best news he told me, is that entertainment deduction is going to ZERO.”””
http://fortune.com/2018/01/13/tax-bill-recreation-deductions/
Taking Clients to Ballgames Will Cost You More Under New Tax Laws
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.