Skip to comments.The Unthinkable Is Poised to Happen, Economist Warns
Posted on 09/26/2011 4:12:39 PM PDT by Carbonsteel
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Read more: Aftershock Survival Summit Predicts the Unthinkable Important: Can you afford to Retire? Shocking Poll Results
(Excerpt) Read more at moneynews.com ...
Does anybody remember Howard Ruff and his Ruff Times newsletter in 1978-1979. Most of the extreme doom and gloom stuff did not happen. Maybe Reagan had something to do with it.
“In 2006, he and his team of economists accurately predicted the four-bubble meltdown in the housing, stock, private debt, and consumer spending markets that almost sunk America.”
He wasn’t the only one. There were many people predicting the painfully obvious.
Yes, he sounds like another Stansberry.
This is not news it’s an ad
4 Later - kinda sweaty ... If the SHTTF I’ve read of nobody who knows how to hold onto what they’ve got financially - lots of survivalist info but I want to know how to get my dollars into a relatively safe currency while the euro, dollar and yuan fight it out - anybody know about small diamonds - nothing fancy, for value protection?
Hey porter, oh porter, will you tell me the time?
How much longer will it be till we cross that Goldman- Sach’s line?
At daylight will you tell that engineer to slow it down?
Or better still just stop this train cause I wan’t to look around.
The weath of generations gone, we have been ruined and destroyed,
And there’s nothing we can do since we all crossed that Goldman-Sach’s line.
Crimeny, I’m not a financial expert and I predicted a meltdown. Banks were forced to loan money to people (illegals) who would never pay them back, and they knew it, but had no choice. Duh!!!!! Democrats, what did you think was going to happen. The part that was so unrealistic about this was that nobody did anything to stop the Dems. and the Repubs stood by with their hands in their pockets and watched it happen.
Or another Nigel Pinchley
Avoid diamonds. They are a big deal in James Bond movies,,, but in real life, they are a dog. The problem is that they are very common. The illusion of rarity is created by the Debeers cartel cornering almost every location they are easily mined,, then accumulating a huge stockpile.
They carefully manage the supply for price by releasing a trickle from their hoard to make them artifically rare.
Other gemstones like rubies are far more rare.
As for small diamonds, the Russians have immense locations for mining the smaller ones and own that market.
Last, and worst of all, the diamond market is designed for one way trade. There is no realistic way to buy them,,and then sell them back for anywhere close to what you paid. Hence that old advertising slogan “a diamond is forever”. Get it? It’s politer than saying,, “you’re stuck with it!”.
Pawn shops are filled with cheap diamonds that if they were in a store at the mall would instantly sell for 5 times what you see them for there. Nobody could tell the difference. It’s all a marketing game.
That book “Blood Diamonds” gives an interesting look at how the diamond industry works. I’d highly recommend it. Don’t confuse it with the politically correct movie of the same name. Im a basic redneck, barely a generation above noodling for catfish,, and i couldn’t put it down.
Im way more interested in a safe currency. Obviously gold. Or maybe the Chinese currency that they refuse to revalue to please Wall street and the Europeans. I hear our political class bitch about the way the chinese manage their currency,,, so that makes me think they are probably doing something right. I think a major gold backed trade currency is on the way soon. The exporting nations, Russia, China, India, and the Arab-petro states are sick of accepting and holding mountains of dollars and euros that could be devalued at the whim of an Obama.
They will demand a gold backed currency.
Thats my free opinion.
They had their hands in pockets alright, but it wasn't in their own pockets.
...and a good one.
I like Weekly World News. Didn’t know it changed names, though:
SHOCKING WALL STREET REVELATION!!!!!
Women and children to be eaten by aliens
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First, buy this book. IT WILL SAVE YOUR LIFE!!!!! This book reveals little known strategies to save you, your children and your money. Don’t be the last to know. There’s only 49 books left. BUY IT NOW!!!
Now we will reveal the first step YOU must take to save your family. BUY THIS BOOK NOW! Since I started writing this paragraph, more books have sold. There’s only 27 left. Buy now and we’ll throw in the extraordinary bonus book titled “How I Escaped from Farrakhan’s Mothership Wheel ALIVE!!!”
I can’t tell you how IMPORTANT this life-saving book is for you. Read on, and I’ll tell you the first step on how to avoid being eaten by aliens. But first, BUY THIS BOOK!!!! It will reveal to you how to hide from aliens in public restrooms, major league baseball parks, and NASA. The aliens are everywhere, waiting to reveal themselves and eat your children.
This book will show you how to make your children invisible and also taste bad. We reveal to you the giant people vacuum cleaners that have been installed in the nation’s sewers. When turned on, your children will be vacuumed away. The first secret IN THIS BOOK tells you how to avoid the alien sucking vacuum cleaner with three simple items found in every household. The first item is under your sink and everyone has one. BUY THIS BOOK NOW!!!! Learn all the secrets you need to know NOW!!!
Wall Street Genius Robert Wiedemer Warns: THINGS ARE NOT GOOD - HELP ME PREPARE FOR THE COMING HARD TIMES - BUY MY PRODUCTS!!!
That’s the funniest thing I’ve read all week.
” This book will show you how to make your children invisible and also taste bad. “
Oh.. It’s a Publik Skool Teechur’s Manuel, then....
I think there’s a pitch for timeshare somewhere in there....
True enough. But Ruff -- I think it was him-- had an excellent phrase he used to describe the government-driven cycles in the economy: "The Malarial Economy." It think it's even more true now.
Begging to differ, put your money in doughnuts. I just ate 2 frozen doughnuts I got from Aldi’s frozen food department ($1.99) and heated them in the microwave until they were nice and warm on the inside and the glaze on the outside turned into liquid deliciousness I have not come across since I discovered Jello’s Cook and Serve Chocolate Pudding.
(checking to see if there are more in the freezer)
(waiting in front of the microwave to open it before it beeps so hubby won’t know I am eating more doughnuts)
Now I know how my dogs feel about the homemade peanut butter dog treats they watch me make for them and wake me up in the middle of the night to get me to give them more.
Thanks for your POV. Here’s mine:
I’m aware of the De Beers diamond market finagling but going with a currency based on a communist dictatorship (China) is not my cup of tea. “Stroke of the pen ... law of the land (world)” - I’m not going there and neither is the rest of the world.
For what its worth I don’t have a stock broker - I have a money manager. I have large caps, mid caps, small caps, US Bonds, foreign equities and ETFs and some other stuff.
Still, “completely diversified”, we took a 35% hit in 2008-9.
I saw the housing bubble, the MBS problems, FNMA, etc. coming and said to my guy what do we do?
Bass turd just says relax - it’ll work out. He’s got an answer for everything and in most respects he’s right.
You cannot market time. Bail on a big down and you’ll miss the big upside. Over time the market returns 7%+. Try that with a CD.
What about inflation you ask - we’re exporting it. Most countries are buying dollars and selling their currencies to prevent their currency from appreciating too much against the dollar hurting their exports.
Remember - the entire global financial system is fiat currency. That’s why the EU is panicking about Greece and the other PIIGS = Portugal, Ireland, Italy, Greece and Spain.
All are buried in debt as we are but there’s a difference - we are the world’s reserve currency. When the SHTF the world goes to US bonds.
Yes, we’re screwing the world by monetizing our debt but its a shared pain and its hitting the rest of the world economies in terms of inflation than US.
Still inflation will come back to bite us to the extent we import inflated price goods.
So what to do? I’m ready to bail and have made arrangements to bail to cash at DJIA 10K with a simple email. But I don’t think I’ll have to do that.
Stream of conscious to follow ... US corps are sitting on trillions of cash, hard as it is on the unemployed, corps do well with fewer employees and so do their stocks, the value of a corp is its assets as well as its dividends, remember where the world goes in a flight to safety (US), the EU is screwed, increasing riots to follow as austerity measures are forced - it can’t last especially when Italy fails ... petrodollars are just that dollars, the Mid East is a step away from a Caliphate but if one is established and they ask the US to bow our next President will not. They will be schooled on the definition of Superpower if they punitively withhold their oil.
Lastly and most importantly, there’s a bunch of extremely wealthy folks around the world running things and they don’t want the world to go down the toilet. Soros, Obummer, et al are overdue for a market correction. IMHO.
Asia and Europe look good for tomorrow (today) - Good morning! ... ;-)
Oh my gosh, I thought I was the only one to fall prey to Aldi frozen doughnuts. The only downside of owning a 24cu ft freezer is I had room for five boxes of those. “For the children”, of course....
I’ve mentioned this before on Free Republic, but I’ll repeat.
Jews fleeing Germany in the late 1930s would sew diamonds into the the hems of their clothing.
Unlike metal it was much more difficult to find cloth-wrapped small diamonds among tailored clothing than heavy coins. This secreting of diamonds is best done on clothing with pads, weighted hems, or rolled seams.
Getting your savings out of the country is important. At some point it may be impossible. This is a suggestion of one means to do so.
Just a note: some of the most valuable diamonds, because of their rarity, are pink diamonds. These should be natural occurring pinks, not the kind heat-treated.
I hope this helps.
You’re a doll. ;-)
All good advice and information.
You need to work on the accent!
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