Posted on 03/04/2008 7:54:09 AM PST by Gritty
So we’re all screwed. I’ll just build a hut in the woods and live like a caveman till it all blows over. ;-)
Anyone here know how to translate “hysterical goldbuggery” into Farsi?
Yeah, I’ll take a chip of gold to buy a Big Mac, oh wait, I need some change from that............
We haven’t had a deep recession in 20 years. Right now we have seen two months of zero or perhaps negative growth and there is panic is in the streets. Who knows how bad it will get, but let’s not lose our heads. The glut of housing really isn’t that bad. We have a 10 month supply of houses with low demand. Demand is actually picking up, it is the banks who are holding things back.
>>Can the U.S. financial crisis be contained within America’s borders?<<
Well, for starters, we could build a BIG WALL.
Why should we Americans wish to “contain” this crisis within our borders? I say: Let’s share the pain!
Well we have a lame-duck president and a Democrat controlled Congress. Blame them.
Oooh. I’m scared. We’re all gonna starve. (Well, I was on a diet, anyway!)
Yo homie! Yeah, but not like dat, like DIS!
The dollar is going to continue to weaken (due to low, low interest rates and Fed stimulation), but the price of commodities will fall?
Huh?
Maybe in terms of a strong currency, but not in US dollar terms. Since Canuckistan’s economy is so dependent on ours, I don’t see anything very different happening there (and, yes, there are the occasional times when the Canadian dollar appreciates vs. the $US, but not most of the time).
No, nothing goes up forever. But the fix is, IMHO, in on commodity prices in $US for a while to come. Until we start raising intest rates or get control of our debt, commodity prices will stay high. Further, the sky isn’t falling as this guy would have everyone believe. Go to any mall, and you’ll see what a tremendous recession we’re in. /sarcasm.
Malls in Central Georgia had heavy buying this weekend almost like Christmas shopping. But this 3.25 gas is starting to wreck havoc with lower income workers.
Rising gas and nitrogen prices is causing inflation in basic food prices. Not sure if the general population can keep up.
>>it is the banks who are holding things back.
Systemic corruption is what’s holding things back.
Nobody knows who they can trust anymore.
Got FICO?
If only it would go to 11...
I strongly suggest that folks invest in hardware commodities. Historically, no matter what the money situation is people need hardware.
Basic tools, shovels, brooms, hammers, nails, ammo, silver, shotgun/rifle, hand tools, car parts for high production vehicles, standard size tires, sugar-salt-spices, etc, you get the idea. Such items do not spoil and when/if things go back to normal they still can be sold back into the market for near full value.
Some items, such as ammo and some ugly rifles have increased in value and are creating a profit. All are much easer to deal with that gold and always have a ready market
This guy may be right, but I distinctly remember similar “economic collapse” scenarios being promoted back at least as far as the mid-70s. Lots of them associated with best-selling books.
If you predict disaster long enough, sooner or later you’ll be right.
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