Posted on 03/07/2011 6:41:10 PM PST by blam
Doug Casey
March 7, 2011
[snip]
What do I mean by that? There’s plenty of reason to be concerned about things financial and economic. But I personally believe we haven’t been bearish enough on the eventual social and political fallout from the Greater Depression. Nothing is certain, but the odds are high that the US is going into a time of troubles at least as bad as any experienced in any advanced country in the last century.
[snip]
Ugh.
What a ray of sunshine!
I’d be a bit careful with the hyperinflation predictions given the continued glut in housing and continued increase of supply. Hyperinflation is a long way off. Right now we are seeing what we did in 2007-2008, (food and energy). without the jobs.
The Market Orangatan writers off their meds again?
I hope these articles are over blown but when they run the numbers they seem to make sense. I just hope they’re wrong.
cool, I’ll sell off a few ounces of gold and pay off my mortgage. Then I guess I’ll be raising chickens and goats. maybe some rabbits. Bring it.
Major hyperinflation has only occurred in modern history where countries have enormous amounts of debt denominated in a currency which is not their own.
The U.S. has large debt - but all in US dollars.
We will be following the path of Western Europe and suffer major deflation.
Poor comparison, IMO. The foundations of the economy are markedly different than 3-4 years ago. The gargantuan debt, primarily financed by printed money, not even real money that was borrowed. And in the context of no chance that will change.
Add to that a significant drop in domestic energy production, as well as serious efforts by DC to kill future production.
Finally, don't forget ObamaCare is already crapping up the economy, and will continue to do so regardless of any court rulings.
No, the fundamentals are much worse now than in 07-08.
I would trust Ludwig von Mises rather than any Keynesian.
tell me if anyone knows....can I drive across the border into Canada and open a savings account?....do I need to declare cash at the border?
well, no point in not having that extra piece of pie then is there?
tell me if anyone knows....can I drive across the border into Canada and open a savings account?....do I need to declare cash at the border?
I’m not sure as to whether or not you would be able to open an account without Canadian residence. I just know that I am glad to be watching the trainwreck from the northern side of the border.
Correction—10K Canadian is presently about 10300USD—still haven’t got my head wrapped around the loonie being above par.
LOL. I understand and may employ that sentiment..shortly.
There is an old saying from the old and notorious Vancouver Stock Exchange, and is that so long as it is going up the public will believe the most preposterous story. Then, when the price fails belief fails and is followed by remorse.
It is not too big a step to consider that so long as government credit is expanding too many will believe in its bounty and blessings. Or will be complacent. However, the changes in the financial markets that began in 2007 are reducing the market’s abilities to fund ambitious government. In April (2010) our work noted the change in the money markets that would soon afflict corporate bonds, stocks and commodities.
-Bob Hoye
A good assumption, provided that the rest of the world plays along and keeps trading in US dollars. A petroleum distributor in India must convert the ruppees to dollars to buy oil. Australians buying rice from the Phiillipines have to convert the aussie dollar to the US dollar to do it. What happens if or when when the rest of the world decides to start trading in remminbi or rand or euros?
An economist I read not too long ago described hyperinflation as an abondonment of faith in a currency, not the way too much money chasing too few goods & services.
Dmitry Orlov describes what he calls "superpower collapse soup" common to both the U.S. and the Soviet Union: “a severe shortfall in the production of crude oil, a worsening foreign-trade deficit, an oversized military budget, and crippling foreign debt.” He believes the U.S. will fare worse during the coming economic collapse because Americans have fewer backup plans than did the Russians.
Huh? How do Argentina, Weimar Republic, and Zimbabwe figure in to this?
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