Posted on 11/18/2011 2:20:36 PM PST by Nachum
Something major is occuring in the markets today.
The US economy peaked in 2007. However, throughout much of 2008, the stock market continued to rally despite the economic collapse as well as the financial system imploding.
Throughout this period the credit markets jammed up and implied something VERY BAD was in the system. However, stock investors continued to pile into stocks because, well, frankly stocks always are the last to "get it."
And when stocks finally did get it... it was quite a thing.
This same environment is occurring today. Only this time the collapse is sovereign in nature: entire countries are going bust.
We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned that we are facing an epic, hellish crisis.
We got the first taste of this in August when the S&P 500 literally wiped out a year's worth of gains in two weeks The only thing that brought us back from the brink at that time was the belief that the EU mess might be solvable and a coordinated intervention from the world Central Banks.
(Excerpt) Read more at zerohedge.com ...
Auntie Em Auntie Em twister...
Sorry, did I miss something?
I’ve been outside raking leaves all afternoon.
Did we survive?
It’s a secret message:
BE SURE TO DRINK YOUR OVALTINE!
I think its time to sell everything I have and buy stuff to sell at flea markets
Why? Why lead instead of say copper or aluminum?
Must be about Nickleback performing at halftime of the Lions Thanksgiving Day game.
Reading the prepper ping list articles I know I am one who will die quick when the SHTF. Someone posted an article yesterday about Argentina after 2001. It’s more of a “partial” SHTF than the one “selco” posted from Bosnia, which was pretty much total anarchy while two armies squared off with them in the middle.
Ours will more likely be like Argentina. I doubt there will an organized rebel movement to take out the corrupt old government. We’ll be stuck in poverty, using black markets, worried about criminals breaking in and killing us and violating our kids and wives. Paying bribes to get out of tickets, because the officers (and everyone else) would rather have the bribes.
It won’t be pretty. It won’t be temporary in the short term. It will be long term. We’ll be stuck with perpetual kleptocratic, incompetent, ineffective government.
We will be a third world nation. “Welfare” and other checks from the government will dwindle, even that will be harder and harder to get for those not friendly or related to officials or bureaucrats.
Imagine those on food stamps getting $350 a month suddenly finding that because of skyrocketing prices (at least that won’t count as inflation, lol) they effectively are now getting $35 or $50. It will be the same for those on social security and other fixed incomes. It’ll bribes (barter?) to even see a doctor, even with government healthcare.
Many won’t survive. People won’t be able to pay their mortgages and their savings are becoming worthless. Private savings accounts could literally be nationalized (Argentina). As the Argentina article points out, the justice system will be crippled, crime will be rampant, kids (and women?) won’t be able to go outside without (armed) supervision.
In the Bosnian warzone under seige selco found that gold bullion would have been pretty useless. Butane for filling up lighters was like a goldmine. I think I am recalling that correctly.
So with total ‘local’ collapse gold coins are kept until its over and you can trade with the outside world. Unfortunately for us, there isn’t likely to be an outside world to restore order and re-engage with. Right now it looks like EUrtopia will collapse first.
You know, most people are probably scoffing at your comment.
Me? I think you’re pretty damn close to hitting the nail on the head.
A visitor from the future told me to invest in Zinc.
“Ven I say ‘fasten your seatbelt’, I vant to hear vun big click!!”
Scary !! but technically not true since I havent been asked yet. If i knew what it was, well..maybe.
I diversified into lead, copper and brass. I find the copper/lead pairing moves a lot faster.
i have been wondering that too... that and these Occupy[your city here] protesters
They are too stupid to be a real spontaneous uprising
they are paid distractors-
but distractors from..what?
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