Skip to comments.Warning: America’s new Age of Austerity starts now - Denials, delays will deepen the impact
Posted on 05/29/2012 5:23:01 PM PDT by 2ndDivisionVet
Warning, tighten your belts, Americas new Age of Austerity is already here, today. There I said it. I admit it. And you better too. Prepare now. Could be like the 1930s depression austerity.
Youve seen the warnings all across the major newspapers about a global slowdown. But why no warnings of austerity dead ahead? Why? Americas still deep in denial. We prefer happy talk to the truth. No, nobody will get honest about austerity till after the elections. Then itll hit hard.
Wake up. You were warned: Americas new Age of Austerity is already here.
Till the elections, nobody else will tell you the truth about what comes with this slowdown: Plan on classic economic austerity. Maybe not austerity as deep as the euro zones Spain and Greece. Yet maybe deeper than the 1930s as Nobel economist Paul Krugman writes in his new book, End This Depression Now.
Yes, Americas already in a depression. Wake up America, to a long bear market, a recession cycle, to austerity where everything slows down, income, jobs, retail, global trade, and market returns. Listen to the latest warnings just last week:(continued)
(Excerpt) Read more at marketwatch.com ...
Yea. Quite sugercoating it. Tell it like it really is. We have a very rocky road ahead or which cabin is yours on the Titanic?
And I thought the movie, “Deep Impact,” was just about asteroids!!!
I think it will be just the opposite of austerity. Politicians will continue to spend recklessly until the System implodes on itself. This is especially so now that we’ve reached the 50% tipping point in terms of people getting entitlements.
America 2012 is like the family in 2008 with a 550 credit score that was riding a wave of false prosperity based on credit cards and helocs.
Two luxury SUVs on lease, a 4000 sf McMansion with no equity, and deluxe vacations every quarter.
The end result will be similar, sadly.
Something I wonder about (or remember, depending .. ) are the commercials left in that caution you housewives to save even a spoon of left over fat a day will make a pound in a month, that you can take to your butcher who will see to it our boys will get the needed gunpowder to get Hitler and Tojo.
As I contemplate those commercials, I remember old movies I've seen that will show kids walking the tracks finding scrap to donate for airplane parts or some such thing.
WW2 was only 70 some years ago, and our entire nation was involved with winning the war ... killing the enemy ... and not apologizing for that desire nor the words used to describe it.
I was born in '48, so I was not an actual part of that history, but we eight kids grew up with Mrs Filbert's Margerine, which I vowed .. when I get bigger, I'm going to have nothing but butter!
And my belly fat proves the tenacity with which I clung to that vow.
The inner city Amish will not stand for austerity.
Austerity? No sweat.
I was born in ‘32,my brother in ‘35,and my father died in ‘38——and then the war.
Doing without was a way of life. No big deal.
Between now and May, 2013....is my guess.
That won't occur until after the Republicans lose both the House and Senate in the next election after this one in November.
When the Democrats regain control of the purse strings....you can expect it to end with hyperinflation.
Thank you, dear Vet, for posting this column.
” He seems like an optimist to me.” <<<
He was likely not speaking to us little people, but to the investor class. And I am curious about those little people who are still in the market, for what they are keeping and what they are dumping and cashing in.
Not many small investors in the market anymore. (IMO)
Hey, thank you very much for your response. What you read makes sense, given there is so much activity, yet no one I know is bragging of making even a few dollars on any stocks.
I do hear plenty about metals buying and oil, but wonder what the ROTH owners did with their ROTH, or are about to do. Young career couples went in for ROTH and I wonder if they still have them or traded them for a little gold or silver, or what?
Just thinking out loud, here.
Will Romney become our führer?
Sources and things I’ve heard is it is more like 2014...
I hope you are right and we have another year or so, but like it or not the worlds economy is in for a fall and the piper will have to be paid! We might not fall as far or as hard as many countries, but I believe a fall is inevitable.
You either prepare and stand on your own beholden to no one or you become dependent on others to provide your basic needs and become thierserf. Me I dont want to be beholden to anyone for providing what is needed for me and mine. I certainly dont want to have to kiss some gubberment third class bureaucratic to try and coax some help from them, I dont want some jack booted thug herding me in line and telling me where to stand, sit, eat or sleep. And last but not least I dont want to be shut up in with a bunch of zombies and have to worry about not only trying to get basic necessities but having to fight to keep what I manage to get.
Now anyone thinking that prepping is foolish ask you whats easier telling your children and loved ones why you prepared or explaining to them why you didnt?
But if any provide not for his own, and especially for those of his own house, he has denied the faith, and is worse than an unbeliever. 1 Timothy 5:8
But then someone has to stand on the bridge waiting for FEMA to bring them a bottle of water, an MRE and a warm blanket so as to provide the Network Anchors their background Money Shot. I wonder how that will workout for them?
Face it weve kicked the financial can so far down the road that we are running out of road and the can which was once the size of a soda can is now the size of an oil drum (Try kicking that!)
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who havent started already its time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say When the emergency is upon us the time for preparedness has past.
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
Lastly this for the doubters and the scoffers.
There is no greater disaster than to underestimate danger.
Underestimation can be fatal.
If you truly believe that Gov. Mitt Romney is actually worse than Mr. Barack Obama, just come out and say it. Don’t pussyfoot around.
Yup...Could be. Mine is just a guess.
I think the Republicans will win the House, Senate and the Presidency...the markets will crater after the first of the year when everyone realizes that the Republicans can and will stop overspending and begin cutting...austerity.
Everything is artificially puffed up right now anyway....
I can tell you what we’ve done.
We have cashed in a large life insurance policy and paid off the mortgage and vehicle loan. The only remaining debts are a couple small ones to a bank and a credit card. Those should be paid off before the end of 2013.
This was my 85-year old father’s life insurance policy. I have power-of-attorney, and the house and vehicle belong to him. I paid them off on the chance that the inusurance company may go bankrupt and there will be no way to pay off his debt upon death. There is a small insurance policy that will pay off the remaining debts.
We are storing food, ammunition, paper products, materials for maintanence and repair of our two vehicles (my 20-year old nephew is a superb mechanic & lives in grandpa’s house with me; he is attending school to be a welder). A vegatable garden is going to be installed soon, along with espaliered fruit trees. We will both be getting hunting and fishing licenses.
As for buying precious metals - that is fine if you have a lot of wealth to preserve, which we do not. You can’t eat gold and silver for sustenance during a depression.
Oh, no, I didn’t vote for Øbama and I believe the Democrats are history. But, if the Third Reich is any guide, someone is going to mount a podium and thrust his hand in the air. I don’t think Romney is strong enough but an authoritarian government is in our future. Just speculating.
Leads to the question, perhaps the suspicion, that a buyer of a stock is the same as its owner.
Oh, no, I didnt vote for Øbama and I believe the Democrats are history. But, if the Third Reich is any guide, someone is going to mount a podium and thrust his hand in the air. I dont think Romney is strong enough but an authoritarian government is in our future. Just speculating
It seems to me that the authoitarian government is already here. Look at the ability to monitor.
When the food runs out, those worthless five dollar bills will at least provide some roughage. :)
Booklets of war bond "stamps" at face values of cents... another peanut can, on my dad's dresser...full of combat ribbons...fun for a kid to arrange and rearrange in colorful rows...
Those were the days...America could stand a siege of austerity, just to remind the marshmallows out there that life is sometimes tough..
That’s what I believe too on metals—and the expense is in the scary range already.
Except for oil, wouldn’t put a cent into the USA under Obama. NOT. A. CENT.
Time to cash in the small ROTH which was bet, at the time, on Merkel’s austerity measures in Germany and with that buy, instead, stores of commodities like yours.
You have done fantastic work with your own situation and I do understand the urgency of being out of debt. Thankfully, we are out of debt, but then we are quite behind on storage items, with no gardening situation and no fishing holes!
This coming from the Wall Street Journal is the exclamation mark to my concerns, so it is time drop the procrastination.
Thank you so much for your story. I appreciated it and enjoyed hearing it. You are an encouragement and I’m proud for what you have already accomplished. Makes me want to get going too. Thanks, SD.
God be with us, and us with God.
The only place I differ with you is the Republicans, even holding the House, Senate, and Peesidency, will do any serious budget cutting. They won’t. They don’t have it in them.
So we buy maybe one more year before the bottom falls out. That’s it.
Not likely we'll see a libertarian president this cycle, however.
LOL, post of the day
There will be no austerity till full collapse. Democracy’s can’t do austerity. No one will vote to limit their own take of the look.
Which is why democracy’s always fail. And we are going to.
(We stopped being a Republic a long time ago).
I totally agree. Our govt will continue borrowing and spending until finally they will be unable to avoid the total economic collapse. Use the little time left to stock up on plenty of food, gold, silver and ammo.
I've found that buying grains, brown rice, peas, lentils, dehydrated potato slices, dehydrated potato hash browns from bins at the market is cheaper than buying them in large 50 to 65 pound bags. I bought a 65 lb. bag of red wheat and it was much more per pound than buying it from a bin in a supermarket! The only exception has been white rice; we buy the 16 lb. bags of Basmati rice from India at Costco. (White rice will keep for a very long time; the brown rice will not.)
WalMart sells dehydrated and freeze-dried food in the big #10 cans for preppers. They also sell canned Danish ham (brand name is DAX) in 1 lb. cans. We've bought canned chicken from Costco and canned beef from Krogers. Be sure and check the expiration dates. It is always good to rotate your cans so nothing gets old too soon.
We're buying charcoal for cooking outside. I've converted an old propane-fueled grill/barbecue into a contained unit for using cast iron dutch ovens; the dutch ovens are placed on a large flat cast iron grill (thank goodness for Ebay!) where the burner used to be located. This way I can cook meals outside even if it is raining and the coals won't be flooded out.
It is possible to store charcoal using large plastic garbage cans. About ten large garbage cans should supply most families with enough charcoal to last a year. Directions for making charcoal can be found on the Internet though I haven't tried it yet.
Good luck and God bless. If you have any questions or suggestions don't hesitate to contact me via Freepmail.
Lot of these when I was a kid.
“Eat it up, wear it out. Make it last, do without.”
This says it all. This is the path to prosperity, a little Yankee wit and wisdom from the 30’s.
I have downloaded and thanks!
Isn’t that the deluxe family of 12 model?
What’s the point of the oil and filters? If you can get gas, you can get them. If you can’t get gas...
Eventually, this proposition is going to be tested.
For you since you have no preps of plan for gas, then for you don’t bother with oil and filters.
It wasn’t a rhetorical question. Gas goes bad, quickly. Yes, I know the time frame can be extended by adding a little diesel to help prevent oxidation of the gasoline, but it still isn’t indefinite.
Gas is definitely the weak link in most people’s prep plans - it’s difficult to store a sufficient quantity for any extended amount of time. Or do you have some knowledge that might come in handy?
Watch Greece - that’s us in a few years...
It's the only way to not have things crater.
That’s what all those FEMA trailers and camps are for...
That's where they'll put all the rioting and looting people.
They'll be death camps.
I love your profile page! LOL! You’re two years older than my Mom, and she would probably post the same thing!
“Youre two years older than my Mom, and she would probably post the same thing!”
Yes she probably would.
We were what is called “The Silent Generation”.
Too young to be “The Greatest Generation” and too old to be Boomers. Our war in Korea has been referred to as The Forgotten War.
But we sure as heck know what self sacrifice is all about.
And lordy did I love the fifties.