The Greatest Depression Is Coming

Financial Sense ^ | 11 Mar 2003 | John Finger

[js1138]

As someone who was laid off a year and a half ago, and is still self-employed with no benefits, I'd have to say that employment is shifting rather than unavailable. I never thought that programming would join the buggy whip industry as an exticnt form of employment, but it has, at least temporarily.

Now matter how it happens, changing careers is difficult. But the alternative is to have industry stagnate with unproductive locomotive firemen and other dreck. I would not be able to call myself a conservative if I whined around and waited for government to force someone to hire me.

[Phaedrus]

Notice the inverse correlation? Gold is a dollar-denominated commodity.

[RipSawyer]

Really, the only bills I have are my rent, electric, food, and insurance for medical and my car.

The only bills I have arre my electric, food and insurance, I still have a problem.

[CommandoFrank]

I've never read so much BS in one article.

You actually read the entire article???????

[Axenolith]

If you owned 1000 shares of Cisco (CSCO) on March 31 and sold it you would have missed out on $10,320 profit on Cisco. If you'd taken the money that same day and put it in Coeur D'Alene Mines (CDE) (aquiring about 9000 shares) you'd have made $36,000.

ASL - 2250 shares, +$18,000
EGO - 10,250 shares, +$22,700
etc...

Get the picture?

[Radioactive]

Inflation is here---you just are not aware of it because the govmnt fudges the numbers.

The extremely rich in this country and throught the world are buying gold right now.

The dollar is falling apart and there is talk of not accepting it as payment for oil.

The very rich are now shorting the dollar.

You would be wise to follow what the very rich are doing.It is a good indicator of what will follow.

Gold has always been valuable throughout the history of man and will still be valuable despite the wishes of the federal reserve and the world bankers.

[SevenDaysInMay]

We are barely into the beginning of a permanent war of terror because of 1st to 4th World islamists, eventually with nuke/bio weapons. Islamists are breeding faster than we have the will to destroy them, and they know it.

With the Bush socialist Keynesians spending us out of a bubble burst, crime spree recession, inflation is coming. The Democrats are demonstrably fascists, aka corrupt socialists. We shall have a very tricky inflationary recession, before or after a city or more is killed. We will evacuate/abandon rather than clean up because of the potential trillion$.

Study up on Strontium, Cobalt, Cesium, Plutonium, Uranium, et al. rat poison in blast wounds, popular with HamAss.

To think that horror is not looming, IMO, is childish. Look at our mortal enemies. They want us dead. That is their ticket to Mo'ham's pair o' dice.

Islam commands them to kill us. Read their holy books. As written and practiced by too many, so far, islam is a death cult commanded to conquor the entire planet, invading one land after another as they have since the desert bandits raced into their more productive neighbors and killed them.

I advise my clients to own 'clear title' if at all possible their very well stocked (food, water, tools, and medical kit) and defended home, and reasonably accessible productive land if they can. Buy lots of heavy metal, Homeland Security arms, lead, copper, and brass. Know how to grow food and hunt 'n' fish with a trusted party always watching your 6. Cars/trucks are another matter - if shtf, who'll come repo'?

We are likely to face serial mass murder terror war across this nation because there is no reason to discount the commands in the muslims' Koran, Haddith, and other holy scriptures with fatwa after fatwa. The effectiveness has been proven in Israel. Never forget, Islam commands this of "good" muslims, after they kill the peaceful, "bad" muslims, then the Jews, "wherever you can find them".

We and our children must plan on our economy being hit time and time again. Our miracle mixed-capitalist economy is our strength so it is Qaeda's prime target. We must prepare to fight this war on our street corners on the way to work and soccer practice.

We may loose our Constitution overnight if Gen. Tommy Franks, Ret., is correct about the first nuke/bio hit we take. That (those) declaration(s), as signed by XXX-42, will turn our society on our heads as the government "claims" all resources, material and manpower without compensationdiscarding our Ratified Constitution.

That may even ignite a civil war against unConstitutional martial law.

Each of us will be tested, our will and our Faith. Know Thy Enemy, foreign and domestic.

Until then, learn and practice decision theory and common sense.

Aim small. Miss small, Patriots.

[narses]

What analysts follow CDE? Why would you assume I'd buy that?

[BigFisherman]

I enjoy your posts. Puplava now links to my articles. I get several hundred readers from his site on every link.

There is a mass movement toward gold for true American Patriots. Our founding fathers allowed for only one death penalty. Those who debase our constitutional currency: gold and silver.

Keep posting. One day those who do not see how fiat currencies usurp freedom will wake up.

Even here.

[Axenolith]

I'm sure a few, since they're the largest silver producer in the world. I didn't assume you'd buy it either, I just used it and 2 other representative gold\silver stocks to demonstrate that one would have made a lot more money selling Cisco and buying them in March...

You can continue the excercize with pretty much any other gold or silver stock and get the same results. The exception would be the South African based producers, who are getting shellaced by the Rand appreciation. A lot of those producers are planning on idling their mines if the Rand appreciates to the 6-6.50 range (which it is damn close to). That will greatly accelerate golds rise...

[Axenolith]

BTW, I own CDE and EGO and sold ASL recently...

[doosee]

You like to start personal attacks I see. I like a good heated debate but there is always a juvenile mind that uses the forum to show how crude one can be. Have a great day.

[bvw]

Illegals have one idea right. Get paid in cash.

Illegals have two ideas right. Pay in cash.

I'm talking the illegals I know, who are all hard-working men.

They are not paying into Ted Kennedy's slush funds, nor into Leahy's Senatorial endowments for the little dairyman. Hooray for that!

* * * *

Now the "Gocery Insurance" already exists, it's called food stamps, but doesn't require any co-pay. The Federal Nanny Staters would be better at marketing it if they called it "National Grocery Insurance", or "Grocecaid". Then they could have Hillary and Bill marketing it. Bill would make an especially fine insurance agent, doncha think?

[eseales]

Radioactive, Inflation isn't here. Don't care what you try selling (about what the "rich" are doing ) Not buying.

Productivity at the rates they are at, shut down inflation in a hurry. And you said gold to $800 (wanna bet). Yes I do.

I say Gold ain't there in 6 months or a better yet, I'll give you a few extra months to get there and say by the election next year. Gold won't be anywhere near $800.

And if you actually believe that the dollar isn't the world currency or that Countries or businesses won't be accepting it as payment....gezz, you've lost it in some paranoid world of "what's to come"....

Though we do agree on gold being a valuable assest. I will agree with you there, but one has to not inflate its worth.

[Radioactive]

And if you actually believe that the dollar isn't the world currency or that Countries or businesses won't be accepting it as payment....gezz, you've lost it in some paranoid world of "what's to come"....

All I can say to this is Iraq just berfore the war stated that it was no longer going to accept dollars in payment for oil.That is the #1 reason why we went to war....and it was a good reason to fight.

Saudi Arabia, Iran, The Soviet Union and about 30 other countries have said that if the dollar fluctuates as wildly as it is now doing, then they will no longer accept dollars.Even China, who pegs its currency to the US dollar, is talking about pegging their currency to the Euro which is far more stable at this time.

Call me paranoid if you want, but the fact of the matter is people want things of value...and the dollar has no real value except in the mind of man.

Fiat Currencies have never in the history of man been able to survive for too long without destroying the economies that use an illusionary money system.

[gipper81]

Comstock partners???

These guys have been predicting the end of the financial world for 20 years. I'm surprised they have any managed funds left.

[Gondring]

Bump

[GraniteStateConservative]

I have $20,000 available from a life insurance payout from my Dad. My wife and I don’t need the money (as long as I’m not fired). We are risk averse even though we are in our 30s. What would you do with it?

[WashingtonSource]

People should notice this article was published in 2003. It was wrong on almost every count.

[wagglebee]

People should notice this article was published in 2003. It was wrong on almost every count.

Exactly, it's main focus was the stock market and ironically, it was written in the same month (March, 2003) that the last bull market started.