This is the nut of the issue, the gamble that we are taking, in a nutshell (from a zine)
South Korea
is one of the largest holders of U.S. Treasury bonds. On January 19,
the head of investments for South Korea's government pension service,
Kim Heeseok, told Bloomberg, "It's time to sell U.S. Treasuries"
because the ongoing stimulus is going to cause inflation. We are
squandering and destroying the greatest advantage of our country –
control over the world's reserve currency.
In
2009, we will see government spending approach 30% of GDP. Our
government is now bigger, as a percentage of our economy, than the
socialist states of Europe, excluding their health care expenditures.
And these figures don't reflect the Federal Reserve's actions. The Fed
has tripled the size of its balance sheet, creating enormous
amounts of new money by lending to hundreds of ailing banks and buying
up more than $1 trillion worth of questionable asset-backed securities.
This month, the Fed pledged to buy yet another $500 billion of Fannie-
and Freddie-guaranteed mortgage securities, helping to force mortgage
interest rates down.
This
is how America ends – with the lie that we all can live at the expense
of our neighbor and borrow endlessly. Rather than simply face a
downturn in the economy, we plan to borrow trillions of
dollars our children and grandchildren will be forced to repay. Rather
than let all those people and institutions that took on too much debt
(like GM) be liquidated and restructured, we plan to risk a
hyperinflation. Rather than insist homeowners who can't afford their
mortgages lose their homes, we would jeopardize the credit rating of
the country.
This is the nut of the issue, the gamble that we are taking, in a nutshell (from a zine)
South Korea
is one of the largest holders of U.S. Treasury bonds. On January 19,
the head of investments for South Korea's government pension service,
Kim Heeseok, told Bloomberg, "It's time to sell U.S. Treasuries"
because the ongoing stimulus is going to cause inflation. We are
squandering and destroying the greatest advantage of our country –
control over the world's reserve currency.
In
2009, we will see government spending approach 30% of GDP. Our
government is now bigger, as a percentage of our economy, than the
socialist states of Europe, excluding their health care expenditures.
And these figures don't reflect the Federal Reserve's actions. The Fed
has tripled the size of its balance sheet, creating enormous
amounts of new money by lending to hundreds of ailing banks and buying
up more than $1 trillion worth of questionable asset-backed securities.
This month, the Fed pledged to buy yet another $500 billion of Fannie-
and Freddie-guaranteed mortgage securities, helping to force mortgage
interest rates down.
This
is how America ends – with the lie that we all can live at the expense
of our neighbor and borrow endlessly. Rather than simply face a
downturn in the economy, we plan to borrow trillions of
dollars our children and grandchildren will be forced to repay. Rather
than let all those people and institutions that took on too much debt
(like GM) be liquidated and restructured, we plan to risk a
hyperinflation. Rather than insist homeowners who can't afford their
mortgages lose their homes, we would jeopardize the credit rating of
the country.
It's not Citibank, Lehman, AIG, or any of the other countless banks who took (stole) trillions from the US Government. Let's blame it all on GM for having retirees and needing some billions after the banks helped create this debacle. My Republican friends tell me it's the damn labor unions who are at fault as well. Let's all be anti-union like my Republican friends. Let's all be anti-union like my Republican friends, the communists, the Third Reich, or any other dictatorship throughout history. My Republican friends always tell me it will be better for all of America when no more middle class Americans have unions, pensions or healthcare when they "retire". Our sorry state of the present US economy has a whole lot to do with the Republican President Bush Jr. almost single-handedly (after the Republican majorities in the US Senate and US House at the time) gave the Republican Bush Jr. a rubber stamp to recklessly "negotiate" any and all new world trade deals with China, India, Russia, Brazil, Ukraine, etc. without even having to re-visit Congress. It has a whole lot to do with the Republican dream of a "New World Order" as talked about by Bush Jr.'s daddy when he was President. Our sorry economy has a whole lot to do with the Republicans forcing the US labor force to compete with billions of Chinese, Indian, etc. laborers slaving away for dirt cheap wages, little or no retirements, little or no health care. My Republican friends still say the blame lies with US labor unions, pensions, GM retirees, etc. Throughout history those who had the highest manufacturing output per citizen enjoyed the highest standards of living, the highest property vaklues, etc. Thanks largely to the Republican Bush Jr.'s reckless expansion of trade agreements with China, India, South Korea, etc. many American laborers can no longer afford to buy the new car they manufacture, the new house, etc. Who's going to buy the new American cars? The non-unionized underpaid Mexican laborers? Will the non-unionized underpaid Chinese laborers buy our new cars? So, here we are with our deflation, our fake service sector based economy and our fake credit bubble "wages". Thank you Republican Bush Jr. and the Rebublican majorities in Congress at the time for freely giving away our American intellectual property and making Americans compete in wages, pensions, health care costs, etc. with the billions of slave wage laborers from around the world who can freely copy/pirate our products at will. Thank you Republicans for your dream and realization of the New World Order as spoken about by daddy Bush.
It's not Citibank, Lehman, AIG, or any of the other countless banks who took (stole) trillions from the US Government. Let's blame it all on GM for having retirees and needing some billions after the banks helped create this debacle. My Republican friends tell me it's the damn labor unions who are at fault as well. Let's all be anti-union like my Republican friends. Let's all be anti-union like my Republican friends, the communists, the Third Reich, or any other dictatorship throughout history. My Republican friends always tell me it will be better for all of America when no more middle class Americans have unions, pensions or healthcare when they "retire". Our sorry state of the present US economy has a whole lot to do with the Republican President Bush Jr. almost single-handedly (after the Republican majorities in the US Senate and US House at the time) gave the Republican Bush Jr. a rubber stamp to recklessly "negotiate" any and all new world trade deals with China, India, Russia, Brazil, Ukraine, etc. without even having to re-visit Congress. It has a whole lot to do with the Republican dream of a "New World Order" as talked about by Bush Jr.'s daddy when he was President. Our sorry economy has a whole lot to do with the Republicans forcing the US labor force to compete with billions of Chinese, Indian, etc. laborers slaving away for dirt cheap wages, little or no retirements, little or no health care. My Republican friends still say the blame lies with US labor unions, pensions, GM retirees, etc. Throughout history those who had the highest manufacturing output per citizen enjoyed the highest standards of living, the highest property vaklues, etc. Thanks largely to the Republican Bush Jr.'s reckless expansion of trade agreements with China, India, South Korea, etc. many American laborers can no longer afford to buy the new car they manufacture, the new house, etc. Who's going to buy the new American cars? The non-unionized underpaid Mexican laborers? Will the non-unionized underpaid Chinese laborers buy our new cars? So, here we are with our deflation, our fake service sector based economy and our fake credit bubble "wages". Thank you Republican Bush Jr. and the Rebublican majorities in Congress at the time for freely giving away our American intellectual property and making Americans compete in wages, pensions, health care costs, etc. with the billions of slave wage laborers from around the world who can freely copy/pirate our products at will. Thank you Republicans for your dream and realization of the New World Order as spoken about by daddy Bush.
You live in a wonderfully simple world: Republicans bad, Democrats good.
It must be comforting to live in such a simple world. Comforting, but utterly fatuous.
Was NAFTA "reckless?" It was promoted and signed by Clinton. Do you object to loosened trade barriers, or just those negotiated by Reoublicans? Want to return to Smoot- Hawley days do you??
The "fake service economy" was the creation of decades, and heartily supported by partisans of both parties. (and by the way, generated trillions in revenue, just not enough to keep up with government spending) Post- industrial Koolaide was drunk by both parties, and both parties are owned by K Street...it is a revolving door, my friend, and to work under the illusion that Democrats do not immediately head to that gilded street after leaving office is to truly be delusional.
You live in a wonderfully simple world: Republicans bad, Democrats good.
It must be comforting to live in such a simple world. Comforting, but utterly fatuous.
Was NAFTA "reckless?" It was promoted and signed by Clinton. Do you object to loosened trade barriers, or just those negotiated by Reoublicans? Want to return to Smoot- Hawley days do you??
The "fake service economy" was the creation of decades, and heartily supported by partisans of both parties. (and by the way, generated trillions in revenue, just not enough to keep up with government spending) Post- industrial Koolaide was drunk by both parties, and both parties are owned by K Street...it is a revolving door, my friend, and to work under the illusion that Democrats do not immediately head to that gilded street after leaving office is to truly be delusional.
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
The last 8 years with the Republican administration and a Republican majority in both the House and Senate at one time has resulted in exploding record trade deficits, exploding record federal deficits, wars that could be fought more cheaply and effectively, where are the Iraqi WMD? Forever devoted biased Republicans. Gotta love 'em.
The last 8 years with the Republican administration and a Republican majority in both the House and Senate at one time has resulted in exploding record trade deficits, exploding record federal deficits, wars that could be fought more cheaply and effectively, where are the Iraqi WMD? Forever devoted biased Republicans. Gotta love 'em.
I read something interesting the other day . . . if C, BAC and JPM were to all go to $0 . . . the DOW would only move down about 250-300 points.
So wouldn't this lead people to believe that we might be somewhere near a bottom now? Or at least approaching one? Seems the Banks are the ones who are always dragging everyone else down. How much more damage can they do now?
Perhaps if retail goes in the crapper this will have an impact in the next few quarters. But I found that interesting.
I read something interesting the other day . . . if C, BAC and JPM were to all go to $0 . . . the DOW would only move down about 250-300 points.
So wouldn't this lead people to believe that we might be somewhere near a bottom now? Or at least approaching one? Seems the Banks are the ones who are always dragging everyone else down. How much more damage can they do now?
Perhaps if retail goes in the crapper this will have an impact in the next few quarters. But I found that interesting.
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
Who wouldn't have a good time in office when you are president during the internet bubble. Yeah times were great then. You buy a stock and you were guaranteed it was going up.
Nasdaq went from 800-5200 during Clinton rule and it wasn't because of Clinton. Times would have been great under Bush too if he had gotten out of office in 2006 instead of 2008.
Quote Originally Posted by july4433:
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
Who wouldn't have a good time in office when you are president during the internet bubble. Yeah times were great then. You buy a stock and you were guaranteed it was going up.
Nasdaq went from 800-5200 during Clinton rule and it wasn't because of Clinton. Times would have been great under Bush too if he had gotten out of office in 2006 instead of 2008.
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
You really need to save such sloganeering for the next party meeting.
And even in that meeting you may wish to keep your frankly loony toon analogies (Third Reich?? Please! ) to yourself or to the fellow mouth breathers in the corner of the hall.
Mrs. Clinton admitted NAFTA a mistake? How noble of her to get religion during a campaign!! Did she throw down a shot afterward in a show of solidarity with Joe Lunchbucket?? LMAO.
Oh, and by the way, those bad guy Chinese and Indians are going to KEEP competing for your jobs and your standard of living, and they are doing a fairly good job of eating your lunch too. Sorry, but they are not going away any time soon, and I don't care how many handouts you want to keep throwing at poorly run companies like GM ...sheesh.
Quote Originally Posted by july4433:
I remember the Clinton years were quite good on my job wages, pocketbook, house price, etc. What are there about 150 million Mexicans for Americans to compete with in wages, retirement, healthcare, etc? Hillary admitted that NAFTA was a mistake. How many billions of Chinese, Indians, etc. are there competing with American wages, healthcare, retirements, etc. from the Bush trade deals? The numbers aren't even comparable, just like the banks take from the government compared to the relatively measly GM loan that you Republicans always have to mention. All the Republicans can argue now is that it wasn't just the Republicans fault, even though the Republicans had the Presidency and administration over the last 8 years when all of this shit changed and happened. Biased, anti-labor union (just like the communists, Third Reich, dictatorships, etc.), Republicans. Gotta love 'em.
You really need to save such sloganeering for the next party meeting.
And even in that meeting you may wish to keep your frankly loony toon analogies (Third Reich?? Please! ) to yourself or to the fellow mouth breathers in the corner of the hall.
Mrs. Clinton admitted NAFTA a mistake? How noble of her to get religion during a campaign!! Did she throw down a shot afterward in a show of solidarity with Joe Lunchbucket?? LMAO.
Oh, and by the way, those bad guy Chinese and Indians are going to KEEP competing for your jobs and your standard of living, and they are doing a fairly good job of eating your lunch too. Sorry, but they are not going away any time soon, and I don't care how many handouts you want to keep throwing at poorly run companies like GM ...sheesh.
The problem isn't really whether C stock goes to zero. Isn't that a for drawn conclusion at this point? The problem is more about how far will the balance sheet with 40 to 1 leverage keep falling? Yeah, the Chinese communists are doing better than we are thanks to the Republicans and Bush Jr. Bush Jr. still hasn't found religion and admitted any trade agreement, war, etc. mistakes. Forever loyal, biased, and devoted anti-union (just like the communists) Republicans. You gotta love 'em.
The problem isn't really whether C stock goes to zero. Isn't that a for drawn conclusion at this point? The problem is more about how far will the balance sheet with 40 to 1 leverage keep falling? Yeah, the Chinese communists are doing better than we are thanks to the Republicans and Bush Jr. Bush Jr. still hasn't found religion and admitted any trade agreement, war, etc. mistakes. Forever loyal, biased, and devoted anti-union (just like the communists) Republicans. You gotta love 'em.
Hitler outlawed all labor unions in Germany shortly after instituting his total dictatorship. Why was it so important for Hitler to immediately outlaw all labor unions in Germany my fellow Republican? Please, study up on your history my fellow Republican.
Hitler outlawed all labor unions in Germany shortly after instituting his total dictatorship. Why was it so important for Hitler to immediately outlaw all labor unions in Germany my fellow Republican? Please, study up on your history my fellow Republican.
Vermeer, on a lighter note, you definitely have one of the coolest avatars on Covers. It's so XXX dirty (every man's fantasy), yet so PG rated. hehe : ) We should still all be glad that we have the freedom to debate openly on the web in the USA, unlike many other countries around the world.
Vermeer, on a lighter note, you definitely have one of the coolest avatars on Covers. It's so XXX dirty (every man's fantasy), yet so PG rated. hehe : ) We should still all be glad that we have the freedom to debate openly on the web in the USA, unlike many other countries around the world.
I read something interesting the other day . . . if C, BAC and JPM were to all go to $0 . . . the DOW would only move down about 250-300 points.
So wouldn't this lead people to believe that we might be somewhere near a bottom now? Or at least approaching one? Seems the Banks are the ones who are always dragging everyone else down. How much more damage can they do now?
Perhaps if retail goes in the crapper this will have an impact in the next few quarters. But I found that interesting.
Well done. Good points on the effects of the banks on the Dow.
The Dow "might" be in the process of completing a bottom, but only so long as commercial real estate doesn't go caput.
Quote Originally Posted by VirginiaHoldem2:
I read something interesting the other day . . . if C, BAC and JPM were to all go to $0 . . . the DOW would only move down about 250-300 points.
So wouldn't this lead people to believe that we might be somewhere near a bottom now? Or at least approaching one? Seems the Banks are the ones who are always dragging everyone else down. How much more damage can they do now?
Perhaps if retail goes in the crapper this will have an impact in the next few quarters. But I found that interesting.
Well done. Good points on the effects of the banks on the Dow.
The Dow "might" be in the process of completing a bottom, but only so long as commercial real estate doesn't go caput.
I read your piece on SKF, and once again, I congratulate you on making money off it.
And you're right, Obama, Bernanke and Geithnner (sp) can jawbone the banks up in the short term, but long term, they are basically going to be nothing but nationalized tools of our wonderful government that is here to serve the people (LMFAO).
What's even more scary than the hideous mess we're in now is the not too distant future-----like 2014ish when inflation has run amok, oil is 800 bucks a barrel, social security has been declared caput, all IRAs and 401s are caput, there are riots in the street, the climate has gone haywire (no food), and we as a country are merged with Mexico and Canada to become the United Socialist States of America (USSA).
I am currently preparing for this day and have no plans to do otherwise.
To put it bluntly, as Al Pacino in Devil's Advocate said, "buy futures, sell futures, there is no future."
Vermeer-
I read your piece on SKF, and once again, I congratulate you on making money off it.
And you're right, Obama, Bernanke and Geithnner (sp) can jawbone the banks up in the short term, but long term, they are basically going to be nothing but nationalized tools of our wonderful government that is here to serve the people (LMFAO).
What's even more scary than the hideous mess we're in now is the not too distant future-----like 2014ish when inflation has run amok, oil is 800 bucks a barrel, social security has been declared caput, all IRAs and 401s are caput, there are riots in the street, the climate has gone haywire (no food), and we as a country are merged with Mexico and Canada to become the United Socialist States of America (USSA).
I am currently preparing for this day and have no plans to do otherwise.
To put it bluntly, as Al Pacino in Devil's Advocate said, "buy futures, sell futures, there is no future."
Vermeer, on a lighter note, you definitely have one of the coolest avatars on Covers. It's so XXX dirty (every man's fantasy), yet so PG rated. hehe : ) We should still all be glad that we have the freedom to debate openly on the web in the USA, unlike many other countries around the world.
As to the avatar, gotta love the creep photog who was on the spot with a telephoto....
And yes, you are right, we are very lucky to be in a country that can countenance debate. In most countries, such stuff is deemed deeply subversive and can cost you your coconut... or even worse, just your balls....in any case, I enjoy debate, it is imperative to consider the other point of view, and make up one's own mind, in any case.No one party or person owns the copyright of the truth...
Quote Originally Posted by july4433:
Vermeer, on a lighter note, you definitely have one of the coolest avatars on Covers. It's so XXX dirty (every man's fantasy), yet so PG rated. hehe : ) We should still all be glad that we have the freedom to debate openly on the web in the USA, unlike many other countries around the world.
As to the avatar, gotta love the creep photog who was on the spot with a telephoto....
And yes, you are right, we are very lucky to be in a country that can countenance debate. In most countries, such stuff is deemed deeply subversive and can cost you your coconut... or even worse, just your balls....in any case, I enjoy debate, it is imperative to consider the other point of view, and make up one's own mind, in any case.No one party or person owns the copyright of the truth...
Hitler outlawed all labor unions in Germany shortly after instituting his total dictatorship. Why was it so important for Hitler to immediately outlaw all labor unions in Germany my fellow Republican? Please, study up on your history my fellow Republican.
Thanks, but I am quite familiar with the social and political policies of Nazi Germany. and frankly, it is axiomatic that anyone in a debate loses when they resort to the Adolph Hitler comparison. It is louche.
Quote Originally Posted by july4433:
Hitler outlawed all labor unions in Germany shortly after instituting his total dictatorship. Why was it so important for Hitler to immediately outlaw all labor unions in Germany my fellow Republican? Please, study up on your history my fellow Republican.
Thanks, but I am quite familiar with the social and political policies of Nazi Germany. and frankly, it is axiomatic that anyone in a debate loses when they resort to the Adolph Hitler comparison. It is louche.
1. The economy is and will continue to be in a major contraction.
2. The stimulus bill, as presently written, is a pathetic joke. So much for change as presented by Washington and Chicago pols...but not really a surprise, to anyone who knows anything about either area.
3. We remain in a bear market. We will continue to remain there.
4. "In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be-up or down. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction." Reminiscences of a Stock Operator
1. The economy is and will continue to be in a major contraction.
2. The stimulus bill, as presently written, is a pathetic joke. So much for change as presented by Washington and Chicago pols...but not really a surprise, to anyone who knows anything about either area.
3. We remain in a bear market. We will continue to remain there.
4. "In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be-up or down. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction." Reminiscences of a Stock Operator
I read your piece on SKF, and once again, I congratulate you on making money off it.
And you're right, Obama, Bernanke and Geithnner (sp) can jawbone the banks up in the short term, but long term, they are basically going to be nothing but nationalized tools of our wonderful government that is here to serve the people (LMFAO).
What's even more scary than the hideous mess we're in now is the not too distant future-----like 2014ish when inflation has run amok, oil is 800 bucks a barrel, social security has been declared caput, all IRAs and 401s are caput, there are riots in the street, the climate has gone haywire (no food), and we as a country are merged with Mexico and Canada to become the United Socialist States of America (USSA).
I am currently preparing for this day and have no plans to do otherwise.
To put it bluntly, as Al Pacino in Devil's Advocate said, "buy futures, sell futures, there is no future."
Clay Court, I like you and I think we see the world the same; Do you care to elaborate?
Quote Originally Posted by claycourtlesson:
Vermeer-
I read your piece on SKF, and once again, I congratulate you on making money off it.
And you're right, Obama, Bernanke and Geithnner (sp) can jawbone the banks up in the short term, but long term, they are basically going to be nothing but nationalized tools of our wonderful government that is here to serve the people (LMFAO).
What's even more scary than the hideous mess we're in now is the not too distant future-----like 2014ish when inflation has run amok, oil is 800 bucks a barrel, social security has been declared caput, all IRAs and 401s are caput, there are riots in the street, the climate has gone haywire (no food), and we as a country are merged with Mexico and Canada to become the United Socialist States of America (USSA).
I am currently preparing for this day and have no plans to do otherwise.
To put it bluntly, as Al Pacino in Devil's Advocate said, "buy futures, sell futures, there is no future."
Clay Court, I like you and I think we see the world the same; Do you care to elaborate?
In the next bull market that will begin after the next market meltdown, it is time to "gather ye rosebuds while ye may."
Take whatever money you make on this next bull run and buy as much fertile land with water as possible. Build a bunker that you can heat in the winter, keep dry in wet weather, and can cool in the summer. Grow your own food, make your own clothes. Start right now stockpiling as many weapons and ammo as possible. If possible, surround yourself with like-minded people cause there is safety in numbers (but this is dicey, cause most people will fcku you over first chance they get).
Liquidate 401s and IRAs and pension plans and stock option plans-----whatever you need to finance self-sufficiency.
Forget social security. If you're paying it out of your own pocket, stop at once, cause you ain't ever going to see that shheet.
Expect hyperinflation....worse than you can imagine beginning sometime in late 2009.
The next recession that begins aroud 2014 will make this last one we're coming out of look like Mary Poppins.
2014 will be the end of the world as you know it.
You got about 5-6 years to prepare.
Yeah, I can elaborate.
In the next bull market that will begin after the next market meltdown, it is time to "gather ye rosebuds while ye may."
Take whatever money you make on this next bull run and buy as much fertile land with water as possible. Build a bunker that you can heat in the winter, keep dry in wet weather, and can cool in the summer. Grow your own food, make your own clothes. Start right now stockpiling as many weapons and ammo as possible. If possible, surround yourself with like-minded people cause there is safety in numbers (but this is dicey, cause most people will fcku you over first chance they get).
Liquidate 401s and IRAs and pension plans and stock option plans-----whatever you need to finance self-sufficiency.
Forget social security. If you're paying it out of your own pocket, stop at once, cause you ain't ever going to see that shheet.
Expect hyperinflation....worse than you can imagine beginning sometime in late 2009.
The next recession that begins aroud 2014 will make this last one we're coming out of look like Mary Poppins.
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