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Is the U.S. economy getting ready to crash ? What do you think ?
massive deflation followed by hyperinflation
Cash becomes king for a small amount of time (now perhaps?), then as people are literally starving on the streets, the gobbermint starts on its endless physical printing of money to dole out, marking a Newer Deal that'll make the dollar worth toilet paper. Probably worse than toilet paper because it's got that sandpaper feel
All prices will crash in relationship to real money (gold). You will be able to get an extraordinary amount of house in exchange for selling a much smaller amount of the mellow yellow (or silver).
The government will of course step in nationalizing farmland and try to seize gold. They will succeed with the former but the latter will fail miserably. Who would tell the government they have gold? Plus I've never known a gold sniffing dog
Oh yeah, I forgot about the trillions of dollars held by foreigners that'll be spent and recirculated, driving prices of basic necessities to Pluto.
Cash becomes king for a small amount of time (now perhaps?), then as people are literally starving on the streets, the gobbermint starts on its endless physical printing of money to dole out, marking a Newer Deal that'll make the dollar worth toilet paper. Probably worse than toilet paper because it's got that sandpaper feel
All prices will crash in relationship to real money (gold). You will be able to get an extraordinary amount of house in exchange for selling a much smaller amount of the mellow yellow (or silver).
The government will of course step in nationalizing farmland and try to seize gold. They will succeed with the former but the latter will fail miserably. Who would tell the government they have gold? Plus I've never known a gold sniffing dog
Oh yeah, I forgot about the trillions of dollars held by foreigners that'll be spent and recirculated, driving prices of basic necessities to Pluto.
Yes! The sky is falling! Then we'll be in concentration camps! New World Order! Ahhhhh!!!!
I think that the people who hoarded gold at nearly $1,000 per ounce are currently crapping their pants, either that or they or they own shares in a metal detector manufacturing company.
Is the U.S. economy getting ready to crash ? What do you think ?
Yup...looks like a depression is just around the corner. Oil is dropping like a stone, the dollar is hitting 2 year highs against the GBP, and gaining against the Euro and Canadian dollar. Looks like signs of a global meltdown.
"NEW YORK 8/15/08 - The dollar climbed against the euro and pound Friday amid hopeful signals on the U.S. economy and falling oil prices"
On a serious note, inflation hit a 17 year high, but as the fed raises the funds rate, you will see the dollar pick up more steam, and more investment will move back to the US and the dollar. That will be good for the economy in the short term and as oil drops inflation will ease. Inflation dropping and lower energy costs will be good for consumers, who will have a stronger dollar on their side.
Yes! The sky is falling! Then we'll be in concentration camps! New World Order! Ahhhhh!!!!
Whoa, relax there sparky. No need to get out your tin foil hat. The world isn't going to end. Nowhere close. It'll just feel that way for most Americans. Did I suffer from dot bomb? Not a single bit. Do I suffer from the real estate ponzi scheme collapsing? Quite the contrary with my shorting CMOs, Beazer stock and financials and buying commodities and gold years back. Now, what about some ******* who bought a house in Sunny CA just 2 years ago? Kind of feels like the sky is falling for them, don't it?
See, it's all a matter of perspective.
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