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Looked it up.........................it's on page 8 of that "folly of raising the debt ceiling thread" for those who would like to read it or for anyone who knows how to send it to this thread as that is beyond my limited abilities.
By the end of 2012 there will no longer be a dollar. The United States will have went through months of chaos, anarchy, and riots and will be restructuring into smaller, balkanized governments. The most valued items to trade will be commodities, most preferably gold. We might even go back to a bartering system in some areas.
I love your predictions What was the last one again? Oh, yeah ... oil at $200 by July 4th past
$200? That's nothing, remember he once had this gem about 2011 oil prices:
Quote:
Originally Posted by bchris02
I'll be surprised if we don't top $140 by the end of today, and $150 by midweek. $200 by mid-July, and $300-$400 by year end, $500 in 2009, $1000 in 2010-2011.
And of course his brilliant theories on Q1:
Quote:
Originally Posted by bchris02
The Dow will fall below 5,000, maybe even 1,000 before the end of Q1 2011. When Wikileaks releases the documents on Bank of America, that will be the end of our nation as we have known it. So much of our economy is dependent on that bank, and when it collapses, so does our national economy. This is going to make the collapse of Lehman in 2008 look like a cakewalk. Prepare for 30-40% unemployment. It will not surprise me if martial law has to be declared.
By the end of 2012 there will no longer be a dollar. The United States will have went through months of chaos, anarchy, and riots and will be restructuring into smaller, balkanized governments. The most valued items to trade will be commodities, most preferably gold. We might even go back to a bartering system in some areas.
The Dunning-Kruger effect occurs when incompetent people not only fail to realise their incompetence, but consider themselves much more competent than everyone else. Basically - they're too stupid to know that they're stupid.
OK, so I keep hearing that the budget needs to be addressed ASAP and the debt ceiling raised (or debt reduced) by the beginning of August... what happens if they (the bickering politicians) don't come to an agreement?
I am worried because I have quite a bit of money in my bank account and am worried that all that of it would become useless. What's a boy to do? I am going back to grad school, so I was going to use that money to live comfortably for the next 2 or 3 years.
No. The US Dollar cannot collapse because there will always be a demand for it. In order to participate in our $15 Trillion economy, in order to access our 308 million residents, and in order to invest in our liquid and secure stock and capital markets, you need dollars. That doesn't mean its value isn't being eroded away.
No. The US Dollar cannot collapse because there will always be a demand for it. In order to participate in our $15 Trillion economy, in order to access our 308 million residents, and in order to invest in our liquid and secure stock and capital markets, you need dollars. That doesn't mean its value isn't being eroded away.
I had to laugh at the secure stock and capital markets...
No. The US Dollar cannot collapse because there will always be a demand for it. In order to participate in our $15 Trillion economy, in order to access our 308 million residents, and in order to invest in our liquid and secure stock and capital markets, you need dollars. That doesn't mean its value isn't being eroded away.
Now that part's NOT true.
Spain was once the world powerhouse
So was England (The Sun never sets on the british empire)
Our turn to fall will come.
HOWEVER:
So long as we have the 'big stick' of the US military (Team America, World police)
AND there is no other currency which can replace us on the worldwide scale (Which you mentioned)
We are relatively safe.
WHEN (Not if) that day comes...
We will be at BEST a 2nd place power overnight.
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