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I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
Riot speculation aside, your buddy is correct. The US debt is being monitized which means you are losing puchasing power with your paper notes we commonly use as dollars. When you look at the comoddities markets of gold and silver it is not that their value has gone up when you see the price rise; rather, it is a measure of how much value the US dollar has lost in purchasing power.
Watch the financial stations like CNBC and read financial publications and it will scare the beejeesus out of you what others are predicting for the US dollar. Do you recall in history class how the confederate dollar post civil war was so worthless they used it to paper walls and start fires? This could become the fate of the US dollar in the next few years if the negative predictions are correct.
When it comes to the financial crisis we are seeing the symptoms of the sickness through the volitile markets which are algorithmic anomolies. The complete lack of leadership in Washington and also in Europe in dealing with the economic meltdown of the industrialized West makes predicting the economic future near term uncertain at best. Thus, the flight to precious metals and equities (global stocks of corporations with little or no debt and heavy cash balances).
So, if you know you will be having to buy food anyway, you may as well put together a pantry to stock up for several months supply or longer. Recall how quickly shelves were cleared during Hurricane Katrina. Once the disaster hits it will be too late to prepare and store shelves will last 48 hrs. orless.
This "stocking up" can be done bit by bit as items you normally consume go on sale. When you use one item replace it with two. If you know you will need a coat or winter boots try to find them on sale now rather than waiting until winter. Inflation via the devaluation of our currency is a fact. Don't waste you money on things you will never use but be thrifty in aquiring what you need. It is most important to be able to prioritize and differentiate "needs" from "wants".
There is a sub forum here on CD which addresses preparedness and self-sufficiency. You will find useful information there.
I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
I'm not saying it couldn't happen, but I am having trouble envisioning a scenario that leads to rioting. It seems to me that life is pretty good for almost everyone with a job and almost everyone who's retired. There's 14 million unemployed, but they're not making a peep so far. College students are apparently well enough off to pay $20K tuition ans still afford iphones, ipods and ipads. Maybe another crash would spark rioting, but the first one didn't so I'm not sure what would be different the next time...
The middle class doesn't riot. It's the welfare classes that will riot and for them it doesn't take much. Rioting is a relief from the boredom that laying around doing nothing all your life causes. What sets them off might just be cutting off the cable television.
People only listen and change only happens when "your problems become their problems". The writing is on the wall. Its up to the individual if they choose to see it or not. It will happen here soon, its designed to do so.
It's hard to envision the same group of people who are currently driving their beer-laden boats from their air conditioned houses over to the lake for the weekend as 'suffering masses ready to riot.'
I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
When the time comes to use silver as cash , I think it will be due to bad planning by the Fed and Treasury , a mistake . It will not last more than a few months . We grow food in almost every state , most people know how and you could grow food inside . Stocking the silver and food is good advice but I don't see a riot.
If we are talking about the "poor" , they riot when the home team wins a ballgame . If distributors don't want to bring candy into bad neighborhoods , it could set them off .
When Obama looses the urban dwellers and unions will gather to riot like ...like... urban dwellers and unions.
Thank God I'm rural .
Its a better plan to move away from the cities .
I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
Quote:
Chambers noted that, according to the International Monetary Fund, the U.S. government would have to come up with savings of about 7.5 percent of its gross domestic product to actually stabilize its debt-to-GDP ratio.
S&P: Deficit cuts of $4 trillion a good start - Yahoo! News (http://news.yahoo.com/p-u-deficit-cuts-4-trillion-good-downpayment-174600124.html - broken link)
That is $1.125 trillion dollars per year that needs to be cut.
I have a buddy of mine constantly telling me to buy silver and stock up on supplies as he claims the economy will collapse even harder in 2012 with riots beginning as gas hits 6 dollars a gallon.
What are your thoughts on how much more the middle class/poor society take before we have riots like the other countries?
Look at the "western" countries and see if it looks like they're at a tipping point?
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