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Old 12-29-2009, 02:25 AM
 
2,173 posts, read 2,621,712 times
Reputation: 880

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Fairfield County Weekly: News - We're Screwed!

Quote:
What can we do to avoid hyperinflation? What if we just shut down the Fed or something like that?

We can't. The actions have already been taken to put us in it. It's beyond control. The government does put out financial statements usually in December using generally accepted accounting principles, where unfunded liabilities like Medicare and Social Security are included in the same way as corporations account for their employee pension liabilities. And in 2008, for example, the one-year deficit was $5.1 trillion dollars. And that's instead of the $450 billion, plus or minus, that was officially reported.
Shadow Government Statistics - Home Page
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Old 12-29-2009, 02:53 AM
 
Location: Lafayette, Louisiana
14,089 posts, read 25,063,754 times
Reputation: 8016
and yet congress and the white house want to dictate and lecture to private businesses.
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Old 12-29-2009, 03:20 AM
 
77 posts, read 162,131 times
Reputation: 50
Buy gold and Silver this is what you do! Get out of dollar assets!
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Old 12-29-2009, 03:53 AM
 
Location: By the sea, by the sea, by the beautiful sea
64,275 posts, read 45,611,975 times
Reputation: 34676
OH NO! That damn sky's falling again
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Old 12-29-2009, 04:58 AM
 
Location: Sango, TN
24,874 posts, read 22,190,660 times
Reputation: 8654
What I don't get, is that inflation is bad, and deflation is supposed to be bad.

Why the hell does everything have to stay the same all the time? I understand that inflation is bad. It means that your money is worth less. Deflation means that your money is more. Things cost less, therefore if you're making money, it seems to me you'd like deflation.

Of course, I see the issue is the national debt. If deflation occurred, the national debt would look worse. With inflation, the debt doesn't look so bad.
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Old 12-29-2009, 06:47 AM
 
Location: Fredericktown,Ohio
7,143 posts, read 4,776,381 times
Reputation: 2884
Quote:
Originally Posted by HamlinandLyndale View Post
Buy gold and Silver this is what you do! Get out of dollar assets!
I agree and I wish I could have bought more.Another is land or housing which I call erroneously "hard assets",hey you can put your feet on it
If you keep your eye on HUD property and house auctions you can literally steal them.I am living in a HUD property that they listed for 96,000 and made a bid for 54,000 and they accepted.The last appraisal was at 84,000 so we have wiggle room for a emergency like needing a roof.
On top of that we qualify for first time home buyers and our broke ass gvt is handing us $5,400 this year.
So gold,silver and property and throw in a few chickens and you are better off then you would be in a manipulated stock market and you spent your USD before it was devalued.
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Old 12-29-2009, 10:32 AM
 
1,317 posts, read 1,284,154 times
Reputation: 286
Sorta like the '80s? Who was President in the '80s anyway? Done forgot.
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Old 12-29-2009, 10:38 AM
 
2,325 posts, read 6,569,913 times
Reputation: 1032
Buying gold has long been a hedge against everything else going down the drain; however, it can also fall so it would be best to put your money in gold, real estate and cash.

Inflation is great for people who are making house payments, the monthly payment keeps falling, interest rates keep going up but wonderful if you have cash; I remember 15% interest back in the 70's on a CD.

Gold is a problem, where do you keep it safe? In a vault? What if you can't get to it; if you keep it at home what if you are robbed?

Nothing is perfect, especially real estate; prices are low but property taxes are exceptionally high.
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Old 12-29-2009, 01:29 PM
 
Location: NC
10,002 posts, read 9,471,635 times
Reputation: 3075
As someone who is cash poor and about to take on a fair amount of low interest debt...I hope the OP is right.
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