07/21/12 at 1:36 pm #16789
I think we are going to see something interesting very soon. Iran will be banned from using SWIFT http://www.swift.com/ to get paid for their oil from most countries (almost all oil is traded in dollars and we control them). They claim to have set up another method.
This all happens very soon, Russia has stated they will defend Iran and Syria from aggression, we recently overthrew Quadaffi in Libya, and we are destabilizing Syria and next is Iran. Mr Obama has been spending A BUNCH OF MONEY on his little quiet wars.
So now Russia is arming Syria. http://www.capradio.org/news/npr/story?storyid=154857860 and has pledged to defend Iran.http://www.therightscoop.com/russia-ready-to-defend-iran-and-syria/
While this all sounds very Nostradamas or Mayan 2012, my answer is simple, prepare for something to happen, because it is. And the U.S. will be a worse place to live (even if we win).
I’m sure you have seen the rise in violence in Syria in the news. We are backing the rebels via Saudi Arabia, and Russia is backing the current government. Russia will not lose this fight, Syria has the only port in the Med that the Russians have access to. This will not change. Obama is trying to WAG THE DOG here. He is going into Syria then Iran to keep our eyes off the fiscal cliff, budget deficit,and the federal debt.
As it stands, Turkey, India, and China are using gold to buy iranian oil, this bypasses the ‘economic sanctions’ that Obama put on Iran. This move bypasses SWIFT and makes our dollar less desireable. China also announced this week,
China, the largest consumer and now the largest producer of gold in the world, has aspirations to become a major gold trading center on a par with London and New York.
China has proposed to broaden trading of precious metals in its local market in order to help China become a “major gold trading centre”, reports The Wall Street Journal.
“A person involved with the matter” revealed China’s ambitious plans to the WSJ, saying that “the move could increase liquidity and help Beijing gain stronger pricing power for key commodities like gold”.
China is the fifth largest holder of gold reserves in the world after the U.S., Germany, France, and Italy.
Chinese officials say China hopes to have gold reserves as large as the U.S. in order to help position the yuan as a global reserve currency.<
This is the big problem. Their plan is to run the worlds money with a currency of their choosing that is based in gold, not dollars. The stability and fairness of gold will draw in every country with a positive trade balance so they don’t get stuck with worthless fiat currencies like the euro and dollar.07/27/12 at 7:31 am #17229
Yesterday Mario Drahgi said the ECB would do whatever it took to save the euro. This means printing money. Monday the Wall Street Journal reported that the FED said that printing money was immimant.
Think of a savings account and the power of compound interest (if you don’t know what this is, PLEASE look it up). When the interest from each year before becomes a larger and larger piece of the total, the curve moves up FASTER (think of your powerband, you accellerate faster faster).
You can see that compounding interest can be an amazing way to gather wealth. This curve will eventually approach vertical, which is good if it is your curve. Well, this works in reverse too. A deficit or debt accout grows the WRONG way in the same manner.
Note the accelleration of the debt, that accelleration is the cost of the interest on last years accumulated debt plus new debt.
Have you wondered why your savings account don’t give you interest? It is because the Federal Reserve has printed money each month to push the interest rates down because if interest rates were higher, they couldn;t pay for the interest in a very short time.
Have you wondered why your savings account don’t give you interest? It is because the Federal Reserve has printed money each month to manipulate the interest rates down because if interest rates were higher, they couldn;t pay for the interest in a very short time.
Why is this bad? because we import $50 billion in goods every month, if other countries lose complete faith in our ability to finance our debt, these goods will cost more and more and make the problems worse. Even worse, no other country will loan us money therefore the FED will have to and this creates more debt by the government.
The end game will look a lot like Greece. It is very very important to have a plan and to begin executing that plan soon.07/31/12 at 11:11 am #17536
Say goodbye to “Made in China.” Motley fool just released this little segment. After listening to ~30 seconds, it was quite clear that they were talking about 3-D printers. Something I’ve had my eyes on for the past couple years. You have different iterations, one being the consumer version from http://www.makerbot.com or the techie versions that require you to jump a few more hoops (Reprap and Mendel).07/31/12 at 3:32 pm #17542
Soon they’ll say ‘made by woo’. I hate to say it, but if you want people to think it was made in the USA, you may have to change your name to Mike Smith.07/31/12 at 9:06 pm #1754808/10/12 at 12:59 pm #1810808/10/12 at 1:35 pm #18109
Ours is a society that is quickly becoming unstable. This program is there to help keep this scam going. To me, this is another indication that our end is near.08/11/12 at 4:49 am #18123
cbrclassicRegistered MemberRideCBR RegularPoints: 4,920
All of the above :-) ……
08/11/12 at 4:52 am #18124
cbrclassicRegistered MemberRideCBR RegularPoints: 4,920
I think we should all still try to be
:-)08/21/12 at 9:12 am #18639
So… I just got back from Cancun and what I noticed was the number of Russians. The last time I was there it was 99% Americans, now, I’d say 30% American (USA, Canada), 15% Russian, 10% Asian and the rest are Central/south American. Even the local knew a little Russian.
What is happening here is we cannot afford to go on vacation, but The rest of the world can, and if you think about how far asia and russia are from Cancun, well…. you get the picture.
The point I am getting to is that when I was in Italy in May, there were only a few Americans, now Cancun (which cost 85% LESS than Italy) was losing American tourists.
These are leading indicators of how bad our economy will get from here. Things suck now, but the really bad part is to follow and my best guess it will last 1/2 of a generation.
Don’t buy anything you don’t need. All you need is food and gold.
Good luck.08/30/12 at 5:39 pm #19049
From our friends at the Wall Street Journal.
The realization that America’s system of fiat money is part of its economic problem is moving from the fringes of political discussion to the center.
A gold standard won’t happen unless we have complete collapse and near anarchy, but considering that we are now in $16 trillion in debt (plus another probably $60 trillion in other liabilities), collapse is just a matter of time.08/31/12 at 2:06 pm #19130
Britian is beginning their implosion. We won’t be far behind.
While very few of us are considered wealthy, this move being contemplated shows how bad things are gettng in the western world. Make no mistake, collapse is going to happen, it may be orderly, but you will not like it.
Deputy Prime Minster Nick Clegg, leader of the Liberal-Democrat Party, has proposed a one-time tax on the wealth (rather than the incomes) of high-net-worth Britons. The details aren’t clear, but Clegg says the country is facing an economic war caused by a prolonged recession, and needs to tax the rich in order to avoid social unrest.09/04/12 at 5:13 pm #19394
46 million people on food stamps.
$16 trillion in debt plus many many times that in ‘unfunded liabilities’.
What have you done today to prepare for the collapse.09/05/12 at 2:48 am #19404
I watched part of the DNC speeches tonight and they kept talking about creating jobs. I was confused at first because they keep trying to add more taxes to the cost of doing business and I was always taught that you needed to be able to make a profit if you wanted to expand or in many cases, just continue to do business. Then I thought, well, maybe they just want to create government related jobs! That goes right along with the socialist agenda. But then I realized that eventually we wont be able borrow anymore money to support these jobs because nobody is going to loan us money when we cant repay them! Thats when it hit me!!! The democrats have access to fairy dust! They are going to supply all our needs with fairy dust and nobody will ever have to work again! We can all live in the liberal eutopia free of work, responsibility or any hardship! Thank you democrats! Fairy dust to the rescue!09/05/12 at 8:30 am #19412
I watched part of the DNC speeches tonight and they kept talking about creating jobs. I was confused at first because they keep trying to add more taxes to the cost of doing business and I was always taught that you needed to be able to make a profit if you wanted to expand or in many cases, just continue to do business. Then I thought, well, maybe they just want to create government related jobs! That goes right along with the socialist agenda. But then I realized that eventually we wont be able borrow anymore money to support these jobs because nobody is going to loan us money when we cant repay them! Thats when it hit me!!! The democrats have access to fairy dust! They are going to supply all our needs with fairy dust and nobody will ever have to work again! We can all live in the liberal eutopia free of work, responsibility or any hardship! Thank you democrats! Fairy dust to the rescue!
Without being political, because that only leads to arguements, it is always important to ask yourself ‘does this make sense?’ This weekend I looked into the whole terrible Holocost progression, nothing made sense (knowing Germans are very, very smart people) until I read something that involved a mix of political/banking/manufacturing situation that went back to WW ONE, after that I could see the path that was exploited and then of course the horrible events happened. But I digress..
When I listen to politicians, I ask myself if ‘do they have a vision, and a VIABLE plan to get there’. We all have dreams, but do we have a workable plan to get there.
It seems like each political party has fairy dust because they never, ever say we must endure some real pain to get through this situation of low employment, falling tax revenues and worst of all a lack of confidence in the system. I have lost faith in the system because I can not fathom a path to prosperity from where we are to where we are going. @Rod, you seemed to come to the same conclusion. If you really start looking into this, you may really become confused as to how did we get here? How can we get out, in the end I think you will realize that collapse (whether it is quick or slow) is either happening or will happen in a very short time.
I was always taught that you needed to be able to make a profit if you wanted to expand or in many cases, just continue to do business.
I’m not sure of your age or education, but you are on the right track here, it is insane what we are doing to ourselves (and have been since the mid 60’s). If you get the chance look up things like trade balance, budget deficit, U.S. debt, Unfunded liabilities, Austrian versus Keynsian economics and see if you believe that the government is doing right by you. I’m curious to hear what you think.
It isn’t a fun subject, but it will affect your life more than every superbowl, power commander map, or TV show you will ever see, download or record.09/05/12 at 9:33 am #19414
I’ve looked at about every angle. I’m 46 years old and I have been a fan of politics and economics since the 10th grade. I believe that we have the greatest system in the world. It would be better with a slight tweak. We have one area that has eroded the individuals ability to reap what he sows (profit from his labor). It is that simple freedom that has led to every modern convenience we have. Some guy pouring his life savings and tons of work into an idea because he knows it will pay off.
As we incur more debt, that ability is eroded. Our tax dollars go to loan payments and the government searches for new ways to tax, license or fine you for your activities just to generate more revenue.
So why do we over spend? Its natural for politicians to want to bring more back to their district than the district paid in, it makes for an easier re-election when federal dollars flow through a district and voters dont really care that the money was borrowed. It feels good today and thats all most people care about.
How are they able pass spending measures that only benefit one district? This is root of our problem. If my congressman has a spending idea for my district, he needs to convince your congressman and many others to vote for it. He does that by attaching more spending for your district to his in order to buy his support. this happens over and over until they get enough votes to pass it.
If we demanded congress only consider and vote on one subject at a time, only things that are of national importance would get passed. Yes it would drastically slow things down but thats exactly what is needed.
Short of making this change to the way congress works, we would have to elect people of principal, people who understand the dangers of overspending are dead set on stopping it. The Tea Party is a good start. I think we have 84 members now but I dont believe we will ever see a congress and senate with a majority of responsible member who put our nation before their own re-election. However, they are key to changing how congressional business is done.
I believe we can avoid economic collapse but it will require us lowering the corporate tax rate and streamlining lots of regulation. Our country has gone from “The only place in the world to do business” to “the place to avoid doing business if you want to make a profit”
other countries, especially Asian countries have decided to lure lure our business away with lower taxes, simple regulation and lower wages. While we all want high wages, decent wages is better than no wages and with modern manufacturing wages are a smaller percentage of cost than taxes and regulation. Wages can be negotiated after the business is lured back. We have to become known as business friendly. If we dont, Barrack Obama’s agenda of a socialist America will become reality and we will achieve what every socialist country in history has achieved; “Equal poverty for all”09/05/12 at 10:09 am #19416
@Rod , I like to go on Amazon and order used books, The last few I’ve read were Currency Wars by Jim Rickards, A bunch of Nouriel Roubini and Peter Schiff books. Maybe check a few out. I think the reason for socialism is that each person has a vote, so the more votes you can buy means the greater chance of election. If you have a society of businessmen, you get business friendy lawmakers, if you get people that need/want handouts, you get socialism. Of course some people just vote with their hearts and don’t need a handout or don’t have a business, but I think that number is shrinking.
I only have one vote so I vote once, but I know that we are going down a path that will not survive. All I can do is save myself and try and convince a few others of what I believe.09/05/12 at 11:49 am #19420
Dont get me wrong Fish, I’m not saying everything will be alright, just that we still have a chance. Over the last couple years, I too have learned how to can and store meats, vegetables and fruits. I’m not going to depend on a consensus of elected people to collectively do the right thing for my survival.09/05/12 at 1:03 pm #19424
I’m not saying everything will be alright, just that we still have a chance.
I think our chances are slim to none.
I have to learn how to live more off the land even though I don’t think it will be really needed. Things will just get more expensive. But My GF has 7 acres and I have been planting fruit trees and I actually just ordered peanut and sugar cane seeds. I need to figure out what grows where just so it’ll save me some food costs which I believe are up this year already AND NEXT YEAR WILL BE WORSE..09/06/12 at 3:51 pm #19474
Europe is now very close a recession, the UK has been in one.
But today the ECB said they were going to print money.
The U.S. will probably print next week or will announce that they have never stopped printing money.
The worry will be a loss of buying power with your dollar. Then a loss of confidence in the dollar. Then a slow orderly collapse. It is happening now (Inflation), but it will speed up because the way inflation is calculated is really a lie.
This 16 minute video will change the way you think. Wait until you hear the word Hedonics, it is hilarious.09/07/12 at 12:09 pm #19519
thebearded1Registered MemberRideCBR AddictPoints: 8,238
I rarely get involved in political or economics topics, becuse it’s usually above my paygrade and I don’t get it. Here recently, I have seriously considered moving out of the US. I love this country, and my brother, father, and grandfather all served in it’s military, but the current state of affairs here in the US is quite scary. I’ve looked at real estate the world over – Canada, Ireland, UK, Australia, even Mexico. I won’t share my Presidential views here to keep this thread civil. I do agree with the fall of an empire view, and I hope – for the sake of all us – that it’s wrong. But, I just can’t bring myself to hold out “hope” much longer.
Just my thoughts on it, hopefully I didn’t offend anyone.09/07/12 at 2:03 pm #19525
I see Canada and Australia as being ok simply because of their mining activities will support their currencies by giving them strong exports.
Edit:as a side note, Canada just kicked our Iranian diplomats and closed their embassy. Expect something exciting on CNN soone is my guess.09/10/12 at 8:57 am #19680
So by now I figure nobody reads this thread because it is so depressing… I get it. This next post is much happier.
Remember Bob Woodward, ‘All the Presidents men…Watergate’? He wrote this last week.
President Obama summoned the top four congressional leaders to the White House on Saturday morning, July 23, 2011.
“Mr. President,” Boehner challenged, “as I read the Constitution, the Congress writes the laws. You get to decide if you want to sign them.”
Around 10 p.m., Obama called Boehner, who was at dinner with friends.
I am not going to sign a bill that requires me to deal with the debt ceiling a second time before the election, the president told him. He was furious.
We’re too close to default to reopen the talks, Boehner said. Congress is going to move forward on its own.
Asked recently about Boehner’s description of their late-night call, Obama said, “Listen, anybody who knows me knows I don’t moan, I don’t groan, I don’t whine.” He laughed, “I’m not desperate. I was very angry about how he had behaved, and more concerning was the fact that we were now only a few days from there literally being $5 billion left in the Treasury for the United States government.”
Just $5 billion was about half a day’s worth of the federal government’s expenditures — closer to the wire than the public had been told.
The president told his senior staff that the call with Boehner had led nowhere.
“So we’ve got to figure out Plan B. Which is, how do we get out of this thing?” he said.
The problem was that they did not have a Plan B.
It was increasingly clear that no one was running Washington. That was trouble for everyone,
Reid began to lay out the two-step $2.7 -trillion debt limit extension
“Wait a second,” Obama said, interrupting someone else who was about to speak. “I can tell David has something else to say.”
“Mr. President, I am sorry — with all due respect — that we are in this situation that we’re in, but we got handed this football on Friday night. And I didn’t create this situation. The first thing that baffles me is, from my private-sector experience, the first rule that I’ve always been taught is to have a Plan B. And it is really disheartening that you, that this White House did not have a Plan B.”
Krone continued. “We’re supposed to be the ones that fend off an economic catastrophe.
They were out of options, Geithner said. The only one might be accepting the House bill, loathsome as it might be. “The 2008 financial crisis will be seen as a minor blip if we default,” he said.
The final plan accepted a debt limit increase that would take the country through the 2012 presidential contest. It also postponed $2.4 trillion in spending cuts until early 2013.
The long-term deficit crisis had not been solved, but merely put off, leaving the United States at the edge of the fiscal cliff, where it remains today.
Sorry that wasn’t happy at all. What they are saying here is whether Romney wins or Obama, we are in very big trouble. The only question is, who will get us out of the hole faster.09/10/12 at 9:47 am #19682
crashRegistered MemberRideCBR AddictPoints: 6,685
Its going to be a bad one!!09/10/12 at 11:34 am #19692
If it seems strange that things are scary, you have to look at who is advising the administration.
Vice President Joe Biden and John Corzine.
Remember John Corzine? MF Global CEO, the company that stole over a billion dollars in customer money because they made bad bets on Greek debt and then raided customer accounts to try and pay off their debt?
It all makes sense that we are broke.09/11/12 at 10:29 am #19766
Speaking of debt…
The United States may lose its triple-A debt rating if next year’s budget negotiations do not produce policies that over time decrease the country’s debt, Moody’s Investors Service said on Tuesday.
Debt/credit ratings are important because they tell investors/lenders whether or not you are a risk. Riskier loans require the borrower to pay more interest.
Right now we pay about $350 Billion a year in interest on the debt, and that is at very low rates, when (not if) the rates rise will most likely trigger a default or massive inflation.09/12/12 at 8:49 am #19823
Essentially Germany OKs Europe to print money to prolong the ponzi scheme.
Tomorrow our Fed votes whether or not to print massive amounts of money to prolong our ponzi scheme. We already are running one type of stimulus called ‘twist2’ this one will be called QE3. The Fed may not decide to QE3 tomorrow, but if not, it will be soon.
Realize that more money chasing the same amount of goods is inflationary.
On a happy note, my corvette hood is on, but not painted
Yesterday was the anniversary of the world trade center. The Libyans celebrated by attacking one of our embassys which will cause an escalation by us. My guess is there will be a full scale war in the very near future. Something like a Vietnam nam with the Russians and chinese on one side and us on the other , the battleground will be Syria and Iran with a spread to other countries. The cost will be huge, oil prices will double maybe.
It is going to get interesting very soon.09/13/12 at 3:16 pm #19922
Today our government has decided to print $40 billion per month until things get better. Things won’t get better.
This my friends is frightening. This is everything I have been talking about for the past 3 or 4 years. Realize that without printing this money out of thin air WE WOULD DEFAULT on our debts.
Expect inflation.09/14/12 at 6:43 am #19942
Social security is paying out about 9% more this year than last year. This trend goes back quite a while. When you start talking $600 billion a year, 9% is a huge number. At this rate we will pay out a trillion dollars a tear in about 6 years..
The point I am getting to is that you have to keep in mind that every day you go to work you ave supporting the elderly and others. Once you throw in welfare, food stamps, and all the other wonderful programs out there, you can see the problem.
When this thread was on the other forum, we had some discussions about gold and oil and their relationship to the value of the dollar. As the dollar weakens, from foolish spending and money printing, oil and gold and food and everything will rise. Maybe wages, definitely taxes..
What you need to consider is how you will protect yourself from the government stealing your money through inflation.09/15/12 at 5:10 pm #20041
kewlbreezeRegistered MemberRideCBR GuruPoints: 48,631
Not a big fan of the guy but a lot of what he says does make a lot of sense.
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