"20 reasons Global Debt Time Bomb explodes soon
Commentary: Which trigger will ignite the Great Depression II?
Federal Budget Deficit Bomb. The Bush/Cheney wars pushed America deep into a debt hole. Federal debt limit was just raised almost 100% with Obama’s 2010 budget, to $14.3 trillion vs. $7.8 trillion in 2005. The Congressional Budget Office predicts future deficits around 4% through 2020. Get it? America’s debt at 84% of GDP will soon pass that toxic 90% trigger point.
U.S. Foreign Trade Bomb. Monthly deficits actually dropped from $50 billion per month to roughly $35 billion. But the total continues climbing as $400 billion is added each year. Foreigners now own $2.5 trillion of America, with China holding over $1.3 trillion in Treasury debt.
Weakening U.S. Dollar as Foreign Reserve Currency Bomb. Fear China and other currencies will replace dollar as main foreign reserves. The dollar’s fallen: The main index measuring dollar strength has gone from 120 at the Clinton-to-Bush handoff to below 80 today."
It is going to get ugly. I am 26 years old and I believe by the time I die the US will be DRASTICALLY different from the country my grandparents enjoyed.
Call me a redneck, but I am stockpiling weapons, ammo, and non-perishables.
[quote]formerfatboy wrote:
It is going to get ugly. I am 26 years old and I believe by the time I die the US will be DRASTICALLY different from the country my grandparents enjoyed.
Call me a redneck, but I am stockpiling weapons, ammo, and non-perishables. [/quote]
I am just a tad older than you. We can change this country, but we need a grass roots movement to take back the country for its citizens.
[quote]dmaddox wrote:
I am just a tad older than you. We can change this country, but we need a grass roots movement to take back the country for its citizens.[/quote]
What if that fails, what happens then?
It’s not what I want but I have to play devils advocate. What if the GOP can’t get their shit together by Nov? Would a 3rd party emerge splitting the conservative base making the Dems the dominant party?
We must do a 150 degree turn(this is how far the Judge says we are off from the constitution). We are about to find out what Reagan was talking about “Government is never the answer”. The commercial real estate bubble will cause the next depresssion. Now will it be like the depression of the 1920 or will it be like the great depression.
I have a feeling it will be more like the depression of 1920, everyday I hear more and more people getting pissed at the government.
laissez-faire is the answer. Just like in the late 1700’s early 1800’s when the seperation of church and state happened we need a seperation of economics and state.
Eh, the derivatives market is a drop in the bucket that will be corrected by the market just fine.
Investors are required to make margin calls on leveraged positions so they might be “highly leveraged” but not anywhere near as bad as the rest of that list.
I agree about the shadow banking complaint though. Where do they get such power from?
Ronald Reagan doubled the U.S. money supply. Bush Sr. and Jr. kept on printing money. The Treasury bill rate went from 16% to 0%. All of these distortions have to have their effect. Well, the bill has come due, and â?? as Ayn Rand predicted â?? it is marked â??ACCOUNT OVERDRAWNâ??.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.
I have hope that the citizens of this great country will wake up, and take back what is ours. The independents are but sleeping giants, and I hope they remember how this administration ramed the Obamacare down our throats. I heard a radio personality by the name Michael Berry stated, for us to write down what we were feeling right now, and then in Novemeber pull that out to remind us what we were feeling. This administration is going to pull out all the stops to give us all the red herrings we can take to get our minds off of what he has done. I think the tea party is a good movement that just looks at the facts of money being spent by the government. I do not think the Tea Party will take votes away from Republicans. Look at Ron Paul, he might be a Libertarian at heart, but he runs as a Republican. He does not want to allow the Democrats to take power because people want to vote for him. Ron Paul learned from Ross Perot’s mistakes.
[quote]Headhunter wrote:
Ronald Reagan doubled the U.S. money supply. Bush Sr. and Jr. kept on printing money. The Treasury bill rate went from 16% to 0%. All of these distortions have to have their effect. Well, the bill has come due, and â?? as Ayn Rand predicted â?? it is marked â??ACCOUNT OVERDRAWNâ??.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
[quote]Headhunter wrote:
Ronald Reagan doubled the U.S. money supply. Bush Sr. and Jr. kept on printing money. The Treasury bill rate went from 16% to 0%. All of these distortions have to have their effect. Well, the bill has come due, and �¢?? as Ayn Rand predicted �¢?? it is marked �¢??ACCOUNT OVERDRAWN�¢??.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
[quote]Headhunter wrote:
Ronald Reagan doubled the U.S. money supply. Bush Sr. and Jr. kept on printing money. The Treasury bill rate went from 16% to 0%. All of these distortions have to have their effect. Well, the bill has come due, and �?�¢?? as Ayn Rand predicted �?�¢?? it is marked �?�¢??ACCOUNT OVERDRAWN�?�¢??.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
Why pre 1965 silver coins?[/quote]
They are 90% silver and recognized as real money.
[/quote]
So the newer ones are not 90% silver? I did not know that. Good information.
[quote]Headhunter wrote:
Ronald Reagan doubled the U.S. money supply. Bush Sr. and Jr. kept on printing money. The Treasury bill rate went from 16% to 0%. All of these distortions have to have their effect. Well, the bill has come due, and �??�?�¢?? as Ayn Rand predicted �??�?�¢?? it is marked �??�?�¢??ACCOUNT OVERDRAWN�??�?�¢??.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
Why pre 1965 silver coins?[/quote]
They are 90% silver and recognized as real money.
[/quote]
So the newer ones are not 90% silver? I did not know that. Good information.[/quote]
This is news to me. The silver American Eagle is guaranteed at 99% silver regardless of year.
[quote]Bill Roberts wrote:
Headhunter was speaking of coins issued as currency. [/quote]
Yes. And they are recognized as being the real deal. Not that Silver Eagles aren’t a good choice. My concern would be that someone with whom you’d want to do business, like buy a can of food, wouldn’t trust the newer coins. Silver dimes are also smaller units.
Mercury dimes (pre-WW2) would be an absolutely excellent choice, though the mark-up would be higher than the silver Roosevelts, 1946-1964 (I’m a coin collector btw).
[quote]John S. wrote:
We must do a 150 degree turn(this is how far the Judge says we are off from the constitution). We are about to find out what Reagan was talking about “Government is never the answer”. The commercial real estate bubble will cause the next depresssion. Now will it be like the depression of the 1920 or will it be like the great depression…
[/quote]
I have a good friend who is a successful realtor in Charlotte, NC. He is heavily invested in commercial real estate. He just told me a week ago for the second time in the last couple years that the commercial real estate bust is indeed coming.
He is so convinced of it that he is letting go of many of his investments NOW. I mean he is letting millions of dollars of commercial property get foreclosed on now rather than continue servicing debt that he knows is going sour soon.[/quote]
Yep. Now combine that with the winding down of the effects from the Stimulus, what there was of it. Now the real deal is coming.
[quote]Bill Roberts wrote:
Headhunter was speaking of coins issued as currency. [/quote]
Yes. And they are recognized as being the real deal. Not that Silver Eagles aren’t a good choice. My concern would be that someone with whom you’d want to do business, like buy a can of food, wouldn’t trust the newer coins. Silver dimes are also smaller units.
Mercury dimes (pre-WW2) would be an absolutely excellent choice, though the mark-up would be higher than the silver Roosevelts, 1946-1964 (I’m a coin collector btw).
[/quote]
Where do you buy your coins? I am looking for a company to buy coins and buillion through, but they have a mark up of about 10% on average. I think that markup is outrageous. Mutual Funds at worst are 5.75%.
