I made a poll a while back asking everyone's opinion on where they thought the economy was heading and was happy with some of the feedback, but it is for certain we are headed into a severe recession. But now comes the big question; will this develop into a depression? If so, will it be inflationary or deflationary? Will we have something even worse where the entire global banking system is completely wiped out by derivatives? Is this the "End of Days"?
You don't have to believe that any of this is coming, but you can still be hypothetical. So who is the best to deal with the situation? Does it even matter?
Here is some interesting, and incredibly frightening segments from the latest Korelin Economics report.
Segment 3 - Roger Wiegand explains how the markets have behaved so strangely.
Segment 4 - John Williams, originator of Shadow Government Statistics, tells us what he believes the causes were this past week in the markets.
Greg McCoach continues his discussion from the weekly show about this past week's strange market behaviour.
Segment 4 - Bob Moriarty tells us about his newest dire prediction for the economy, and if his record tells us anything we should be worried. (From Saturday, 03.15.08, Bob Moriarty correctly predicts a correction in gold and silver, and the rise in value in the dollar)
In a deflationary depression prices come down nominally, but so do wages, which means debt, depending on the amount, can become impossible to pay back. This may lead to a mass of creditors liquidating the debtor. Unemployment will soar as people are laid off because it becomes increasingly difficult for businesses competing with each other and to pay off their debts, and many people will lose their homes because of the inability to pay back mortgages.
In a inflationary depression prices inflate at an alarming rate (hyperinflation). First prices can adjust every month, then every week, then every day, then every hour, then possibly every minute. Debt will be repudiated, but because of the amount of inflation at such a rapid pace, there is hardly any economic stability, if none depending how severe it is.
*Basically, if a financial meltdown happened and the entire banking system in the US was destroyed, Bush could use The National Security and Homeland Security Presidential Directive and continue being president beyond his 2nd term if this were to happen this year, if I have interpreted this right.
This is in the event of a "catastrophic emergency." Such an emergency is construed as "any incident, regardless of location, that results in extraordinary levels of mass casualties, damage, or disruption severely affecting the U.S. population, infrastructure, environment, economy, or government functions."
It states "(1) This directive establishes a comprehensive national policy on the continuity of Federal Government structures and operations and a single National Continuity Coordinator responsible for coordinating the development and implementation of Federal continuity policies. This policy establishes "National Essential Functions," prescribes continuity requirements for all executive departments and agencies, and provides guidance for State, local, territorial, and tribal governments, and private sector organizations in order to ensure a comprehensive and integrated national continuity program that will enhance the credibility of our national security posture and enable a more rapid and effective response to and recovery from a national emergency."
My opinions:
Who do I think will handle an economic collapse in the United States the best? Here is my answer.
Where do I think the economy is going? A depression. Everyday it seems more certain. I'm just not quite sure if it will be deflationary or inflationary. I have a feeling it will most likely be inflationary, as the Fed seems to be ok with letting the dollar die while battling deflationary forces in the market and bailing out Wall Street. But if we have hyperinflation, deflation will follow ultimately.
What should you do? Stock up on some food, maybe water if you don't have a dependable source of water. Buy some gold and silver and hold onto some cash. Get a gun to defend you and your family, just in case. And most importantly, get out of debt.
If things get really nasty... I guess learn how to farm and hunt. This is just my opinion though. I have yet to see any good evidence supporting the bulls irrational exuberance that this is just a bump in the road and we are fine.
Roger Wiegand's (alongside Jay Taylor) website http://www.webeatthestreet.com/
John Walter Willaim's website http://www.shadowstats.com/
Bob Moriarty's website http://www.321gold.com/
Korelin Economics Report website http://www.kereport.com/
You don't have to believe that any of this is coming, but you can still be hypothetical. So who is the best to deal with the situation? Does it even matter?
Here is some interesting, and incredibly frightening segments from the latest Korelin Economics report.
Segment 3 - Roger Wiegand explains how the markets have behaved so strangely.
Segment 4 - John Williams, originator of Shadow Government Statistics, tells us what he believes the causes were this past week in the markets.
Greg McCoach continues his discussion from the weekly show about this past week's strange market behaviour.
Segment 4 - Bob Moriarty tells us about his newest dire prediction for the economy, and if his record tells us anything we should be worried. (From Saturday, 03.15.08, Bob Moriarty correctly predicts a correction in gold and silver, and the rise in value in the dollar)
In a deflationary depression prices come down nominally, but so do wages, which means debt, depending on the amount, can become impossible to pay back. This may lead to a mass of creditors liquidating the debtor. Unemployment will soar as people are laid off because it becomes increasingly difficult for businesses competing with each other and to pay off their debts, and many people will lose their homes because of the inability to pay back mortgages.
In a inflationary depression prices inflate at an alarming rate (hyperinflation). First prices can adjust every month, then every week, then every day, then every hour, then possibly every minute. Debt will be repudiated, but because of the amount of inflation at such a rapid pace, there is hardly any economic stability, if none depending how severe it is.
*Basically, if a financial meltdown happened and the entire banking system in the US was destroyed, Bush could use The National Security and Homeland Security Presidential Directive and continue being president beyond his 2nd term if this were to happen this year, if I have interpreted this right.
This is in the event of a "catastrophic emergency." Such an emergency is construed as "any incident, regardless of location, that results in extraordinary levels of mass casualties, damage, or disruption severely affecting the U.S. population, infrastructure, environment, economy, or government functions."
It states "(1) This directive establishes a comprehensive national policy on the continuity of Federal Government structures and operations and a single National Continuity Coordinator responsible for coordinating the development and implementation of Federal continuity policies. This policy establishes "National Essential Functions," prescribes continuity requirements for all executive departments and agencies, and provides guidance for State, local, territorial, and tribal governments, and private sector organizations in order to ensure a comprehensive and integrated national continuity program that will enhance the credibility of our national security posture and enable a more rapid and effective response to and recovery from a national emergency."
My opinions:
Who do I think will handle an economic collapse in the United States the best? Here is my answer.
Where do I think the economy is going? A depression. Everyday it seems more certain. I'm just not quite sure if it will be deflationary or inflationary. I have a feeling it will most likely be inflationary, as the Fed seems to be ok with letting the dollar die while battling deflationary forces in the market and bailing out Wall Street. But if we have hyperinflation, deflation will follow ultimately.
What should you do? Stock up on some food, maybe water if you don't have a dependable source of water. Buy some gold and silver and hold onto some cash. Get a gun to defend you and your family, just in case. And most importantly, get out of debt.
If things get really nasty... I guess learn how to farm and hunt. This is just my opinion though. I have yet to see any good evidence supporting the bulls irrational exuberance that this is just a bump in the road and we are fine.
Roger Wiegand's (alongside Jay Taylor) website http://www.webeatthestreet.com/
John Walter Willaim's website http://www.shadowstats.com/
Bob Moriarty's website http://www.321gold.com/
Korelin Economics Report website http://www.kereport.com/
Last edited by Phrozenbot (2008-03-23 01:17:29)
