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Economic future questions for you real smart fellers and gals.

bpostbpost Member Posts: 32,221 ✭✭✭✭

The Great Depression of the 1930's was a world wide depression, the globe was impacted. The USA, due to FDR's policies, was the only nation to suffer as long as we did. The depression ended in the USA with the start of WWII.

If a depression hit the world now, many nations are running out of power for electric, their currency is worth less than toilet paper, Europe's people are facing $3,000.00 a MONTH heating bills, if there is gas at all. China is in a free fall and Russia is led by a nutcase just like Kim Jung Il in North Korea. Worst of all for the world Joe (dementia) Biden is POTUS.

All that adds up to BAD STUFF DUDE. Is there a safe haven for us peons aside from Food, water, shelter and lead for our assets. I am looking at retirement in five months and have meager means but am determined to ride out what ever storm is coming.

Comments

  • mike55mike55 Member Posts: 2,271 ✭✭✭✭

    Well.....IF you have enough food, water, shelter, and lead......what else do you need?!

    If it gets as bad as I THINK it will, we will all retire from our current jobs!

  • Don McManusDon McManus Member Posts: 23,136 ✭✭✭✭
    edited October 4

    All the talk of the Federal Government and the Federal Reserve trying to engineer a soft landing should put fear into the hearts of us all.

    This clusterflummix is the creation (corrected, Thanks, Bruce) of Government spending and the Federal Reserve finding a way to service that spending. The solution will inevitably be spending money to help out people (just like the Trump/Biden approach to covid) further increasing the Federal debt and further devaluing the dollar.

    Many individual Americans are moving towards an austerity budget now. Unless the Federal Government does the same, this problem and the fiscally irresponsible solutions will make the problem insurmountable absent hyperinflation induced debt reduction.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • Mr. PerfectMr. Perfect Member, Moderator Posts: 63,801 ******

    We need some politicians willing to make the big changes that are necessary. Balanced budget amendment. Abolish the federal reserve. Repeal the 19th amendment. Repeal Obamacare. And a host of other things.


    Stock up folks. We are in for a very bumpy ride because none of that is going to happen any time soon.

    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
  • mac10mac10 Member Posts: 2,153 ✭✭✭✭

    its 1930 again

  • select-fireselect-fire Member Posts: 69,482 ✭✭✭✭
    edited October 4

    All the talk of the Federal Government and the Federal Reserve trying to engineer a soft landing should put fear into the hearts of us all.


    New words... soft landing... pivot... when the fed stop raising rates... All nonsense. Fact is the govt has delayed the crash only because they could. They want unemployment to slow the economy down. Just the opposite of what they should be doing. Yet they give bus loads of money for any sort of a reason that they believe. The only savior that could possibly happen is Putin is overthrown or Ukraine takes over Russia and the World economy goes back to normal. China is the wildcard... just watching next door to see how bad it gets. Yet they want the Yen to be the world monetary source... When our economy has a collapse .. say in about 1-1.5 yr when foreclosures and plastic card debt is severe... the dollar will try and hold on. And waiting on the next distraction to come along... covid... gas prices.... supply chains... so the govt has an excuse why the economy is in the trash can.

  • bpostbpost Member Posts: 32,221 ✭✭✭✭

    Don, Don, Don, Tisk, Tisk, tisk.....It is "the CREATION of" not "the create".......😀😂

  • Don McManusDon McManus Member Posts: 23,136 ✭✭✭✭

    Thank you, Bruce.

    I will endeavor to correct my behave in the future.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • bpostbpost Member Posts: 32,221 ✭✭✭✭
  • Mr. PerfectMr. Perfect Member, Moderator Posts: 63,801 ******

    I apologize Bruce. You asked for the real smart fellers and gals and you got me and a bunch of others instead.

    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
  • jimdeerejimdeere Member, Moderator Posts: 23,836 ******

    Thank you, Mr. Subliminal.

  • tomh.tomh. Member Posts: 3,729 ✭✭✭

    Restoration of the Tenth Amendment would go a long way to restoring the Republic.

  • Mr. PerfectMr. Perfect Member, Moderator Posts: 63,801 ******

    The tenth is still in place, if not enforced. Repeal of the 17th and 19th needs to happen pronto.

    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
  • chiefrchiefr Member Posts: 13,013 ✭✭✭✭

    With DEMOCRATs in control, we are on a rapid pace towards an abject Marxist state. Once Marxism is entrenched there will be no economy to worry about.

  • thorhammerthorhammer Member Posts: 902 ✭✭✭

    Buy assets, you shouldn't compare what is happening as the Great Depression, but you should compare it to Weimar, Germany during hyperinflation. Everytime they went and bought food or supplies the prices rose again, just like now. There's a story about a walmart shopper take takes pictures (on smartphone) of each item and it's price, when she checks out and notices the receipt price is different she goes to customer service, shows the pictures and gets the difference. The customer service person says that 300 to 500 items a day change price and they can't catch it all. It's best to exchange some of that paper fiat for precious metals, just in case things go south quickly.

  • mohawk600mohawk600 Member Posts: 5,154 ✭✭✭✭

    gold........gold.........gold.........and silver

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