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re: The impending end of America
Posted on 12/30/19 at 6:59 am to GetCocky11
Posted on 12/30/19 at 6:59 am to GetCocky11
quote:
I'm not saying it is impossible, but another 1929-type crash seems highly unlikely.
If someone can say that with confidence, whether for or against, then they are doing themselves a great disservice by posting on the OT in the early hours of the day.
I, for one, am paranoid as hell. I began my adult life farming in a small-scale context due to this. I was convinced that everything would go to absolute shite by the time I was 30. I was wrong, but I'm still not convinced that it won't happen by the time I'm 40 or 45. I want tangible, productive assets that can survive an economic collapse. I still have investments in the "system" via stocks and an IRA, but those are just hedge bets in the event that things go better than I expect.
0
Posted on 12/30/19 at 7:00 am to NPComb
quote:
The federal government will downsize drastically. No longer will massive yearly deficits be run.
When we can no longer pay our deficits with printed dollars, the 1 in 5 Americans who receive federal aid will see giant reductions in their benefits. Government employees will be fired en masse.
Can we get this part started now?
Posted on 12/30/19 at 7:02 am to Kafka
Stealing TulaneLSUs schtick 
This post was edited on 12/30/19 at 7:03 am
Posted on 12/30/19 at 7:21 am to OWLFAN86
Read every word.
Agree with the op’s premise that our current fiscal policy is setting us up for a massive fall. We have printed more $ each time there was a slight downturn. Sooner or later we will see a surge in inflation.
The author could have omitted the “color commentary” on the current state of American culture
Agree with the op’s premise that our current fiscal policy is setting us up for a massive fall. We have printed more $ each time there was a slight downturn. Sooner or later we will see a surge in inflation.
The author could have omitted the “color commentary” on the current state of American culture
Posted on 12/30/19 at 7:22 am to OWLFAN86
I’m very wealthy, take carriage rides to my son’s piano concerts, and only write letters in calligraphy using a quill pen. I also hang around with a band of heathens to rob other stagecoaches.
American 10,000% right here.
American 10,000% right here.
This post was edited on 12/30/19 at 7:24 am
Posted on 12/30/19 at 7:22 am to OWLFAN86
Is this some OWEO shite?
Posted on 12/30/19 at 7:31 am to OWLFAN86
What a bunch of inane bullshite. People like you that believe this crap make us all weaker.
Posted on 12/30/19 at 7:38 am to Tigeralum2008
quote:
Agree with the op’s premise that our current fiscal policy is setting us up for a massive fall. We have printed more $ each time there was a slight downturn. Sooner or later we will see a surge in inflation.
We've also left interest rates so low for so long that we essentially have no arrows in the quiver in face of another downturn.
Posted on 12/30/19 at 7:46 am to fallguy_1978
quote:
We've also left interest rates so low for so long that we essentially have no arrows in the quiver in face of another downturn.
Yeap. You baws better keep a sharp eye on your IRA’s and where they are investing your $. It isn’t time to change positions yet but everyone should have a plan to pivot when the time comes
Posted on 12/30/19 at 8:10 am to Tigeralum2008
quote:
The author could have omitted the “color commentary” on the current state of American culture
Why? He’s not necessarily wrong.
Posted on 12/30/19 at 8:17 am to Tigeralum2008
quote:
It isn’t time to change positions yet but everyone should have a plan to pivot when the time comes
Both my health savings account and 401K have brokerage savings accounts available in them. Waiting patiently to cash out of the market and move to those investments.
Posted on 12/30/19 at 8:21 am to Aubie Spr96
Ever since '08, there has been a lot of economic doom peddled in the alt news/blogosphere. While things look good now, to paraphrase one of the doom bloggers, I do think our economy is a bit of an infinite growth pyramid scheme. I get laughed at for my peak oil talk on here, but I think the end of cheap energy is what brings it all down, although another housing crash or something else may do it first.
Posted on 12/30/19 at 8:25 am to Bunk Moreland
quote:
I think the end of cheap energy is what brings it all down, although another housing crash or something else may do it first.
Another competing reserve currency will do it. That's why I've been amazed that they've allowed these crypto currencies to continue.
Posted on 12/30/19 at 8:28 am to Bunk Moreland
quote:
but I think the end of cheap energy is what brings it all down, although another housing crash or something else may do it first.
The housing crash was really interesting. I don’t remember an economic downturn/crisis being as easy to predict as the housing crash. Analysts could look at the mortgage bundles and see when the adjustable rate increases were going to hit.
There were literally millions of mortgages with the same rate adjustment date ranges for analysts to accurately predict doomsday.
Our current economic state is not so predictable. Many thought it would be student loans, others thought the trade war with China, but cliff has proven elusive thus far.
This post was edited on 12/30/19 at 8:29 am
Posted on 12/30/19 at 8:30 am to Tigeralum2008
quote:
Many thought it would be student loans
Consolidation and re-financing through places like SoFi allow these loan repayments to be dragged out for years and years and years with fairly low monthly payments.
Posted on 12/30/19 at 11:14 am to OWLFAN86
The end of America already happened y'all just don't know it yet cause you haven't reached that timeline.
Posted on 12/30/19 at 11:20 am to OWLFAN86
You are very optimistic about how our conquering oppressors will handle the changes underlying #1.
It's more likely they'll twiddle thumbs and point fingers and 75 years of deferred inflation will happen suddenly.
Not the end of the world, but there will be some associated pain, particularly for the retired. The credit markets will probably tighten in a profound way, too.
It's more likely they'll twiddle thumbs and point fingers and 75 years of deferred inflation will happen suddenly.
Not the end of the world, but there will be some associated pain, particularly for the retired. The credit markets will probably tighten in a profound way, too.
Posted on 12/30/19 at 11:30 am to USMEagles
Watching my industry taking hits, sucks ballz.
Trying to find a job out of state now. Giving up on louisiana, until I have enough cash to come back as a slum lord.
Trying to find a job out of state now. Giving up on louisiana, until I have enough cash to come back as a slum lord.
Posted on 12/30/19 at 11:34 am to OWLFAN86
Fine
Go back to Matamoros or whatever
Go back to Matamoros or whatever
Posted on 12/30/19 at 11:34 am to OWLFAN86
While I might quibble with some details, the economic part of your tale is a fairly accurate analysis IMO. The process has been gradual, over 100 years of fiscal and monetary profligacy have brought us to this point. But, when the money printing/debt monetization becomes overt and large scale, as it did in this country in 2009, then the writing is on the wall that we've passed the point of no return. The only thing that can prevent an economic collapse is discovery of some cheap, portable energy source, which is not obvious on the horizon.
This post was edited on 12/30/19 at 11:37 am
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