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The Collapse Is Coming...

Discussion in 'Survival/Preparedness Forum' started by avail, Sep 26, 2011.


  1. avail

    avail
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    BBC Speechless As Trader Tells Truth: "The Collapse Is Coming..."

    I don't usually pay attention to these kind of interviews, but this BBC clip from Sept 26, 2011 caught my attention. Thoughts? :shocked:
     

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  2. Dexters

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    He's correct.
     

  3. Ruggles

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    No offense but I have shoes older than that guy, I can not take his dire predictions with too much seriousness :dunno: The European economy has been rolling along for 100s and 100s of years, thru some pretty bad times ( much worse than this....) no less. I think it will weather this as well. Since this is all "electronic and paper debt" it can be moved and shuffled around at will. Nobody wins in a collapse so it will not be allowed to occur.
     
    #3 Ruggles, Sep 26, 2011
    Last edited: Sep 26, 2011
  4. magpie maniac

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    I saw this guy's interview earlier. He is nothing but a day trader and really shouldn't be considered a reputable source for global macroeconomic trends. Could everything collapse tomorrow? Of course they could and they just might if idiots like Alessio Rastani run around spreading their self-fulfilling prophecies and urge people to cash out of equities. Unless you're retiring within the next four or five years, now is no time to get super conservative.

    His blog entry on the 26th was entitled "Why I pray for another recession." Don't make this guy rich by falling for his Chicken Little routine.
     
  5. Dexters

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    Yea, a couple of world wars and that German hyperinflation weren't that bad.
     
  6. LongGun1

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    Personally....my feelings are the sub-prime crisis was just a visible reminder of systemic issues in the financial markets..

    (that includes astronomical civilian & governmental debt)

    ..& there will likely be more....

    A.."There will be blood"... kind of thing..

    ..hopefully only figuratively! :whistling:




    My hedge is continually working to be more self-sufficient..

    ..have a balance of assets in 'tangibles' & knowledge base to that end..

    ..and have a "safety net" large enough to be self-supporting if inflation were to skyrocket..

    ..or worse case....the house of cards were to suddenly collapse! :shocked:




    All that being said..

    ..economic issues is one of my top 5 "root causes"..

    .. for a potential future collapse of civil society in my lifetime..IMO!







    YMMV
     
    #6 LongGun1, Sep 26, 2011
    Last edited: Sep 26, 2011
  7. cowboy1964

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    Yeah, the world's finances are in TERRIFIC shape :whistling:
     
  8. Ruggles

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    And did it ever collapse? No. Europe was doing well economically before 1914 and economic issue were not a major causes of hostilities in 1939 either.

    Hyperinflation only occurred in Germany after the greatest war in history. Which they lost BTW, go figure :)

    If there is a continental wide war in Europe anytime soon I might have to reconsider. :tongueout:
     
    #8 Ruggles, Sep 26, 2011
    Last edited: Sep 26, 2011
  9. Wet Dog

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    Simply not true.

    There have been many collapses in the European economies in the last century. That would be like saying ' The European nations have been at peace for hundreds and hundreds of years...' totally discounts a couple of World Wars, a few civil wars, terrorism, genocide, state induced famine (Ukraine). Mankind survived. Many currencies did not.
     
  10. Ruggles

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    I read the OP "The collapse is coming" as meaning the collapse of the European economy. The used car salesman on the video implied the same. IMO that is not going to occur.
     
  11. SilverCity

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    #11 SilverCity, Sep 26, 2011
    Last edited: Sep 26, 2011
  12. Dexters

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    The guy in the video wasn't saying that the people in Europe would have a war or disappear off the face of the earth.
     
  13. Bilbo Bagins

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    That reminds me, I need to buy new dress shoes.

    This economic collapse has been coming for over 3 years now. Glenn Beck has come on gone since then. Seriously guys, just think about it.

    People are either too young or simply forget how bad economically we were in the early 90's the early 80's and through most of the 70's. Also lets not forget the lost decade in Japan and let's not forget the hot and very cold economy of europe, some of the reasons why we are here is our great-grandparents fled economic hardships in europe for a better life in America. Is today's economic downturn "the Big One"? Not by a long shot. 78 to 83 was MUCH worse.

    Also people need to understand WHO these pundits are. You seem to hear a lot of doom and gloom from gold brokers and hedge fund guys. These people stand to make a boatload of money off of some panic in the public.

    Should you worry, yes. Should you invest differently, maybe, but do your research. Remember buy low, sell high, if someone is telling you to buy high because the end is near, make sure he is not just saying that to line his pockets.
     
    #13 Bilbo Bagins, Sep 27, 2011
    Last edited: Sep 27, 2011
  14. barbedwiresmile

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    All other points and the original topic aside, I just wanted to chime in on this:


    Factually this is incorrect. Economic issues were the entirety of what led up to the 'hostilities' you refer to. Virtually all wars are economic in nature. The patriotic and security issues are just sales (how else do entities such as states convince hundreds of thousands, if not millions, of her young men to hurl themselves at each other?). But specific to the time period you refer to, rarely do we see such a clear-cut case of economic drivers of militarism and war.

    The state is a funny thing, really. It continues to endure despite its various inefficiencies and failings. It continues to incite passions and patriotism, even as the modern Total State descends into the blatant kleptocracy that proceeds bankruptcy. And, even as the overlords pillage and the enforcers incrementally ratchet up the violence proportionate to the complexity of the tax and regulatory regimes, the majority still has emotional attachment to the name and the flag of their given state. There seems to be some quaint notion of "government" operating along some philosophy of 'common good' when, in reality, what so many still refer to as "government" is nothing more than a racket.
     
    #14 barbedwiresmile, Sep 27, 2011
    Last edited: Sep 27, 2011
  15. ArmoryDoc

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    I'm a little more optimistic than that guy is. I'm "positive" it's coming. :)
     
  16. bdcochran

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    Nothing new here for most people or myself. "Prepare" and "have a plan" are great advice. My crystal ball has gone down and I haven't figured out how to repair the same.

    The Graduate - "The word is 'plastics'".

    For my generation the word was "become a doctor". Yep. And the guys who followed that advice have a shortened life span, work for a set fee under HMO plans, and are no longer revered as gods.

    What happened to the jobs like keypunch operator, bank computer software programmer, gas station attendant? All gone. Not to China, however.

    A relative saw the house prices tank in the depression. He had a plan. He would never buy a house. Lived in the same rental unit for the next 60 years. The rent went from $5 a month to over $2000. Another uncle built his house in 1928 and lived to be 97. His house was paid off 30 years before he died. He had a plan too.

    Darn, but I can't get the crystal ball working again.
     
  17. ArmoryDoc

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    Get rid of the "plastic" one and get a real glass ball. ;)
     
  18. bdcochran

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  19. Wet Dog

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    Except for interest rates and perhaps gas prices (relative to wages) I don't recall how 78-83 was worse. Revolving debt interest rates a mighty high now and secured debt loans very tough to come by these days.

    Being in the construction industry this is much worse than the 78-83 or the 91-94' or the 2001-2003 recessions. Residential is virtually at a halt and unemployment is over 40%. One of my suppliers (the biggest I deal with) has lost 75% of their accounts due to companies going out of business. You can buy an existing home here for much less than you can build one. Wages have fallen back to what I was getting in the 70's and 80's.

    Four years ago I was turning down work. Now I'm scrambling. I used to be able to hire trade guys but now I just put on the tools and do it myself - framing, siding, roofing, paint, cabinets, interior finish, hardwood floors.... I'm not sure what the future holds but I'm not turning down any paying jobs now. I thought I was done slamming 16d nails into 2x's back in my early thirties. It really sucks now being in my fifties and trying to make a living at it.

    Housing has always lead the way out of recession. I don't see that happening anytime soon.

    As for Europe, it looks like the EU is in trouble. Greece will no doubt default on at least part of its debt. Ireland will too. How many more economies will get pulled down with them now that they are all linked together? I'm guessing at least Spain and Portugal too and maybe even Italy. Can the EU stand that kind of hit? Probably not. Will the Euro survive? It won't be easy and if the Euro collapses what will happen to the dollar? Tough times ahead.

    I'm guessing further devaluation of the Dollar (inflation) and higher interest rates are not that far off here, maybe even before the next election.

    Interesting times. It'll probably play out slow, until it doesn't...
     
  20. Glock30Eric

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    Finally, you have opened your eyes. There are more than that. You'll need dig it deeper.

    http://theeconomiccollapseblog.com/ is good place for you to start digging deep with the situations in the world.