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Discussion in 'Political Issues' started by Ruble Noon, Jul 2, 2012.
Amazingly that figure doesn't even include all the unfunded liabilities. If you want to include unfunded liabilities, multiply your number X10.
It will be interesting to watch as the most predictable crash in the history of the world occurs and the sheeple and their representatives run around in a panic as if they had no idea it was coming. The only good thing about it is I will make a lot of money in the markets but that money may not be worth much.
Been stuffing money into securities since the last crash, and I can switch them into the stocks after the crash. Timing the bottom is the fun part. Buy low, sell high.
I don't think the future currency crisis is going to be the big score opportunity. Plus, if the banking crisis was any indication, it will domino so quickly that you will have garbage currency frozen in accounts by the .govt before you can say "jack squat".
Think Argentina and the global currency equivalent of nuclear winter.
But don't fret. The UN will gladly replace your frozen dollar assets for new global script for something on the order of 3 cents on the dollar. Or less.
You can model it like nuclear war. Come as you are. What you have in hard assets (not cash) after the boom is what you've got to work with.
They know exactly what's coming. Hence the flurry of recent internal control legislation. While they may appear incompetent as they wave the their red and blue flags, they are in fact extremely competent. After all, they've facilitated the greatest heist in history and insulated themselves from the repercussions.
My friend, I would strongly encourage you to hold 'stuff' rather than paper. An inflated, irrational, insider's, algo-driven market will be unforgiving to the individual investor.
I always thought ZH had the best comments section, especially for pure sarcastic comedy gold. This one, however, is succinct and sums the mess up:
We can only hoard so much "stuff" for a possible future barter economy. If it comes to that, there should be a transition period where cash can be put to work.
There are some credible commentators who see deflation, not inflation, as the ultimate outworking of this crisis. There is already some significant evidence to this hypothesis. If it goes this way, cash will become more valuable, commodities less.
I don't know any of the deflationary commentators are stating that deflation will be the ultimate end of this. Any deflation (if it even occurs) will be very short-lived. Then massive inflation, if not outright hyperinflation.
Japan's debt to gdp ratio is 200%. The debt is a problem, but those who swear the end is near should join their friends with same sign on the street corner.
EXACTLY!!!! So many people don't get this. We are so close to going over the edge, if we're not there already.
THIS DOES NOT HAVE A HAPPY ENDING.
What's the unfunded long term liabilities in Japan? As dsa1115 points out, that would put the U. S. figure at 1000%!
I don't get Japan. That much debt for this long? Yet no one ever talks about that.
I just don't get it.
One of the Fed's fears is spiralling stagflation.
We had it during the Nixon/Carter years and if I remember correctly Volker was Fed Chairman then. No economic growth, sky high interest rates, high unemployment, it was a very tough time.
Nixon fought it by imposing wage and price controls and Carter fought it with a button. Remember, the button said "WIN" and meant (whip inflation now).
I like what we have now a lot more than what we had then.
I'm not trying to minimize what people are going through right now. By my memory, though it was rougher then.
Thanks, Helicopter Ben!
Dent calls for a decade of deflation until the demographics turn around in the early 20's as the baby boomer echo enters their peak spending years.
You say "if it occurs" but it is already here. The housing market is certainly a deflationary spiral, and it's going to get worse. Systemic high unemployment (which is really around 14%) will depress wages and salaries. Ask a new college grad what the job market looks like. My son recently graduated from law school and after looking for a year finally took a job at about half of what he was expecting. That's deflation, when dollars buy you more value than they used to. You're just now watching the beginning of the commodity price collapse-oil is headed back below $50/bbl. I could go on. All lot of people deny the evidence right before their eyes. Our generation has never experienced deflation so governments and individuals don't know how to deal with it.
The WIN button was under Ford, not Nixon.
In 1972, Nixon won re-election because of many reasons, but unemployment was 5.9%, inflation was 4.3%, the total national debt was under half a trillion, and total federal spending was $230 billion. This soon after putting a man on the moon and while fighting a war in Vietnam.
After Nixon was re-elected, the media and the democrats began a silent coup to reverse the choice of the voters, and the combination of the antiwar movement with Watergate led to the extreme leftist McGovern wing taking over the DNC, which it still controls today. They also control education and thus revisionist history.
In 1976, Carter was elected, and by 1979 inflation was 13.3%, total annual federal spending was over $500 billion and the total accumulated national debt was $830 billion, which is about half of an Obama annual deficit.
This tripling of the inflation rate and the doubling of the national debt led us to the era of Reagan.
It is often said that it took a Carter to get us to Reagan.
Now we have the even worse Obama but it gives us Romney?!?
Reagan's only come around once a century ....