GlockTalk Forum banner

21 - 40 of 131 Posts

·
Registered
Joined
·
10,203 Posts
I strongly agree with what you've said here. Most of us have been looking at the past to deal with current problems. I don't think that's wise since people are aware of these historical problems and will have plans in place to deal with them. We have to think differently.

The big question is......

Who's going to get screwed over by the explosion? Historically, it's been the taxpayer/citizen but I don't think the population of the U.S. is going to put up with it. It's heresy as far as historical precedent, but I think there is going to be a bid to screw over the bond holders.
I think bond holders are absolutely going to get screwed. The USD has been the world’s reserve currency since WW2, at least. That works just great and fine for everybody... right up until it doesn’t.

I think when the U.S. splits up, everyone’s going to discover what happens when the reserve currency fails.

Could lead to a worldwide depression, wars, whatever. Even for me, it’s kinda depressing to think about.

We’ve been riding the crest of a wave triggered by WW2 (or arguably WWI). For the last 75 years we’ve had a period of unprecedented (Relative) peace, stability, and prosperity, like the world has never seen on this scale.

It’s looking that American wave might finally be breaking, and there’s a real chance it’s going to wipe out and take a lot of major powers with it. But that’s getting a view that’s way up in the clouds.

We’ve got plenty of problems to focus on right here at home that are going to get very real, very fast.

Edit: With regards to Bitcoin et al.... I’m not optimistic that if America crashes and burns, the global integrated electronic financial system is going to be something people have a lot of faith or interest in for quite a while. That includes crypto. Things will probably revolve around oil, rare earths, and other raw materials.
 

·
Registered
Joined
·
4,965 Posts
Take the rhetoric and actions of this administration and switch the letter after their name to a "D" vs an R and this forum would've exploded in times past. This is even prior to Covid..... After Covid? The hill turns into a mountain, and still few voices will call him out.

Trump did it so it's 4D chess..... :(
 

·
...
Joined
·
17,580 Posts
Do you think Biden and Kamala can save us?
I hope to God that Trump is re-elected and that he becomes more of a fiscal Conservative in his second term.

But if Biden/Harris get in there with the corrupt Socialist/Collectivist big government DNC pulling their strings and calling the shots, and start expanding the welfare state with open borders, total economic collapse is inevitable.

We won't have to worry about being able to own a gun because nobody will be able to afford anything but the bare necessities.
 

·
Registered
Joined
·
12,057 Posts
Well, if we do have to borrow more $$$, now is the time to do it. Interest rates are essentially at zero and will remain so for quite some time to come.
 

·
Registered
Joined
·
6,544 Posts
We will be slaves. Calling us racists and lighting all the forests on fire is only the beginning of what will be unimaginably worse!
 

·
Registered
Joined
·
2,996 Posts
I hope I'm not around when that bill comes due and payable.
You probably will be.

Covid has done a good job of speeding everything up. Things that we've only been theorizing about have come to pass, ranging from remote work/learning to the budget deficit reaching a tipping point.

There is a lot of pressure being put on a infrastructure that's already weak.

V.
 

·
Registered
Joined
·
2,996 Posts
Take the rhetoric and actions of this administration and switch the letter after their name to a "D" vs an R and this forum would've exploded in times past. This is even prior to Covid..... After Covid? The hill turns into a mountain, and still few voices will call him out.

Trump did it so it's 4D chess..... :(
What you're saying is part of a larger chump's deal. People working from the assumption that one party being the source or solution to our problems are fooling themselves. One side and the other are played against each other and everyone becomes poorer in the process.

V.
 

·
Registered
Joined
·
1,018 Posts
Pelosi wanted to at least double that with the HERO act. But don't worry. Biden wants to raise taxes on corporations and the rich which he claims will raise over 2 trillion. Of course politicians like to measure projected revenue over the next 10 years and adjusted for inflation so you have to divide by about 12 to get the real annual number which isn't nearly enough to make a difference.

What really worries me isn't the 3 trillion deficit this year since the virus is an exceptional event and will pass. Its the 1 trillion dollar deficit we were running in a booming peacetime economy. Biden and the Democrats keep talking about massive new spending programs which without massive tax hikes will further increase the deficit. Its a lot easier for politicians to pass laws that increase spending or cut taxes than to pass laws that raise taxes or cut spending. Democrats are worse but the deficit last year shows Republicans are not much better. They like to emphasize tax cuts over new spending but the deficit last year shows they are not concerned about debt either.

I am in my early 60s and my IRA is in a conservative 60/40 mix of stocks and bonds. The growing deficit has me worried to the point I am thinking about switching to a 70/30 mix in case inflation goes way up. I saw someone mention real estate. If we see not hyper-inflation but go back to 70s style inflation house prices could crash if interest rates on home loans go back to 12%. Today's super high real estate prices are only possible with super low interest rates. There are not enough people able to pay cash or pay for a $350,000 home with a 12% loan to keep house prices as high as they are now. And the aftermath of the virus is going to crush commercial office space regardless of interest rates. Despite the volatility I think stocks are the best hedge against inflation.
 

·
Registered
Joined
·
10,614 Posts
MMT..............................:crazy:

And, it is only going to get worse.
 

·
Registered
Joined
·
2,996 Posts
Pelosi wanted to at least double that with the HERO act. But don't worry. Biden wants to raise taxes on corporations and the rich which he claims will raise over 2 trillion. Of course politicians like to measure projected revenue over the next 10 years and adjusted for inflation so you have to divide by about 12 to get the real annual number which isn't nearly enough to make a difference.

What really worries me isn't the 3 trillion deficit this year since the virus is an exceptional event and will pass. Its the 1 trillion dollar deficit we were running in a booming peacetime economy. Biden and the Democrats keep talking about massive new spending programs which without massive tax hikes will further increase the deficit. Its a lot easier for politicians to pass laws that increase spending or cut taxes than to pass laws that raise taxes or cut spending. Democrats are worse but the deficit last year shows Republicans are not much better. They like to emphasize tax cuts over new spending but the deficit last year shows they are not concerned about debt either.

I am in my early 60s and my IRA is in a conservative 60/40 mix of stocks and bonds. The growing deficit has me worried to the point I am thinking about switching to a 70/30 mix in case inflation goes way up. I saw someone mention real estate. If we see not hyper-inflation but go back to 70s style inflation house prices could crash if interest rates on home loans go back to 12%. Today's super high real estate prices are only possible with super low interest rates. There are not enough people able to pay cash or pay for a $350,000 home with a 12% loan to keep house prices as high as they are now. And the aftermath of the virus is going to crush commercial office space regardless of interest rates. Despite the volatility I think stocks are the best hedge against inflation.
I struggle with insomnia so I'll be limiting my comments to my lack of sleep, hence limited thinking ability;.....

I make my way in this world by watching trends. With experience, I've noticed that projections on certain trends should be reduced by 30 to 50 percent in order for them to be accurate.

In commercial real estate, I think people are going to be working from home more but not all the time. I see employees sharing an office on alternating work days or open space working areas being used. I don't think people are going to make it working at home in their underwear. Simply put, I think that there will be a 30 to 50 percent reduction in the use of commercial office space.

Our economic system and it's accompanying problems are going to continue in the short term. The politicians and the central banks are NOT going to give up the game as it's currently being played. They will try and keep things going as they are because that's what they know.

Short term, there's going to be a reset in the price of real estate. It's gotten so high that 50 percent of our population can't survive in the current environment. Life is tough for the average wage earner and it's going to get worse because the system is designed to work against the money they make.

However, longer term, the trend is still going to be inflationary. As long as the FED is printing money and as long as people are trading real estate like commodity futures, then the price is going to continue to rise. It's just the way our system works as currently configured.

Nobody is going to save money when it's being devalued by our system. Instead, it going to be put into assets of one kind or another. This can range from stock buybacks to real estate.

Remember, any time you inject capital into any system, the effect is going to be inflationary. If the FED prints, it's going to cause prices to rise. If people move into your town with money in their pockets, then the end result is going to be inflation.

V.
 

·
NRA Life Member
Joined
·
28,642 Posts
This guy's going to buy a loaf of bread.

hyperinflation.jpg



;)
 
  • Like
Reactions: 10or45 and Westexas

·
Registered
Joined
·
208 Posts
Will owning gold or silver help when everything crashes? Maybe I watch too many Youtube videos.
 

·
Native Mainiac
Joined
·
20,307 Posts
Time for the whole nation to suck it up and go on a diet of "beans and rice, rice and beans" as recommended by Dave Ramsey.
 

·
Registered
Joined
·
4,643 Posts
WHAT DIFFERENCE AT THIS TIME DOES IT MAKE!!
 
  • Like
Reactions: G33
21 - 40 of 131 Posts
Top