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There are warnings coming from all quarters about the global economy.
Hey don't worry, our govt says everything is fine and the economy is doing well. Yeah, I got another 100 rounds of buckshot today! Seriously, I don't need a financial expert to tell me our govt can't balance a checkbook. I personally would like to hold some of our politicians liable for the massive debt they helped get us in. I wouldn't put too much faith in our dollar as I'm pretty sure inflation will devalue it before too long.
 
Some economic headlines...

Tsunami of store closings: http://www.cnbc.com/id/101353168

Administration fears part of health care system so flawed it could bankrupt insurance companies:http://www.foxnews.com/politics/201...alth-care-system-so-flawed-it-could-bankrupt/

Dow Jones industrial average down 156 points:http://www.foxrio2.com/dow-jones-industrial-average-down-156-points-at-16225/

Record 20% of Households on Food Stamps in 2013:http://cnsnews.com/news/article/ali-meyer/record-20-households-food-stamps-2013

China races to prevent trust loan default:http://www.ft.com/intl/cms/s/0/62551a62-83f4-11e3-b72e-00144feab7de.html#axzz2rF5AuylN

Why Spain’s economy is in horrific shape but bond markets think the crisis is over: http://qz.com/164769/spain-economy-is-in-horrific-shape-but-bond-markets-think-the-crisis-is-over/#/

Russia Is Losing Sources of Economic Growth:http://www.themoscowtimes.com/opini...losing-sources-of-economic-growth/493094.html

Crippled eurozone to face fresh debt crisis this year, warns ex-ECB strongman Axel Weber:http://www.telegraph.co.uk/finance/...s-year-warns-ex-ECB-strongman-Axel-Weber.html


And finally, forget the bogus unemployment numbers. They have so many ways of fudging them they don't mean anything. The real employment indicator is the Labor Force Participation Rate (straight from the U.S. Bureau of Labor Statistics) http://data.bls.gov/timeseries/LNS11300000:
LaborForceParticipation.png


Happy New Year? :confused:
 
Wall Street and the global economy is a giant Ponzi scheme, guaranteed to fail - the question is when.
The stocks are worth more than the assets on the ground. If you look at he graph I posted on the thread Hollywood and Wall Street.
Such inflated prices by the US printing $85 soon to be $75 billion a month - if interest rates go up or major deflation sets in it all comes tumbling down.
 
The Dow closed down 318 today. We'll have to see if the rout continues on Monday. Gold has stayed above 1250 for two days, which is supposedly the signal for gold shorts to start going long (changing from a bear to a bull market for gold). If confidence in gold is restored, you'll see a lot of investors that abandoned gold in 2013 flocking back to it as a safe haven. This is the very thing they spent most of 2013 desperately trying to prevent by suppressing the gold market ("they" being primarily JP Morgan Chase, but also possibly the Fed, the Obama Administration, and Wall Street in general)
 
Again, I really question why I contribute to a 401k? Seriously though, I believe in covering as many bases as I can, which is what preppers do, but I feel a lot better about the tangible things I buy each month than a share of a mutual fund. If there wasn't such a penalty for early withdrawal I would probably cash out tomorrow. One thing about economies though, they go up and down. Since I'm fifty now, I'm hoping that by the time I'm 63 or 65, our economy will be coming back from the crash I see on the horizon. How long did it take for the crash of 29 to recover, 10 to 15 years?
 
Whatever shares you have or investments even gov. pensions will be lost, and will not regain there value.
I am expecting massive country bankruptcy - no welfare or pensions paid out, leading to a USA civil war & 3ww.

Food security and fundamentals, debt worst it has ever been on a global scale. With nuclear and biological weapons doomsday will soon be a reality.
 
Whatever shares you have or investments even gov. pensions will be lost, and will not regain there value.
I am expecting massive country bankruptcy - no welfare or pensions paid out, leading to a USA civil war & 3ww.

Food security and fundamentals, debt worst it has ever been on a global scale. With nuclear and biological weapons doomsday will soon be a reality.
I know we are heading for tough times, but I think there will still be something left of an economy. Countries have had economic crashes, but the people still do what they can to survive, with trading/bartering. I think some will still use currency as it's all they've known their whole lives. Even though it is just a piece of paper, the familiarity of it will create some sense of worth. I don't believe our govt is just going to disappear, it may become a police state (likely), with martial law declared. Make no mistake, there will be plenty of parties wanting to control whatever is left, usually it will be the military as they have enough weapons and resources. Whatever group is in control, they will want some form of currency to trade with, and since our current system is familiar I don't think it will be replaced. I think all this is worst case scenario, and hope it won't get that bad. More likely we will just go into a depression and have really tough times for a several years. I don't doubt martial law as people will get ugly when they can't feed their families, but I don't think we will see a total collapse. And as I said before, I think in time the economy will come back, and that's why I'm still prepping for that too. I guess I'm just trying to prep for as many different situations as I can, and I still see the dollar as a viable currency in the future as a good possibility.
 
Also the whole nwo idea... Maybe they'll end the US dollar and turn in to a continental currency.... Then all the higher ups can have a another cycle to acclimate the public to a more global currency. After the regional stuff collapses, that's when I see the global currency on the way. I think they'll take some time to get the public use to regional stuff before jumping to global currency..
 
Two countries in Southern Africa near where I grew up, Ghana and Zimbabwe started printing money, I remember they guys taking an entire backpack full of money just to go and buy a fridge. The same in South America and the German government after the war, printing money till it had no value.

The USA is printing money like crazy when that filters down to the man in the street – paper money will have zero value – likewise every other bank assert/stock.

Link lists a few failed currencies. http://www.investopedia.com/slide-show/5-failed-currencies-why-they-crashed/

A good question the one respondent asked {Why is there no mention of the Italian lira, the Greek Drachma or the US's confederate dollars?}

During the 1929 crash unemployment was like 25%, if one considers all issue and number of persons on pensions and welfare I am sure it is already close to that before the crash. When Australia first introduce pensions only 20% of the population live to pensionable age now it is over 80%. Look at labour participation rate in the graph (above posts by DrHenley).

In 1929 most people still kept livestock chicken and cows etc. and every little town had their own abattoir/butchery. I saw a documentary like 80% of all beef is processed in a single factory in the US then transported across the country. We are heading for something the world has never seen before!!
 

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