Stocks: Market Crash Looming

[denison]

This might sound crazy and sick, but I'm kind of excited. It's horrible what will happen to the life savings and earnings of millions of people, but this is a once in a millennium opportunity to witness the fall of an economic superpower.

Quoted for truth. This is EXACTLY how I feel. At least everyone's debt will be wiped clean.

 

[squarepusher]

you guys think having money in bank account, or stocks, could be wiped out soon? so its an all or none move to physical PM's soon?

 

[Carson]

Since the government has been spending money it doesn't have shouldn't the stock market appear to go up with the devaluation of the dollar.

I heard someone on the the news say it was up in relation to the value of the dollar and some other currency's valuation being down but holding steady in relation to the price of gold.

I wrote the following a while back a think maybe it sort of applies here.




OpEdNews

Original Content at http://www.opednews.com/articles/Why-Freedom-and-fiat-curre-by-Carson-Dugal-090718-542.html

July 18, 2009

Why Freedom and Fiat Currency Can't Coexist.

By Carson Dugal

There is a basic fundamental reason why freedom cannot flourish as long as people are allowed to create fake money.

Take a look at the way the hidden tax of inflation has warped our view of the world. The first chart is of the Consumer Price Index.

For years every raise that came, I thought I was getting ahead. Looking at this chart I can see I was sadly mistaken.

Take the stock market and the feeding frenzy there.

Over the years the news has said that because of this, or that, the market responded up or down. Never once did they tell us that it went up because the value of money went down because someone in the government decided to print money it didn't have, and deflated the value of the real hard-earned money people had in their pockets or in their savings accounts.

Now take for instance the new push by those that have no money wanting to redefine the health care system. The people that have money have done their best, despite the interference of others, to create the system we now have. We pay cash or use insurance. It has been brought about in large part with real hard earned money.

Those who don't have any money have started the presses rolling to get money to their front organizations to sell us on their new plan. The president says the new plan will cover every one. That will be quite a burden on those few left working to foot the bill, especially with open borders. It will be quite a score for those that run organizations like the Federal Reserve or those that owe their jobs to obedience to lobby groups or others.

Inflation created with fiat money is a hidden tax. Not only have we been burdened with all of the other taxes (businesses don't pay taxes they only pass them on to consumers) we have also been burdened with a lot of new rules.



Is it any wonder it is no longer profitable, to try and be profitable, and so many have left work and went home?



Author's Bio: A concerned citizen.

 

[Isaac Bickerstaff]

Quoted for truth. This is EXACTLY how I feel. At least everyone's debt will be wiped clean.

Makes me sick. Be prepared to see some VERY pissed off people who, instead of going into debt, actually decided to work for a living, live within their means, save up for what they needed and stayed out of debt. They will be hit much harder than the losers who could not figure out that spending money that you don't have is a bad thing.

This bullshit system could never have lasted so long and enslaved so many people if all those shortsighted fools had just stayed the hell out of debt.
Here, I will simplify for all those shortsighted fools:

Money based directly on productivity = good, enjoy prosperity.
Money based on debt = bad--do not use!

If you cannot find money based on productivity, go directly your congressman with tar and feathers in hand.

 

[ChooseLiberty]

Freaky if the market just topped out...

 

[Cowlesy]

I think tomorrow is going to be interesting.

 

[ChooseLiberty]

That was my 2001st post.

Very auspicious!

Now, back to your regular programming.

Freaky if the market just topped out...

 

[ChooseLiberty]

Today was supposed to be a sleepy holiday market.

I think tomorrow is going to be interesting.

 

[Original_Intent]

I think tomorrow is going to be interesting.

I have heard both the 12th and the 25th (a Sunday???) are supposed to be "big events" this month.

 

[ChooseLiberty]

potential dump in progress.

Intel earnings in PM.

 

[Sarge]

No one is talking about this one that comes out at 2.

http://www.bloomberg.com/markets/ecalendar/index.html

I am guessing tax receipts were down therefore deficit up.

 

[LDA]

Quoted for truth. This is EXACTLY how I feel. At least everyone's debt will be wiped clean.

Okay, for one, is this actually true? How will everyone's debt be wiped clean? The interest rates on risky loans are going to get jacked up, to adjust for inflation, and won't those debts just get worse?

If that isn't the case, and everyone's debt will be wiped clean, wouldn't it be a good idea to go out and buy whatever you could possibly need, even if it means going in debt? It's going to be wiped clean, right?

Finally, how is everyone's debt being wiped clean an "at least"? That's a terrible, terrible thing, if true. That means people spent money they didn't have and won't be held accountable for it. People that were responsible won't benefit; they'll be in the same exact position as people that did accumulate massive debt, except they won't have anything to show for it.

 

[Original_Intent]

Eventually, people who keep getting shafted for "playing by the rules" are going to go postal.

 

[ChooseLiberty]

Good one.

Watching bonds and the $USD.

No one is talking about this one that comes out at 2.

http://www.bloomberg.com/markets/ecalendar/index.html

I am guessing tax receipts were down therefore deficit up.

 

[Sarge]

Thank you.

I am afraid we might be headed in this direction,

http://www.bloomberg.com/apps/news?pid=20601086&sid=aRArKQlsc06A

 

[tmosley]

Eventually, people who keep getting shafted for "playing by the rules" are going to go postal.

That is what starts and maintains meaningful revolutions.

 

[Sarge]

The sneaky bastards removed the tax receipts and debt today that I posted earlier this am. They don't want it showing up. Now I am going to have to dig for it. They had it to be showing up at 2PM ET today.

Choose Liberty saw it on my post and commented.

 

[Sarge]

Here it it,

http://www.finfacts.ie/irishfinancenews/article_1018083.shtml

Note this was not the final which today should have been. Worse?

 

[Sarge]

Anyone see a problem brewing here?

http://www.treasurydirect.gov/govt/charts/charts_expense.htm

http://www.treasurydirect.gov/govt/charts/charts_debt.htm

http://www.treasurydirect.gov/govt/reports/pd/mspd/2009/opds092009.pdf

 

[Sarge]

The monthly statement for Sept is suppose to be up it is not posted yet. They can stall but it has to be posted.