United states heading for a depression??? Your Thoughts?

[Politicallore]

United states heading for a depression???
Read My stories here
PART 1
PART 2
PART 3[/B]

What do you think? Yes or no? Obviously Ron Paul is our only hope

Please stumble and digg the stories, and maybe share them with your friends?

 

[jasonoliver]

Nope.

 

[davver]

As an ex-Wall Street employee I can tell you things are very very bad. Most government economic statistics are lies. Things will be worse then 1929.

The only real debate is whether the depression will be inflationary or deflationary. Which makes a big difference in how you invest. Gold seems to do well in either case. I also hold diversified commodities right now.

Also, Citibank is bankrupt. Fannie and Freddie too. I suggest not keeping large sums of money in any of the big banks. You'ld be better off keeping physical money under your mattress.

Yen, Swiss Franc, Yuan are good currencies.

 

[tsetsefly]

no, just a recession...

 

[travismofo]

Read the Creature from Jekyll Island and you'll understand booms and busts. They are inevitable.

 

[evadmurd]

Yep. The correction has to take place. The very reason we need RP in there as someone that will act correctly, minimizing the length and effect.

 

[wgadget]

Buy gold, guns and seeds.

 

[Nihilist23]

If Ron Paul is not elected and monetary reform is not instituted soon, I believe a depression is inevitable, and it may be worse than 1929.

 

[jasonoliver]

As an ex-Wall Street employee I can tell you things are very very bad. Most government economic statistics are lies. Things will be worse then 1929.

The only real debate is whether the depression will be inflationary or deflationary. Which makes a big difference in how you invest. Gold seems to do well in either case. I also hold diversified commodities right now.

Also, Citibank is bankrupt. Fannie and Freddie too. I suggest not keeping large sums of money in any of the big banks. You'ld be better off keeping physical money under your mattress.

Yen, Swiss Franc, Yuan are good currencies.

That is all alarmist talk. I feel very comfortable with my money in major US banks.

The true wealth of any Nation is a function of the productivity of its people. We are 100's of times more productive than in the 1930's. Back then almost half of the population was involved in providing food for everyone else - now less than 2% handle that.

If anything, a downturn is an amazing OPPORTUNITY. Be like Potter from "It's a Wonderful Life"..........Everyone was selling and Potter was buying......

Many of Billionaires will be made from this downturn. Buffett is buying while everyone is selling. Now is the time to buy Real Estate especially.

 

[jasonoliver]

If Ron Paul is not elected and monetary reform is not instituted soon, I believe a depression is inevitable, and it may be worse than 1929.

Why do you think that? Every economic indicator is very strong. They even revised the Q3 GDP growth rate up to almost 5%!!!!!!!!!!!!!

Remember a "Recession" is 2 quarters of NEGATIVE GDP GROWTH. Now if they are revising figures towards HIGHER growth - we are not likely to experience even a recession, much less a depression.

 

[Shooterman]

Buy gold, guns and seeds.

Amen! And lot's of ammo. If the dollar collapses, as it seems it may do, the deflationary spiral will curtail and awful lot of the welfare vote buying schemes of Uncle Sugar Teat. The poor and near poor will certainly not take kindly to being abruptly removed from the teat, if if he/she may be sucking on the hind most one. I look for the Watts Riots to look like a Sunday School Picnic.

It will not matter how much 'liquidity' Helicopter Ben and his fellow criminals inject into the system.

 

[JenaS62]

Yes. Worse than 1929 I've heard some say. My family is already talking about how we can survive it (ie: whose house should we all move in to, who can make meals out of nothing, what things should we stockpile now, etc..)

 

[davver]

Why do you think that? Every economic indicator is very strong. They even revised the Q3 GDP growth rate up to almost 5%!!!!!!!!!!!!!

Remember a "Recession" is 2 quarters of NEGATIVE GDP GROWTH. Now if they are revising figures towards HIGHER growth - we are not likely to experience even a recession, much less a depression.

They get to 5% by saying the CPI deflator was 0.8%. An obvious lie.

Please follow these links:

www.shadowstats.com
www.nowandfutures.com

 

[Green Mountain Boy]

Why do you think that? Every economic indicator is very strong. They even revised the Q3 GDP growth rate up to almost 5%!!!!!!!!!!!!!

Remember a "Recession" is 2 quarters of NEGATIVE GDP GROWTH. Now if they are revising figures towards HIGHER growth - we are not likely to experience even a recession, much less a depression.

Yes, but our total debt is more than 330% of our current GDP and it is inflating exponentially.

 

[Green Mountain Boy]

 

[Delaware]

Definately, there will be a recession/depression.

 

[iskimtsnow]

I encourage everyone to read The books by Harry Dent. He stands pretty much alone in the field of demographic economics. His theroy is we are in for a recession/depresion like Japan has endured over the last 20 years. He bases this on the demographic trends. The baby boomers (the largest group in the us) will reach their peak spending around 2009-2012. As RP says the fed jacked up the housing bubble and now is pumping up the spending bubble. When it pops in 2010 the feds will do what they did in Japan and pump tons of money into a deflating system making that much harder to clean up all the bad credit and exploding the fed debt/deficit. Not to mention the unaccounted for liabilities of SS and medicare.

Reading Dent's first book really concinced me of the wisdom of his ideas. He called the 1990 with stunning clarity. I studied economics in college and nothing made as much sense as this. What is an economy but the sum total of all individual economic decisions. So by looking at the the largest group and their predictable behavior, you can intune what is going on in the economy and what is to come.

 

[davver]

That is all alarmist talk. I feel very comfortable with my money in major US banks.

The true wealth of any Nation is a function of the productivity of its people. We are 100's of times more productive than in the 1930's. Back then almost half of the population was involved in providing food for everyone else - now less than 2% handle that.

If anything, a downturn is an amazing OPPORTUNITY. Be like Potter from "It's a Wonderful Life"..........Everyone was selling and Potter was buying......

Many of Billionaires will be made from this downturn. Buffett is buying while everyone is selling. Now is the time to buy Real Estate especially.

Buffet isn't even in the US dollar. He exited it over the last several years. He is still bearish dollar.

America is not as productive as you think. There are pockets of productivity in new industries and technology, but the vast majority of our workforce has gotten less productive over the last 25 years. We sell off capital in order to consume. We don't have any manufacturing base. The productivity of labor input for your average worker is lower.

The "prosperity" of the last 25 years was based entirely on credit expansion. We need to grow credit Y-o-Y to keep things going. This is no longer possible. Existing debt can't be serviced and foriegners refuse to accept more of our dollars.

 

[davver]

I encourage everyone to read The books by Harry Dent. He stands pretty much alone in the field of demographic economics. His theroy is we are in for a recession/depresion like Japan has endured over the last 20 years. He bases this on the demographic trends. The baby boomers (the largest group in the us) will reach their peak spending around 2009-2012. As RP says the fed jacked up the housing bubble and now is pumping up the spending bubble. When it pops in 2010 the feds will do what they did in Japan and pump tons of money into a deflating system making that much harder to clean up all the bad credit and exploding the fed debt/deficit. Not to mention the unaccounted for liabilities of SS and medicare.

Reading Dent's first book really concinced me of the wisdom of his ideas. He called the 1990 with stunning clarity. I studied economics in college and nothing made as much sense as this. What is an economy but the sum total of all individual economic decisions. So by looking at the the largest group and their predictable behavior, you can intune what is going on in the economy and what is to come.

Demographic economics does seem like a very interest thing to study. Young countries usually have bright futures.

 

[Jodi]

As an ex-Wall Street employee I can tell you things are very very bad. Most government economic statistics are lies. Things will be worse then 1929.

The only real debate is whether the depression will be inflationary or deflationary. Which makes a big difference in how you invest. Gold seems to do well in either case. I also hold diversified commodities right now.

Also, Citibank is bankrupt. Fannie and Freddie too. I suggest not keeping large sums of money in any of the big banks. You'ld be better off keeping physical money under your mattress.

Yen, Swiss Franc, Yuan are good currencies.

I agree. There has already been a run on the banks in the UK a month or so ago and I think it could end it here as well.