The Next, Worse Financial Crisis

[CountryBoy]

Sorry to be gloomy, but there it is.

Why? Here are 10 reasons.

http://www.silverbearcafe.com/private/07.11/nextworse.html

We have even admitted or determined what caused the 2008 castatrophe and we sure haven't tried to solve the problem and giving trillions of dollars to banks, both foreign and domestic sure hasn't helped.

As the author said, sorry to be gloomy, but I believe in preparing for the worst and anything less, I'll be able to handle much better. Fore warned is fore are armed.

I don't care if you believe me or not. If you do have an idea of what is headed our way, I hope you are preparing for it by diversifying and not have everything in cash. Think no debt and hard, tangible assets, you actually can hold in your hand. (farm land, timber, PM's). That's why I'm retiring early, to get some sort of control of my money and invest somewhere besides the gov't. :notrust: For those that don't believe me, I could care less YOYO. Get outta debt ASAP, because debt will just make you chattel and the life you're trying to build can be taken at the whim of the banksters and gov't.

How do you think we are going to pay off this huge debt? We've already sold the Chi-coms portions of 3 states, Idaho, Michigan and I haven't been able to find out the 3rd state. You'll only see it mentioned 1 or 2 times anf then it dissappears. They sold the land in idaho, south of Boise and called it a Free Trade Zone. :laugh: Boise airport doesn't do that much international traffic and you don't need a FTZ that is large enough to fit a city of over 50K in it. I've worked on several licenses for FTZ's and they don't need to be anywhere near that size, especially in Idaho. How do you think we're paying off our debt to China? The same way the corrupt gov't and banksters are selling off Greece's assets.

Don't be the ostrich, with your head in the sand and butt in the air. BOHICA

Alarmist?, I sure hope so. Preparing for the worst? You bet. Folks we ain't going to get outta this mess scot free, there is gonna be a lot of pain and a major change in our and our children's life (I know some don't care about that, cause you've allude to it). Each to his/her own. I don't care, but our quality of life is in for a major change. It's a challenge and I don't plan on suffering anymore than I have to, because I just sit back and let that hope and change protect me. :laugh:

I know I'm pushing on a rope, but it's hard to just sit here and at least not try and give ya some idea what we could possibly be facing. As for me, I'm going to retire to my debt free refuge and watch the SHTF.

Good Luck,

CB

 

[James48843]

Brought to you by a Glenn Beck fan, obviously.

News flash- The world ISN'T about to end, and yes, America is the greatest nation on earth.

 

[malyla]

LOL :laugh:

Don't drink the cool-aid CB. Although, if you are right there will likely NOT be anyone around here to tell you so as they will all be running for cover....

I have been seeing more and more apocalyptic predictions lately which always happens in an economic downturn. I am still waiting for that nut who predicted the rapture to be right. I could really use a new car, well previously owned but new to me car :toung:

 

[Scrappy]

Sorry to be gloomy, but there it is.


I know I'm pushing on a rope, but it's hard to just sit here and at least not try and give ya some idea what we could possibly be facing. As for me, I'm going to retire to my debt free refuge and watch the SHTF.

Good Luck,

CB

CB, you and I are the type that would have been telling people for years that if a hurricane hits Louisiana the damn would break and New Orleans would flood.

Strangely and unfortunately warning/advice based on facts fall on deaf ears. People commonly can't/won't accept the reality of anything they consider "gloom and doom" so they group together in denial............When Katrina arrives anything you have forewarned is long forgotton and worthless information. And the cycle continues until in our economic situation we become Greece. :worried:

I might be coming back to Ohio in the near future. I have an Aunt in Athens (Ohio) that may not be around much longer. I will PM if it looks like I am headed that way.

Scrappy

 

[Happy_Trails]

Regulation of the banking industry seems to be a taboo item for both democrats and republicans. Inside Job and Too Big To Fail both cover the problems very well, especially Inside Job. I would highly recommend both of these.

 

[Silverbird]

Looking at the analysis, it appears if we brought back Glass-Steagal we would avoid this next cited financial crisis. Regulation of the banking industry, well, I think the approach has been a bit strange - with the debit card fee issue coming first, but it can happen - banks are screaming on this one and spending lots of money on advertising and they did get the cap changed, but there still is a cap.

As for the other things happening at the same time, how about the leasing of federal land for oil development (as if it was the same as ranching)? Federal land has always been a problematic item.

 

[CountryBoy]

Sounds good on the PM Scrappy, we could meet somewhere for a meal and you'll be able to judge for yourself if I'm the wack job folks think I am. :laugh:

I don't care what folks think about me or what I think. I thought the article had some interesting points, but they'd rather kill the messenger. Lets see, based on what I think will happen, I have no debt, new roof, new AC/Heating, new windows and new siding and 40 acres of woodland and timber. That's just the superficial preps.

If the evidence of the past 3 years and todays unemployment figure have me thinking that we may be in for some hard times and my priorities put me in the position I am now, well I'll take that anytime. I'd love to hear others positions and how they got there, because I'm always open on how to better prepare for hard times, but then maybe most don't think we are not in for hard times. I hope they are right, but either way, I feel good about the position I've put myself in.

I know it's falling on deaf ears, so I'm assuming that they believe we walk away from this unscathed and either don't have to prepare or are better prepared than I am. PM me if ya come up this way, cause I won't be posting again, because of all the know it alls and the way they have put thems elves in a great position to weather the maybe bad times coming. Things haven't changed at all. I thought they might have changed somewhat. Everyone still has the same opinion. After getting away from the hubris, and yeah I was a big part of it, I've come to realize thru researching and study that both parties have the same final goal, just different approaches in getting their. I don't know what I was thinking believing that folks have researched what we are going thru and realize we've been scammed since at least 1913. So I'll not waste my time or breath trying to explain my POV, deaf ears and all.

No need to tell these folks GL, cause they're in better shape than me.

See ya around the food lines. Good luck to you Scrappy and my friends who realize that both parties are just as bad.

CB

 

[grandma]

Hey CB - it is good to hear from you, and to realize that you have followed through with your goals.
Other than be debt free, including your home, there isn't much else some of us can do; and Dave Ramsey along with multitude of others have been pushing that for quite some time....
-talk to you later - grandma

-are you answering your pm's?

 

[tsptalk]

Brought to you by a Glenn Beck fan, obviously.

News flash- The world ISN'T about to end, and yes, America is the greatest nation on earth.

I hope the premise is wrong, but there's nothing wrong with being out of debt and owning some hard assets. As they say, better safe than sorry. They said the Titanic was unsinkable. Better bring a life preserver - just in case.

 

[James48843]

I hope the premise is wrong, but there's nothing wrong with being out of debt and owning some hard assets. As they say, better safe than sorry. They said the Titanic was unsinkable. Better bring a life preserver - just in case.

Not to worry. If things get really, really bad, I know this guy who owns an art shop out west that we can all go hang out.

 

[FAB1]

So is it stupid to have money in the bank? What if I owe a mortgage? What hard assets should I obtain?
I am not being sarcastic I would like to know. I have very little cc debt, no car payments. And I dont trust
politicians further than I could throw one - so I am not wearing blinders concerning this subject.

 

[jpcavin]

So is it stupid to have money in the bank? What if I owe a mortgage? What hard assets should I obtain?
I am not being sarcastic I would like to know. I have very little cc debt, no car payments. And I dont trust
politicians further than I could throw one - so I am not wearing blinders concerning this subject.

Here you go....Just stash your money offshore.
http://themoneyfile.com/2010/08/29/the-best-countries-to-stash-your-cash/

 

[tsptalk]

Not to worry. If things get really, really bad, I know this guy who owns an art shop out west that we can all go hang out.

It's a deal! I don't have food storage (although we did add a small cafe) but we'll have lots of art and antiques to enjoy. It will be a cool place to hang. We also got our beer and wine license so we'll be all set.

 

[CountryBoy]

Sure Grandma,

I'll always answer PM's from my friends, that's the only reason I'll be visiting this site. Obviously other POV's from sources outside the US MSM are ridiculed. If they would take the time to look at the background of the author's they would see these people are not some crackpot, but some have actually worked for the MSM.

I expected the ridicule from some of the folks, cause that is right out of Sal Alinsky's playbook, polarize and ridicule the poster, but I'm dissappointed in one person who joined in on the type of petty response. That's fine, as I've said, my research has brought a whole new outlook on our political system and the scam they have been running on us for decades. It's all history, no one made it up, but apparently all are ignoring it, because views are still the same and the tired old arguments are still being debated.

I've tried to better myself by researching the history of the numerous reincarnations of the federal reserve, the Rothchild's et al view of the world and what the elites would like to do to the main street people. These people aren't trying to hard to hide there distain for us and that we are only good for the most menial of jobs. They want to have the power to select what people will be trained for each job. This group has even stated this several times and we ignore these people at our own risk. These people are the richest and most powerful folks in the world and they control politicians all over the world.

This destruction of the world economy isn't by accident. A lot of people do know better, particularly at the Treasury Department and the Federal Reserve. They deliberately are setting a policy of keeping interest rates far below market, therefore the pension funds of our country and others countrys are being systematically destroyed as a matter of federal policy. Peoples retirement pension depends a lot on the interest rate being higher. So much for compounding interest rates. :laugh:

In other words, the feds are more than willing to throw every state government "under the bus" and destroy their long-term financial prospects, as long as it serves the interests of the federal politicians currently in power. This is a bi-partisan consensus, as it truly kicked into gear with a Republican administration and is being taken to all new levels by a Democratic administration, when it comes to massive monetary interventions to keep interest rates and asset prices at artificial levels.

Anyhoo Grandma, I will visit the site daily for PM's, since I have received several since I came back, but I'll keep my thoughts to myself, since I have better things to do than to try to educate the close minded or opine/submit a different POV that runs against the typical Reps vs Dems. As I've said before, the elites want this fighting amongst ourselves, becaue it takes the spotlight off of them.

If I could change my outlook, I figgered others could by now and would've have gotten tired of beating the same dead horse and try to research how we got in this position. The Government has yet to address the problems that got us here starting in 2008.

So take care of yourself and I'll be talking atcha later,

CB

Hey CB - it is good to hear from you, and to realize that you have followed through with your goals.
Other than be debt free, including your home, there isn't much else some of us can do; and Dave Ramsey along with multitude of others have been pushing that for quite some time....
-talk to you later - grandma

-are you answering your pm's?

 

[MrBowl]

I tried to post awhile ago, but I think I got timed out.

Both parties are more similar than different, and I see people so rabidly partisan as pawns in a fool's game.

Sure things look bad economically on a local, state, national, and global scale. I doubt that each economic element comes to a head at the same time, so the people who run the show tackle these issues in a "robbing Peter to pay Paul" style in hopes that they can put off the inevitable until its no longer inevitable. I think the lesson that I've learned is that the people in charge have learned how to eternally kick the can down the road, and I see it daily in local, state, national, and global news stories.

I'm not interested in stocking my bunker and sitting on the sidelines waiting for the catastrophe that doesnt seem to ever happen. I'm going to try and live daily life and make gains, and I hope that my diligence will lead to me make well timed moves as situations warrant.

So, CB, I don't think you're wrong about what you see. I just think these problems will be dealt with one by one and we'll get long-term ugliness rather than an abrupt economic disaster.

 

[tsptalk]

but I'm dissappointed in one person who joined in on the type of petty response. That's fine,

I don't know if you're talking about me, CB. I guess my comment may have seemed insensitive but it wasn't my intent. I was just trying to lighten the mood a little because I have seen time and again how this conversation can get out of hand. Sorry if it came across wrong.

 

[James48843]

LIFE IS JUST A BOWL OF CHERRIES (Jack Hilton, 1931).



Life is just a bowl of cherries.
Don't take it serious; Life's too mysterious.
You work, you save, you worry so,
But you can't take your dough when you go, go, go.

So keep repeating it's the berries,
The strongest oak must fall,
The sweet things in life, to you were just loaned
So how can you lose what you've never owned?
Life is just a bowl of cherries,
So live and laugh at it all.

 

[grandma]

LIFE IS JUST A BOWL OF CHERRIES (Jack Hilton, 1931).

You do mean Jack Hylton, right?

 

[Buster]

You do mean Jack Hylton, right?

Maybe he was thinking of Paris Hilton

 

[Show-me]

That bowl of cherries is loooonnnggg gone. lol

Maybe he was thinking of Paris Hilton