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3/20/2017 5:03:23 PM
Posted: 1/15/2002 11:54:34 AM EDT
Ok i hvae a bud who,s Father is a retired Teacher, He Has a Papar that is sent to him each month CalleD the Underground Wallstreet. According to this paper with in 2 years to 5 years we will be in a major depression. lasting up to 10 years and als osays that are US currency will be worth 10Cents on the dollar. Als oi t is predected to have a stock market crash in the next few months. So what is your opinion on this Truth or What? maybe TSWHTF?
Link Posted: 1/15/2002 11:59:54 AM EDT
Ammo, the currency of the new millenium.
Link Posted: 1/15/2002 12:03:12 PM EDT
wishful thinking by millenarians who stockpiled gold, hoping the economy would collapse and they could be kings..
Link Posted: 1/15/2002 12:23:59 PM EDT
Remember the book "Bankruptcy 1995: The Coming Collapse of America and How to Stop It" by Harry Figgie? Written in 1993. As one reviewer writes... "This book predicts that, if current practices continue, the United States government will be bankrupt by 1995." [rolleyes] I think lurker hit the nail on the head. Too many people bought gold at over $400/oz ten years ago and watched it drop to $275 where it's been languishing for years. Now they can't get rid of it. Hoping for an economic collapse to make their stockpiles worth something to SHTF survivalists. Well, if the SHTF, a dozen K-rands are NOT going to be enough to buy .223s, fresh water or a bottle of imodium. Someone once said that the best survival rations are bullets and beans. Very useful, necessary, and can be easily traded in varying amounts like cash.
Link Posted: 1/15/2002 12:32:48 PM EDT
I have seen and heard several "experts" forecast that the Dow was on course to hit 4k or even 2k, 'depression' level would be about 6k. I think the stock market doomsdayers are full of B.S. We might slip a little bit more but on the whole I don't think we'll see a large scale depression due to Europe's economic climate at the moment.
Link Posted: 1/15/2002 12:35:40 PM EDT
Total crap. [:(!] (Not you, Macallan; that was well said.)
Link Posted: 1/15/2002 12:49:04 PM EDT
Originally Posted By Cypher214: Ammo, the currency of the new millenium.
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WOW that is great. I will be ritch for the first time in my life them. America the fallen but will get back up....... [50]
Link Posted: 1/15/2002 12:53:31 PM EDT
Link Posted: 1/15/2002 12:55:51 PM EDT
Well if something does not happen fairly soon I will be forced to trash my Y2K store of food. What am I suppose to do with the 25 gallons of vinegar? What about my 300 lbs of charcoal and my Volcano stove? With my luck the economy will pick up and things will be fine.
Link Posted: 1/15/2002 12:59:14 PM EDT
[b]Originally Posted By bybon: Well if something does not happen fairly soon I will be forced to trash my Y2K store of food. What am I suppose to do with the 25 gallons of vinegar? What about my 300 lbs of charcoal and my Volcano stove? With my luck the economy will pick up and things will be fine.[/b]
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What the hell were you thinking in the first place?????[BD]
Link Posted: 1/15/2002 1:01:43 PM EDT
Originally Posted By bybon: What am I suppose to do with the 25 gallons of vinegar?
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Color a billion Easter eggs. [:D]
Link Posted: 1/15/2002 1:05:00 PM EDT
Originally Posted By Superfly: Ok i hvae a bud who,s Father is a retired Teacher, He Has a Papar that is sent to him each month CalleD the Underground Wallstreet. According to this paper with in 2 years to 5 years we will be in a major depression. lasting up to 10 years and als osays that are US currency will be worth 10Cents on the dollar. Als oi t is predected to have a stock market crash in the next few months. So what is your opinion on this Truth or What? maybe TSWHTF?
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Super, Bullschittt is bullschittt whether in writing or spoken. There are many papers/publications such as this one and all predict doom and gloom and usually well into the future. Next time you and your 'bud' catch some fish use this paper to wrapem.
Link Posted: 1/15/2002 11:20:15 PM EDT
I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one). I still don't know if it is or not, but I found this review: [url]http://www.thesecurityblanket.com/tradingideas/wallstreetunderground.htm[/url] Sounds like the editor of Wall Street Underground is also a scumbag.
Link Posted: 1/16/2002 12:21:59 AM EDT
Originally Posted By 71-Hour_Achmed: I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one). I still don't know if it is or not, but I found this review: [url]http://www.thesecurityblanket.com/tradingideas/wallstreetunderground.htm[/url] Sounds like the editor of Wall Street Underground is also a scumbag.
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71, Not trying to be combative or anything but why do you have such a hard-on for Gary North? I remember you saying something about capital punishment for adultery (I think) but could you give me some concrete links to this. I have read quite a few articles of his on inflation, the Fed-Res and the gold standard and they seem logical, informative and well thought out. As it stands I have no problem with him, but if you can show me why I should I would appreciate it. BTW- according to the link you just posted it seems that the WSU editor is quite possibly a fruitcake on the short list for some alphabet soup agency visitation. Thanks for any info in advance.
Link Posted: 1/16/2002 12:28:40 AM EDT
I have been in a deep depression for years. Just look at what it has done to me, and that is what you all have to look forward to.
Link Posted: 1/16/2002 2:08:21 AM EDT
Originally Posted By bybon: Well if something does not happen fairly soon I will be forced to trash my Y2K store of food. What am I suppose to do with the 25 gallons of vinegar? What about my 300 lbs of charcoal and my Volcano stove? With my luck the economy will pick up and things will be fine.
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I'm sorry to hear that. It's just terrible that some disaster didn't befall the rest of us. At least you would've been fine! For a while...
Originally Posted By The_Macallan: Remember the book "Bankruptcy 1995: The Coming Collapse of America and How to Stop It" by Harry Figgie? Written in 1993. As one reviewer writes... "This book predicts that, if current practices continue, the United States government will be bankrupt by 1995."
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Remember this classic: Surviving the Great Depression of 1990 by Ravi Batra ? To be followed by such catchy titles as: Stock Market Crashes of 1998 & 1999 : The Asian Crisis & Your Future by Ravi Batra - and - The Crash of the Millennium : Surviving the Coming Inflationary Depression by Ravi Batra If at first you don't succeed, try, try again. Over a million people can't be wrong!
Originally Posted By 71-Hour_Achmed: I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one).
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WTH is the connection there?!? Whenever there's some kind of gloom and doom newsletter, he comes to mind?
Link Posted: 1/16/2002 4:03:49 AM EDT
Link Posted: 1/16/2002 4:37:50 AM EDT
It seems to me that in recent years, every really major innovation that comes about, does so because the government spurred private industry along with a goodly amount of research money.
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Can you give us three examples?
That is because the technology is quite expensive to develop, and right now there is no guaranteed market for it.
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It might also be because the government has grabbed such a large share of the economy that there isn't much private capital available.
For those of you haven't really studied the economy, I have something for you. I don't know what the right word is, but this economy is a faith based system. That means that The belief of the people in the resiliancy and efficacy of the economy is required for it to be resiliant and effective. That is ALL that is holding the economy up - the faith of the people.
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"The faith of the people" is all that has ever held up ANY economy. In 4000 BC, if Oog wasn't confident that Grock would dig the irrigation ditch, he wouldn't bother planting the seeds. And vice versa.
Link Posted: 1/16/2002 5:47:03 AM EDT
Originally Posted By kikomax:
Originally Posted By bybon: What am I suppose to do with the 25 gallons of vinegar?
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Color a billion Easter eggs. [:D]
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that is so funny
Link Posted: 1/16/2002 9:50:31 PM EDT
Originally Posted By Invictus:
Originally Posted By 71-Hour_Achmed: I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one). I still don't know if it is or not, but I found this review: [url]http://www.thesecurityblanket.com/tradingideas/wallstreetunderground.htm[/url] Sounds like the editor of Wall Street Underground is also a scumbag.
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71, Not trying to be combative or anything but why do you have such a hard-on for Gary North? I remember you saying something about capital punishment for adultery (I think) but could you give me some concrete links to this. I have read quite a few articles of his on inflation, the Fed-Res and the gold standard and they seem logical, informative and well thought out. As it stands I have no problem with him, but if you can show me why I should I would appreciate it.
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"Wired" wrote up a good summary of Gary North and his movement, a group of fellow-travelers known as "Christian Reconstructionists". Type that term into a search engine and you will get quite a few pages to see what they are about. Gary in particular seems to have this schtick down of trying to fan the flames of panic in an attempt to bring on a collapse, so that he and his buddies can institute their own religious government here in the U.S. They are, at the risk of sounding like a walking cliche', quite literally the "Taliban wing" of American politics. The "Wired" article is here: [url]http://www.wired.com/news/print/0,1294,17193,00.html[/url]
Link Posted: 1/16/2002 9:57:16 PM EDT
[Last Edit: 1/16/2002 10:42:07 PM EDT by 71-Hour_Achmed]
Originally Posted By shooter69:
Originally Posted By 71-Hour_Achmed: I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one).
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WTH is the connection there?!? Whenever there's some kind of gloom and doom newsletter, he comes to mind?
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For me, basically, yeah. Sorry about that, man. BTW, from what I can recall, this is exactly the second time in the history of this board that I have mentioned Gary North. It's not like I bring him up on a daily basis or anything.
Link Posted: 1/16/2002 11:05:52 PM EDT
We're not going into an economic depression. People think THESE are hard times? The unemployment rate is what? not even 6%! The early 80's were way harder. What's happening is what I predicted as an undergraduate economics student. Pundits were saying that the business cycle had been tamed, in 1997. We would see nothing but growth, no economic contraction. I said, even if these pundits were right, a relative slowdown in growth would be perceived economically as a recession as new standards took hold. The Great Depression was created by the Fed refusing to create money, resulting in deflation and 25% unemployment. While today;s recession was caused by the Fed's draconian tightening of the money supply and interest rates, they are doing everything they can to alleviate this overstep, flooding the economy with liquidity and low interest rates. On top of the 30's Fed tightening money, they had a Congress that enacted all sorts of laws to kill international trade and harshly regulate the financial industry. Except for Daschle/Kennedy's idiotic and political position that tax cuts caused the recession, we don't see that today. I think we'll have at least another year of economic malaise, but it'll look like a party compared to the 9 years of the Great Depression.
Link Posted: 1/17/2002 1:21:49 AM EDT
Originally Posted By 71-Hour_Achmed:
Originally Posted By shooter69:
Originally Posted By 71-Hour_Achmed: I thought I'd look up the newsletter to see if it was affiliated with Gary North (a prime scumbag if ever there was one).
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WTH is the connection there?!? Whenever there's some kind of gloom and doom newsletter, he comes to mind?
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For me, basically, yeah. Sorry about that, man.
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Whatever floats your boat. I mean, yeah, he's an arrogant jerk, and even knowing a little bit about his activities I didn't see the link. I would think with Bush in, that he wouldn't be preaching gloom and doom. I get a lot of solicitations for these type of newsletters and the vast majority are total hype and published by people with a serious lack of credentials. I remember one where this bozo stock market "guru" said he had bought some stock AT A PRICE IT HAD NEVER TRADED, making a killing, and hey, you could too! Thing was he didn't realize that he was looking at a split adjusted chart when he picked out the stock for his bogus example (to demonstrate his financial genius). There's an endless number of these scamsters. And most of the ones that are somewhat knowledgable don't actually trade! They don't advertise that fact though :)
Link Posted: 1/17/2002 3:46:21 AM EDT
I saw an old man with white beard wearing a sign "The End is Near". Hope he is not the editor of that Underground Wallstreet Journal. He! He! He! But to be on the safe side, I am stockpilling those new One Dollar gold plated coins.
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