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MN, USA
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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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Posted: 1/15/2002 11:59:54 AM EDT
Ammo, the currency of the new millenium.
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TN, USA
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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..
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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.
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TN, USA
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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.
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OH, USA
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Posted: 1/15/2002 12:35:40 PM EDT
Total crap. [:(!]
(Not you, Macallan; that was well said.)
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WI, USA
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Posted: 1/15/2002 12:49:04 PM EDT
Originally Posted By Cypher214:
Ammo, the currency of the new millenium. |
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Posted: 1/15/2002 12:53:31 PM EDT
Don't believe anyone who tells you a depression is coming, hell I don't even think we are in a recession. If your smart you would be buying blue chip stocks like crazy. Lots and Lots of money to be made over the fools who are selling right now [:D]
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TX, USA
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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.
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WI, USA
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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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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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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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WA, USA
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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.
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DC, USA
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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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USA
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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.
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MI, USA
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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. 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." 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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Posted: 1/16/2002 4:03:49 AM EDT
Everybody who says that the economy is recovering, and in fact may not be in that bad of shape is correct, I believe. I have seen two items of extreme interest in the last week:
1) An Article in Monday's Austin American Statesman in the TechMonday section about the various high technology projects that the Department of Defense is funding. They included a bionic suit for soldiers that augments strength and senses, and personal helicopter packs.
2) I can't remember exactly what it is, nor can I find the article I saw, but I saw a headline the other day about President Bush giving a private initiative to automobile companies to come up with alternative fuel vehicles.
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. That is because the technology is quite expensive to develop, and right now there is no guaranteed market for it. Because there is no guaranteed market, or any market at all, there is no refueling infrastructure to speak of, nor is there much knowledge on maintenance and repair of these vehicles.
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. To see what happens when everybody gets scared at the same time, review events circa 1929. Kinda scary when you think about it, but there is no better system, IMHO.
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USA
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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. That is because the technology is quite expensive to develop, and right now there is no guaranteed market for it. 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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CA, USA
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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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WA, USA
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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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WA, USA
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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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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.
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MI, USA
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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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VA, USA
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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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