[callihan_44]

http://finance.yahoo.com/blogs/break...155504860.html

we knew this wasnt over yet

[Bolster]

Dollars to donuts, it won't happen until AFTER the election.

Then we can get back to blaming George Bush for all the problems in the world.

Remember, B.O. says that the private sector in the USA is "fine," that it's the pensions of the gov't employees we must worry about. That, and giving away more food stamps.

[cowboy1964]

You'd have to be dumber than Barney Frank to not see what's coming.

I did notice that Schiff didn't specify a time frame.

[PettyOfficer]

Originally Posted by cowboy1964

I did notice that Schiff didn't specify a time frame.

Didn't you learn anything from Nostradamus?

First rule of predictions is to never provide a timeframe.

440-some years after his death people are still believing what he predicted is coming true.

[Bolster]

I predict this thread will end badly.

[PettyOfficer]

Originally Posted by Bolster

I predict this thread will end badly.

.... Sometime in the future

[TangoFoxtrot]

Originally Posted by PettyOfficer

.... Sometime in the future

....Not just sometime.... but anytime!

[kirgi08]

tagged.

[Bilbo Bagins]

I have been hearing about that January 2013 austerity cuts in government spending coming down the pike. That is going to hurt bad, especially for those in that whole Maryland/DC/VA bubble where residence have been somewhat sheltered by the bad economy the last 4 years. Bytch about the public sector all you want, but if the Private sector is already floundering, having 15% cuts in every department including the military, and approx 2 million jobs lost will not help the overall ecomony and everyone will suffer.

The massive drought we are having will not help either. It means higher food prices, and higher fuel prices thanks to a bad corn crop and Ethanol.

Not to get too political, but things will be MUCH worse if Obama wins a 2nd term. Not that Romney is a business and economic genius, but I think he will instill confidence and he will have a better plan.

Obama wasted stimulas money on corporate pals and union work crews to build curb cuts, and repaving roads. Having that happen again in 2013 will not be good for the economy.

[rwrjr]

Originally Posted by Bilbo Bagins

I have been hearing about that January 2013 austerity cuts in government spending coming down the pike. That is going to hurt bad, especially for those in that whole Maryland/DC/VA bubble where residence have been somewhat sheltered by the bad economy the last 4 years. Bytch about the public sector all you want, but if the Private sector is already floundering, having 15% cuts in every department including the military, and approx 2 million jobs lost will not help the overall ecomony and everyone will suffer.

Yes public sector cuts will hurt but they will be the beginning of fixing the mis-allocation of resources that's been going on for 30+ years. For every dollar spent on the public sector it must be taxed from the private sector. Or borrowed/printed which has their own issues and are really just a stealth tax. There is no free lunch. Maintaining the bloated public sector solves nothing, it's just another form of kicking the can down the road. Remember the public sector produces nothing. The public sector is largely parasitic. The public sector stifles growth and innovation. Some much smaller amount is necessary, the rest not so much. This includes defense.

It really comes down to taking your medicine now or later. The more politically palatable position is later but all that does is magnify the problem and make the correction that much more severe.

BTW, I'm in the DC area and I know that the coming cuts will negatively hurt me and mine but they must happen if we're ever going to have a chance to come out the other side and begin to grow again. The beast simply must be starved and put back into a much smaller box.

[uhlawpup]

Let's see here...

Dollar will be weak. We can't buy imports.

Other currencies will be strong. They will buy what we have to sell, especially food, a renewable resource.

Increase in exports will mean increased jobs for people who want to work. People who don't want to work will starve and not procreate.

Wow.

Should I be worried?

[rwrjr]

Originally Posted by uhlawpup

Other currencies will be strong. They will buy what we have to sell, especially food, a renewable resource.

Why will other currencies be strong? And why to you assume that they will have surplus currency to buy what we're selling? Do you have analysis to back up those two huge assumptions? Europe is going down the toilet, we're next. The Chinese are right behind both and Japan is DOA. When ALL of the major economies tank they will take the rest of the world with them. There will be wars over food and essential commodities/resources before we come out the other side of this mess.

[Bolster]

Originally Posted by Bilbo Bagins

...things will be MUCH worse if Obama wins a 2nd term. Not that Romney is a business and economic genius, but I think he will instill confidence and he will have a better plan...

Compared to B.O., Romney's a qualified financial genius. Although that could be said about pretty much anyone, in comparison to B.O., who is remarkably unqualified to do just about anything, other than read a speech from a teleprompter, "appear confident," make sports analogies, and look up handy solutions in the big book of Marxism.

We have one of most economically ignorant presidents ever, and we're worried about the qualifications of his opponent, who's spent his life in finance?

[PocketProtector]

When OMao is kicked to the curb, the economy will turn on like a light switch.

[cowboy1964]

Originally Posted by Bolster

We have one of most economically ignorant presidents ever, and we're worried about the qualifications of his opponent, who's spent his life in finance?

Well said. If Romney can't win this.... biggest loser EVER.

[Smacktard]

Originally Posted by PocketProtector

When OMao is kicked to the curb, the economy will turn on like a light switch.

...

[TangoFoxtrot]

Originally Posted by Bilbo Bagins

I have been hearing about that January 2013 austerity cuts in government spending coming down the pike. That is going to hurt bad, especially for those in that whole Maryland/DC/VA bubble where residence have been somewhat sheltered by the bad economy the last 4 years. Bytch about the public sector all you want, but if the Private sector is already floundering, having 15% cuts in every department including the military, and approx 2 million jobs lost will not help the overall ecomony and everyone will suffer.

The massive drought we are having will not help either. It means higher food prices, and higher fuel prices thanks to a bad corn crop and Ethanol.

Not to get too political, but things will be MUCH worse if Obama wins a 2nd term. Not that Romney is a business and economic genius, but I think he will instill confidence and he will have a better plan.

Obama wasted stimulas money on corporate pals and union work crews to build curb cuts, and repaving roads. Having that happen again in 2013 will not be good for the economy.

Not to start a political debate here, I agree with you to a point. but the fact is "BUSH" started the stimulas(socialistic) bailouts and did nothing for the economy for 8 yrs. Oh but he is always let off the hook!... and no I'm a Republican but not blind. Rant off sorry.

[Bren]

I just want a collapse big enough that I don't have to pay back my mortage. I don't care if it's because of the economy, zombies or an alien invasion. I like the zombie idea best.

[coastal4974]

The financial collapse is required for the constitution to be replaced with something that is not so restricting on a socialist based gubmint.

[BudMan5]

A couple of years ago, the Euro was worth $3.00 USC, now it's down to $1.22. Spain has announced they are out of money:

Spain out of cash

and the World Bank believes that Europe's crash will take down everyone:

World Bank Chief issues warning

and the US Post Office will default on August 1:

Wall Street Journal

Anybody that doesn't actually prepare for what might happen is a fool. But it is beginning to appear more than likely that some horrendous times are coming for all us.

Everyone should read FerFal's narrative of whart happened in Argentina when their economy collapsed in 2001. He talks about what his family had to do and how bad things got when their moiney no longer bought anything:

FerFal: Surviving Economic Collapse

If you don't believe it can happen here, talk to any 80 year old American and ask them what the years 1930-1941 were like.

[Glock30Eric]

Originally Posted by BudMan5

A couple of years ago, the Euro was worth $3.00 USC, now it's down to $1.22. Spain has announced they are out of money:

Spain out of cash

and the World Bank believes that Europe's crash will take down everyone:

World Bank Chief issues warning

and the US Post Office will default on August 1:

Wall Street Journal

Anybody that doesn't actually prepare for what might happen is a fool. But it is beginning to appear more than likely that some horrendous times are coming for all us.

REveryone should read FerFal's narrative of whart happened in Arhentina when their economy collapsed in 2001. He talks about what his family had to do and how bad things got when their moiney noi longer bought anything:

FerFal: Surviving Economic Collapse

If you don't believe it can happen here, talk to any 80 year old American and ask them what the years 1930-1941 were like.

Less than 1% of Earth will listen to your message, which it is very sad.

[Bilbo Bagins]

Originally Posted by TangoFoxtrot

Not to start a political debate here, I agree with you to a point. but the fact is "BUSH" started the stimulas(socialistic) bailouts and did nothing for the economy for 8 yrs. Oh but he is always let off the hook!... and no I'm a Republican but not blind. Rant off sorry.

I agree totally. Also if you look at the history of government bailouts of American Companies with the exception of Obama, every president who offer them where Republican.

http://www.propublica.org/special/government-bailouts

Honestly though I agree with some of it. We did almost have a complete meltdown in 2008/2009 and while money was wasted in some case on BS, some money when to the right place and prevented a total collapse.

I remember way back in 2009 though someone gave a suggestion that I still think is brilliant and would work today to stimulate the economy and lower the debt.

As a one time jolt, give every US citizen a check for One Million Dollars, tax free. Every man, woman, and child

It would cost less than $400 million dollars and its would be cheaper then most government stimulas programs.

The effect would be like a bolt of lighting. Some idiots will blow their wad and spend like crazy. Others would spend there more wisely and save. Those creative folks would start new businesses, and lanuch new inventions. Kids would have money for college education, there would be less poor people on welfare which will have a side benefit of reducing government debt.

[UneasyRider]

1) We have passed the PONR.
2) Prepare as best you can for a transitional economy and currency.
3) Don't fix the blame, fix the problem. We each fix our own and hope .gov does the same.

[6StringGeek]

Originally Posted by Bilbo Bagins

As a one time jolt, give every US citizen a check for One Million Dollars, tax free. Every man, woman, and child

It would cost less than $400 million dollars and its would be cheaper then most government stimulas programs.

I am not great at math, but wouldn't it cost 311,591,917,000,000 (trillion) to give every citizen a million dollars?

[tobias boon]

Originally Posted by 6StringGeek

I am not great at math, but wouldn't it cost 311,591,917,000,000 (trillion) to give every citizen a million dollars?

Ya, your math is bad. Hah no the other guys, not yours.