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Economists Warning of Recession!

recession economist obama bernanke

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36 replies to this topic

#1    xFelix

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Posted 24 June 2013 - 01:55 PM

Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer warn about yet another recession. They predict a total collapse this time, and are claiming that it is because of bad management on behalf of the government. (Namely Bernanke)

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My posts consist of my opinions, beliefs, and experiences, feel free to disagree in a respectful manner.

I have a right to my beleifs, just as you have a right to not agree with them.

So long as we respect each other's beliefs, we won't have a single problem.


#2    questionmark

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Posted 24 June 2013 - 01:57 PM

let me guess, and to avoid being caught up in the turmoil we are supposed to buy the gold we were smart enough not to buy last year and these guys are sitting on?

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#3    and then

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Posted 24 June 2013 - 03:05 PM

QM I sure hope you are correct.  But the maths don't seem to work - not from my limited understanding anyway.  If I spent many thousands of times my income in debt I know what would happen to ME.... and if I printed money without ceasing I know that that money would eventually have no value...  so how can the government do it ?

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  for what could be, the darkest age...

#4    questionmark

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Posted 24 June 2013 - 03:13 PM

View Postand then, on 24 June 2013 - 03:05 PM, said:

QM I sure hope you are correct.  But the maths don't seem to work - not from my limited understanding anyway.  If I spent many thousands of times my income in debt I know what would happen to ME.... and if I printed money without ceasing I know that that money would eventually have no value...  so how can the government do it ?

Naturally it does not add up, the question here is what will really happen? And it is quite simple: look at the demise of the Soviet Union and you have an idea... the rest of the world will neither care nor long remember. That the US has been living on borrowed time is something we all know, but it will not be the end of civilization. Lets hope that what we build up after the crash is longer lasting than the model US of A 1980-2010.

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#5    Almagest

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Posted 24 June 2013 - 03:49 PM

View Postand then, on 24 June 2013 - 03:05 PM, said:

QM I sure hope you are correct.  But the maths don't seem to work - not from my limited understanding anyway.  If I spent many thousands of times my income in debt I know what would happen to ME.... and if I printed money without ceasing I know that that money would eventually have no value...  so how can the government do it ?

Because household economics don't apply to countries. You don't get to print money. Too much debt for you means your belongings are repossessed. There are no repo men for countries. Too much debt is bad, true, but the US isn't on the verge of bankruptcy. For every dollar the US owes to someone, it is owed 89 cents by someone else.

http://www.cracked.c...ut-economy.html

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#6    Zaphod222

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Posted 24 June 2013 - 03:54 PM

View PostxFelix, on 24 June 2013 - 01:55 PM, said:

Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer warn about yet another recession. They predict a total collapse this time, and are claiming that it is because of bad management on behalf of the government. (Namely Bernanke)

Read More

Recession would be an understatement. All the insane money-printing and borrowing that world governments have committed (with the Obama government being the worst of them all, but no means the only one), has to collapse eventually.

Simply said, what they have done and are doing is "solving" debt by creating ever more debt. In the process, they have created a gigantic bubble of paper wealth that has no basis in reality. Eventually, that will have to do be corrected, and the correction will not be pretty.

So what we are looking at is a full-blown period of depression, not just a recession. Fasten your seatbelts, people.

Edited by Zaphod222, 24 June 2013 - 03:55 PM.

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#7    Zaphod222

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Posted 24 June 2013 - 04:00 PM

View Postquestionmark, on 24 June 2013 - 01:57 PM, said:

let me guess, and to avoid being caught up in the turmoil we are supposed to buy the gold we were smart enough not to buy last year and these guys are sitting on?

No. It is not sure at all that buying gold is the best protection of your individual wealth. What the best strategy is depends on how the depression plays out and how deep the downturn gets. Alas, nobody can predict that with certainty. Gold is certainly good if you are expecting a prolonged period of strong inflation, while basically the economy somehow ticks on. If you are more pessimistic and expect a full-blown economic meltdown with the accompanying societal collapse, you should rather buy food conserves, barter goods, good padlocks, a bicycle, and a gun.

(You can read up on the Argentinian crisis of 2000, to get god descriptions of what that that plays out like.)

But nobody knows for sure.

Edited by Zaphod222, 24 June 2013 - 04:01 PM.

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#8    Render

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Posted 24 June 2013 - 08:10 PM

View Postquestionmark, on 24 June 2013 - 01:57 PM, said:

let me guess, and to avoid being caught up in the turmoil we are supposed to buy the gold we were smart enough not to buy last year and these guys are sitting on?

+

View PostZaphod222, on 24 June 2013 - 04:00 PM, said:

No. It is not sure at all that buying gold is the best protection of your individual wealth. What the best strategy is depends on how the depression plays out and how deep the downturn gets. Alas, nobody can predict that with certainty. Gold is certainly good if you are expecting a prolonged period of strong inflation, while basically the economy somehow ticks on. If you are more pessimistic and expect a full-blown economic meltdown with the accompanying societal collapse, you should rather buy food conserves, barter goods, good padlocks, a bicycle, and a gun.

Well, apparantly brainiac Peter Schiff, who informs us of all the impending doom happens to be one one of the biggest gold pushers around.
Peter Schiff Comes Out Swinging: Gold’s Going 'to the Moon'

http://www.cnbc.com/id/100809693

View PostZaphod222, on 24 June 2013 - 04:00 PM, said:

But nobody knows for sure.

Oh but these guys in this o so very truthful article are super sure. 100% even to quote Dr.Doom Faber.
Wiedemer is even more accurate: “The data is clear, 50 percent unemployment, a 90 percent stock market drop, and 100 percent annual inflation… starting in 2013.”


Man these guys are smart huh. And so nice of them to share their visions of future with us, while asking nothing in returns. Really sweet guys.


#9    xFelix

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Posted 24 June 2013 - 08:46 PM

I will have to ask that you refrain from slandering people who are known experts in their fields. You might not agree with their opinions, but they are certainly much more qualified than some random person in an online forum.

As for the gold issue, I have heard it a million times over. I still don't believe that gold is the salvation for anyone in a collapsed economic system.

My posts consist of my opinions, beliefs, and experiences, feel free to disagree in a respectful manner.

I have a right to my beleifs, just as you have a right to not agree with them.

So long as we respect each other's beliefs, we won't have a single problem.


#10    Render

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Posted 24 June 2013 - 08:49 PM

View PostxFelix, on 24 June 2013 - 08:46 PM, said:

I will have to ask that you refrain from slandering people who are known experts in their fields. You might not agree with their opinions, but they are certainly much more qualified than some random person in an online forum.

As for the gold issue, I have heard it a million times over. I still don't believe that gold is the salvation for anyone in a collapsed economic system.

Excuse me ? Slandering? It's not slander if it's the truth.

Maybe you should start with googling those names before you actually start believing what is said in the article.
Try and think critically.



Oh, and why do you post an article defending these losers, among them Peter Schiff. who is the number one gold jizzer? You believe him, but you dont? Make sense? No.

Edited by Render, 24 June 2013 - 08:51 PM.


#11    Br Cornelius

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Posted 24 June 2013 - 09:16 PM

Gold is our saviour :w00t: :w00t: :w00t: :w00t: :w00t: :w00t: :w00t: :w00t: :w00t:

If it gets that bad - you can't eat metal and food, or labour, is what will get you through

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#12    preacherman76

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Posted 24 June 2013 - 10:04 PM

What the hell are you talking about? PS has been spot on for years, even in the face of ridicule.

Some things are true, even if you dont believe them.

#13    preacherman76

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Posted 24 June 2013 - 10:09 PM

View PostRender, on 24 June 2013 - 08:49 PM, said:



Oh, and why do you post an article defending these losers, among them Peter Schiff. who is the number one gold jizzer? You believe him, but you dont? Make sense? No.

If you had listen to Peter 10 years ago about gold, well you couldnt find a better investment. How many times does this man have to prove he's right, and main stream economists are wrong before the sheep listen?






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#14    preacherman76

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Posted 24 June 2013 - 10:12 PM



Some things are true, even if you dont believe them.

#15    Render

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Posted 24 June 2013 - 10:16 PM

View Postpreacherman76, on 24 June 2013 - 10:04 PM, said:

What the hell are you talking about? PS has been spot on for years, even in the face of ridicule.

Another one fooled.
Apparantly the "Peter Schiff is right campaign" is still paying off.

Schiff is nothing more than a provocateur.  He is known to be followed by disgruntled amateurs. Schiff has been freaking out over "hyperinflation" since 2009. According to him it was inevitably coming in 2010 .. then 2011, then 2012 ... and now still he freaks out about it. While inflation has actually been going down.

A stopped clocked is also right twice a day.

This guy isn't taken seriously by anyone, except amateurs.






Also tagged with recession, economist, obama, bernanke

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