beowulf 1 #1 May 8, 2012 http://www.alt-market.com/articles/765-economic-alert-if-youre-not-worried-yetyou-should-be Is the author of this just playing chicken little? or does he have a valid point? What do you think? Quote Share this post Link to post Share on other sites
weekender 0 #2 May 8, 2012 Quotehttp://www.alt-market.com/articles/765-economic-alert-if-youre-not-worried-yetyou-should-be Is the author of this just playing chicken little? or does he have a valid point? What do you think? Both. he has a valid point that we should be concerned with current economic conditions. But duh, no one needed him for that. is he playing chicken little, yes. he writes for a website thats purpose is to bring preppers together(their words not mine). Not exactly a moderate un biased group of people."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
beowulf 1 #3 May 8, 2012 http://www.cnbc.com/id/47322877/ I keep seeing more and more "prepper" support these days. Quote Share this post Link to post Share on other sites
weekender 0 #4 May 8, 2012 Quotehttp://www.cnbc.com/id/47322877/ I keep seeing more and more "prepper" support these days. You seeing more of something doesnt make it new or material. there are a couple of hoarder shows out there. not a new problem, im a 3rd generation vollie firefighter. its been around since before me. ie Collyer's mansion. But i do agree we are seeing more extremes. times are tough and people are scared. some, take to extremes. IMO prepping is extreme. so is the OWS crowd on the other end of the spectrum. I'm old enough to have seen this before and have confidence in the majority of rational people in the middle. they aren't as vocal but they tend to be the real decision makers."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
beowulf 1 #5 May 8, 2012 Good reply, my only thought on this is that current circumstances are unique in the history of the US and the world at large. Never before has there been the size of debt that currently exists in the world. Especially the size of the US debt. How will this be different then the past accumulation of large amounts of debt? We have yet to see the inflationary effects of the QE's. It will be interesting to see how this all plays out. Quote Share this post Link to post Share on other sites
Bertt 0 #6 May 8, 2012 I don't know much about the author's history, but he says he only issued one economic alert before when the U.S. credit rating was downgraded. That was pretty much after the horse was out of the barn. He also gets excited about a recent drop in the Baltic Dry Index, but didn't issue an economic alert for a huge drop from June to December, 2008. You can't go too far wrong predicting economic disaster these days, but I don't see a lot of correlation between his predictions and events.You don't have to outrun the bear. Quote Share this post Link to post Share on other sites
beowulf 1 #7 May 8, 2012 I don't know that I agree with anything he says, just find it an interesting position. Eventually all of this debt has to be resolved one way or another. Quote Share this post Link to post Share on other sites
kallend 1,623 #8 May 8, 2012 QuoteI don't know that I agree with anything he says, just find it an interesting position. Eventually all of this debt has to be resolved one way or another. Why? Apart from a few years prior to the Civil War and again just prior to WW-I the country has always been in debt.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
beowulf 1 #9 May 8, 2012 Never at this level. Do you think this high level of debt can be sustained indefinitely? Quote Share this post Link to post Share on other sites
StreetScooby 5 #10 May 9, 2012 People don't realize that our government is now doing alot of borrowing using short term paper, as opposed to 30 year bonds. In the next 5 years, a huge amount of debt will need to be rolled over. Right now, that's priced into the budget with current interest rates, which basically means it won't cost much to finance the roll over. If interest rates change, and they will, the costs will be significant, pushing over 500B (that's B as in billion) per year just for interest payments. We are on an unsustainable path, and the chickens are going to be coming home to roost, sooner rather than later.We are all engines of karma Quote Share this post Link to post Share on other sites
winsor 186 #11 May 9, 2012 Quotehttp://www.alt-market.com/articles/765-economic-alert-if-youre-not-worried-yetyou-should-be Is the author of this just playing chicken little? or does he have a valid point? What do you think? I didn't read the whole thing, but I'd say the guy's an optimist. Quote Share this post Link to post Share on other sites
NewGuy2005 51 #12 May 9, 2012 All I needed to see were the ads. Quote Share this post Link to post Share on other sites
beowulf 1 #13 May 9, 2012 http://www.oftwominds.com/blogmay12/death-spiral-debt-jobs5-12.html Here is an interesting article on debt. Quote Share this post Link to post Share on other sites
