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farmer12 06-03-2012 12:04 AM

Around 6 months left
 
http://www.theblaze.com/stories/former-hedge-funders-fearful-forecast-were-looking-at-the-biggest-economic-shock-the-world-has-ever-seen-theres-nothing-we-can-do-to-stop-it/

"Mr. Pal, who writes for The Global Macro Investor, a research publication intended only for larger institutions, hedge funds, and family offices, believes that a global banking collapse and massive defaults will bring about “the biggest economic shock the world has ever seen” — and there’s nothing we can do to stop it."

Thoughts? Is this a perfect scenario idea or is it in our near future(emphasis on near)?

Chainfire 06-03-2012 12:15 AM

Sounds like a lot of investors are gonna lose a bunch of money.

I bet the farmers will still pick their crops, BP will continue drilling oil, The red light camera at the corner will keep sending folks tickets, and gloom and doom will still be preached.

I am a life-long construction worker. My economic stability collapsed three years ago because of the bankers greed, I have little to fear of something taking all of my savings.....Maybe it is time for the wealthy to get slapped.

bkt 06-03-2012 01:05 AM

No one can predict the future, but a collapse wouldn't really surprise me.

The problem isn't just that banks would have to write off the debt owed to them from Greek and Spanish banks, but that currencies would be devalued big-time. That will suck for everyone who depends on currency to get food, pay for housing, etc.

Birchhatchery 06-03-2012 02:33 AM

i surley hope not im buyin a small farm!

mcb 06-03-2012 04:37 AM

Some expert or another had been predicting a collapse for the last few years. It's a good way to sell books, magazines, subscriptions etc.

I will continue to invest and plan as I always have. I also think it is a good idea to plan for the worst. Even if the world economy doesn't crash you never know when a local disaster may strike.

levelcross 06-05-2012 02:40 PM

In Kazakhstan, the economy collapsed several years before I went there. They still went to work, and went on with life hoping that things would get better. The Government supplied housing, electricity, water, and food. The tax rate was almost 60%, but the only money paid was from outside companies working within Kazakhstan. They survived the economic collapse but I feel things will be far worse with Global financial collapse.

I see no end to what a person desperate to feed his/her family will do for food and supplies.

PanBaccha 06-05-2012 06:10 PM

There is definitely something 'cooking' around the bend by them. Only I know for sure that no matter what happens the banks, Wall Street, and the corporate maggots have been prepared for some time now and quite secured in either foreign investments or currency exchanges. Meanwhile Americans who do not have that luxury of mobility will suffer what little they do have. Talk about treasonous behavior. Oh, how the guillotine appears so empty now. It needs an appropriate casting of characters.

TLuker 06-05-2012 10:22 PM

I think of myself as a fairly optimistic person, and I'm certainly not hoping that anything bad happens, but I can't see how the economy can improve? In my view of things people have to have money to spend in order for the economy to improve. At the moment not enough people have enough disposable income. Add inflation along with the loss of so many high paying manufacturing jobs and you end up with a lot of broke people. It's tough for an economy to improve when the majority is either poor or living paycheck to paycheck. And right now that seems to pretty much be the majority in every country. I just can't see how the economy can do anything but collapse? I really hope I'm wrong.

Even without a total collapse, I think the kids coming along today are going to see a substantial decrease in their standard of living. It is looking like the 80's and 90's were the golden age of "the great experiment". And that is not me just being negative, but rather me being realistic. It's going to take decades just to get out of the debt were currently in.

I'm planning for the future based on my current view of our situation. Actual things with value are going to grow in value. That would include guns, bullets, brass, and tools in general. That is what I'm buying. Those things will grow in value or at least keep up with inflation assuming no economic collapse. Those things will be priceless in an economic collapse.

Things with value that actually have no value are going to decrease in value. That would include the dollar, stocks, and titles of any sort. Stocks and titles would normally have value but all the financial gurus figured out everyone could just profit from the equity in whatever they owned. That leaves stocks and titles as worthless.

That's my .02:)

carbon15man 06-07-2012 05:03 AM

This subject pisses me off so much I'm an 18 year old and I knw what need to be done to fix the country. All these guys that lead our country are not stupid men if they were they wouldn't have the money they do. Why can't they see that we are spending to much money? Like I said 18 here I make 11 dollars an hour after tax I bring home 350 a week so 1400 a month so I know hey I can't spend more than 1400 bucks a month and if I do I can't call china and ask for more money if a dumb redneck can balance a budget why can't these educated leaders we have do it. Bc they don't want to cut spending EPA a total waste of money they spent 10.2 billion dollars in 2010 we need to cut our government in half it's simple they need to collect more tax money than they spend and they knw that they can't raise taxes bc ppl have lil to no money now so it's simple as that get rid of all this government

TLuker 06-07-2012 10:39 PM

Quote:

Originally Posted by carbon15man (Post 827735)
This subject pisses me off so much I'm an 18 year old and I knw what need to be done to fix the country. All these guys that lead our country are not stupid men if they were they wouldn't have the money they do. Why can't they see that we are spending to much money? Like I said 18 here I make 11 dollars an hour after tax I bring home 350 a week so 1400 a month so I know hey I can't spend more than 1400 bucks a month and if I do I can't call china and ask for more money if a dumb redneck can balance a budget why can't these educated leaders we have do it. Bc they don't want to cut spending EPA a total waste of money they spent 10.2 billion dollars in 2010 we need to cut our government in half it's simple they need to collect more tax money than they spend and they knw that they can't raise taxes bc ppl have lil to no money now so it's simple as that get rid of all this government


Most got their money the old fashioned way, they inherited it. :)


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