Just doing a bit of reading on the upcoming debt ceiling in September and this article explains it all very simply.....Thank god its only a month away and we don't have to wait another year or anything, I want this stuff resolved asap so I can get on with my life whichever way I need to survive the crazy mess they have got us all into..... http://www.businessinsider.com.au/debt-ceiling-government-shutdown-fed-nomination-tapering-2013-8
No problems, this will play out as usual. The US Government will NOT stop spending! They will continue to issue US Treasury Bonds to cover the deficit! Nobody wants to buy them! The FED will 'print' money to buy those Bonds itself! The USG will then spend the money! Rinse and repeat ad infinitum! (The Debt ceiling is just a charade to look like they are fair dinkum about it all, they are not!) OC
O.k that simplifies it all a bit better OC.....SO how long can they do the rinse repeat thing for you reckon?
Until the US (and Japan and EU) Bond markets fall in a hole. That day the Bond holders will be all heading for the door at the one time. Bit like a fire in a crowded night club. Tomorrow maybe! OC
The US debt clock is nearing $17 trillion...Unfunded health and retirement ES$T70 trillion. Derivatives is my biggest concern..The gambling casino of wall st where no one looses.. Crooked accounting ensures there are no losers. Except the middle and lower classes. Not much longer now. Regards Errol 43
Not much longer now. Oh great so it looks like i'm not going to get my investment money if things are going to turn bad sooner than later.... I still have to wait two to three months for a return, then I wanted to buy some metals again just to be on the safe side. Errol, you got any ideas on how long until things turn bad ie GFC 2, Armageddon!
Nobody does and anybody tells you different is full of BS. Never underestimate how long stupid can go on for. There is a great saying "markets can stay irrational longer than you can stay solvent". Pretty much sums things up I reckon.
I do not think ANYBODY really knows what the future will hold. All I 'know' is that this crazy situation cannot go on forever, it WILL come to an end eventually. Whether we are at June 1928 or June 1929 I have no way of knowing, but I will be prepared and ready. I do think it will be far worse than 1929 I think it will be a rapid progress from a problem in the markets to a world wide panic and crash, but the time frame is unknowable to me yet. JMO OC
Well Jim Rogers has made a recent comment saying that 'they' the USG have quadrupled their balance sheet in the last 5-6yrs.......And they CANNOT do this again in the next 5-6yrs because it is mathematically impossible... So Jim may have given us a little of his great wisdom again with knowing when, how and what to prepare for not really all that far away. Anyone with a mortgage should be paying it off as soon as possible while also stacking pms, food, fuel etc etc etc.
The lunatics are running the asylum telling us don't be ridiculous,everything is fine, its we that must be mad...
Besides random things like Elvis releasing his first album, Marilyn Monroe changing her name, the Suez war and it being the year 2500 on the Buddhist calendar, what's so special about 1956? (And the Melbourne Olympics)
The article mentions the sequester cuts are hurting the economy? How? They are only a cut to the rate of increase of future federal government spending, they are no 'cuts' as any sensible person would understand them. Unless the US government is so far involved in the economy that it really does control the economy and free markets/capitalism is a myth and the US is indeed a controlled national socialist economy.
It's the modern definition of "cuts" - a reduction in the rate of future increased spending that they promised last year. Old Swanny learnt this definition well from the US and Europeans.
The end? WTSHTF...I don't know and as said above ^^^, I believe it is coming.. The debt is too great, the income is too small, interest is too low, unemployment is too high, house prices are too high, politicians are too full of BS, bankers tell too many lies and for ME IT IS ALL TOO MUCH. But SILVER is Never Enough! Regards Errol 43
Charles De Gaulle warned of this crisis in 1965 we are still waiting... I agree with OC that the US cannot continue borrowing forever - the bond markets have a puke point - but nobody knows that point until it happens Might be this year or might be another 10 or 20 years Or the Chinese might be planning to gradually replace the US dollar as reserve currency with the Yuan - they must have a reason for stockpiling masses of gold
The same thing will happen that has always happened. They'll raise the debt ceiling and continue on with the other crap
What a freaking mess the U.S is in. The mess includes how banks prey on (rip off) municipalities. An interesting read: Detroit: Government Chooses Big Banks Over the American People Once Again http://www.globalresearch.ca/detroi...s-over-the-american-people-once-again/5346143
