What happens when you Borrow and Consume instead of Save and Produce??

[smartinvestor30]

Watch this video I saw from Fast Money on CNBC and comment please. Surely there are repercussions to all this...


http://www.youtube.com/watch?v=Mlo8uvlwQeQ

[Jelly]

Peter has given voice to the gut feelings I've had for many years. There are other vids that have him fighting with other pundits over the last couple of years who now look stupid in hindsight.

1) How will Wall Street will make any money on anything they do? Their liabilities continue to grow.

2) Main Street has exported our economy to others. We now have nothing to offer to make money.

3) Debt is the 500 lb gorilla. He got really fat and is sitting on the USA. He's got brothers in most other countries.

4) This has been the Ponzi scheme to end all.

[Gordo]

When Peter Schiff says 'Gold will be the asset to hold in the future', what stock(s) could he be referring too? Mining? Coins? Gold bars?

[smartinvestor30]

When Peter Schiff says 'Gold will be the asset to hold in the future', what stock(s) could he be referring too? Mining? Coins? Gold bars?

No he's reffering to actual physical gold. Paper is tied to those gold assets but you are better off taking physical possession of your gold, meaning don't even keep it in a bank vault keep it in your own home. A company that I've dealt with called Monex is considered one of the leaders in distributing precious metals in coins or bars. You can buy just above spot price if you consider shipping and they will even buy it back from you.


www.monex.com

[smartinvestor30]

Peter has given voice to the gut feelings I've had for many years. There are other vids that have him fighting with other pundits over the last couple of years who now look stupid in hindsight.

1) How will Wall Street will make any money on anything they do? Their liabilities continue to grow.

2) Main Street has exported our economy to others. We now have nothing to offer to make money.

3) Debt is the 500 lb gorilla. He got really fat and is sitting on the USA. He's got brothers in most other countries.

4) This has been the Ponzi scheme to end all.


About 10 Trillion in debt ($50Trillion if you count entitlement programs like SS) along with a Federal Reserve that's willing to devalue the dollar to no end. I don't think there is much they can do to keep this all going. Eventually countries won't lend to us anymore.

I think the people that came here in a last few years looking for opportunity are going to be so distraught they will go back to their own countries.

People who grew up here might also leave to countries with big sovereign wealth funds :)

Obama is reading a lot about FDR and the New Deal but I doubt he'll be smart enough to distinguish between things that helped at that time and things that were counterproductive in recovering from the depression (e.g. National Recovery Act). We're going to make the same stupid mistakes, price fixing, wage fixing,etc.

:(

[Jelly]

About 10 Trillion in debt ($50Trillion if you count entitlement programs like SS) along with a Federal Reserve that's willing to devalue the dollar to no end. I don't think there is much they can do to keep this all going. Eventually countries won't lend to us anymore.

I think the people that came here in a last few years looking for opportunity are going to be so distraught they will go back to their own countries.

People who grew up here might also leave to countries with big sovereign wealth funds :)

Obama is reading a lot about FDR and the New Deal but I doubt he'll be smart enough to distinguish between things that helped at that time and things that were counterproductive in recovering from the depression (e.g. National Recovery Act). We're going to make the same stupid mistakes, price fixing, wage fixing,etc.

:(

A new, New Deal would help. At least it's money that can be counted and will generate a bottom up economy.

Fabricating financial instruments with no way to inspect them has been the root of this mess. Spreading the risk didn't eliminate the risk.

You heard about marshal law, yes? As an outside possibility, it could happen.

I really am going to start buying (more) ammo.