Next time you go to the store and see the new improved smaller container say a prayer of and be thankful you have congress and the senate watching out for your best good.
Those hurting the most with gross unfairness are those paying mortgages on time owning homes devalued far below original cost. It’s very tempting for these folks who can move or even rent elsewhere to return keys to the bank (jingle mail) and just walk out. Millions of these cases exist today with older loans at $250,000 plus their down payments, now discovering their $300,000 home is worth $150,000. Further, it might be another 20 years before old values return. Talk about paying on a dead horse!
I grew up in Argentina in the 60’s, 70’s, 80’s–and for me it’s easy to see the writing on the wall (of course I’ve read it once before, albeit in Spanish). The U.S. Dollar is now in its LAST DAYS as it enters into the spiral of hyperinflation/maxidevaluation. In a matter of 2-3 years, if the dollar even still exists, you’ll be lucky to buy a decent meal for $10,000. The price of gold, in nominal terms, may be in the hundreds of thousands or even millions.
When this US dollar bubble blows it will make the housing bubble blowing look like a picnic in the Hamptons. It’s not a matter of IF, it’s a matter of WHEN and it’s a lot sooner than most people think. And the ONLY thing you’d want to be in when that happens is GOLD. This is a great opportunity to BUY for those who have their eyes on the horizon, and not just a few feet beyond the end of their nose.
Objectively speaking, gold is a poor investment if your outlook is very short…but longer term, gold is gauranteed to rise sharply…just have patience…I sold my GOLD at 900+ and I wont buy back until it gets below 600.00…when the mkts rally in a few weeks from now after finding the bottom, gold will rise again with the other commodities but after a few month bear market rally, gold and oil/commodities will once again start the decline as we continue the deflationary cycle…but when the true money supply finally increases(i.e.-when banks stop hoarding it when they feel fiscally safe again) which should occur 2-3 yrs from now, we will have hyperinflation from all the trillions that our govt poured into the system and is being finally released…at that point I will be buying physical gold as a investment and as a currency…5 yrs from now I bet gas is 10.00 and a loaf of bread will be 5.00…oil should see 200.00 and gold 2000.00.
At some point, the dollar will collapse and interest rates will go up sharply…it has to because foreigners will dump our dollars and our treasuries and will only be enticed to buy them again when they get rewarded for their risk…the markets set the interest rates and not the Feds…I guarantee you will interest rates will go up when foreigners wake up and stop buying our debt.
GREENSPAN:
He refuses to lay the problem where it has existed all along – Social Engineering as a precept of Government, Lawsuits by socialist-leaning government-funded organizations on banking institutions, Oversight mission creep from protecting the citizens to looking the other way in order to gain votes, and lastly … the practice of packaging blocks of “JUNK” mortgages as securities that were able to be traded internationally asnegotiable instruments.
Why were the Executives at FannieMae and FreddieMac (quasi-government loan guarantee organizations set up by Congress with the support of taxpayer money) able to be paid with bonus incentives in the hundred million dollar range in six years?
Franklin Raines alone reportedly received 90 million dollars in six years on bonus incentives packaging federally backed mortgages (backed with taxpayer money) and sold to Wall Street. This was a quasi government position that was allowed to loosen the qualification rules on mortgages in order to create the paper (JUNK Mortgages) that has us in trouble at this moment.
Get ready for super inflation and be strongly prepared to have your standard of living not only reduced but maybe cut in half.
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Comment by real estate agent san diego — October 24, 2008 @ 11:45 am
Next time you go to the store and see the new improved smaller container say a prayer of and be thankful you have congress and the senate watching out for your best good.
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Comment by California lawyers — October 24, 2008 @ 11:46 am
Those hurting the most with gross unfairness are those paying mortgages on time owning homes devalued far below original cost. It’s very tempting for these folks who can move or even rent elsewhere to return keys to the bank (jingle mail) and just walk out. Millions of these cases exist today with older loans at $250,000 plus their down payments, now discovering their $300,000 home is worth $150,000. Further, it might be another 20 years before old values return. Talk about paying on a dead horse!
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Comment by San Francisco real estate lawyers — October 24, 2008 @ 11:48 am
I grew up in Argentina in the 60’s, 70’s, 80’s–and for me it’s easy to see the writing on the wall (of course I’ve read it once before, albeit in Spanish). The U.S. Dollar is now in its LAST DAYS as it enters into the spiral of hyperinflation/maxidevaluation. In a matter of 2-3 years, if the dollar even still exists, you’ll be lucky to buy a decent meal for $10,000. The price of gold, in nominal terms, may be in the hundreds of thousands or even millions.
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Comment by San Diego hotels — October 24, 2008 @ 11:49 am
As the USA continues to become a non-productive mooch, it will become more vulnerable to unbelievable economic turmoil.
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Comment by lasik — October 24, 2008 @ 11:50 am
Gold strength would undermine the power of the international banking system. They will go to great risk and expense to suppress gold rallies.
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Comment by gold price — October 24, 2008 @ 11:50 am
When this US dollar bubble blows it will make the housing bubble blowing look like a picnic in the Hamptons. It’s not a matter of IF, it’s a matter of WHEN and it’s a lot sooner than most people think. And the ONLY thing you’d want to be in when that happens is GOLD. This is a great opportunity to BUY for those who have their eyes on the horizon, and not just a few feet beyond the end of their nose.
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Comment by Acne treatments — October 24, 2008 @ 11:51 am
Objectively speaking, gold is a poor investment if your outlook is very short…but longer term, gold is gauranteed to rise sharply…just have patience…I sold my GOLD at 900+ and I wont buy back until it gets below 600.00…when the mkts rally in a few weeks from now after finding the bottom, gold will rise again with the other commodities but after a few month bear market rally, gold and oil/commodities will once again start the decline as we continue the deflationary cycle…but when the true money supply finally increases(i.e.-when banks stop hoarding it when they feel fiscally safe again) which should occur 2-3 yrs from now, we will have hyperinflation from all the trillions that our govt poured into the system and is being finally released…at that point I will be buying physical gold as a investment and as a currency…5 yrs from now I bet gas is 10.00 and a loaf of bread will be 5.00…oil should see 200.00 and gold 2000.00.
San Diego real estate attorney
Comment by San Diego real estate lawyers — October 24, 2008 @ 11:53 am
At some point, the dollar will collapse and interest rates will go up sharply…it has to because foreigners will dump our dollars and our treasuries and will only be enticed to buy them again when they get rewarded for their risk…the markets set the interest rates and not the Feds…I guarantee you will interest rates will go up when foreigners wake up and stop buying our debt.
gold metal detector
Comment by gold detector — October 24, 2008 @ 11:54 am
GREENSPAN:
He refuses to lay the problem where it has existed all along – Social Engineering as a precept of Government, Lawsuits by socialist-leaning government-funded organizations on banking institutions, Oversight mission creep from protecting the citizens to looking the other way in order to gain votes, and lastly … the practice of packaging blocks of “JUNK” mortgages as securities that were able to be traded internationally asnegotiable instruments.
Why were the Executives at FannieMae and FreddieMac (quasi-government loan guarantee organizations set up by Congress with the support of taxpayer money) able to be paid with bonus incentives in the hundred million dollar range in six years?
Franklin Raines alone reportedly received 90 million dollars in six years on bonus incentives packaging federally backed mortgages (backed with taxpayer money) and sold to Wall Street. This was a quasi government position that was allowed to loosen the qualification rules on mortgages in order to create the paper (JUNK Mortgages) that has us in trouble at this moment.
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Comment by San Diego implant dentist — October 26, 2008 @ 8:48 am
[...] Greenspan … Wrong On Regulation [...]
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