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RE: US Debt Undermines Dollar Confidence (whether people realize it yet or not)
It is not going to be good....by the way IWM is negative on the year now
It is not going to be good....by the way IWM is negative on the year now
There are multiple levels of scary that can happen. One level is that the US loses status as world base currency as other countries move away from the petro-dollar. This will cause a spike in prices. Another possibility is hyper-inflation. We could even see the dollar finally breathe its last as its purchasing power goes to zero. Who really knows though. There are a lot of things that could happen, but they might be able to paper over the problems like they did in 2008. It won't last forever though.
you are definitely right on this:
very smart there Blondie! Its completely a fact no matter what the sages want to tell you ;)
Ohhh I agree completely. I see people every day and wonder how are they going to react when they have no money. I see the things that people waste money on and think "wow, I bet you're going to regret that one day". I don't have any idea when its going to happen, but I am convinced we can't stop the treadmill without crashing.
The best chance I see for the US to "stop the treadmill without crashing" is for the price of gold to rise and then get back on the gold standard. It would take reaching prices of around $85,000 an ounce (from what I hear), but it could happen. Otherwise, I think we're in a LOT... sorry a
LOT!!!
of trouble.
We live in a debt-driven society and there are a lot of people who are going to be crushed by their debt in the coming months. It's sad.
I agree that its sad when it happens. Many don't even understand how they've been lulled into debt. I don't know about the timeframe, but I definitely believe people will say "I wish I didn't do this or that one day". Glad you get it though! ;)
Well, for years people have been told that they need to go to college. So when they have kids, they ship them off to college. If the parents can't take on the debt to pay for it, the kids do.
While the kids are busy racking up that unforgivable debt (yeah, bankruptcy doesn't erase it. How messed up is that?), they are also being given offers for credit cards and such. That's because the campus was paid money by the CC company to get access to the students. Those kids are getting sold out all over the place.
When they leave college, they're told they need to buy a house. More debt. They think that because mom and dad (who have been working for decades) have a big tv and nice cars that they should have nice stuff too. So they take on MORE debt. It's crazy how nowhere along the line someone stopped them to say, "Hey, debt isn't the way. Here's how to do things the right way."
If everyone wasn't racking up more debt though, our whole financial system would fall apart though. It's all built on keeping us all in debt bondage. Yay! :(
yes you are right, right, right.... Well done Arch, you have this sorted out very well! And yes they are like drug pushers enticing everyone to take on debt. Its how they can take the assets for themselves in the reset too. If you have debt on it, it will be theres one day. So think about that the next time you want to trade in your car and get a new payment.