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The Coming Economic Collapse
Old 04-18-2006, 02:58 AM   #1
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The Coming Economic Collapse

Please Read!! Does the possiblity of a scenario like this cause any of you to rethink you ER plans?

http://www.indybay.org/news/2006/03/1805454.php
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Re: The Coming Economic Collapse
Old 04-18-2006, 03:21 AM   #2
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Re: The Coming Economic Collapse

No, because if the dollar is worthless, why work to obtain more dollars? At least I could enjoy a little of my life before the big "Collapse", if it indeed occurs.
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Re: The Coming Economic Collapse
Old 04-18-2006, 05:35 AM   #3
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Re: The Coming Economic Collapse

Consider the source.

I can't imagine any scenario where I'd rather hold Euros than dollars. The economies of Europe are worst disasters under any measure when compared to the US. Their unfunded liabilities are massive. If the "big one" hits the US, Europe will cease to exist as we know it.

Asia will become a real threat in another couple of decades. They are developing now. We'll have to wait to see what they turn in to. Right now, if the US goes into collapse, all of those exporting, developing nations will also go into a mega-collapse.
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Re: The Coming Economic Collapse
Old 04-18-2006, 05:47 AM   #4
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Re: The Coming Economic Collapse

I agree w/2b. If the US goes down, so will most of the world. Asia will also suffer but probably would come out of this scenerio the best. I still think with all of our resources, we would never let that happen. I'll deal with that road if it ever approaches, but won't let it affect my goals.
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Re: The Coming Economic Collapse
Old 04-18-2006, 06:01 AM   #5
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Re: The Coming Economic Collapse

Run for the hills!!!

Oh, wait, false alarm.
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Re: The Coming Economic Collapse
Old 04-18-2006, 07:00 AM   #6
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Re: The Coming Economic Collapse

Rethink ER plans? Nope. But there is a reasonable chance that the USD could slide cosiderably in the future. It isn't clear to me that the Euro would necessarily take up the slack, but I suppose it is possible. I hedge against such a thing by owning a chunk of unhedged foreign bonds, foreign equity, commodities and stock in some companies that own or control real assets.
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Re: The Coming Economic Collapse
Old 04-18-2006, 12:48 PM   #7
 
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Re: The Coming Economic Collapse

An economic calamity has been predicted every year since the Great Depression. Eventually someone is going to be right.

If you want a good laugh, try to get a hold of Ravi Batra's book in the 80's with a title something like the coming great depression of the 1990's. He convinced enough people, that they dumped all they're stocks after the 1980's run up, sell their home and move to the mountains.

I saw one of these 'Mountain Men' interviewed on TV in 1999. The interviewer was asking him how he felt 'being left out' of the stock run up as well as real estate appreciation. He admitted he screwed up big time. He still had to drive to town for food and supplies and participate in the economy, even though he moved to the hills.
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Re: The Coming Economic Collapse
Old 04-18-2006, 01:48 PM   #8
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Re: The Coming Economic Collapse

Quote:
Originally Posted by Cut-Throat
An economic calamity has been predicted every year since the Great Depression. Eventually someone is going to be right.

Hey Big Guy: You just keep tieing those flies, and, if you don't already have them, get hold of a shotgun and a rifle, and if it really hits the fan, come out to my neck of the woods.

Plenty of folks out here have been in a "financial depression" for years, and have managed to get along somehow on Soc. Sec. alone.

You're going to have to do something about that Lexus though. (That might piss some people off)
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Re: The Coming Economic Collapse
Old 04-18-2006, 01:55 PM   #9
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Re: The Coming Economic Collapse

There is a storm and the clouds are definitly getting darker, the strength in Resource Based Economies like Canada and Australia are the messenger.

The US over estimates its' future importance in the world, China and India are growing inceasingly wealthier, they will not need the US Markets, they can sell to their own, again , 2 BILLION People.

Do not slag Europe, the were there long before the US, they are not stupid, and I certainly would see the Euro as a viable alternative.

The Chinese are already talking of not wanting any more debt denominated in $'s US, and I believe the figure is 40% fo all US Treasuries are held by foreigners.



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Re: The Coming Economic Collapse
Old 04-18-2006, 04:03 PM   #10
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Re: The Coming Economic Collapse

that the same day a bud sent me this

http://tinyurl.com/kr5ug

which predicts the end of the world as we know it in an article by robert kiyosaki on "the coming oil crisis".

originally i was coming to this forum to learn from you guys.

but now yer just trying to scare me.
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:25 PM   #11
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Re: The Coming Economic Collapse

Max,

You are the only one so far that seems to believe there is a storm is comming and that the scenario I provided a link to has some credibility. So what are you doing to prepare and at the same time be in a position to retire early? There are number of things people can do to prepare for an economic collapse (stock up on food, supplies etc), but doesn't seem to be lunacy to be heavily invested in equities and rely on those investments to carry us through retirement?

Everyone else is welcome to weigh in on this topic.

Thanks
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:28 PM   #12
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Re: The Coming Economic Collapse

Kyosaki *= AntiChrist

He lies about everything, had the fact that "Rich Dad" didn't exist on T.V. and melted down, never served in the "Marines", rather Merchant Marines, worked as an assistant to another schlock book/seminar seller before striking out on his own. *I spit in his general direction. *

Back on topic, Euro replace the dollar? *Please. *France has double digit unemployment and can't give it's companies the least bit of free market breathing room without a million losers rioting in the streets. *Italy is so corrupt it's black market is the economic driver, England doesn't want to use the Euro because they don't want to get tied to that boat anchor. *

Wasn't all this said before during Japan's rise? *"Oh no! Run for the hills! *Japan is going to take over the world!" *
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:36 PM   #13
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Re: The Coming Economic Collapse

Hydroman, I am most certainly not, many people have expressed concerns about the US Financial situation.

China is on record as reducing its' exposure to US $'s.

Many, many Economists, and the I.M.F have warned about the US debt situation.

I have moved to a small village, am debt free, have significant monies in short term bonds and in the Canadian Stock market, with an overweighting to Oil.

Cities in the US are struggling with debt, they will start to cut back on social programmes, this could fuel an elevation of crime as people now take what they can no longer buy.

Sooner or later, VISA has to be paid, and sooner or later, Foreigners will find an alternative to US Dbt holdings.

Wayne Gretzky always said that the secret to being a great Hockey Player is to be where the puck is going, not where it is, so too with life and Investing.

I also took out my European Passport, also for my wife and for my Sons.

It matters naught to me what others do, I have taken this path, what otehrs do is entirely their choice.
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:41 PM   #14
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Re: The Coming Economic Collapse

Laurence , you are correct in some of your statements, but bear in mind, in many European countries Social benefits are so generous that for many there is no real reason to work.

I talk to my Son in China several times a week, he has stayed for 8 years due to the enormous opportunities,a nd they are getting better.

Most of his friends are American kids with great educations who are there for the same reason, and the girls
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:48 PM   #15
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Re: The Coming Economic Collapse

I believe that there will be a massive economic collapse in the U.S. in approximately four years. But I don't have the answers as to what I can do to protect myself.
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Re: The Coming Economic Collapse
Old 04-18-2006, 04:49 PM   #16
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Re: The Coming Economic Collapse

China is a rising force, no doubt. *But as their wealth increases, so will their population's demands to share it, and to increase their lifestyle. *China is more of an economic opportunity than a threat to the U.S. IMHO. *

If the dollar slags, my mortgage debt becomes significantly less meaningful, I'm plenty hedged against inflation.

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Re: The Coming Economic Collapse
Old 04-18-2006, 04:54 PM   #17
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Re: The Coming Economic Collapse

http://www.gaiamind.org/aug13-2010.html

I know this is nutty, but check out the astrological forecast of 2010
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Re: The Coming Economic Collapse
Old 04-18-2006, 05:20 PM   #18
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Re: The Coming Economic Collapse

I have been curious CT, why does she still work? She just like it that much?
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Re: The Coming Economic Collapse
Old 04-18-2006, 05:20 PM   #19
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Re: The Coming Economic Collapse

Might be a challenge to fit your wine rack into a mobile home.

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Re: The Coming Economic Collapse
Old 04-18-2006, 05:35 PM   #20
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Re: The Coming Economic Collapse

Quote:
Originally Posted by newyorklady
I believe that there will be a massive economic collapse in the U.S. in approximately four years.* But I don't have the answers as to what I can do to protect myself.*
I am partially in that camp as well...I see it as a possibility, but not a likely possibility.

What I've done to protect myself and my family in that situation, is by coincidence only...just before I retired we bought a 200 acre farm...I raise animals, grow hay, large veggie garden; I have a private septic, private well, and am capable of providing almost 100% of my food on my property (true it wouldn't have quite the variety that you can get at the market, but we wouldn't starve). I also am converting over to woodheat as a backup (and have a lifetime supply of firewood on the property). No debt, house paid for, wife is trained as an RN and could provide most routine care if need be...etc.

If there is a true economic collapse, we'll do OK. I feel quite confident, if need be, we could live years on this farm without needing too much. My property taxes would be the biggest expense and worry in that situation..unless of course things are so bad I can pay my bill with sheep

Of course, truth of the matter, the way I am living, I'd be doing even if I knew 100% for sure that there is no collapse coming...its just a coincidence that the lifestyle that works for me,* is an insurance policy. I suspect most city/suburban folks would be out of food, heat and just about everything else in a matter of days in a true "collapse"...

So, there are things you can do to prepare, but unless you are able to see the future, and know for sure its going to happen, I certainly would try to live a life that you wouldn't otherwise for the off chance that things go sour.

Just my two cents.
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