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Porter Stansberry - endofamerica2
03-03-2011, 06:59 AM
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#1
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Recycles dryer sheets
Join Date: Sep 2010
Location: Lebanon, TN
Posts: 112
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Porter Stansberry - endofamerica2
I have been hearing commercials on our local talk radio station about a guy who had predicted the collapse of Fannie Mae, Freddie Mac, GM and Bear Stearns and that he had made a new prediction that we must hear. My curiousity got the better of me and I checked it out last night.
So after listening to a full hour of explanations, some of which actually made sense, I got to the crux of the matter where he pitched his newsletter and gave some advice. The basic premise was that the US dollar will soon no longer be the base currency for international trade in oil and this will cause the economy to collapse. He advised running to international investments, gold and silver and of course several other secret things that would be mentioned in his books and newsletters.
Does anyone have any first hand knowledge or put any credibility to Stansberry Research or is he just another alarmist?
__________________
"If it didn't have bones in it, it wouldn't be crunchy now, would it?" -M. Python
Age 50, DW is 54, 1.4M split 25 Stock, 40 Mutual Funds, 25 Bonds, 5 Commodities, 5 REIT. Own Home, no debts.
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03-03-2011, 09:11 AM
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#2
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,362
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__________________
I thought growing old would take longer.
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03-03-2011, 09:17 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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Quote:
Originally Posted by Automatika
he pitched his newsletter and gave some advice.
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His newletters run from $99 to $5000 / year. If they are that expensive, they must be good right?
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03-03-2011, 09:53 AM
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#4
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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It's over. It's all over.
The world was supposed to end in 2000. And... it didn't. Then it was supposed to end in 2008... So close but no medal. OK, 2012 for sure, right? Come on people, we all know it's coming! Stop fightin' it!
"Buy international investments!". Oh and I like how the rest of the world will just keep chugging along even as America's economy collapses. As they say, when America catches a cold, the rest of the world sneezes. Like when the housing market teeters in America, banks and governments all over the world suddenly find themselves on the verge of collapse. So, I wonder, what would happen to the rest of the world if America had a stroke... No one left to guarantee the safety of South Korea or Japan... No one left to temper the ambitions of China... No one left to buy all the cr@p other countries produce. Millions of Chinese citizens unemployed. Trillions of Chinese currency reserves suddenly rendered worthless. But your international investments would fare just fine... Really.
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03-03-2011, 10:15 AM
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#5
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Recycles dryer sheets
Join Date: Sep 2010
Location: Lebanon, TN
Posts: 112
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Quote:
Originally Posted by photoguy
His newletters run from $99 to $5000 / year. If they are that expensive, they must be good right?
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Actually they were $49.50 and included 5 free reports/booklets. I didn't buy them.... I think the Yugoslavia simile and the holocaust references helped me make up my mind
__________________
"If it didn't have bones in it, it wouldn't be crunchy now, would it?" -M. Python
Age 50, DW is 54, 1.4M split 25 Stock, 40 Mutual Funds, 25 Bonds, 5 Commodities, 5 REIT. Own Home, no debts.
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03-03-2011, 10:33 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Posts: 1,440
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Even Buffett has been quoted saying "...the U.S. dollar will become less important over time as other economies grow faster."
It's a logical statement but what's different about how Buffet said it was there was no doom and gloom attached to the event.
Buffett sees uneven recovery, craves big deals | Reuters
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03-03-2011, 10:47 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 1,608
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There's also this prediction:
May 21, 2011, Judgment Day, Rapture, End World
Some folks may want to rethink their SWR if they buy into this prediction.
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03-03-2011, 11:42 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Posts: 1,719
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Quote:
Originally Posted by Lisa99
Even Buffett has been quoted saying "...the U.S. dollar will become less important over time as other economies grow faster."
It's a logical statement but what's different about how Buffet said it was there was no doom and gloom attached to the event.
Buffett sees uneven recovery, craves big deals | Reuters
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There will likely end up being an all-world currency at some point. Look at Europe where everyone had their own currency (and some still do).
Stansberry seems to have a "selective perspective" regarding his own activities. He may also have a persecution complex, if you've ever read some of his articles discussing the SEC investigation.
At the end of the day, you must do your own homework and not rely on a single source for your information. Only then will you arrive at an neutral perspective on particular investments or economic outlook.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
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03-03-2011, 12:59 PM
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#9
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Moderator Emeritus
Join Date: Oct 2007
Location: Portland
Posts: 4,946
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Quote:
Originally Posted by photoguy
His newletters run from $99 to $5000 / year. If they are that expensive, they must be good right?
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Hmmm... He accepts payment in DOLLARS?
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03-03-2011, 01:07 PM
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#10
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Full time employment: Posting here.
Join Date: Aug 2004
Location: Hagersville
Posts: 794
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Quote:
Originally Posted by powerplay
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I wonder if this has anything to do with the fact that my Public School has it's 50th anniversary reunion that day? Honest I did not think we were that bad.
__________________
I wish I was half as good as my dog thinks I am!
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03-03-2011, 02:07 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Quote:
Originally Posted by Lisa99
Even Buffett has been quoted saying "...the U.S. dollar will become less important over time as other economies grow faster."
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This is undoubtedly true but it isn't necessarily a bad thing. People have a habit of confusing relative decline for absolute decline. The US is experiencing the former yet most everyone jumps to the conclusion that the latter must happen. They never explain why. Probably because they don't really understand economics, or because they get paid more when they have doom to sell. At the same time, it's hard to see how we're hurt by the relative rise of our trading partners.
Are we really worse off if they have more income to buy stuff from us and have the technology and infrastructure to build innovative stuff that we can buy from them? Most alarmists think so. But then they see international economics as a death match over a fixed income pie. Someone's gain must come at someone's expense. But that's not the way the world works. As income grows, the pie grows. It's possible for everyone to be better off. But that message probably doesn't sell as many subscriptions.
__________________
Retired early, traveling perpetually.
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03-03-2011, 02:14 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Quote:
Originally Posted by photoguy
His newletters run from $99 to $5000 / year. If they are that expensive, they must be good right?
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His FIRE plan in action!
Which he immediately converts to beaver cheese futures...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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03-03-2011, 11:15 PM
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#13
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Full time employment: Posting here.
Join Date: Jul 2008
Posts: 619
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Quote:
Originally Posted by HFWR
Which he immediately converts to beaver cheese futures...
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Hmmmm. I hesitate to ask...?
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03-04-2011, 05:38 PM
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#14
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Confused about dryer sheets
Join Date: Feb 2011
Posts: 7
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"There's also this prediction:
May 21, 2011, Judgment Day, Rapture, End World
Some folks may want to rethink their SWR if they buy into this prediction. "
_____________________
Party at my house on May 20.....
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03-04-2011, 07:39 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Posts: 1,719
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Quote:
Originally Posted by Gone4Good
This is undoubtedly true but it isn't necessarily a bad thing. People have a habit of confusing relative decline for absolute decline. The US is experiencing the former yet most everyone jumps to the conclusion that the latter must happen. They never explain why. Probably because they don't really understand economics, or because they get paid more when they have doom to sell. At the same time, it's hard to see how we're hurt by the relative rise of our trading partners.
Are we really worse off if they have more income to buy stuff from us and have the technology and infrastructure to build innovative stuff that we can buy from them? Most alarmists think so. But then they see international economics as a death match over a fixed income pie. Someone's gain must come at someone's expense. But that's not the way the world works. As income grows, the pie grows. It's possible for everyone to be better off. But that message probably doesn't sell as many subscriptions.
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Exactly. The "free market" is not a zero-sum game. In fact, it's the exact opposite because it is fueled by self-interest and innovation.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
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