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So tellme what does a U.S. economic collapse look like?

Discussion in 'Financial Cents' started by Tango3, Nov 29, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    H'okay "guyz "BOB chapman's video predictions of dollar doom beginning 1/1/10 is starting to spool up the blogosphere, other video pundits are referencing it and "re-reporting it" basically the same information: "highly placed sources stating there will be banks paying out personal deposits with dollars exchanged at 3frn's for 1 new "obamabuck"" .Looking into "dollar devaluation" the fed reserve[gun] has a page [peep]which explains "dollar" devaluation as a devaluation against other currencies.

    Yes that would effect imports/exports but within our "borders" a "dollar" to me and you will find its own level as usual( business as usual).

    ****oh breaking news just now as I'm typing here; this talking head on the Sunday a.m. wisconsin business money show "upfront" Just said the "recession" is over! We need to be ready when the recovery takes off.[dunno]*******[rofllmao]

    Help! I'm d'wowning in bullsh...[dunno][sinking]

    Are the extreme scenarios: touted by chapman (buy GOLD!!!) i.e. you wake up to hear the radio exclaim: the dollar is worth zero here, whatever you had in the bank no longer exists or was just confiscated by the fed gov....Even plausible.???

    I can understand the rhetorical: "Your money is being stolen through inflation" kinda' stuff but that is a gradual soft slide we have known and accepted since I was a child.
    I'm having trouble seriously accepting the idea" The absolute total evaporation of the system" is even possible...

    Perhaps with a spaceborne EMP burst..but that woulds be a deliberate act of war(not much to stop that).
    I can't believe all the suits in all the halls of business and law would find such a complete evaporation of their power structure acceptable...[peep]
    Discuss amongst yourselves, please...seesaw
    I'm thinking "Dollar devaluation" makes our exports cheaper to others , sales and production rise, jobs come back...
    Albeit we get less for our production...
    So Joe six pack has one fewer jetski in the driveway...
    fewer jetskis are manufactured/sold/maintained...

    [dunno]where's the new normal????
  2. Sherman

    Sherman Dog Eat Dog

    I have looked at Argentinas economic collapse of 2001 for this answer. I read "surviving the coming economic collapse" written by an Aregentinian. Basically the gubmint spent more than they had then couldnt pay it back. The gubmint was covering loan defaults to corps, Major players were citibank, chase and j.p. morgan. Sound familiar?

    So what they had was 25% unemployment, 400% inflation, bank assets nationalized. POOF!! all your moneys gone, no job and can't afford food or housing. Thousands starving and newly homeless.

    800,000 without water, 1 million w/o sewer, the gubmint couldnt afford to maintain utilities. Intermittent electricity and other services.

    Rioting in the streets against the gubmint, the gubmint maintains "control". There are still police and DMV etc. But these services are overwhelmed and corrupt.
    Desperate people turn to crime- a sense of lawlesness promotes violent crimes, home invasions, carjacking, rape.

    So not the "golden hoarde" scenario preched by Rawlesians.
    8yrs later and they still have not recovered.....

    In our case we're "too big to fail", I heard an economist describe this, 1st the collapse of the dollar, dollar replaced by a world currency, followed by a world government.

    nah thats crazy that would never happen here....right?
  3. Tango3

    Tango3 Aimless wanderer

    good old ferfal"; good call...
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