American Recovery and Reinvestment Act, a complete failure...

[cheewiee]

96577

Apparently Obama missed the mark on unemployment...

[Jesuslove]

96577

Apparently Obama missed the mark on unemployment...

Segments of our economy are growing. Unemployment is still a big issue. But frankly, it could have been far worse.

[cheewiee]

Segments of our economy are growing. Unemployment is still a big issue. But frankly, it could have been far worse.

It is going to get far worse.. Our Trillion dollar a year deficit is causing other countries to dump the dollar for their reserve currencies. Gold is at record highs, and the dollar is at record lows. As more and more countries turn towards other forms of reserves, their dependency on the dollar will wane. As they lose their vested interest in the dollar, our out of control defects will cause hyperinflation... Our economy is at the apex of a double dip recession, about to head back down. Only this time, its all on Obama!

[Grank]

...it could have been far worse.

well it's the worst it has been in a long time...

i feel like you're a general at stalingrad or gettysburg saying, "it could have been worse"

[Jesuslove]

It is going to get far worse.. Our Trillion dollar a year deficit is causing other countries to dump the dollar for their reserve currencies. Gold is at record highs, and the dollar is at record lows. As more and more countries turn towards other forms of reserves, their dependency on the dollar will wane. As they lose their vested interest in the dollar, our out of control defects will cause hyperinflation... Our economy is at the apex of a double dip recession, about to head back down. Only this time, its all on Obama!

Well my advice would be to invest in gold then. I have. We (collectively) as a country, need to fix our woes.

[Grank]

Well my advice would be to invest in gold then. I have. We (collectively) as a country, need to fix our woes.

ron paul has been saying that for a while now...

prolly a bad time to buy gold tho...

[Evanescence]

I'm not convinced. the big banks and world economy need us to be back on track. All this is premature....lets see how things are in 6 months....

Our economy is just too complicated to figure out or surmise. We can see trends, thats all. I predict a boom in the next 2-7 yrs....and I hope its starts next summer..

But...

What can we do anyway?

[Grank]

What can we do anyway?

pray, work hard, provide for your family, vote, learn how to survive if things don't get better, pick up a few new skills, don't be wasteful... just a few ideas

[cheewiee]

I'm not convinced. the big banks and world economy need us to be back on track. All this is premature....lets see how things are in 6 months....

Our economy is just too complicated to figure out or surmise. We can see trends, thats all. I predict a boom in the next 2-7 yrs....and I hope its starts next summer..

But...

What can we do anyway?

Ev, what I am saying is that if the world moves from the dollar being the primary reserve currency, they no longer need us to be back on track. The world will then no longer have a vested interest in the economy of the US... other than us being a purchaser of goods..

It would be very possible for the rest of the world to make tons of money off a broke US... which is what is happening.

[HumanityisSaved]

Well my advice would be to invest in gold then. I have. We (collectively) as a country, need to fix our woes.

You and Glenn Beck with your "Invest in Gold" mantra :D

[Musicdude]

You and Glenn Beck with your "Invest in Gold" mantra :D

Dave Ramsey says gold is a poor long term investment, FWIW.

[cheewiee]

Dave Ramsey says gold is a poor long term investment, FWIW.

I don't necessarly know about that in a stable economy... however when economies collapse, Gold becomes worthless, as demand for it drops sharply...

[Musicdude]

I don't necessarly know about that in a stable economy... however when economies collapse, Gold becomes worthless, as demand for it drops sharply...

He said it recently, in our present condition.
His point was that people have the idea (probably got it from the gold investment companies) that gold is the fallback when an economy collapses, and so that will secure their investments. The truth is that when an economy collapses, a bartering system is usually what happens. People trade services for food, or services for services, but not gold. Gold would be worthless in that situation.

Farmers are going to be the wealthiest of all.

He was saying that in response to this panicky "convert your 401k into gold" idea which is becoming more popular lately.
If America's economy collapses, your 401k will be worthless, but if you had gold it would be worthless also. So it's better to hang on to your investments in case the economy does turn back around, which history has shown that it always does.

I mean if you've given up on America so much that you don't want to invest in her economy anymore, and you want to pull the investments you've already made, you might as well go ahead and pack your bags and find another country to live in if you truly think things are that bad. I hear Austrailia is nice.

[Jesuslove]

He said it recently, in our present condition.
His point was that people have the idea (probably got it from the gold investment companies) that gold is the fallback when an economy collapses, and so that will secure their investments. The truth is that when an economy collapses, a bartering system is usually what happens. People trade services for food, or services for services, but not gold. Gold would be worthless in that situation.

Farmers are going to be the wealthiest of all.

He was saying that in response to this panicky "convert your 401k into gold" idea which is becoming more popular lately.
If America's economy collapses, your 401k will be worthless, but if you had gold it would be worthless also. So it's better to hang on to your investments in case the economy does turn back around, which history has shown that it always does.

I mean if you've given up on America so much that you don't want to invest in her economy anymore, and you want to pull the investments you've already made, you might as well go ahead and pack your bags and find another country to live in if you truly think things are that bad. I hear Austrailia is nice.

Yeah, good luck with that. Who says another government will let you emigrate. Often, one has to possess special talents or skills to emigrate abroad.

[cheewiee]

He said it recently, in our present condition.
His point was that people have the idea (probably got it from the gold investment companies) that gold is the fallback when an economy collapses, and so that will secure their investments. The truth is that when an economy collapses, a bartering system is usually what happens. People trade services for food, or services for services, but not gold. Gold would be worthless in that situation.

Farmers are going to be the wealthiest of all.

He was saying that in response to this panicky "convert your 401k into gold" idea which is becoming more popular lately.
If America's economy collapses, your 401k will be worthless, but if you had gold it would be worthless also. So it's better to hang on to your investments in case the economy does turn back around, which history has shown that it always does.

I mean if you've given up on America so much that you don't want to invest in her economy anymore, and you want to pull the investments you've already made, you might as well go ahead and pack your bags and find another country to live in if you truly think things are that bad. I hear Austrailia is nice.

Your already where you should be... should the US Economy collapse, Texas is where it would be at, in NA... atleast in my opinion... They have the will power, the strongest military, as well as the strongest economy in our nation at present...

[HumanityisSaved]

Your already where you should be... should the US Economy collapse, Texas is where it would be at, in NA... atleast in my opinion... They have the will power, the strongest military, as well as the strongest economy in our nation at present...

The best thing to have in a total economic collapse is no debt, lots of guns and ammunition, and a big tract of land to fall back on. Not many will be that fortunate.

[Evanescence]

...I live among the Amish...

[HotWireD]

The best thing to have in a total economic collapse is no debt, lots of guns and ammunition, and a big tract of land to fall back on. Not many will be that fortunate.

Unfortunately, one of the most true (IMO) comments I have read for years anywhere.

That, and Faith in G_D

[Musicdude]

Yeah, good luck with that. Who says another government will let you emigrate. Often, one has to possess special talents or skills to emigrate abroad.

I can belch the alphabet. You think that would get me in?

I guess not all nations have America's immigration policy (or lack thereof).

[Musicdude]

The best thing to have in a total economic collapse is no debt, lots of guns and ammunition, and a big tract of land to fall back on. Not many will be that fortunate.

I would think if the economy collapses, your debt would be forgiven because the banks you owe money to are out of business.

[HumanityisSaved]

I would think if the economy collapses, your debt would be forgiven because the banks you owe money to are out of business.

yeah right remember The Undefeated with John Wayne and Rock Hudson- When Rock Hudson's character's house was taken by the govt. he just set fire to it and walked away to Mexico.

I'm sure you are right, debt will not matter in a total collapse.
My family has 1000 acres of farm and woodland in North-Central North Carolina there is a big pond full of fish, plenty of squirrels, rabbits, turkey, and deer. There is also a 3000 sq ft house our family built in 1790. It will sleep all of our extended family so we are set- I just feel for people that don't have anything to fall back on.

[WeaselInYerFoot]

Gold is a good idea, but NOT as an investment. It would only secure your money, since it's practically a universal currency. If the dollar fails, you grab your gold, move to a country where the gold exchange rate is high and sell it.

The only benefit I see of hyperinflation (after everything stabilizes) is the drop in the value of our debt. It's been done before, so it won't surprise me if it happens again. My mortgage could be payed off in a month!

[WeaselInYerFoot]

yeah right remember The Undefeated with John Wayne and Rock Hudson- When Rock Hudson's character's house was taken by the govt. he just set fire to it and walked away to Mexico.

I'm sure you are right, debt will not matter in a total collapse.
My family has 1000 acres of farm and woodland in North-Central North Carolina there is a big pond full of fish, plenty of squirrels, rabbits, turkey, and deer. There is also a 3000 sq ft house our family built in 1790. It will sleep all of our extended family so we are set- I just feel for people that don't have anything to fall back on.

Problem is at that point, you will have people desperate enough to use your land as well.

[HumanityisSaved]

Problem is at that point, you will have people desperate enough to use your land as well.

People would be welcomed to share but they'd have to earn it. No free-loading libbies allowed!

[cheewiee]

Gold is a good idea, but NOT as an investment. It would only secure your money, since it's practically a universal currency. If the dollar fails, you grab your gold, move to a country where the gold exchange rate is high and sell it.

The only benefit I see of hyperinflation (after everything stabilizes) is the drop in the value of our debt. It's been done before, so it won't surprise me if it happens again. My mortgage could be payed off in a month!

That is very true... but what happens while you wait for your pay to increase to match?

[Musicdude]

That is very true... but what happens while you wait for your pay to increase to match?

Your house gets forclosed on.