Article

2009-11-21 Economy

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Posted by tipper 2009-11-21 00:15|| || Front Page|| [11130 views ] Top

#1 The financial market scenario is plausible, but credit cards will only be affected if issued by a foreign bank and the domestic consequences initially will be limited. Runs on grocery stores is silly.

My 2c worth is we will see a Sterling collapse first. They are far closer to debt insolvency than the USA. Their external debt is nearly 4 times that of the USA.

Posted by phil_b 2009-11-21 05:48|| 2009-11-21 05:48|| Front Page Top

#2 why are runs on grocery stores silly? If the dollar collapses, I'll be first in line down at the local WalMart stocking up on food while I can still afford it. I'll exchange the food with you later for something else I won't be able to afford on down the line. Heck, maybe I'll visit WalMart tomorrow.

It is getting more and more clear that we are in the middle of a global economic collapse. Printing money won't solve it. Money is nothing more than an IOU for services or products. If there are no services or products behind it, money is as worthless as grains of sand.

I'd love to be wrong, but I think that everything makes sense when you view the Obama administration through this lens. Stimulus Health care (the States and the Unions are broke and can't afford to pay and need to shift the burden to the Fed govt) are just transfusions to hemmorrhaging patients who are first in line because they are close friends of the people in power.

The money is gone folks. It was pissed away on false future promises and underfunded pensions plans. The party, funded on credit cards without the capital to back it up, is over. I'd suggest buying some supplies and getting down on your knees and praying.

Posted by Jumbo Slinerong5015 2009-11-21 07:22|| 2009-11-21 07:22|| Front Page Top

#3 Don't worry to much Peak Oilz gonna kill you anyway.

Posted by Perry Stanford White 2009-11-21 07:24|| 2009-11-21 07:24|| Front Page Top

#4 why are runs on grocery stores silly?

The US produces a surplus of food using fertilizer produced from US natural gas, packaged mostly with US sourced materials. Diesel for the farm equipment, trucks and trains are really the only import in the chain. And if things go titzup, diesel will get refinery priority well before the gas for your car.

Posted by ed 2009-11-21 08:50|| 2009-11-21 08:50|| Front Page Top

#5 The money is gone folks. It was pissed away on ~~false future promises and underfunded pensions plans~~ oil imports, auto imports and Chinese manufactures.

Posted by ed 2009-11-21 09:00|| 2009-11-21 09:00|| Front Page Top

#6 It's why Chaina is totally more screwed than the US, and the U.K. although we are screwed too.

All our savings have been wasted bailing out the upper rent-seeker class.

Posted by Bright Pebbles 2009-11-21 09:11|| 2009-11-21 09:11|| Front Page Top

#7 Hyperinflation would cause runs on grocery stores, but if that happened that would be months to years after a dollar collapse.

In general, people's reaction to a financial crisis is not to spend money.

Posted by phil_b 2009-11-21 09:12|| 2009-11-21 09:12|| Front Page Top

#8 The most likely items to sell out are consumer electronics because they will get a lot more expensive.

Posted by phil_b 2009-11-21 09:19|| 2009-11-21 09:19|| Front Page Top

#9 We all gonna die, get used to it. Enjoy what passes for life while you can. Hopefully 1 person in a thousand will live past the die-off and vote Democrat.

Posted by Perry Stanford White 2009-11-21 11:52|| 2009-11-21 11:52|| Front Page Top

#10 Jim Rogers' advice: forget that MBA; get a degree in agriculture. Invest in farmland.

Rising demand from Asia + scarce farmland = potentially huge returns on agricultural investments.

Posted by lex 2009-11-21 11:57|| 2009-11-21 11:57|| Front Page Top

#11 Rising demand from Asia + scarce farmland = potentially huge returns on agricultural investments.

Which is why I think food will become expensive here.

Posted by Jumbo Slinerong5015 2009-11-21 15:46|| 2009-11-21 15:46|| Front Page Top

#12 if things go titzup, diesel will get refinery priority well before the gas for your car

Ed, I've lived in American South-West: people there cannot survive without their cars---too spread out.

Posted by g(r)omgoru 2009-11-21 15:52|| 2009-11-21 15:52|| Front Page Top

#13 why I think food will become expensive here

Agreed. Probably evolve a two-tiered food system: a low-end system for the masses based on heavily processed sh*t-foods from HFCS, soy, transfats, and an astronomically expensive system with real food. Invest in land that produces the latter.

Posted by lex 2009-11-21 20:51|| 2009-11-21 20:51|| Front Page Top

#14 Runs on grocery stores is silly.

Not really. Nestle just lost their entire processed pumpkin crop in Illinois. 85% of the total U.S. crop.

Rain didn't mix with their humungous monoculture machines. They're plowing under the whole 5,000 acres.

Get your holiday pie fixins while you can!

Posted by KBK 2009-11-21 22:56|| 2009-11-21 22:56|| Front Page Top

23:57 Cornsilk Blondie
23:02 KBK
22:56 KBK
22:55 DarthVader
22:54 Dale
22:48 eLarson
22:39 KBK
22:34 Pappy
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21:52 Chief
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21:26 twobyfour
21:23 Frank G
21:22 Barbara Skolaut
21:16 rammer
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20:51 lex
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