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Post by thirsty on Aug 8, 2011 20:55:39 GMT -5
As I type this gold is at $1730 an ounce. The Nikkei is down another 4%, European and North American futures show a bleak opening tomorrow. The ECB is mulling over the idea of bailing out whole countries, the better question to ask is who is gonna bail out the western hemisphere? You got flash mobs burning down half of England: www.guardian.co.uk/uk/blog/2011/aug/08/london-riots-third-night-liveThe mayor of Philadelphia has now declared a 9 pm curfew due to recent events there: philadelphia.cbslocal.com/2011/08/08/nutter-sets-9pm-weekend-curfew-for-minors-in-center-city-university-city/Just the start, when local, regional, federal govts run out of money this will just expand, the English flashmob has already justified itself economically. When the State does nothing to discourage cheating or gain by theft and fraud it is displaying an encouragement of high time preference behaviour that will see the death spiral of civilization itself. This will devolve down racial and socio-economic lines, tribes will form and do what tribes have done for hundred of thousands of years, compete for scarce resources in a way I don't think a lot of liberal types are ready for. That's just with a debt collapse, throw in a couple more headwinds and you can stick a fork in half the world. Some charts and pretty pictures for your perusal: Make no mistake about it we are into the yellow now: Can anybody see how this chart happens, debt collapse, a blown up currency system and maybe having to live within your means? Or maybe I'm just old fashioned or something: And just to throw that one last curve ball in after we get a Carrington Event next year.... first we fry, and then we freeze: So how many of you here think the popularity contest called democracy can stop its own self interested looting of the national treasury long enough to maybe even debate any of these well within reasonable probabilities? At about that point you probably readily understand why by the time this century is over I believe we will be right back into governance by Aristocracy, otherwise known as rule by warlord, if we don't nuke ourselves into extinction first
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Post by looter on Aug 8, 2011 21:11:53 GMT -5
"So how many of you here think the popularity contest called democracy can stop its own self interested looting of the national treasury."
Congrats!! That there is quote of the century!!!!
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Post by looter on Aug 8, 2011 21:25:09 GMT -5
That quote is exactly why people who think we should bother to try to solve the debt problem are delusional. It's futile. A popularity contest doesn't involve taking soup away from the soup line when everybody is in the soup line.
The other delusional folks believe that this country always overcomes its problems. Since when? Every crisis this country ran into found us centralizing power in the Fed govt at the expense of the States. Every hiccup in the growth model lead to the Executive branch bending the Legislative over a bench and giving it to em dry.
Advances in living standards came about IN SPITE OF govt, not because of it.
Those charts you posted been around for a long while, so the folks who created them are looking smarter by the year.
Speaking of looking smarter by the year, you Thirsty, are gonna get cannonized a Nostrodamus. Stuff is going down the way you said it would.
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mfs
Hired Hand
Posts: 163
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Post by mfs on Aug 8, 2011 21:30:35 GMT -5
Unfortunately, Thristy, it is not just the western hemisphere. The best place may be Argentina and Brazil for the future. I have read a bit of the expected solar phenomena and has the potential of shutting down entire electric grids. We have the most undereducated and illiterate society in most urban areas since the 19th century. We have two to three generations of welfare recipients and more on food stamps than ever measured. We have more illegal aliens sponging benefits they do not contribute to support. Canada is easy as not as much population. This Republic was never established for democracy looting a treasury and buying votes.
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Post by thirsty on Aug 8, 2011 21:42:45 GMT -5
Look who's talking, between drunken lodger and your North Sea theory I got a run for my money. I think the era of BIG government is over. It will go broke cuz it doesn't have the ballz to say 'no'. The marxist-progressives won only long enough to get honky-tonk stomped by malthus, even the capitalists get pimpslapped, lot of debtheads who won't be growing their way of this one. So the trends are in, after five years of oil production plateau, a big cliff up ahead, the winners are the guys who wake up every morning and check out the price of gold @kitco.com, surf on over to Global Guerillas for a heaping of prognostication: globalguerrillas.typepad.com/globalguerrillas/Head over to cryptogon for a serving of how Uncle Sugar is shining you on: cryptogon.com/And then of course a quick surf to zerohedge just to keep you on the straight and narrow: www.zerohedge.com/If you can still have normal, positive conversations with sane people after taking in all that you ain't trying hard enough. Lets put it this way, most people look at me when I tell them my dream portfolio consists of gold, guns, out of the way farmland, and a forty foot container slash faraday cage stocked to capacity with solar panels, generators and custom electronics. You have a problem if you even got past the first two.
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Post by ses on Aug 8, 2011 21:54:14 GMT -5
How about tampons Thirsty? You got a container full of tampons? JK looter LOL.
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Post by thirsty on Aug 8, 2011 21:58:30 GMT -5
States the go into this with top heavy governments will get skewered. Most of the emerging markets have low debt, smaller government, unentitled populations and they squeeze more economic activity out of a barrel of oil. Pretty much the opposite situation found in the western hemisphere. They are eating our lunch now and will continue to barring a solar event or nuclear war.
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Post by thirsty on Aug 8, 2011 22:00:31 GMT -5
How about tampons Thirsty? You got a container full of tampons? JK looter LOL. Oh shit I forgot the tampons. Damnit ses what kind of survivalist/warlord would I be if I didn't have a stockpile of tampons.
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Post by thirsty on Aug 8, 2011 22:03:55 GMT -5
There is an old fashioned alternative to tampons...
Just keep 'em barefoot and pregnant... Like birth control pills last five minutes in the new, looter approved, barely distant dystopia.
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Post by thirsty on Aug 8, 2011 22:09:05 GMT -5
You know, I don't think the majority of people get that most pensions, govt included, are hugely invested in the stock market amongst other soon to be eviscerated financial instruments.
Golds $1750, Korean stock market reportedly down 10%, Nikkei almost 5%, oil down $5. How do you grow your way out of debt with oil production plateau, against competitive economies who's participants are willing to work for ten dollars a day. This don't end well....
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Post by looter on Aug 8, 2011 22:29:33 GMT -5
Look who's talking, between drunken lodger and your North Sea theory I got a run for my money. I think the era of BIG government is over. It will go broke cuz it doesn't have the ballz to say 'no'. The marxist-progressives won only long enough to get honky-tonk stomped by malthus, even the capitalists get pimpslapped, lot of debtheads who won't be growing their way of this one. So the trends are in, after five years of oil production plateau, a big cliff up ahead, the winners are the guys who wake up every morning and check out the price of gold @kitco.com, surf on over to Global Guerillas for a heaping of prognostication: globalguerrillas.typepad.com/globalguerrillas/Head over to cryptogon for a serving of how Uncle Sugar is shining you on: cryptogon.com/And then of course a quick surf to zerohedge just to keep you on the straight and narrow: www.zerohedge.com/If you can still have normal, positive conversations with sane people after taking in all that you ain't trying hard enough. Lets put it this way, most people look at me when I tell them my dream portfolio consists of gold, guns, out of the way farmland, and a forty foot container slash faraday cage stocked to capacity with solar panels, generators and custom electronics. You have a problem if you even got past the first two. Holy shit. We frequent the same sites..... Kitco.com has been my homepage since 2004, starting with desktop, then the laptop era, and even on this phone. I check their market page no less than 10 times per day out of habit. It's weird cuz, eventually you get in a rhythm and you intuitively know what the headlines on zerohedge are based on what Kitco shows you. It's uncanny. For example if tomorrow AM the dollar is down 50 points while the Nikkei is up, you already know that during the night Bernanke gave a press conference saying he intended to step on the gas. The article that confirms it is just filler. When I first discovered Kitco I became obsessed with Rhodium. I didn't understand at the time the bid/ask system, or how the Rhodium pool worked. All I knew was I had to own Rhodium somehow. couldn't get the elemental symbol for Rhodium as my cattle brand, so I settled for Rocking AU. Now that I think I understand DLT, buying and holding Rhodium makes no sense. Even silver is a question mark due to the Albatross that is it's industrial demand. Prisonplanet.com is another good one. It picked up where Orwel left off.
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Post by thirsty on Aug 8, 2011 22:42:10 GMT -5
;D Based on this chart: I long ago said that the chances of London actually hosting the 2012 Olympics will be slim and none. I reckon by the time the yardies get to burning down most of the venues, UK will be a smoking crater and gold will be about $7000.... in about a week or two.... ;D
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Post by thirsty on Aug 8, 2011 22:50:42 GMT -5
The silly island monkies couldn't balance a budget exporting a million barrels a day. Then they figured they could make up the shortfall by importing in a bunch of uncivilized wogs and now Enoch Powell looks like a fooking genius. Tell me what happens to a multi-racial nation-state that runs out of credit and gasoline???
If only we were more tolerant and open, blah, blah, blah....
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Post by looter on Aug 9, 2011 6:45:19 GMT -5
The silly island monkies couldn't balance a budget exporting a million barrels a day. Then they figured they could make up the shortfall by importing in a bunch of uncivilized wogs and now Enoch Powell looks like a fooking genius. Tell me what happens to a multi-racial nation-state that runs out of credit and gasoline??? If only we were more tolerant and open, blah, blah, blah.... A guy has to admire Norway after looking at your U.K. data. U.K. exports peaked in 1999 at like $10/barrel. By 2005 they became net importers at $50/barrel... For the love of God I don't know why they thought they had to grease up the drilling machine so hard... The U.K. is the only other jurisdiction with our suicidal policy of Intangible Drilling Cost Tax Credit (IDC) the oil companies basically pass all the drilling cost onto the tax payer. While the USA has more active drilling rigs operating than every other country in he world combined, the U.K. is the only country with more rigs per unit of proven reserves. In Reagan's memoirs he talked about his professional relationship with Thatcher. They both believed that wee lived at the end of times in terms of Biblical references. This makes sense. Why else would a country throw all its furniture in the fire? If an ice age does hit, then I guess Norway will look silly for voluntarily reducing production relative to what they could do....
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Post by 4430 on Aug 9, 2011 7:02:08 GMT -5
thirsty is the gold in your portfolio actual gold or on paper ?
At one time I thought about owning actual gold but got to thinking all the government would have to do is make it illegal to own actual gold then buy it back at a much lower price.
Hmmm didn't that happen not all that long ago !
I do own gold on paper but when things blow up no doubt it'll be worthless too !
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