Economic crises are not aberrations

[Plater1]

It's not a question of if. It's a question of when.

9 Terrifying Truths About Long-Term Economic Crises<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[tirwin1]

And the only thing certain is the more the government intervenes to avoid a crisis the larger the ultimate reckoning will be.

I thought the nation's economy would collapse back when the national debt hit $20 trillion. I was wrong. Here we are at $40 trillion and I am simply astonished things just keep chugging along.

Where is the breaking point? $50 trillion? $100 trillion? No one seems to know but I guarantee you that when the crisis comes there will be no shortage of "experts" who claim they all knew. It will be all bullshit.

 

[Plater1]

And the only thing certain is the more the government intervenes to avoid a crisis the larger the ultimate reckoning will be.

I thought the nation's economy would collapse back when the national debt hit $20 trillion. I was wrong. Here we are at $40 trillion and I am simply astonished things just keep chugging along.

Where is the breaking point? $50 trillion? $100 trillion? No one seems to know but I guarantee you that when the crisis comes there will be no shortage of "experts" who claim they all knew. It will be all bullshit.

I think the answer lies in trust. You can go nearly anywhere in the world and buy nearly anything with a USA $100 bill. Our economy is kept afloat because we have trust in our paper money and the rest of the world believes that too. As long as the rest of the world keeps debasing their money the US dollar will be trusted and used. That being said, of course there is a breaking point. That will not be a good day. Tuesday October 29, 1929 (Black Tuesday) is a good example. A lot of wealthy people unalived themselves that day. It will be bad here. It will be much worse everywhere else.

 

[Drinkthekoolaid]

Sooner....or later..... These will come true.

We've had too many politicians, for too long, make bad choices where they were willing to whore out our economic best interests in the attempt to retain power.

We will deserve what comes because we didn't do a good enough job holding these self serving politicians accountable, we got the government we as a country deserve, and we will get all that comes with it.

We don't have enough people in power who put duty, integrity and a desire to do the right thing for the country above their own interests.

 

[holdover]

We will deserve what comes because we didn't do a good enough job holding these self serving politicians accountable, we got the government we as a country deserve, and we will get all that comes with it.

couldnt disagree more. its a corrupt system . the game has always been rigged . the politicians are on the take , there's nothing you or I could have done differently the powers that be, own both sides , they cant lose, and we cant win . One big dog and pony show to let people think that they have some kind of say. you do, 2 sides of the same coin

 

[Zerex]

List of recessions in the United States - Wikipedia

en.wikipedia.org

We have had well over 50 major finaincial crisies and recessions in the USA since its founding.

Regular business cycles.

The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.

 

[holdover]

The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.

yeah, like central banks lol.

take a good at the gold price today $ 4100, Ill say that again, because I feel it bears repeating. $4100 per ounce.
now look at the price in 1970. $35 bucks , its been on an upward trajectory since 1970 when dollar was removed from gold standard

 

[Zerex]

Buy buy buy gold?.......................when it come to a recession it will be very hard to sell it except at a huge discount....little people screwed again by design..like the dozens of sports betting apps now on line to bankrupt the little guy fast.

Co Pilot:

How Sports Betting Apps Can Lead to Bankruptcy for Casual Bettors​

Multiple studies, attorney reports, and case studies show that mobile sports betting can rapidly escalate casual wagers into tens of thousands of dollars in debt, with some users filing for bankruptcy within months Bettors Insider+2.



Take 1 oz to your local supermarket gas station in a crisis. They will give you 1% on the dollar.

Coin dealers will close their doors.

 

[Plater1]

Buy buy buy gold?.......................when it come to a recession it will be very hard to sell it except at a huge discount....little people screwed again by design..like the dozens of sports betting apps now on line to bankrupt the little guy fast.

Co Pilot:

How Sports Betting Apps Can Lead to Bankruptcy for Casual Bettors​

Multiple studies, attorney reports, and case studies show that mobile sports betting can rapidly escalate casual wagers into tens of thousands of dollars in debt, with some users filing for bankruptcy within months Bettors Insider+2.



Take 1 oz to your local supermarket gas station in a crisis. They will give you 1% on the dollar.

Coin dealers will close their doors.

I would use Silver coins at the gas station or supermarket. Gold coins will hold value over the long term. In the 1980's i used to read American Survival Guide magazine. There were ads every month for dealers selling gold at $300/oz . Now that gold is $4,200/oz . It's a good store of value like property.

 

[Zerex]

The average "stop and rob" clerk knows no difference between gold, silver and paper .........credit cards only.

Trying to sell gold in a crisis at par, is like trying to sell a shovel full of manure or body parts.

Banks may buy it at 40% and hand you paper.

 

[Plater1]

The average "stop and rob" clerk knows no difference between gold, silver and paper .........credit cards only.

Trying to sell gold in a crisis at par, is like trying to sell a shovel full of manure or body parts.

Banks may buy it at 40% and hand you paper.

When that day comes, the public will learn very quickly what has worth(Gold & Silver) and what is worthless (paper and plastic). Nobody with two brain cells to rub together will trade Gold for paper. This has happened many times thru history. It's going on in several countries right now. In reality when that day comes you probably wont trade a gold coin for a bucket of Potatoes. Barter will more than likely be the most common form of commerce.