Methinks I shall very shortly be visiting the dry foods and long life food dept again very soon and put a major dent in my credit cards.
When does an 'economic collapse' begin?
- Thread starter TexasFreedom
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Yep, it's why the garden just has to start in Feb. My wife is still a bit on the fence, not seeing the urgency, but we basically have two main planting times here, Feb and Sept., and I don't want to put it off until then. I want to get going with it.
The bad news coming in fast and thick. Stocks major tumble on Wed, US stock futures down big time, oil getting smashed.
Things are bad in Europe and world, there is no good news, developing economies were the growth engine of last recession 2008, and drop of interest rates, now no more ammo for Fed reserve and debt much much worse and it is all unraveling. Mainstream media publishing lots of scary stuff as below.
World faces wave of epic debt defaults, fears central bank veteran
http://www.telegraph.co.uk/finance/...debt-defaults-fears-central-bank-veteran.html
Things are bad in Europe and world, there is no good news, developing economies were the growth engine of last recession 2008, and drop of interest rates, now no more ammo for Fed reserve and debt much much worse and it is all unraveling. Mainstream media publishing lots of scary stuff as below.
World faces wave of epic debt defaults, fears central bank veteran
http://www.telegraph.co.uk/finance/...debt-defaults-fears-central-bank-veteran.html
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It's a perfect storm.
Nobody is buying oil, because nobody is MOVING anything. International trade is at a stand-still.
So, supply increases, cost goes down.
Add to that Iran now entering the game, and at the worst possible time....
Oil has nowhere to go but down, and that will bankrupt many energy companies, which will then default on loans, yet again collapsing major banks.
It's unavoidable, and everyone knows it, yet because it is too bad to bear, it's like everyone in conspiring to assuage consumer concerns and paint a rosier picture....but we all see the man behind the curtain, and he isn't smiling.
Nobody is buying oil, because nobody is MOVING anything. International trade is at a stand-still.
So, supply increases, cost goes down.
Add to that Iran now entering the game, and at the worst possible time....
Oil has nowhere to go but down, and that will bankrupt many energy companies, which will then default on loans, yet again collapsing major banks.
It's unavoidable, and everyone knows it, yet because it is too bad to bear, it's like everyone in conspiring to assuage consumer concerns and paint a rosier picture....but we all see the man behind the curtain, and he isn't smiling.
Back in russia, the affects of lower oil prices
Ruble taken a major hit... Again
Almost half of russia's budget is taken up by it's defense spending whereas it's oil revenue supply half of the russian budget then take into account it's social commitments
russian financed minister stated they are not attending the Davos economic forum in Switzerland because... they can't afford it. Perhaps the most truthful thing ever coming out of the kremlin!
russian ruble = 1 US dollar 81.56 russian ruble
russian ruble = 1 British Pound 115.45 russian ruble
russian ruble = 1 Euro 89.03 russian ruble
russian ruble = 1 Australian dollar 56.28 Russian Ruble
russian ruble = 1 yuan 12.40 Russian Ruble <> 1 US dollar = 6.57 yuan's (hmm)
From yahoo news,
As gas and oil account for more than a half of Russian budget revenues
Low oil prices have complicated the government's ability to meet its social spending commitments
Isolated protests have over the past few months been reported in several cities over the planned cancellation of social benefits and companies failing to pay wages on time
Ruble taken a major hit... Again
Almost half of russia's budget is taken up by it's defense spending whereas it's oil revenue supply half of the russian budget then take into account it's social commitments
russian financed minister stated they are not attending the Davos economic forum in Switzerland because... they can't afford it. Perhaps the most truthful thing ever coming out of the kremlin!
russian ruble = 1 US dollar 81.56 russian ruble
russian ruble = 1 British Pound 115.45 russian ruble
russian ruble = 1 Euro 89.03 russian ruble
russian ruble = 1 Australian dollar 56.28 Russian Ruble
russian ruble = 1 yuan 12.40 Russian Ruble <> 1 US dollar = 6.57 yuan's (hmm)
From yahoo news,
As gas and oil account for more than a half of Russian budget revenues
Low oil prices have complicated the government's ability to meet its social spending commitments
Isolated protests have over the past few months been reported in several cities over the planned cancellation of social benefits and companies failing to pay wages on time
Hmm, economist have been all over the TV saying in no way inflation is heading our way and our economy is doing good providing 200k new jobs a month so I guess a wait and see
Ahhhh.....thers the good news I was looking for.
I haven't looked at this thread for a couple weeks, and it's funny how quickly things change and yet stay the same.
Since Jan 1, market's have lost about 8% of value? In the US, China has been much worse. But the news is watching Trump day after day and mostly ignoring this little adjustment. Actually what surprises me is that they're not showing graphs from August and saying "hey we did this a few months ago, this is bargain shopping time, in August buyers made a very quick 10% profit in only a few months... so only suckers are selling now." That's the level of deceit I see, so I give them credit for not shouting this from rooftops (although some are saying exactly this).
In related news, the poisoned-with-lead water in Flint,MI is blamed on high pension salaries (city can't afford to pay for WATER!). Thank the democrat-run town and force the state to save their incompetence? And in CA there is talk of using private 401k's to support the state's failing pension funds? I think I read some of their gov't pensions are only 52% funded. Ouch.
Drip, drip, drip. This collapse is happening in very slow motion. But it moves faster every day.
Since Jan 1, market's have lost about 8% of value? In the US, China has been much worse. But the news is watching Trump day after day and mostly ignoring this little adjustment. Actually what surprises me is that they're not showing graphs from August and saying "hey we did this a few months ago, this is bargain shopping time, in August buyers made a very quick 10% profit in only a few months... so only suckers are selling now." That's the level of deceit I see, so I give them credit for not shouting this from rooftops (although some are saying exactly this).
In related news, the poisoned-with-lead water in Flint,MI is blamed on high pension salaries (city can't afford to pay for WATER!). Thank the democrat-run town and force the state to save their incompetence? And in CA there is talk of using private 401k's to support the state's failing pension funds? I think I read some of their gov't pensions are only 52% funded. Ouch.
Drip, drip, drip. This collapse is happening in very slow motion. But it moves faster every day.
Wow. A gov't job that offers a pension. That's like getting an IOW from a homeless guy. Good luck collecting on that some day! If you're collecting a pension today, get every penny you can... I predict that it will be going down and down until it's meaningless.
Here's an example. A few years ago I heard from a Russian student who had a 'full scholarship'. It was a joke. What once would have paid for a tuition & living, it now literally would pay for one meal. Whether it is 'real' inflation (vs the govt's 'fake' inflation number), or it's lack of funds or 'returns', I think any true pension is going the way of the dodo bird.
But I will do full disclosure: I am anti-pensions. I think there is no reason for a company to take a lifetime risk on you. They can't predict what health care will cost. Or how long you will live (what if everyone starts living 200 years?). Or what 'fund returns' will be. I think an employer should offer a good salary for a good day's work. When the employee leaves, the relationship ends and neither owes the other. Responsibility falls on the individual (both employees and employers) to save for their own retirement. But that's my opinion.
Here's an example. A few years ago I heard from a Russian student who had a 'full scholarship'. It was a joke. What once would have paid for a tuition & living, it now literally would pay for one meal. Whether it is 'real' inflation (vs the govt's 'fake' inflation number), or it's lack of funds or 'returns', I think any true pension is going the way of the dodo bird.
But I will do full disclosure: I am anti-pensions. I think there is no reason for a company to take a lifetime risk on you. They can't predict what health care will cost. Or how long you will live (what if everyone starts living 200 years?). Or what 'fund returns' will be. I think an employer should offer a good salary for a good day's work. When the employee leaves, the relationship ends and neither owes the other. Responsibility falls on the individual (both employees and employers) to save for their own retirement. But that's my opinion.
"Profit warnings hit crisis-highs as market turmoil wracks UK plc
Turbulence takes it toll on corporates as economists warn that only the US Fed can end the market panic
Profit warnings have rocketed to their highest levels since the financial crisis amid growing market fears that the global economy is on the brink of a major new downturn.
Figures compiled by Ernst & Young show that UK-listed companies have issued 313 downgrades over the past year, the most since 2008.
The gloom intensified in the last three months of 2015, when the proportion of companies that said they would fail to meet their targets rose to its highest level since the dotcom crash in late 2001.
The pain from these falls “has been pushed down the supply chain” said Alan Hudson, EY’s head of restructuring for UK and Ireland, as oil producers have pulled back on capital expenditure and cancelled contracts. These businesses have “been at the sharp end, hit hardest and soonest”."
http://www.telegraph.co.uk/finance/...is-highs-as-market-turmoil-wracks-UK-plc.html
Turbulence takes it toll on corporates as economists warn that only the US Fed can end the market panic
Profit warnings have rocketed to their highest levels since the financial crisis amid growing market fears that the global economy is on the brink of a major new downturn.
Figures compiled by Ernst & Young show that UK-listed companies have issued 313 downgrades over the past year, the most since 2008.
The gloom intensified in the last three months of 2015, when the proportion of companies that said they would fail to meet their targets rose to its highest level since the dotcom crash in late 2001.
The pain from these falls “has been pushed down the supply chain” said Alan Hudson, EY’s head of restructuring for UK and Ireland, as oil producers have pulled back on capital expenditure and cancelled contracts. These businesses have “been at the sharp end, hit hardest and soonest”."
http://www.telegraph.co.uk/finance/...is-highs-as-market-turmoil-wracks-UK-plc.html
Noticed this one today, things look bleeker by the day.
http://www.bugout.news/2016-02-12-d...-too-big-to-fail-banks-in-europe-is-here.html
http://www.bugout.news/2016-02-12-d...-too-big-to-fail-banks-in-europe-is-here.html
I just read this entire thread. I'm not a doom and gloom kind of guy, but have to admit the economy is on thin ice. You would have to be blind to not see that we can't sustain the bubble we have created. My best advice to all is learn to grow at least some of your food, learn basic skills to fix things yourself, and try to get out of debt.
Friday on the radio. I heard the feds are trying to figure out if they can legally have a negative interest rate. Its never been done nor sustainable but are starting to think they have no other choice. They raised it a tiny
fraction and then now dropped and want to do it some more to the negetive. Its not a good sign.
fraction and then now dropped and want to do it some more to the negetive. Its not a good sign.
Things are tanking big time - job losses, currency devaluations, company defaults, insolvencies, the entire economy is based on debt. Debt cant keep going for ever it has to fail at some point. China is just debt on debt, and is is now tanking, despite global stocks rising a bit the last week China markets were down nearly 7% yesterday that is a massive one day correction.
What is going on in RSA my wife family telling me Sabie in (old eastern Transvaal) Mpmalanga, they have put the white population in house arrest if any leave their house they are attacked and all the police are black and actually enforcing it, then barricade all the entrances to the town!! I went on honey moon to Sabie great place. I think it is a sign of things to come in South Africa.
http://www.tourismupdate.co.za/Home/Detail?articleId=106541
The article you linked to was from the economic collapse blog, best sites below to get an idea what is really happening with the economy.
http://theeconomiccollapseblog.com/
http://www.zerohedge.com/
2008 type sub prime loan defaults at the door.
http://theeconomiccollapseblog.com/archives/the-subprime-auto-loan-meltdown-is-here
http://theeconomiccollapseblog.com/archives/the-subprime-auto-loan-meltdown-is-here
Citi: Risk of global recession rising
"The risk of the global economy falling into a recession is rising as fundamentals remain poor, analysts at Citigroup said in a note Wednesday.
"We are currently in a highly precarious environment for global growth and asset markets after two to three years of relative calm," Citigroup said, noting that global growth was "unusually weak" in the fourth quarter at around 2.0 percent on-year.
"The most recent deterioration in the global outlook is due to a moderate worsening in the prospects for the advanced economies, a large increase in the uncertainty about the advanced economies' outlook (notably for the U.S.) and a tightening in financial conditions everywhere," the bank said.
At the same time, fundamentals remain poor, including concerns about a structural and cyclical slowdown in China and its "unsustainable" currency regime, excessive leverage and rising regional risks, such as the risk the U.K. may exit the European Union, it said. "
http://www.cnbc.com/2016/02/25/citi-risk-of-global-recession-rising.html
"The risk of the global economy falling into a recession is rising as fundamentals remain poor, analysts at Citigroup said in a note Wednesday.
"We are currently in a highly precarious environment for global growth and asset markets after two to three years of relative calm," Citigroup said, noting that global growth was "unusually weak" in the fourth quarter at around 2.0 percent on-year.
"The most recent deterioration in the global outlook is due to a moderate worsening in the prospects for the advanced economies, a large increase in the uncertainty about the advanced economies' outlook (notably for the U.S.) and a tightening in financial conditions everywhere," the bank said.
At the same time, fundamentals remain poor, including concerns about a structural and cyclical slowdown in China and its "unsustainable" currency regime, excessive leverage and rising regional risks, such as the risk the U.K. may exit the European Union, it said. "
http://www.cnbc.com/2016/02/25/citi-risk-of-global-recession-rising.html
Things are burning around the country, but they haven't put white poeple under house arrest, just reccomended they stay home till things calm down. I have created a thread under Southern Africa with the title "Violent protests for the last week." there i've posted pics of what has been going on around the country, thanks for the info on the pages, when i get a wee bit of time i will go and have a look.
I think the states have enjoyed more security and stability than most of the world for a long time now, but I see change on the horizon. If you look at history, the power struggle from groups trying to be in control always bring down what was built. Find a quiet part of the country to lay low my friend. Mobs are dangerous animals, and the savagery of what people are capable of when enraged is scary. Here, in the states, we see on the news the horrible things happening all over the globe. No one I work with is even slightly considering that it can happen anywhere. Always keep your ears and eyes open, and if things start getting too bad, run. Always remember, in Germany when the nazis started taking over, the Jews that decided to leave early on survived. The ones that hesitated too long no longer had the option of leaving.
Hell the way things are going on here in the States it won't take long when the downward spiral takes in affect us whites will have to start watching our backs or the "uncle toms", more so then already have but now watching our backs is considered racist But what's even sadder is the self hating white liberals have no clue what will happen to them. They think they are immune. I wish we could all get over this crap. But that's obviously not happening. I though this was just an American problem. I was obviously wrong.
In looking back over this thread, last January I mentioned that gov't pensions are nearly worthless ("an IOU from a homeless guy").
And look at today, Illinois state pensions are funded at 23%. Typically you want it 80-90% funded. Slow motion disasters.
And look at today, Illinois state pensions are funded at 23%. Typically you want it 80-90% funded. Slow motion disasters.
The financial collapse is a long time coming - there is so much manipulation but things are now starting to hit the wall. Central banks are starting to cut back in QE and low interest rates as they have come to realise it is not helping. Once the juice is cut off things will fall over quickly, interesting October coming up with potential gov shutdown. The left liberals during the G20 went mad it is a bad sign of things to come.
"It's Too Late" - 7 Signs Australia Can't Avoid Economic Apocalypse
http://www.zerohedge.com/news/2017-...igns-australia-cant-avoid-economic-apocalypse
"It's Too Late" - 7 Signs Australia Can't Avoid Economic Apocalypse
http://www.zerohedge.com/news/2017-...igns-australia-cant-avoid-economic-apocalypse
there's 300+ million guns in the US, 10 million motorcycles. There's ATVs', boats, ultralight planes. Our country has been crossed in 8 days on a bicycle. People can sell off a lot of stuff, if need be. We're not all ignorant peasants, with no gear, like the Jews were in the 1930's. We are also aware of the precedent. It's not going to be just a question of rounding up the sheep, here.
who said anything about selling anything? If the collapse is worldwide, about the only thing of value will be food, .22lr guns and ammo, silencers for same, and medicines, mostly antibiotics, but painkillers, sedatives, speed, and wound-treatment stuff will be sought by some. If it's just the collapse of one nation, yeah, gold coins will probably get you to someplace that's not nearly as bad off.
for now, build all the credit card CREDIT that you can, and rent an apt. If you see serious signs of shtf, THEN use the cards to buy all the gold coins, powdered veterinary meds and .22 ammo that you can. Dont HAVE a home that anyone can come foreclose upon, increase the taxes on, or that has any sentimental value to you, cause you can easily have to abandon it. The debt wont mean a thing once shtf, cause nobody's going to be collecting upon it. We'll be tossed back into time, worse than the 1800's in many cases, cause the animals will all be eaten inside of 2 months. There's almost no non-hybrid seeds, there' no horse-drawn farm implements, and cause the great depression didn't have 200 million, well armed, entitled, incompetent bullies running around on motorcycles, ATVs, Jeeps, ultralight planes, powered boats, etc. shtf is going to be hell on earth.
for now, build all the credit card CREDIT that you can, and rent an apt. If you see serious signs of shtf, THEN use the cards to buy all the gold coins, powdered veterinary meds and .22 ammo that you can. Dont HAVE a home that anyone can come foreclose upon, increase the taxes on, or that has any sentimental value to you, cause you can easily have to abandon it. The debt wont mean a thing once shtf, cause nobody's going to be collecting upon it. We'll be tossed back into time, worse than the 1800's in many cases, cause the animals will all be eaten inside of 2 months. There's almost no non-hybrid seeds, there' no horse-drawn farm implements, and cause the great depression didn't have 200 million, well armed, entitled, incompetent bullies running around on motorcycles, ATVs, Jeeps, ultralight planes, powered boats, etc. shtf is going to be hell on earth.
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They'd have to triple what they pay if this were done, but that would be a great deal for the employee. I've always preferred cash to medical bennies or pensions. I can MAKE money with the cash.
If the US goes under, nearly everyplace is going under with it.. Some a lot faster than others, tho. There are many areas in the US where moving a very few hundred miles will change your temps by 40F degrees, cause it changes your elevation above see level by 5000 ft. 
There's a few places that moving less than 100 miles will do so. That's bicycle stuff, folks. Move in fall and spring and avoid both heat and cold. Get a couple of 20 acre, $120 a year "mining claims'. Rent one of those bumper-mounted mini-backhoes, dig a hole back into a hillside, back an old van into the hole, cover it with a cammo net, debris and dirt. You'll have a lockable, low cost shelter that keeps out rain, wind, sun, rodents, snakes, mosquitoes, and flies. Unfortunately, ants, spiders and roaches CAN sometimes find a way in, especially the ants. The roof will rust thru in just a couple of years if you dont spray it with Rustoleum (once a year) and arrange for a plastic cover and proper drainage of moisture.
There's a few places that moving less than 100 miles will do so. That's bicycle stuff, folks. Move in fall and spring and avoid both heat and cold. Get a couple of 20 acre, $120 a year "mining claims'. Rent one of those bumper-mounted mini-backhoes, dig a hole back into a hillside, back an old van into the hole, cover it with a cammo net, debris and dirt. You'll have a lockable, low cost shelter that keeps out rain, wind, sun, rodents, snakes, mosquitoes, and flies. Unfortunately, ants, spiders and roaches CAN sometimes find a way in, especially the ants. The roof will rust thru in just a couple of years if you dont spray it with Rustoleum (once a year) and arrange for a plastic cover and proper drainage of moisture.
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"Build all the credit card debit you can". . . Really?? Not sure about your way of thinking. Most people are trying to get out of debt as much as possible. Like paying off cars, homes, etc. Doing that reminds me of those idiots on a reality show that bought into the world ending Dec 2012. . . they bought all the supplies they thought they would need to survive on credit cards laughing it off, saying that they will never have to pay it back cause the world would end as we know it and there would no longer be banks around to collect. I wonder how they are doing now? We don't buy credit. If we want it, we save till we have the money. . just makes life easier for us.
