drt4lfe
Active Member
A lot of talk about a big financial/stock market shakeup to happen by end of March, Iran drops the Dollar and the impending collapse some say will be because China will drop the dollar by end of March.....
Major shakeup this month.....
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WGregMiller
Demi-God
I found this: https://www.forbes.com/sites/dominicdudley/2018/03/01/iran-clamps-down-dollar-trading/#2c8042b954d1
Sounds like they’re trying to prop up their own currency more than anything.
I found another article where they’re trying to encourage their citizens to save with 20% investment returns on cds. Anybody remember when Jimmy Carter was president? I remember getting 16% on 6 month money markets....
drt4lfe
Active Member
The crash is long overdue, will it be this month as a lot of financial guru's are saying ? I don't know.....I think Russia and China have been looking to topple us from the inside and dropping the dollar could be the easiest way. The recent Trade issues and Tariffs may be due to what China will soon do with the U.S. dollar ? The South African Government is on the verge of creating a civil war that could reach far across Africa which has no benefit for the U.S.....China has been building infrastructure all over Africa for many years buying friends....Maybe they want all the Whites out so when the Black people start starving again it will require less effort for China to basically take over from the shadows, China needs the resources they could take from Africa.....obama's deal with the Terrorist state of Iran I think will cost us a lot in the not so distant future...I see a lot of things that are coming to a head....
Something to watch. This thread will be moved to economic collapse.
Arcticdude
Top Poster
There's always been talk about an economic collapse, and it's always just around the corner. It sells. I don't see one happening anytime soon. A correction maybe, but I don't see any signs of a "collapse".
Since nobody can truly predict an economic collapse, I do think it is prudent to always be financially prepared just in case.
Since nobody can truly predict an economic collapse, I do think it is prudent to always be financially prepared just in case.
drt4lfe
Active Member
There has never been a time in the last 40 years like our times right now and it keeps building in a bad direction....
I am curious, in the event of an economic collapse, what would the average citizen be looking at? How would it effect our day to day lives? I remember when there was economic disruption with Obama, but it didn't really effect me too much. Would an economic collapse be different?
Arcticdude
Top Poster
An economic collapse would mostly effect people with money invested in the markets. Certain sectors of the economy would be hit hard too, i.e. layoffs as people pull back on spending. Unfortunately government slackers and people on the dole wouldn't be affected.
None of my independent investment sources see any kind of collapse in the foreseeable future. The Feds are meeting at the end of the month to discuss interest rates, among other things, and if they decide to raise interest rates we could see a minor stock sell off. Nothing serious.
IMO, watching too much news would make anyone think the sky is falling. Bad news and doom and gloom sells, good news is boring for most people.
As I always say, any market correction just makes for good buying opportunities.
I personally don't see anything to be concerned about. However, I do think it would be prudent for everyone to be debt free, have some cash stashed away and learn the skills to make money no matter what happens with the economy.
None of my independent investment sources see any kind of collapse in the foreseeable future. The Feds are meeting at the end of the month to discuss interest rates, among other things, and if they decide to raise interest rates we could see a minor stock sell off. Nothing serious.
IMO, watching too much news would make anyone think the sky is falling. Bad news and doom and gloom sells, good news is boring for most people.
As I always say, any market correction just makes for good buying opportunities.
I personally don't see anything to be concerned about. However, I do think it would be prudent for everyone to be debt free, have some cash stashed away and learn the skills to make money no matter what happens with the economy.
Maverick
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I just don't see it happening, we would lose 2% economic output and cause a run on banks in other nations, china doesn't want us to lose the status but doesn't like the monopoly of the USD, it want a duel reserve currency equal to the USD. china's yuan doesn't trade openly and it's banks are to tightly controlled, it would not be excepted as a domineering currency plus it's books are not open for scrutiny as required by the world banks. china needs us, the only way it maintains its power is we are still able to purchase from them, we are china primary customer!
Several reserve currencies would not necessarily be disastrous, it would shorten our leash on borrowing and force us to cut our debt, besides, the transitional period would be short. With all that said, fxxk china and iran!
Several reserve currencies would not necessarily be disastrous, it would shorten our leash on borrowing and force us to cut our debt, besides, the transitional period would be short. With all that said, fxxk china and iran!
Arcticdude
Top Poster
For years there has been talk about a "basket" of currency's to replace the USD. The price of oil, gold etc has been tied to the USD and many countries would like to change that. I don't see any significant changes in replacing the USD any time soon.
Yes, I remember. Buying a house was a pipe dream. Buying a car was painful. The bank loan officers were like loan sharks.
Along with the double digit interest Carter also brought us double digit inflation which devalued your money as fast as you were earning interest.
Arcticdude
Top Poster
I remember those days very well. I was working as a welder at the time and got laid off. I had two little baby's at home and a future ex wife to support.
I decided to take a huge gamble and take out a second mortgage on my house to buy a working gold mine. The interest rate was 18% at the time. Fortunately the gamble paid off very well. Within 6 months I paid off the loan, and everything else, and was able to start putting some gold away for the future.
propaganda ,,,,,if by some chance it does happen those in stocks will suffer as will anyone with a 401k,,,,but I just don't see a massive collapse coming
Maverick
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In the short term we will see higher interest rates, buying a car or house is going to cost more perhaps a threat of hyper inflation brought on by fear. Most of what will happen will be driven by fear.
Perhaps the feds are thinking our debt will be cheaper and easier to payoff, who knows what they are thinking? As a rule the fiat currency were never designed to run in the black, it is a red ink currency either way not much we can do about it except just live the best we can through whatever comes our way!
Perhaps the feds are thinking our debt will be cheaper and easier to payoff, who knows what they are thinking? As a rule the fiat currency were never designed to run in the black, it is a red ink currency either way not much we can do about it except just live the best we can through whatever comes our way!
drt4lfe
Active Member
the recent past housing bust was called propaganda by a lot of people also and that did not work out well either.....propaganda is used by every side, every day. I don't see that changing anytime soon. Look what falling oil prices has done to Venezuela, what would a similar drop in the dollar do to us ? I saw what the drop in oil and natural gas did to the economy here, One day Halliburton fired everybody at local office( over 300 ) that office had been working in area for close to 40 years, no notice, fired everybody, shut down the office and put the property up for sale, Baker Hughes office 30 miles away went from 8 frac/service crews to one in a week, each crew was close to 100 workers, Weatherford shutdown getting ride of close to 400 within a few days....This was all in just my area within 50 miles, let alone the losses nationwide, 1000's of jobs gone in a blink of an eye, the effects are still being felt everyday, people losing homes and more. Was that crisis a boom and bust issue that corporations knew was coming, but did what was in their best interest ? YES, how many more busts are right around the corner ? known well in advance by the powers that be ? and when they happen they won't care about those affected....
drt4lfe
Active Member
I lived in Camp Lejeune, NC area for about 18 years, about 2 years before I left the housing boom was crazy, every piece of dirt was being built on, Corporations from California, Texas, Florida building condo after condo, house after house......never saw so much building in such a short period.....everything being sold as fast as it could be built.....crazy.....when I left and moved back to WV almost everyone one of those had a Foreclosure, For Sale, Short Sale, For Rent/Lease sign on them....it busted as bad as it boomed.....prices dropped in half overnight....One Town near by Swansboro, NC at the peak of the building frenzy stopped it, they ran off all the developers and froze all new construction for a year, they saw it coming and tried to protect themselves....I have seen the boom and bust in housing and oil/gas first hand and I don't see where we learned any lessons....what will bite us next ?
Arcticdude
Top Poster
Anyone who bases their lifestyle on a booming economy is foolish, if not down right stupid. Same goes for countries, like Venezuela. Also, anyone who thinks that we have "cheap" oil now days, and that is why Venezuela is having problems, doesn't know anything about oil. Oil is anything but cheap. If fact it's still outrageously expensive. The news always preaches doom and gloom and creates fear. Todays oil price is around $61 per bbl. Far from cheap. Here's a little history on oil prices; it wasn't until 1974 before oil even reached $5 bbl. Before '74 the price ranged from about $1.65 to $3.60 bbl. Then it wasn't until '96 before it hits $20 bbl, dropping to $11 in 1998. Oil didn't reach $50 until 2005. Then in 2016 the price was $36 per barrel. In the history of oil we are still near the top end of oil prices. Yes, it's been higher but historically oil has always been way less than it is today. How did Venezuela survive before the oil price boom? Could it be socialism that is destroying Venezuela? And not oil prices?
When it comes the real estate "crash", it just provided buying opportunities for people who know how take advantage of a down market. Many of my friends bought several houses in Florida, Las Vegas and Hawaii. They rented them out for a few years until the market rebounded and then sold for high profits.
When it comes the real estate "crash", it just provided buying opportunities for people who know how take advantage of a down market. Many of my friends bought several houses in Florida, Las Vegas and Hawaii. They rented them out for a few years until the market rebounded and then sold for high profits.
drt4lfe
Active Member
when you build your economy based on oil being 100 a barrel and start funding programs to fix your economy and then oil drops to 50 a barrel ? you fail because you just lost half of your money, how many Americans would continue to live the way they do if they took a 50% cut on money coming in ? we would be Venezuela in a few months, If welfare was cut 50% today ? it would be riot city tomorrow......and yes many people made money on the housing boom and bust, there will always be people who will profit from such events.....if china moves out of dollar as they have threatened to do especially concerning oil there is gonna be serious problems...the trade tariffs may be going on because we know china is going to drop the dollar ? we are just trying to hurt them first.....or use the tariffs to keep them on the dollar and remove tariffs once they say they will play nice ? some very serious issues going on....
drt4lfe
Active Member
Former French President under arrest....will China/Russia drop the PetroDollar at end of March ? Mad Bomber in Texas or a bigger plan ? interesting times.....
