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Thread: Is a global financial disaster inevitable?

  1. #1
    GuncoHolic Black Blade's Avatar
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    Default Is a global financial disaster inevitable?

    Is a global financial disaster inevitable?



    In my opinion, it’s not a matter of if, but when the day of reckoning will hit financial markets around the world. I mean let’s face it, the fiscal problems that have plagued this country, hell the financial problems that have plagued the world, are still simmering on the surface just waiting to erupt.

    The economic problems from 2008, you know the onea that almost brought this whole deck of cards crashing to the ground, are still alive and well.

    Think about it…. What’s changed?

    The country is still 16 trillion dollars in debt, community banks are still struggling to keep the doors open, businesses are going bankrupt in record numbers, the housing market sucks and the European Union is on the brink of collapse. Does that all sound like a healthy robust economy?

    Let’s take a look at the stats:

    88 Million Americans! – That’s the real number of people who are not employed and have stopped actively looking for a job. The number is at it’s highest levels since 1983, and completely debunks the 8.3% unemployment rate that the Government keeps repeating.

    46.5 million Americans – That’s the number of Americans who are now relying on food stamps as their primary source of income to feed their family. U.S. food-stamp use has hit an all time record high, with the number of people receiving the benefit jumping by nearly 50% since the last election. The numbers are expected to top 50 million by years end.

    $15,749,262,802,345 – That’s how much debt this country has currently racked up. Well that’s actually the number when I started writing this paragraph. In the time it took to get to this word, the number has already increased by over 1 million dollars and is growing by the second.

    15.7 million people – That’s the number of U.S. home owners who are currently underwater on their homes. According to the Zillow Negative Equity Report, nearly one in three homeowners with a mortgage owe more on their homes than their homes are worth. The average home owner owes $75,644 more than the value of their home.

    53.6 percent – That’s the number of bachelor degree college graduates under the age of 25 that are either jobless or underemployed in this country.

    56 percent of the U.S. economy – Remember those banks that were “to big to fail” that caused the economic crisis in 2008? Well those banks are still to big, and they are still causing major fiscal problems. In fact, they are much larger than they were during the banking crisis of 2008.

    The top five banks hold over $8.5 trillion in assets, that’s equal to about 56 percent of the U.S. economy. If just one of those banks were to fail, it would probably be enough to push the economy right over the edge.

    Ticking Time Bomb? – Banks forced to buy up Government Debt – Citigroup is warning that banking institutions,both in the U.S and abroad, are being forced to buy up government debt so governments around the world can rack up even more debt. In a statement to CNBC a Citigroup analyst warned, “the move could end up making the debt crisis even worse and add billions of toxic debt to the banking system”

    Insider selling hitting record highs – As financial pundits try to encourage people to jump into the stock market and invest, insiders at the top S&P 500 companies are taking an entirely different approach. In fact, insider selling among S&P 500 companies is at its highest levels in nearly 10 years. Kind of makes you wonder if they know something’s coming.

    Are you prepping for financial problems?

    Living Debt Free… Is it part of your survival plan? It’s great to be prepared for an end of days scenario but what happens when you’re faced with a foreclosure or the possibility of living on the streets? Is that not a survival situation?

    To be truly prepared for the worst, you must think of your long-term financial security. That means paying off debt, living within your means and starting an emergency fund.

    Start Prepping – If the economy crashed tomorrow what would you do? Do you have what you need to survive?

    At a minimum we suggest putting together a basic emergency preparedness plan that will help you through troubling economic times. Think about what things you need to survive, and start to stock up on them now. Food, water and shelter should all be at the top of the list.

    Now is the time to buy the things you need! I’m not talking about wasting money on crap like T.V’s, cell phones or Ipods. I’m talking about stocking up on the items you will need to live and survive in the future. Things like clothing, food, and survival gear will never lose their value, but money will. The price of everything is going up, stock up while you can.

    Survival Intelligence – The Power of Information – If you can’t afford gear, don’t worry stock up on knowledge.

    Knowledge is key to surviving any type of disaster, including an economic collapse. In a survival situation, knowledge is going to be a critical factor in determining the outcome of your situation. The ability to be able to predict what will happen in any type of disaster is an important part of being prepared. Start gathering a list of trusted resources and information sources that can help you prepare for whatever the future has in store.

    Is a global financial disaster inevitable?


    Black Blade: Most definitely get out of debt. There's FREEDOM in being debt-free. It is easier to function as a free sovereign being without that Domacles Sword of debt hanging over your head. Free yourself and while you're at it - prep like there's no tomorrow. Figure out what your costs are and work on reducing those costs with the ultimate goal of becoming self sufficient. Our government leaders oppose this of course because our economy is run on system of perpetual debt (a.k.a. "slavery"). If people became self sufficient and didn't have to "buy stuff" and pay for services then it would affect the economy. We simply don't care because there are always going to be fools who are easily separated from their money - we just don't have to be among them.
    When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin


  2. #2
    THE 9mm ADDICT MUSIBIKE's Avatar
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    It is just a matter of time till we CRASH like everyone else.
    M U S I B I K E

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    GuncoHolic Sprat's Avatar
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    Last week there was run on the banks in greece do you see that on TV (well yes it was on fox both in the new and on the business sections) newpapers or radio ( except talk radio) NO. they want there Hero to win god forbide they should tell us the truth
    thursday Spain had a run on the banks and the country was forced to nationize a few of them was that in the new TV, Papers, radio very little
    there is now serious talk of eliminating the Euro and each memebr nation going back to its own currency
    greece , spain, Ireland, portugal, ( all socialist nanny state countries)are broke Germany & franch are supprting them and do not have control over these failing economies and are going to stop soon

    we are next

    sprat
    Sprat and sprat1 are one and the same.

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    GuncoHolic twa2471's Avatar
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    YUP,,, all this makes me want to have this country end up more like Eorupe every day,,,,, NOT!!!!!

    Spend your bucks on supplys and trade goods, that is what it will take to weather the storm. Screw investments, even though that's what's needed to turn the economy around now. Stocks and bonds ain't going to be worth shit when it all falls apart, just paper, just like dollar bills.

    I try to stock up a little bit more each shopping trip to stay ahead of the game and I hope things don't fall completly apart, but I'm not confident enough of that not to stock up some. Not going to go all "super prepper " survivalist, build a bunker,,, type,, on ya here, just getting a bit better prepared for adversitys/emergencys,,, might be a good call right now,,, I'm thinking. Ireane taught me that even though I didn't get hurt here, I helped out many others that got hit really hard and are still having it rough this far down the road because they hadden't planned ahead for anything. I just don't want to be one of them if shit happens again down the raod.

    I know a few of you have tried the Wise dehydrated stuff out, and I've been thinking of getting 2-3 60 serving buckets of it for stock, seems to me to be a prudent thing to do at this juncture. What you folks think?? I've heard it's not as good as the Mt. House,,, but that stuff is spendy now, actually it has been for a while now. Is the Wise really worth the investment and is it decent enough tasting so I can use it when go camping/hiking ect?? I know if the SHTF senario strikes,, garbage would taste gourmay, but I'd like to use it for other uses and just wondered how it was over all.

  5. #5
    Gunco Member Sharpshooter's Avatar
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    I have saying since 08 that we were in for hard times. I have had may people come back and tell me how wrong I was because .gov keeps propping things up and the economy looks ok. Very soon we are going to the education bubble give. It will make the housing bubble look small in comparison when it pops. People have been running in droves to the universities and college loans as a way to weather the unemployment and survive.

    I highly urge buying big sacks of beans and rice. If possible grow a small garden you would be shocked at how much a small plot of land will grow.
    “Freedom. And Justice. If you have those two, it covers everything. You must stick to those principles and have the courage of your convictions.” - Ian Smith

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    THE 9mm ADDICT MUSIBIKE's Avatar
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    My next prep effort will be going to get all checked out at the FUN ole doctor's office. About the most fun one can ever imagine!

    M U S I B I K E

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