Another general SP topic-How World's economic crisis is affecting you?.

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Subject: Another general SP topic-How World's economic crisis is affecting you?.
Tercio 11/30/2009 2:19:33 PM

When I started posting on SP (by 2003), the party was going on and very few were able to grasp that an economic crisis, as the one we are undergoing nowadays, was even possible. I would like to know how this crisis has changed your life (if, eventually, that has happened). Tercio

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Le Zookeeper Let me let u in on a little secret 12/1/2009 1:39:12 AM

Just like Dubai, US & UK are ready to default. US will need $3.5trillion dollars to finance its short term debt in next 12months- savings in US are about 600 billion. Even if the government seized every savings account 2.9 trillion left. US is gonna go bankrupt or print 3trillion or so dollars (hyperinflation then). In 2011 we will be in full cardiac arrest globally and at war. BTW if u were following some posters like me, we predicted the end of good times and US supremacy in 2003 or so. A lot of us new the sYit was gonna hit the fan, as soon as US attacked Iraq with borrowed money from China and started this real estate banking scam (not a very popular discussion on this forum considering the audience). It was no surprise to the informed. See the movie "The road" as thats our future, no country will be left standing. And on a personal note lots of friends are in trouble going from million dollar homes to some actually leaving the US. I planned for it so no big deal.

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Le Zookeeper Very interesting read on how Romecollapsed with its currency 12/1/2009 3:38:37 AM

What a shame that most of your responders haven't addressed the single issue that will determine if the US continues to exist as a functioning entity. I know this immediately causes a visceral negative reaction for even hinting that the US is at such a critical juncture. But it is. The Roman empire foundered in seven short years in the 3rd Century AD. The collapse came as a result of an implosion in the empire's currency. The original Denarius, the pay for one day for a Roman soldier, deteriorated to 1/25th of its original value by 301 AD. In the next 5 years it had deteriorated to 1/1000th of that. Within 3 more years it had ceased to exist.

Since 1913 the US dollar has lost over 95% of its 1913 buying power. It too is now worth approx. 1/25th of it's original value. Given the staggering deficits now being incurred and the projected multiplication of the US national debt in the next 3 years, the dollar as we know it will follow the denarius into oblivion. The key is that Rome's economic collapse caused political chaos. There were 48 Emperors in the last 1/3rd of the 3rd century!

The swiftness of the collapse resulted from what is called the cascade effect. Like a ship capsizing, the inherent stability of the vessel will allow a slow heeling over to one side until a tipping point is reached. Once the ship's center of gravity moves past the ships base the roll accelerates and the vessel capsizes in minutes. Economically this is true as well. The US is now just about at the tipping point. As the Federal Reserve has to buy ever increasing amounts of US debt that no one else will buy, the process of dollar devaluation will pick up speed. The 2010 elections will probably reflect this in political turmoil.

I think, from the comments I read, that your readers are either ignorant of this deadly process or simply refuse to accept that a nation, once the world's most economically powerful, can fall victim to its own political incompetence so swiftly. The Romans didn't believe it either.

(From a Whiskey and Gunpowder newsletter) whiskeyandgunpowder.com/

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Heorot 12/1/2009 4:37:11 PM

It's all paper and swings & roundabouts.

Between Jan 06 and July 07 I gained 15700gbp.

Between July 07 and March 09 I lost 18800gbp.

Between March 09 and now I gained 15300gbp

Net difference is a gain of around 2100gbp and rising over nearly 4 years.

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smitty237 12/2/2009 12:20:02 AM

I changed jobs and began working for a different city in the same metropolitan area. The problem was that the new city was just across the state line and had a residency requirement, meaning I had to move. I was able to find a new home rather quickly, but I had considerable trouble selling my old home. This was right after the market collapsed, so it was a buyer's market. My "north" home was on the market for almost a year and a half before it finally sold. This did not financially ruin us, but it hurt, and it will be a while before we completely recovered. I initially took a pay cut when I got this new job, but I am not making as much as I did at my old job when I left. In a few more years I will get another rather considerable raise. We'll make it, but only because we've made sacrifices and haven't made any stupid purchases. The timing was inconvenient, to be sure, but such is life.

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Godofgamblers 12/2/2009 1:34:06 AM

Indonesia has remained largely untouched. There was a slowdown in the first quarter but nothing dramatic. There is no mortgage bubble here and exposure to North America is not that significant.

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Beazz 12/2/2009 1:09:23 PM

Don't you ever get tired of making a fool of yourself with your idiotic predictions? No go back home to the terrorist dirthole nation you came from and leave us alone. Things are soooo bad here it must be better where you came from right? So hop on your camel and go lil boy!!! I'll make a prediction. The US will be standing LONG after your dirthole home nation is long gone and that's exactly why in spite of your contempt and obvious cheering for the fall of America, you simply will not take your useless ass away from here. Your home must really suck. It's obviously so bad that even a fallen USA is better then your thriving dirthole? lol

Beazz

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Le Zookeeper sysops Beactch needs to go back to his jail cell. 12/3/2009 2:01:12 AM

i do not understand why u let this ignorant idiot like beatchzz post here. Truly this guy is incredibly stupid and rude that I must bring ur attention to this ass.

This post happens to be a cut out from one of ur sponsors on this website Whiskey and Gunpowder which I accessed from ur otherwise enjoyable site.

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Le Zookeeper sysops Beactch needs to go back to his jail cell. 12/3/2009 2:02:30 AM

ALso Beatchzzz refer to the POTUS as Muzzie etc in a very deragotary manner. Certainly you do not want Nazi types posting here at all.

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mustavaris 12/4/2009 6:04:12 AM

All of my stock shares are still more valuable than when I bought them (inflation taken into account), the interest rate of my mortgage was cut down by allmost two thirds, renovation, building and such is cheaper than before and my wage is better than before, despite of near deflation state in Finnish economy. Personally I have just benefitted, me and my wife are working and the future looks good...

Nationwide it is bad though.. over 30% of the young men below 26 years are unemployed, the overall rate is likely to exceed 10% in 2010 and more and more enterprises are hitting the bottom as we talk. The working rates have decreased more than the rise in unemployment is: many have begun to study, have postponed graduation, women are taking are of homes and having more children...

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