I don't know if it will collapse, but I do feel that we're still in the early stages of this crisis and believe it's much better to be a prepared alarmist than an unprepared victim. While I don't agree with all the viewpoints and terminology presented in this video (controversial to say the least) some valid points are made. So, watch the video and come to your own conclusion.
11 comments:
I'm sorry Randy, but I couldn't stomach the entire video.
One can't have their cake and eat it too. Heck, even a Peter Schiff or Jim Rogers acknowledge that their prescriptions will result in a hell of alot of short term pain. So this piece which seeks to lambaste everyone doesn't accomplish anything as far as I can see.
P.S. Ya'know, in looking at your bio...well it seems you've been 42 for a very long time. Have you discovered the fountain of youth there in Las Vegas?
The FDIC has no money and never had any money. Weblink
Anyone who still has one working braincell could have predicted this.
The video certainly did put a "spin" on the issues - but still believe there were a few valid points made.
:>) I'll be 43 this December. Yes, I have changed the number displayed each and every year - I was 38 back when I started this whole Blogging thing.
Thanks Anon 10:44. Here's another:
FDIC is Bankrupt
While I agree with the essence of the video, it seems a bit too hysterical even for me. Chaos in the streets by October, 2009? Seems unlikely. Perhaps by October, 2011.
Dave - Erstwhile Urban Wanderer
The recovery has begun. The repeal of FAS 157 has given the global banking industry a reprieve, and small banks simply have to take their medicine, a half dozen every week for a few years, and that doesn't matter (except to those bank's bond holders, and shareholders). Housing prices have now been fragmented into four separate categories, damaged REO, move-in ready REO, short sales....and regular RE transactions. I've enjoyed your blog for years, but it's time to really understand the end will never arrive (see Y2K).
Banking Crisis Coming (Soon ???): Weblink
It doesn't matter whether the president is called Obama, Bush, McCain or "Randy", they all would have to deal with the same ugly truth.
All the things that are needed for a martial law are already put in place.
Another scathing comment from Tickerguy: Weblink
"I've enjoyed your blog for years, but it's time to really understand the end will never arrive (see Y2K)."
What part of it were you paying attention to? The dollar system like all fiat systems before it and those who reside amongst it are unsustainable. FUNDAMENTALLY unsustainable as in fundamentally "flawed". Great work Randy!!!
Justin_n_IL
We hope for the best, but prepare for the worst. That is what realistic people do. They prepare. They do what is within their ability to prepare. It may be to have cash on hand, for some it may be to have a few gold Troy ounces. It may be to have a can stocked with a 100 lb. bag of rice, paper products, soap, canned goods, or whatever. For some, it may be to do nothing, but watch the data roll in with an open mind.
The US is in a dire situation. We don't know all of the truth, since so much is kept from the people.
We do know that in 2007 Congress passed The Radicalization and Homegrown Terror Act HR 1955 as a way to prepare for something Bush was anticipating. It never happened under his watch, but the future still awaits us.
China is watching us with a hawk like eye. If our consumer spending does not meet their basic quota standard, all bets are off.
jerry
I agree to these words that it's much better to be a prepared alarmist than an unprepared victim.....
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