Ben Bernanke says US economy 'close to faltering'

[magicstix]

"Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments moth-eaten!"

"Wail, you who live in the market district; all your merchants will be wiped out, all who trade with silver will be destroyed!"

"They will throw their silver into the streets, and their gold will be like refuse..."

[Rockstar]

Originally Posted by magicstix

"Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments moth-eaten!"

"Wail, you who live in the market district; all your merchants will be wiped out, all who trade with silver will be destroyed!"

"They will throw their silver into the streets, and their gold will be like refuse..."

Reckon I'll be hanging around the trash can then

[magicstix]

Originally Posted by Rockstar

Reckon I'll be hanging around the trash can then

Heh, gold only has value because we assign it one. It's not an inherently useful metal in and of itself, nor is it particularly rare. It's every bit a fiat currency as something printed on paper.

[Castout]

Great news, it has been boring. Tis is an interesting times we live in.

Political, economical and global climate crises are coming our way HARD and FAST!!!

I expect mankind to fail to live up to the challenges. We're good at failing. And then to make excuses why we didn't fail. Oops.

||

[JU_88]

Yep its no big secret that there is a storm coming, the economy is about to fall on its ass. Its not a question of 'if' but 'when'.
the only real question I have is how bad is it going to be? many seem to suggest it will be far more serious than 2008 this time around.
Might be a good time to stock up on tinned food.
@Cast out, I dont think anyone will be celebrating when they lose there jobs, savings and security. we talking about possible instabillity on a global scale, I dont think anyone is safe.
I only hope a better system will rise from the ashes.

[Castout]

Originally Posted by JU_88

Yep its no big secret that there is a storm coming, the economy is about to fall on its ass. Its not a question of 'if' but 'when'.
the only real question I have is how bad is it going to be? many seem to suggest it will be far more serious than 2008 this time around.
Might be a good time to stock up on tinned food.
@Cast out, I dont think anyone will be celebrating when they lose there jobs, savings and security. we talking about possible instabillity on a global scale, I dont think anyone is safe.
I only hope a better system will rise from the ashes.

I never said about celebration and indeed nobody is safe.

I watched Home on my tv last night, downloaded from youtube.
The problem is massive. The world is facing water shortage, climate instability induced starvation, rising sea level as the water temperature keeps rising. Mankind is facing its biggest challenges it has ever seen and I don't think we are ready for any one of them. The balance of life and the ecosystem are already ruined thanks to us.

Hell we'll end up going to war against one another I bet.

Mankind is facing a global crisis, a planet wide political, economic, climate and ecological crisis all in one.

And I shudder because our kind is known to prefer to show our worst aspect in times of severe crisis. We are largely irrational, extremely selfish, foolish and primal.

[Jimbuna]

It could well be worse than that of 2008 but hopefully everyone will learn from it this time because I don't think they learned much from 2008.

[Ducimus]

Originally Posted by JU_88

Might be a good time to stock up on tinned food.
.

you know, stocking up on food is a common practice here in Utah. I should start doing that myself. Maybe i'll order a few cases of MRE's instead of this bulk food in the sealed buckets i see at all the major supermarkets.

[kraznyi_oktjabr]

Originally Posted by Ducimus

you know, stocking up on food is a common practice here in Utah. I should start doing that myself. Maybe i'll order a few cases of MRE's instead of this bulk food in the sealed buckets i see at all the major supermarkets.

"Three Lies for the Price of One": it's not a Meal, it's not Ready, and you can't Eat it.

[Skybird]

Originally Posted by magicstix

Heh, gold only has value because we assign it one. It's not an inherently useful metal in and of itself, nor is it particularly rare. It's every bit a fiat currency as something printed on paper.

People from at least two thiosuand years beg to disagree with you when you think state'S money is as precious or worthless as gold. That does not mean that gold has a nature-given value, but it has proven to be a more trustworthy value asset to trade with int imes of crisis, than printed paper money. That is why owning solid gold and owning a piece of paper with options for gold, are not the same.

There were times both in Germany and the US, when the states were so threatened by the lacking trust in their inflation money that they simply prohibited the trading and possession of gold. Happened to be the case in the USin the first half and the middle of the past century, happened to have taken place in Germany until the mid-30s of the last century. The police raided homes to search for private stocks of gold!

If the crisis has become worse enoiugh.- You will not be able to trade anything for your stocks or your 500,000,000 thaler-notes - while with gold, silver and jewelry, you will still be able to get somethign for them. These items are labelled a crisis asset because they can hold out for longer than printed notes, stocks, coins (as long as they are not made of gold or silver themselves), and fonds papers. All these valued papers die first. Gold also can die - but it dies last of them all.

Go and find somebody really old who still has memories of the big inflations in Germanyx and America. Maybe then you understand what the difference is between paper, and gold.