10 replies to this topic

[grahamf]

Economist Caution: Prepare For 'Massive Wealth Destruction'

 

 

 

Take immediate steps to protect your wealth . . . NOW!

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”

Faber’s pessimism is matched by well-respected economist and investor Peter Schiff, the CEO of Euro Pacific Capital. Schiff remarks that the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.”

 

 

 

What do you think? I mean, looking at the news for the past year it does seem to me like we're spackling over the leaks in the dyke.

[Pjsprojects]

Never came out of recession, loads of unemployment and skint people.

[grahamf]

In Terry Pratchett's Pyramids! There's a quote that goes something along the lines of: "you do not loath Pyramids, you merely dislike them. Once you spend a thousand years trapped in one, then you will begin to truly loath them."

 

 

That being said, closer examination of that website seems to be suspicious. All the articles I read ended with references to how you can save money or make money by "following these simple steps" which are not mentioned in the article.

[Mitch]

Save money?????

 

But there are so many games that I need to buy!!

 

The recession will just have to wait

[Chrop]

Is this US only? 

[Portal]

Mitch13pavel, on 30 Jul 2013 - 04:02 AM, said:Save money?????
But there are so many games that I need to buy!!
The recession will just have to wait

This. I'll start saving and all that when I've bought all the games.

[Nollog]

Articles like this get the clicks and money.
That's why you rarely see news like China giving awards to people or Iraqi economy booming etc.
Those kinds of stories would be too positive, and you wouldn't be scared into following the story and trying to buy your way out of it.

[Foot]

This may sound stupid but um, if they don't want things like this to happen...why doesn't the government just print more money??? Granted they can't just give it out but...I'm lost now lol

[Elric]

This may sound stupid but um, if they don't want things like this to happen...why doesn't the government just print more money??? Granted they can't just give it out but...I'm lost now lol

 

Unfortunately, that's not how it works. The money has to have some sort of worth, otherwise it would just be paper. 

[Tom]

This may sound stupid but um, if they don't want things like this to happen...why doesn't the government just print more money??? Granted they can't just give it out but...I'm lost now lol

Printing money is why the US dollar is becoming almost as worthless as the Canadian dollar.

[Zinix]

The US is still in a recession. The job market is damn hard right now.