Y2HH Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Cknolls @ Aug 4, 2011 -> 07:44 PM) YES. The 2009 low will look good compared to THE LOW. I think 20-30% lower than the 666 2009 low. I think Timberlake should do a song called "Bernanke in a box." Easy to say, but you don't actually mean it. Link to comment Share on other sites More sharing options...
mr_genius Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (greg775 @ Aug 4, 2011 -> 04:57 PM) What do you all think of what happened on Wall Street today? i wasn't surprised. i expect more losses. Reading the yahoo article it says most are convinced we are in for another recession. Wow. we are If businesses are going to be laying off tons of people again, will the economy ever recover? yes there is currently a large wave of layoffs. The economy will recover, eventually. not anytime soon, unfortunately. Are we looking at the biggest depressionary period in u.s. history?? na Link to comment Share on other sites More sharing options...
jenksfart Posted August 5, 2011 Share Posted August 5, 2011 You're for sale? Link to comment Share on other sites More sharing options...
jenksfart Posted August 5, 2011 Share Posted August 5, 2011 Do you catch falling knives too? Confucius say picking bottoms= Stinky fingers Point taken. Buy Gold,Silver,Guns,Ammo,Water and seeds. Link to comment Share on other sites More sharing options...
greg775 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Cknolls @ Aug 5, 2011 -> 12:44 AM) YES. The 2009 low will look good compared to THE LOW. I think 20-30% lower than the 666 2009 low. I think Timberlake should do a song called "Bernanke in a box." If it's going to be that bad, how possibly can we turn this around? Will unemployment reach 20 percent before it's ova??? Scary. Link to comment Share on other sites More sharing options...
StrangeSox Posted August 5, 2011 Share Posted August 5, 2011 cknolls has been predicting impending doom, DOOM! since, well, forever. Link to comment Share on other sites More sharing options...
Rex Kickass Posted August 5, 2011 Share Posted August 5, 2011 Unemployment numbers better than expected. 117,000 total jobs added (150,000+ private sector jobs) and May and June also revised upwards. Not great, but better than the 85,000 forecast. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Rex Kicka** @ Aug 5, 2011 -> 07:58 AM) Unemployment numbers better than expected. 117,000 total jobs added (150,000+ private sector jobs) and May and June also revised upwards. Not great, but better than the 85,000 forecast. It was enough to push the futures green. We'll see how the buying goes with it being Friday. I wouldn't be surprised to see short covering, but I am guessing not many want to go long into the weekend. Link to comment Share on other sites More sharing options...
Rex Kickass Posted August 5, 2011 Share Posted August 5, 2011 Opened up 1%. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Rex Kicka** @ Aug 5, 2011 -> 08:46 AM) Opened up 1%. That didn't last long. Link to comment Share on other sites More sharing options...
Rex Kickass Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 09:55 AM) That didn't last long. Market is pretty mentally negative. This is nothing like 2008-2009, though. Credit is freely available, companies are sitting on stockpiles of cash. Link to comment Share on other sites More sharing options...
Y2HH Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (jenksfart @ Aug 4, 2011 -> 09:34 PM) Point taken. Buy Gold,Silver,Guns,Ammo,Water and seeds. If the economy goes into a depression, gold and silver will quickly become as worthless as the dollars you bought it with. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Rex Kicka** @ Aug 5, 2011 -> 09:14 AM) Market is pretty mentally negative. This is nothing like 2008-2009, though. Credit is freely available, companies are sitting on stockpiles of cash. The futures are trading at a 100 point discount to the cash. #notgoodatall. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Y2HH @ Aug 5, 2011 -> 10:16 AM) If the economy goes into a depression, gold and silver will quickly become as worthless as the dollars you bought it with. I'm not quite certain where that prediction comes from? Link to comment Share on other sites More sharing options...
StrangeSox Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 08:55 AM) That didn't last long. Link to comment Share on other sites More sharing options...
Y2HH Posted August 5, 2011 Share Posted August 5, 2011 (edited) QUOTE (Balta1701 @ Aug 5, 2011 -> 09:23 AM) I'm not quite certain where that prediction comes from? To begin, this is just a prediction, and this is my thought process behind it. I shouldn't use the word "quickly" as I did, because it would take a while, but people eventually catch on to the obvious. In the previous depression, which was local to the US, the dollar was tied directly to gold. Neither of those factors would hold true in a modern depression. If we were to go into another depression, it would make the previous one look tame...as we'd sink the entire world with us, combined with the fact that the dollar is no longer tied to gold. This would undoubtedly cause a short term massive spike in golds worth...but soon after people would recognize it's not easy to get, or carry, or store, or defend. As a matter of fact, most people that "own" gold, don't actually have it...they simply have a certificate saying they do, to which I say good luck collecting that now. There would be massive civil unrest, riots, looting, guns are far easier to own/get in mass quantity, and the government would retract and become largely useless since it already has no money and that scenario would make it even worse considering the sheer size of the US population now, not to mention the rest of the world. When you realize you can't eat gold or silver, it's price will drop precipitously...or you'd be willing to part with it for food in a pretty unfair means. Land, especially farmable land, will become worth something...and so will food, especially preservable food, spices, etc. Gold, as a currency is also very hard to effectively carry around and/or spend in a balanced/fair means. We don't want to see another actual depression...I don't think the modern populace could handle it. People will pretty quickly decide other things are more important than a pretty metal that weighs too much to spend effectively. Edited August 5, 2011 by Y2HH Link to comment Share on other sites More sharing options...
jenksfart Posted August 5, 2011 Share Posted August 5, 2011 If the economy goes into a depression, gold and silver will quickly become as worthless as the dollars you bought it with. I would think the exact opposite would be true. I bet gold and silver has been just fine in greece during their setbacks, not to mention China is scooping up gold left and right. If this economy goes into a depression, China has all the leverage. I assume you are speaking strictly on a domestic level, but I still disagree. Link to comment Share on other sites More sharing options...
jenksfart Posted August 5, 2011 Share Posted August 5, 2011 (edited) I suppose what your definition of "depression" would matter. I agree with you if you define it as DOOMSDAY ZOMBIE APOCALYPSE. Edited August 5, 2011 by jenksfart Link to comment Share on other sites More sharing options...
Y2HH Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (jenksfart @ Aug 5, 2011 -> 09:51 AM) I suppose what your definition of "depression" would matter. I agree with you if you define it as DOOMSDAY ZOMBIE APOCALYPSE. If the US goes into a depression, it would sink the world on a scale we can't even begin to imagine. People think it would be like the last time, and I just don't see that. If this is a house of cards -- which people love calling it -- the US is the foundation to that entire house, and every other country in the world are the cards stacked on top. It'd be BAD. Worse than a lot of people want to imagine. Link to comment Share on other sites More sharing options...
BigSqwert Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Y2HH @ Aug 5, 2011 -> 09:55 AM) If the US goes into a depression, it would sink the world on a scale we can't even begin to imagine. People think it would be like the last time, and I just don't see that. If this is a house of cards -- which people love calling it -- the US is the foundation to that entire house, and every other country in the world are the cards stacked on top. It'd be BAD. Worse than a lot of people want to imagine. I saved extra space in our bomb shelter for you. We have a 5 year supply of food and ammunition. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (BigSqwert @ Aug 5, 2011 -> 09:56 AM) I saved extra space in our bomb shelter for you. We have a 5 year supply of food and ammunition. Organic rocks don't count as ammo! Link to comment Share on other sites More sharing options...
Y2HH Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (BigSqwert @ Aug 5, 2011 -> 09:56 AM) I saved extra space in our bomb shelter for you. We have a 5 year supply of food and ammunition. Link to comment Share on other sites More sharing options...
Y2HH Posted August 5, 2011 Share Posted August 5, 2011 Anyway, I think it's something worthy of thinking about in an "outside the box" manner. Most people tend to think a new depression would be rather civil, and I don't. I predict we'd have states secede from the union, a breakup of the US government, massive riots, civil unrest, etc... Basically the worst parts of the bible. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 10:57 AM) Organic rocks don't count as ammo! Sulfur, Salt Peter, Charcoal. Mortar and Pestle, bit of water to encourage formation of coarser grains, then some sort of projectile. Seems pretty organic and ammo-like to me. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Y2HH @ Aug 5, 2011 -> 11:00 AM) Anyway, I think it's something worthy of thinking about in an "outside the box" manner. Most people tend to think a new depression would be rather civil, and I don't. I predict we'd have states secede from the union, a breakup of the US government, massive riots, civil unrest, etc... Basically the worst parts of the bible. Dogs and cats, living together? Link to comment Share on other sites More sharing options...
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