When will the dollar collapse?

[fertileTurtle]

I'm getting sick of the apocalypse talk. People have been preaching the end is nigh since time began. I'm frankly sick of hearing it.

Yeah, the Bush-bashers really did that too much. It's ok now though. The Messiah is here to save us. Oops 9% unemployment. Oops California and NY are bankrupt. Oops the US is on pace to double their national debt under the Obama administration. And oh yeah, there is talk of a world-wide recession, but lets bury our heads in the sand and maybe it will go away as we spend like drunken sailors, uh I mean, drunken legislators.

 

[Captain Harlock]

why are you crying about 9% unemployment anyway? Some European countries have to deal with more than (especially Spain) that and you don't see anyone whining about it here.

 

[Alle_Gory]

Oops California and NY are bankrupt.

Oops, the sky's still blue.

 

[f283000]

Oops, the sky's still blue.

Do you always just stop or do you stop to think for a min before you post?

when the states do go bankrupt what does it mean? for one it means millions of people losing benefits, going hungry, the government bailing out the states like they bailed out gm.

We spend 200 mill in iraq a day but we don't have enough for people here. It is disgusting.

 

[speakeasy]

Yeah, the Bush-bashers really did that too much. It's ok now though. The Messiah is here to save us. Oops 9% unemployment. Oops California and NY are bankrupt.

Yeah, and we all know Obama is responsible for the mess he inherited and he's supposed to turn the world 180 degrees in 6 months.

Oops the US is on pace to double their national debt under the Obama administration. And oh yeah, there is talk of a world-wide recession, but lets bury our heads in the sand and maybe it will go away as we spend like drunken sailors, uh I mean, drunken legislators.

Look, Obama is damned if he does and damned if he doesn't. So if he sits back, doesn't do anything to stop banks and auto companies from collapsing, the same people say, "Obama is good for nothing, he's just letting the economy collapse and isn't doing a damn thing!" If he does do something the same people will say "ah, look how much he's running up the debt and wasting our money!"

Reminds of some of the comments I heard about the Mexican swine flu epidemic. On one hand, you have people complaining the government of Mexico wasn't doing enough to stop the spread, then when they shut down the school and public transit, now they're a bunch of totalitarians that want to control people's freedom.

Some people are just born to whine and complain no matter what the situation. I'm utterly sick of hyper-cynics.

 

[Evzone]

Look, Obama is damned if he does and damned if he doesn't.

I am by no means a Bush apologist, but I am VERY concerned that Obama and Pelosi's stimulus plan will end up in the long run just making a bad situation worse with inflation and debt. Even Angela Merkel, Sarkozy and the EU now are getting skeptical.

 

[Gaucho]

Sorry but I rather listen to what the experts who actually know what they are talking about than some guys on the dj forums. We are heading for total collapse it's time to wake up and get ready, not keep staying asleep and denying it till it bites you in the a##.

I'm not sure a guy like Faber is an expert, more of a followed analyst.

A real expert, such as George Soros, does not see a collapse of the USD as such, but definately a heavy devaluation. Of course, with good job figures and confidence from China being showed with their meeting, the US dollar will however probably rally in the near-term now though.

 

[Alle_Gory]

Do you always just stop or do you stop to think for a min before you post?

California's been fvcked for awhile, same with new york.

Do you ever stop to do a quick search before you blab on and on?

 

[Bible_Belt]

With the massive debt and poor repayments I'm surprised the US still has a AAA rating.

http://www.reuters.com/article/newsOne/idUSTRE55E6BM20090615

U.S. likely to lose AAA rating: Prechter

By John Parry
Jun 15, 2009

NEW YORK (Reuters) - Technical analyst Robert Prechter on Monday said he sees the United States losing its top AAA credit rating by the end of 2010, as he stuck by a deeply bearish outlook on the U.S. economy and stock market.

Prechter, known for predicting the 1987 stock market crash, joins a growing coterie of market heavyweights in forecasting the United States will lose its top credit rating as the government issues trillions of dollars in debt to fund efforts to bail out the economy.

Fears about the long-term vulnerability of the prized U.S. credit rating came to the fore after Standard & Poor's in May lowered its outlook on Britain, threatening the UK's top AAA rating. That move raised fears that the United States could face a similar risk, with the hefty amounts of government debt issued in both countries to pay for financial rescues causing budget deficits to swell.

 

[TheMainMan]

Its inevitable.

The 19th century belonged to the UK, 20th Century USA. The 21st century is China's and the East.

There is a huge transfer of wealth moving from West to East. We are in a long term decline. We need to produce 1-2% GDP growth just to pay of our debt!

The East is paying for their stimulus plans through SAVINGS not DEBT. HUGE difference. Also young populations, highly educated, and produce REAL things not FINANCIAL ENGINEERING.

If you wan't to be a multi millionaire by the time you retire invest your pension/savings in the East of China, India, Brazil, etc and read -

Asia's Age of Discovery by Marc Faber
When Markets Collide by Mohamed El-Erian

http://www.youtube.com/watch?v=bhthdyUrnws


Get with the times or become poor. The choice is yours. You won't get rich off Fox or CNN or the regular newspapers.


Become a contrarian not a conventional investor-

http://www.zealllc.com/2001/commbull.htm

 

[Evzone]

@TheMainMan,

Well said. I take Mohamed El-Erian very seriously when he speaks, or for that matter anyone from PIMCO. He's probably next in line to take over PIMCO when Bill Gross retires.

 

[speakeasy]

Even if China does surpass us, that doesn't mean we sink. Spain, France, England, Japan are all former great empires, but does that mean that people in these countries are doing badly now? Of course not. They still have a high standard of living. It won't be any different here.

 

[TheMainMan]

Even if China does surpass us, that doesn't mean we sink. Spain, France, England, Japan are all former great empires, but does that mean that people in these countries are doing badly now? Of course not. They still have a high standard of living. It won't be any different here.

I write this as a UK citizen and mean the Western World is in terminal declide not just the USA.

The future tax increases and/or currency devaluations to print their way out of the mess mean we in the West are going to be much poorer than our parents generation.

If you wan't to be wealthy and retire early your investments must be in the East.

The fundamentals there are extremely positive. Our fundamentals for growth are the worst for a very long time if not ever.

Get wise and don't follow the herd. It is amazing how many US investors are scared of investing in external markets let alone the Emerging markets where growth over the next 20 years will come from.

You can't use yesterday's rules today in order to plan for a world tomorrow that is destined to be different.

 

[f283000]

Even if China does surpass us, that doesn't mean we sink. Spain, France, England, Japan are all former great empires, but does that mean that people in these countries are doing badly now? Of course not. They still have a high standard of living. It won't be any different here.

I don't think any of those countries were spending 200 million dollars a day on wars and were trillions in debt.

 

[speakeasy]

I don't think any of those countries were spending 200 million dollars a day on wars and were trillions in debt.

You have to put those figures in perspective. US debt AS A PERCENTAGE OF GDP is nothing unusual if you look at how it ranks against other nations:

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

And you have countries like Ethiopia with a lower debt percentage than we have but I certainly don't think it means their economy is healthier. Japan's is WAY higher than ours.

 

[Upside]

Everyone pack your bags we are moving to India! What's the matter? Why are you still living here in the United States?

With the country imploding you would think it would be a good idea to leave before it happens. Every country in the world has its problems. The United States actually will the the highest number of young people working in the job market within the next several years. Tell that to China who will have MILLIONS of elderly leaving the job market who will need to be taken care by the young population that doesn't exist. Not to mention the huge disparity between the number of males and females. Hundreds of thousand of babies are being aborted every year just to keep population under wraps so there wouldn't be massive food and water shortages. Not to mention the year of 1980 where 800,000 female babies were killed. Bet they regret that now.

India suffers from really high levels of illiteracy. The country that sterotypically is deemed one of the smartest in the world can't even get 36% of its population to read when in the United States only 1% of the population can't read give or take. Only 3 Indian Universities made the list of top 200 universities in the world. The United States has at LEAST 50. Inida and Pakistan are at eachothers throat. Don't be suprised if there were to be a big conflict involving those two. Corrput political leaders (Much more massive than the problems Americans face...at least to my knowledge) and a TERRIBLE infustructure will be a problem for years to come. Many Indian families must grow their own food to even survive.

There is a recession now and have been before. In 1850 the United States was offically recognized to have the best economy in the world when the country was only around for 100 years. Britan and France have been around for much longer. China has existed since the freaking stone age. Why aren't they doing as well since they had head starts. Granted China has a rapid growing economy but that really didn't develop until the 1980's. Poverty has drastically been reduced but there is a huge gap between the poor and middle class. Much larger than the US. The Chinese government will even admit that their rapid econimic development has a negavtive impact on the country that must be resolved. Even after the great depression the US was able to attain superpower status. The Soviet Union fell when the United States was growing rapidly during the 1990's. Today, during this "end of the United States as we know it" recession, the United States are testing freaking LASERS ON JETS. What other country can say that?

So give me a break with all this doom and gloom sh!t. To me it seems people want America to fail. People who live here want to make predicitions that it will fail and then say "I told you so." So shut up, go to work, focus on YOUR life and let the people who you voted into office deal with that problems the are brought up. If you don't like it here and the direction things are going then leave. A lot of other great countries in the world to go live in. This forum just loves Eastern Europe. I hear those women from Ukraine are really something.

I guess we will never see a thread that you know...might...even praise America? You know a thread like "Even after all the problems this country has it is still a great fvcking place to live" kind of thing. http://3.bp.blogspot.com/_y-cIml_UqDg/Sb76O32fKRI/AAAAAAAAAfU/o_vAd03aNZg/S1600-R/blogtitle.png

 

[Gaucho]

I write this as a UK citizen and mean the Western World is in terminal declide not just the USA.

The future tax increases and/or currency devaluations to print their way out of the mess mean we in the West are going to be much poorer than our parents generation.

If you wan't to be wealthy and retire early your investments must be in the East.

The fundamentals there are extremely positive. Our fundamentals for growth are the worst for a very long time if not ever.

Get wise and don't follow the herd. It is amazing how many US investors are scared of investing in external markets let alone the Emerging markets where growth over the next 20 years will come from.

You can't use yesterday's rules today in order to plan for a world tomorrow that is destined to be different.

lol

Ever heard of short selling? Don't need economic growth to make money trading.

 

[TheMainMan]

lol

Ever heard of short selling? Don't need economic growth to make money trading.

Trading is a mugs game. Lucky if one in five makes anything from it.

I'm talking about investing and the future is all about the East or South.

The North Western Hemisphere's reign is over.

 

[PRMoon]

This thread wreaks of BS. If anyone here really knew where this country was going or what the solution was, they'd be investing in the future and getting other people to do the same instead of posting on a forum based on picking up women about global economy.

Unless you have a billion dollar bank account, you need to shut the f*ck up.

 

[Gaucho]

Trading is a mugs game. Lucky if one in five makes anything from it.

I'm talking about investing and the future is all about the East or South.

The North Western Hemisphere's reign is over.

"Investing" is just long-term trading. In the end, you still need to open and close positions.

Guess I'm a mug then, since my entire income is derived from trading and might I add, I guarantee it far superceeds yours. The only mugs are those that can't trade.

BTW, love both your sigs.