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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (26509)1/26/2010 11:19:51 AM
From: DebtBomb1 Recommendation  Read Replies (1) of 71477
 
Yep, it's from Faber and true, but an old quote. It's still relevant....this is what folks don't get....they just look back to previous recessions and look back to only 1945....they never look back to 1930. LOL.
Here's the thing....we had baby boomer peak earnings and spending in 2007. Do you think it's just a coincidence that 2007 was also the market top?
10,000 baby boomers retire every single day, 3 million per year....through about 2024.
This makes everything different than past recessions and is a similar set-up to 1930.
There's no reason to build a new road, a new house, or new store for maybe 12 years, maybe 15 years?
Spending is collapsing....so the fed has been spending....now they're trying to bankrupt themsleves and the gov't., after the consumer has shopped until they dropped.
On top of the demographics bust....you have peak oil....massive record debt....debt defaults....losing wars....unemployment compensation running out....unemployment going to maybe 35%?....busted entitlement programs....busted pension funds....states blowing up one by one....and 5 year option arms that are about to blow to hell.
CEO's have plans also to send more of our jobs overseas for slave labor so they can line their greedy pockets.
They are trying to make this look like 2003....it won't work....2003 came before the demographics bust in 2007....and the debt wasn't there in 2003.
IMHO.
Got $106 trillion to fix everything?
Faber has it right, IMHO....total financial collapse and financial armageddon.
It will be known as "The Greatest Depression". (Celente)
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