In the very first sentence he says he has been expecting hyper inflation for 8 years. Can't take anyone seriouslywho has been dead wrong for 8 years. (especially an economist)
Secondly, hyper inflation would be a reason to buy real estate, as that would be the best hedge against hyper inflation.
This is fodder for the perma bears, and nothing more.
This proves my point. Crack for brains think we can print trillions out of
thin air for the next 50 years. lol. I'm done. you know what they say, never
argue with an idiot, they'll bring you down to their level then beat you with
You have basically lost faith in the system. Until a lot more people lose faith the system stays in place. If the system collapses, we all lose. If a bunch of people lose faith but the system does not collapse, those that lose faith LOSE. If the system stays intact Roberto and Iwog will most likely do very well. If the system fails we all LOSE. Based on that, it is probably a good bet that the system will not be allowed to fail.
Lots of reasons why 2008 can't be repeated anytime soon:
You saying it can't be repeated shows your ignorance. Lehman, Bear, Wachovia, WAMU, Countrywide, Merril, have been absorbed by the remaining big 5 banks. They are now much bigger than before the last crisis when Lehman ALONE destroyed the credit markets. You keep smoking that it can't happen again crack pipe.
How would you fix the economy? What would you do that is different from what the government is already doing?
Keep in mind economic recovery is well under way. Should we even rock the boat?
The last thing I would do is print trillions out of thin air and destroy the value of the US dollar. They already dug themselves in a big hole. The only thing we can do is stop printing and let the free market determine interest rates and go from there. The Fed's intervention is what causes these bubbles.
The economy is being fully supported by the printing press. It is equivalent to saying that an unemployed person is doing well and very wealthy because he is borrowing $50,000 a week to pay for his extravagant life style. If you think this person is doing well then I think that's a problem.
Prices coould just keep going up and then stabilize for a few years. That would be the best case scenario for the economy, jobs, deficits, growth etc etc. For the sake of this wonderful country lets hope that is exactly what happens.
That is wishful thinking in my opinion. I don't want to "pretend" that everything will be okay. I know for a fact that the financial system is on the precipice. I am trying to wake up the sheep
A total collapse like this results in most people dead. There's no "waking up".
The good news is that its complete and utter bullshit. You can find people talking like this throughout history.
Nobody ever accurately predicts economic collapse. Anyone betting on it happening is a fool, or a bullshitter.
First of all you have to differentiate between a true 100% gold standard,
bimetallic standard (based either on gold or silver), a quasi-gold standard,
and then a pure fiat standard to even talk about the specific time periods
and the root causes.
Because if you dont, you will continuously re-evaluate, over and over again. As you just noted you thought you had a hard and fast date "2-4 years since there will be fireworks by then", but as you just admitted to yourself, if no fireworks, by 2014-2016, you will "re-evaluate" likely setting another target of "2-4 years". Now we are up to 2020. And if by 2020, you still havent seen the fireworks - will you jump in then - or will you again set a benchmark juuuust out of your reach.
When you do this, you nickel and dime yourself to death - doing this over and over til suddenly you wake up, and its been 20 years later, and you STILL are waiting. This is no way to live IMO.
Right now, in 2013, you can look at 20 years and say "Oh, no - thats too long - I wont do that - I wont be waiting that long". Still, if you dont set a hard and fast date, down that slippery slope many go.
What did I do to upset you? I tried to be as dispassionate as I could when I wrote that. Still, given that you dont seem ever willing to set a hard and fast date, is it not, in fact a given that if the fireworks do not come, you will in fact, be waiting for a lifetime?
Like I said, I believe that we are on the verge of a massive economic downturn. After this downturn, I think it would be an ideal to buy. I do believe prices will fall 20-35% during this time. If you want an exact date, it will be wrong of course. This is the reason I am not giving a hard date. It's not because I am "incapable". If you think anyone can give a "hard date" then I think you're the one who is incompetent. My time frame is 2-4 years. We should see a severe recession within this time and the latest GDP numbers is proof
Do you understand the antecedent of that statement (i.e. printing trillions) is likely to continue so long as the fed exists? Are you willing to spend, potentially your full lifetime, "waiting out" the fed?
IMO, the Fed won't be able to print like this and keep rates down for very long. It will eventually destroy the currency. If rates go up to over 5%, then that itself will crush housing and the economy.