The US is too dependent on Japan and China buying up the country's debt and could face severe economic problems if that stops, Tiger Management founder and chairman Julian Robertson told CNBC.
"It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
Robertson said inflation is a big risk if foreign countries were to stop buying bonds.
“If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent,” he said. “It's not a question of the economy. It's a question of who will lend us the money if they don't. Imagine us getting ourselves in a situation where we're totally dependent on those two countries. It's crazy.”
LINK HERE
Spain tips into depression
Spain is sliding into a full-blown economic depression with unemployment approaching levels not seen since the Second Republic of the 1930s and little chance of recovery until well into the next decade, according to a clutch of reports over recent days.
LINK HERE
I'm just guessing that 7:53 is a child on the computer with out their parents permission. You dont have to be a doomsdayer to read a chart and see that the economy is in serious trouble. Go back to playing your Playstation3 and stop commenting on the "grown-ups" websites. Precious metals worhtless?...your so little.
ReplyDeleteI'm watching silver as I want to stock up. Seems like it's going to go down before going up (?). Good price point to look for on bullion?
ReplyDeleteAnd to the first commenter... everyone has a different view on things. I can tell you in this area, retail stores are closing. Commercial space is emptying. Clients are paying very, very slowly. People are saying the economy is getting better but look around and you'll see the money isn't flowing... This economy is based mainly on the consumer buying and if they aren't buying the money isn't flowing....and that is going to hurt.
My best guess is that if some event doesn't happen before Christmas to divert everyones attention, people will have to face up after Christmas that things aren't working as "planned". If something dominates the news that will take the blame for the "latest" downturn.
They can spin it "Oh, we were clearly on the upswing and then (fill in event here" happened and well, we have a long, hard road ahead of us but we Americans are a strong people..."
Or we can go with Plan 2. Pay off any personal debt, make some reasonable preparations for a bad "winter storm". Assume there will be financial changes coming and protect yourself as best you can.
Or we can use your plan and go to the movies and get a burger and be shocked when this all hits the news. Just don't come knocking on my door asking for help.
Bank holiday by stealth
ReplyDeleteCome october, the government is going to say you have to prove you got your H1N1 shot to use the bank, go grocery shopping , etc.
You will have to show a non removable metal bracelet they will tag you with.
No bracelet, no bank, no food.
Many smaller banks and branches will be closed down 'due to the pandemic'.
The greater financial collapse will be blamed on the 'pandemic'.
All lies, of course.
USA Economy= the dog trying to
ReplyDeletetrap its tail until he gets
tired of barking, circling around looking always down to his back, getting crazy,finally
laying down to rest. His boss
passes around, pat him,and throws him a bone to lick
Good Boy!
9:14 - you nailed it. That is how our owners will stop short of forced vaccines at least at first. They will simply say you can say no to their Squalene, detergents and Mercury HOWEVER you can't fly on a plane, ride a public bus, etc.
ReplyDeleteAs for the dollar, its fate is sealed. It is doomed. Historically all fiat currencies have always failed and the dollar is the most troubled currency ever. Get commodities, PMs, NOW not later. Later will be too late. Don't be one of the suckers who get stuck with a cleared out bank account. Don't give any trust at all to any bank. The bankers are the ones who are doing all of this to us.
7:53 feverishly works to try to damage this blog with his childish comments, but he actually adds a lot of entertainment value here.
ReplyDeleteThe poster boy for the apathetic and ignorant.
7:53 you sound like Garth
ReplyDeleteTurner. The sad part about him as that many will vote for him as he runs for the Canadian Senate. Another ignorant soul in the Canadian Government? God Help us.
7:53 am and to those who fell the same good luck your going to need it
ReplyDeleteThe dollar will never be allowed to fail? Sounds like famous last words. Sounds like you have too much "American Pride." Pride always comes before a fall.
ReplyDeleteHey; what happened to DOW 10,000? LOL Yeah, new entry points for PMs coming soon. Can you imagine; exchanging paper for real wealth? We all know the golden rule, "He who has the gold makes the rules..." And paper just won't be one aspect of that system (at least not plain paper).
ReplyDelete2:48, inflation will eat alive the money in your back pocket unless we get deflation. It's obvious, not even Economics 101.
ReplyDeleteWe need a better class of agent provocateur around here.
This recession, soon to be depression has been at least 40 yrs in the making, and one thing folks can be certain of is that it hasn't gone and wont be going anywhere any time soon.You could say that Nixon came up with the recipe, Greenspan baked the cake and Bernanke has just finished icing the thing for our total and unadulterated enjoyment, and like everything else that appeases the eye, its going to add to your bottom line.enjoy!
ReplyDelete