Crisis Progress Report (10): Bust, by Robert Gore

Posted by straightlinelogic 8 years, 9 months ago to Economics
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Ideas and actions have consequences, fortunately. Debt booms bust. SLL is back in action after a week-long trip. Nothing that happened over that week, culminating in yesterday’s worst equity market drops in months, followed by today’s so-far hefty drop (never dismiss the possibility of an end-of-day “save” to make people feel a little better over the weekend) is surprising. SLL has been warning of exactly this outcome since last fall. Even the rally in oversold precious metals has been predictable (see “Buy Gold and Silver,” SLL, 7/20/15). The surprise has been how long the equity collapse was in coming. SLL was a little early, but a little early informed by competent analysis is better than a little late informed by complete cluelessness.

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  • Posted by $ MichaelAarethun 8 years, 9 months ago
    We're doing fine south of the border. What once was 12.1 pesos to the dollar is now 16.5 after bank fees. 50% increase in buying power to make up for the 30% decrease suffered under the Republicans and Democrats.
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  • Posted by Ibecame 8 years, 9 months ago
    This looks like the start of a "re-run" of history. A bit early to tell yet. If you are interested this DVD condenses a lot of it down, but doesn't go into a lot of depth. This is a set of 6 movies but the one pertinent to this is "Here is Germany". http://www.ebhe.com/dvd/WWII_Collecto...
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  • Posted by term2 8 years, 9 months ago in reply to this comment.
    Expect it's going to be confiscated to prevent windfall profits from accruing to the prepared folks
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  • Posted by term2 8 years, 9 months ago in reply to this comment.
    Gold is about as good anything though. Silver is better for short term sustenance though. Gold is a target for government. It will become a black market good once they announce confiscation programs. You won't be able to use it for big purchases without being a criminal. Preserving wealth will be difficult during a collapse. Maybe a business making widely desired things- like entertainment, private beaches, toilet paper, things like that will survive
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  • Posted by Herb7734 8 years, 9 months ago
    I don't think that the full tsunami has hit yet. The second wave is a ways off and it will make this one look like a wave in a kiddie pool.
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  • Posted by $ jbrenner 8 years, 9 months ago in reply to this comment.
    I invested in Au for the long term. However, that position has a presumption that all politicians are looters regardless of country of origin and a second presumption that all countries are run by politicians. It is possible that the second presumption might be incorrect during the next U.S. election. If it is, then my Au investment is not a good one. I guess that there is a third presumption, too. In the case of deflation, it is possible that Au values can decrease.
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  • Posted by $ jbrenner 8 years, 9 months ago
    The rally in oversold precious metals has been predictable as you state, SLL, but it still hasn't recovered nearly completely from the rather large drop over the past few months from around $1300, where it stayed for quite a while. Nonetheless, I am glad I invested in Au.
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  • Posted by Zenphamy 8 years, 9 months ago
    It all reminds me of a huge thunderstorm rolling straight at you across the plains.
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