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Message: Where Are We Going?
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  • Ed, thanks for the intelligent and interesting reply. A true collapse is extremely rare in human history, i.e. events like the collapse of the pre-Greek Mycenean civilization or the Dark Ages in Europe. Of course anything is possible, but I certainly hope we're not headed for that. I think it will be worse than the Great Depression, but so what? People still did things of worth during the Great Depression. Three out of rour people did have jobs. People still ate and went to movies. Life went on.
  • The economy has already flopped. It's toast, basically, in my view. A consumer driven economy is an historical anamoly created in America for America with other people's money. It's like a "service based economy." It is not self-sustaining for any appreciable length of time, considering time from a historical perspective. You can't have a hotel without guests and keep paying your maids and dishwashers forever, no matter what economists say.
  • The federal government is going to try and do what governments have always done, keep looking for a loophole, a way to cheat the system. They're not going to cut benefits to anyone. They'll keep printing until the currency collapses. Then things will really change. Kids will move back in with parents. Parents will move back in with kids. Cell phones for high schoolers will disappear. Nursing homes will disappear. Families will get by with only one car. The right to free medical care will disappear. Out of wedlock births will go way down. Similar things have happened before. If you get a chance, get and read David Hackett Fisher's book, the Great Wave. He reviews economic cycles since the 1100's. What we're about to go through is nothing new. It's all happened before.
  • I don't think the economy is going to bounce back this time. We got our big warning in the 1970's and what happened? Volker raised interest rates and singlehandledly saved the dollar. What happened then? The same crap happened that got us into the mess in the first place, spending more than we had. Realistically, I don't think that there is any way the dollar can be saved this time. That's why I'm buying gold and silver. Everything else in the world that works as money, including all the foreign currencies, are tied to the dollar. Gold is the only thing that stands alone. I may be wrong, but if I am and the dollar survives, I'll still have a good job in Dollarland and will do well. My gold will always have some worth. If I'm right, however, the upside is astronomical. Rudy, I just can't find anywhere else to put my money right now. I have a friend who bought some fine quality diamonds the other day, nine really nice one carat stones. I think that might be a good idea, but where else can I put funds that I want to preserve?
  • Hold your Kimber. Gold in the ground could be very valuable in a few years, and Kimber has now shown that they have it.
  • I agree with you, there is no chance government will reign in spending. They're not wired that way. It won't happen.
All the best, Al
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