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Who thinks there will be a slump?

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Commodities not looking too flash either:
http://www.kitco.com/reports/KitcoNewsMarketNuggets20110615.htmlMarket
Nuggets: Hackett Financial Advisors: Commodity Bear About To Pay Visit
15 June 2011,
By Kitco News
http://www.kitco.com/

"(Kitco News) -- Shawn Hackett, president of Hackett Financial Advisors, looks for commodities collectively to tumble in the near future. A research report to clients Wednesday says agricultural stocks and Chinese equities have underperformed lately, just as they did before the commodities crash in 2008. “Copper prices declined in advance of the major commodity top in 2008 and the recent weakness in copper prices should offer similar topping signs,” he says.........."
By Allen Sykora of Kitco News; asykora@kitco.com
 
The way I see it it is like giving some 13 year old kid 30K credit card they go of and buy important things like mobile ph. designer clothes, holidays and spend the rest is spent unwisely translate kid to Feds world wide and you have the same problem. My worst three years at school were trying to pass Grade one maths yet I can see we have over spent and you wonder the value of a MBA or UNI education like Big Ben has when they keep printing .
I guess in his case he is there until he can retire in some far away place and change his name and we will have a enclave like the Nazis's in Brazil after ww2 with the rest of the elite.
I would take 300, 000 years to count the amount of money USA owes.

I haven't seen any positive news since this started , look at Greece 2 week ago they denied they will need a bail out now they are filling in the bankruptcy forms which will drag down European countries,

Australia is living on borrowed time and the world is on a edge thats why I am living over here paying 50 c a KG for tomato's I was thinking of move in to the country but found out that is not the answer as you need hospital and close by neighbors when the shooting starts.

I have realised over the years some things don't work out the way you figured just like the markets but you can only hope you are making the right decisions and this is were ASF come in to its own.

Like to see a poll on recession /depression one day.
 
Doc Smith
Think you have hit on some thing therem maybe we should send out giggies to Big Ben et al.
 
The situation in Greece is looking really ugly... It almost looks as if default is certain.

The probability of the pressure of such a default spreading to Spain and Portugal also seems overwhelming. On that basis major European banks would be insolvent. How other financial centres could stay operational would be a mystery.

Given the history of the last financial crisis "solutions" would range from throwing further billions to bankers to wholesale reductions in government expenditure to meet debt needs. And because financial markets are now so instantly interconnected collapse could be very quick.

What happens if the atms don't spit out money ? What happens if we can't access our bank accounts ? How would wages, bills, business payments and pensions be paid ?

Of course this hasn't happened before so it can't happen now can it ?

(I really hope this is just a bad late night dream..)
 
Glen48 said:
My worst three years at school were trying to pass Grade one maths yet I can see we have over spent and you wonder the value of a MBA or UNI education like Big Ben has when they keep printing .
Click to expand...
Maybe his only true qualification is as a printer and then he just printed all his MBA's and other qualifications along with all that money he's been printing lately.

Glen48 said:
I would take 300, 000 years to count the amount of money USA owes.
Click to expand...

No it wouldn't! You've still got plenty of fingers and toes haven't you? Just repeat after me:

one trillion,two trillion, three trillion.....
 
He he he, dont you worry about just a few trillion. Forget the source now, "Privateer" or somewhere some year or so back now, it was stated that the total US debt, private and public combined is something like 600 trillion.

And we talk about less than a trillion for Greece.

The world has gone mad.
 

Maybe they will have to go back to gold as a reserve currency. Now that would crank the price of gold. How would it go" dived the worlds currencies on issue by the number of gold ounces available".
Now that would be something to see. LOL,LOL,LOL
 
No worries lot of spare cash around if you can get your hands on it:
Talk about disasters! The Pentagon continues its efforts to bankrupt the country. Judicial Watch reports:

Bundled in chunks of $100 bills, the cash was sent from the US to Iraq in turboprop military cargo planes known as C-130 Hercules. About $2.4 billion fit in each aircraft and 21 flights made trips, transporting a total of $12 billion in American currency to Iraq by 2004.

For years federal audits have determined that more than half the money cannot be accounted for but there seemed to be some hope that some of the funds could be retrieved. However, this week the Special Inspector General for Iraq Reconstruction (Stuart Bowen) essentially confirmed that $6.6 billion in cash was likely stolen and may never be recovered.

Bowen referred to it as "the largest theft of funds in national history," in a newspaper report that points out the missing money is enough to run a major public school district for an entire year. The story also says that the mystery is a growing embarrassment to the Pentagon, which has long asserted that it could track the cash if given the time to do it.

This is simply the latest of many reports documenting the pervasive fraud and waste in Iraq reconstruction efforts, which have received more than $100 billion from US taxpayers. In the last few years Inspector General audits have exposed the sordid details of costly projects that never got completed or are rife with excessive delays and shoddy work.
 
I suggest everyone grab a copy of "The Book of Eli" movie and start watching. It'll show you what life will be like in the next ten years and the sorts of objects that will become highly tradeable (shampoo and books - start storing now)

While you're at it, you better start digging in your back yard and setting up an underground bunker. Ensure you have provisions for a minimum of 10 years, plus an assortment of seeds, fertiliser, some livestock (muzzle 'em if you have to so the neighbours don't know you have some) and a suitable mate (the opposite gender kind). Ensure plenty of weapons and ammunition and at least 1 Rocket Launcher (for blowing down the door of your neighbour's bunker).

After 10 years once 99% of the people in the world have killed each other (damn cannibals!) you can emerge from your bunker (keep that shotgun in hand) and find a nice patch of ground to set up your base (preferably on a hill so you can see the cannibals coming), plant your seeds and allow your livestock to graze. Set up decent fortifications overlooking all directions leading to your home base. Set up booby traps to alert yourself to any incoming foes and then grow your crops and livestock and engage in regular mating in order to ensure the continuation of our species.

As a final note, ensure you teach your children about the failures of capitalism. We wouldn't want the world to fall apart again in the next few hundred years.

Good luck to you all.
 
I assume a harem is not classed as live stock?
Bummer
 

Yes it is not looking good. The biggest problem seems to be the lack of clear political leadership in the Western World. While Greece, Ireland , Portugal and Spain are floundering the political leaders in France, Germany and Italy don't seem to have any answer, and are mainly concerned with hanging on to their jobs.
 
Calliope said:
While Greece, Ireland , Portugal and Spain are floundering the political leaders in France, Germany and Italy don't seem to have any answer, and are mainly concerned with hanging on to their jobs.
Click to expand...

and... America, England, Australia, NZ (insert basically any western country)
 
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