There's doom and gloom, then there's the holy s--t variety

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Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3200
There's doom and gloom, then there's the holy s--t variety

I don't know Roger Wiegand or his philosophy, and he's selling PMs, but if his take on the economy going forward is anywhere near accurate, we're in a world of hurt, unless we have PMs and physical assets, as Chris advises.

http://www.kitco.com/ind/Wieg_cor/roger_dec12009.html

Quote:

Will 2010 be a 1930 or, comparable to 1937? Is it different this time?  When one nation state of a formerly high productive stature destroys itself with inflation, the untouched others can soften the blow and in time bail out the fallen one. This was Germany’s fate in the 1920’s. In our current instance, most all of the world’s economies are on their knees with some hurting worse than others. Who can help with recovery this time? There is no one. It will not be China as some suppose as China shall suffer the same systemic collapse as the U.S, and all of Europe, Russia, and South America. China’s neighbors Japan, Taiwan, Korea, India, Indonesia and others will join the fallen.

The interwoven complexities of international trade and finance have caught them in all in a spider’s web of systemic collapse. Those who can shall attempt a massive inflationary rescue. While it might appear to work for a few months, eventually all implodes.


Quote:

We agree with Mr. Pugsley but, this was written years ago. We would suggest that this time with most formerly productive nations becoming victims of both inflation-hyperinflation and systemic collapse; the ending could be much worse than supposed. We forecast inflation first then hyper-inflation some time down the road.

What happens between here and there? While in our view, our forecast episodic adventure takes at least 2-3 years but, no one knows for certain. We forecast 2010 to be one of the very worst years of Greater Depression II; the year 2010being the second cycle of several depressionary phases. The fall of Lehman and a surrounding crash was only Phase One. Before Phase Two terrorizes global markets, we suggest a short recovery arrives first.

Excuse me, I gotta go buy some gold and maybe some chickens.

Doug

JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2492
Re: There's doom and gloom, then there's the holy s--t ...

Doug, 

"You Had Me At Holy S--t"  LOL

Morpheus's picture
Morpheus
Status: Diamond Member (Offline)
Joined: Dec 27 2008
Posts: 1200
Re: There's doom and gloom, then there's the holy s--t ...

Doug. Might I suggest that you read "Survival+" by Charles Hugh Smith? 

It's a great read. 

The concept of a currency crisis is not only "not far fetched", but significant enough to hedge against the risk. 

I like Smith's disdain for "beans and bunker" mentality. He thinks a wipeout is in progress, but thinks the "survivalist" approach is the WORST possible approach. 

crazyhorse's picture
crazyhorse
Status: Bronze Member (Offline)
Joined: Nov 16 2008
Posts: 56
Re: There's doom and gloom, then there's the holy s--t ...

There is a free abridged version of "Survival+" available on the author's web site at http://www.oftwominds.com

ckessel's picture
ckessel
Status: Martenson Brigade Member (Offline)
Joined: Nov 12 2008
Posts: 486
Re: There's doom and gloom, then there's the holy s--t ...
Morpheus wrote:

Doug. Might I suggest that you read "Survival+" by Charles Hugh Smith? 

It's a great read. 

The concept of a currency crisis is not only "not far fetched", but significant enough to hedge against the risk. 

I like Smith's disdain for "beans and bunker" mentality. He thinks a wipeout is in progress, but thinks the "survivalist" approach is the WORST possible approach. 

I agree Morpheus,

I spent the weekend reading the publication which I thought was very well done.  It is definately a "holy  s--t " read.   IMHO  a lack of awareness and preparedness for what we face is much doomier and gloomier than any other alternative.  Building local resiliance and awareness may well turn out to be our most valuable resource. 

In any event I am happy to have this time to prepare but I think we will be tested soon enough.

Coop

 

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