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(Note: This video does not appear to support any political party.)
Founder of Stansberry and Associates Investment Research Wrote:As this problem comes to a head, I expect there will be a near complete shutdown of the American economy. Our governments on both the federal and state level will shut down. Banks will not open. Business will at least temporarily shutter their doors. I expect we'll see martial law, enforced by the US military.
So what of this? Is America about to meet its end this summer? There are countless videos on YouTube that offer (arguably circumstantial) evidence of the truth of the claims made in this video. I'm not an 'End of the World' conspiracy junkee, but admittedly what actually concerns me the most is that I know a couple financial consultants and both have told me that what Stansberry is saying is very probable.
What do you think? Is the American way of life about to come crashing down around us?
If you're not a US citizen, will there be ramifications in your country?
Quote:In 2003, the U.S. Securities and Exchange Commission brought a case against Stansberry for a "scheme to defraud public investors by disseminating false information in several Internet newsletters."[1][16][17] A federal court, upheld on appeal, found that Stansberry had sent out a newsletter to subscribers, predicting one company's stock was about to soar. Stansberry maintains that his information came from a company executive; the court found that he fabricated the source.[1] The company's stock price did increase for the reasons Stansberry had pinpointed, but about a month later than Stansberry had predicted.[1] In 2007, he and his investment firm, then called "Pirate Investor," were ordered by a U.S. District Court to pay $1.5 million in restitution and civil penalties. The court rejected Stansberry’s 1st Amendment, saying "Stansberry's conduct undoubtedly involved deliberate fraud, making statements that he knew to be false."
Let me guess...and I won't waste an hour and half of my time on it...but his solution...like all republibertarianeo-conazis...is to cut taxes on the rich and fuck over the poor.
I'm way past ready for an adjustment to the what has come to be the American way/dream/call-it-what-you-will. There are so many things wrong with this country. I'd just as soon it didn't require a violent and chaotic reboot, but by all means lets mix it up.
(February 25, 2014 at 12:46 am)Minimalist Wrote: Let me guess...and I won't waste an hour and half of my time on it...but his solution...like all republibertarianeo-conazis...is to cut taxes on the rich and fuck over the poor.
No, at the end of his video he trys to convince people to invest in gold and silver and to subscribe to his video blog/etc.
Everybody wants to make a buck I suppose, but I wasn't really addressing that. It's the information he presents in the video from bona fide titans of finance that is disturbing. What he claims about the US dollar losing its standing as the world's reserve currency made sense.
You'll have to watch the video as there is too much for me to cover. Honestly though, he doesn't seem to have a political agenda. A monetary one seems likely, but the informative nature of the video is still compelling and disturbing if it is true.
Government debt is at an all time high and climbing inexorably. Unfunded liabilities are simply off the scale.
This is not news. This is entirely similar to the situation that Europe started facing up to a few years ago. The reality is that there is huge similarity in the problems between the 2.
The approach to solving the problem has been very different.
The German approach is to slash costs, control wages, increase taxation and shrink the economy in the hope that the deficit shrinks faster. The most extreme example of this has been in Greece.
To an extent the approach has worked - in that Greece is looking to post a surplus this year. The problem is that in order to do that there has been both a huge write off of debt whilst overall indebtedness has still climbed. That level of debt, now being carried by a shrunken economy is probably still unsupportable in the medium term - unless there is a US style reflation of the economy. As this runs entirely contrary to German fiscal policy (which dictates European policy) this seems highly unlikely.
Whilst the Germans have been leading a contraction (which is still to hit a number of the economies in Europe - most notably France) the US has tried to grow its way out.
If the US solution were to work it is the "pain free" model. Sadly, the process has, IMHO, been mistaken for genuine recovery.
The reality is that there is very little new in economics. The US - despite the invention of new terms (quantitative easing) is simply printing money to drive the economy forwards.
This has been done before and never ends well - the French economy of the 1700's did this for a while and then collapsed.
It can me made to work if you increase government revenues at the same time (taxation) whilst slashing costs and then work towards a balanced budget (or a slight surplus).
Rather than looking to expand the economy the aim should have been steady state for a few years. Demand needs managing as much as supply in an economy fuelled by printing money.
As demand has been artificially fuelled, production has gone up, borrowing has increased in the business sector.
Business has become reliant on unsustainable production levels. Each time the US government attempts to stem the printing of money the economy panics.
In a nutshell - a bubble has been created. It cannot be maintained for ever. There will be a dramatic crash but I don't think it will cause the banks to close fearing a run.
OTOH - the longer the bubble lasts - the more severe the crash.
What effect all this will have on the petro-dollar is difficult to say. That, Kissinger's gift to the nation, has been the main driver behind the ability to sell Treasury Bonds and fund the debt. Fortunately for the US the Euro isn't getting any more appealing as an alternative and there really isn't another one.
Just my $0.02
Kuusi palaa, ja on viimeinen kerta kun annan vaimoni laittaa jouluvalot!
Government debt is at an all time high and climbing inexorably. Unfunded liabilities are simply off the scale.
This is not news. This is entirely similar to the situation that Europe started facing up to a few years ago. The reality is that there is huge similarity in the problems between the 2.
The approach to solving the problem has been very different.
The German approach is to slash costs, control wages, increase taxation and shrink the economy in the hope that the deficit shrinks faster. The most extreme example of this has been in Greece.
To an extent the approach has worked - in that Greece is looking to post a surplus this year. The problem is that in order to do that there has been both a huge write off of debt whilst overall indebtedness has still climbed. That level of debt, now being carried by a shrunken economy is probably still unsupportable in the medium term - unless there is a US style reflation of the economy. As this runs entirely contrary to German fiscal policy (which dictates European policy) this seems highly unlikely.
Whilst the Germans have been leading a contraction (which is still to hit a number of the economies in Europe - most notably France) the US has tried to grow its way out.
If the US solution were to work it is the "pain free" model. Sadly, the process has, IMHO, been mistaken for genuine recovery.
The reality is that there is very little new in economics. The US - despite the invention of new terms (quantitative easing) is simply printing money to drive the economy forwards.
This has been done before and never ends well - the French economy of the 1700's did this for a while and then collapsed.
It can me made to work if you increase government revenues at the same time (taxation) whilst slashing costs and then work towards a balanced budget (or a slight surplus).
Rather than looking to expand the economy the aim should have been steady state for a few years. Demand needs managing as much as supply in an economy fuelled by printing money.
As demand has been artificially fuelled, production has gone up, borrowing has increased in the business sector.
Business has become reliant on unsustainable production levels. Each time the US government attempts to stem the printing of money the economy panics.
In a nutshell - a bubble has been created. It cannot be maintained for ever. There will be a dramatic crash but I don't think it will cause the banks to close fearing a run.
OTOH - the longer the bubble lasts - the more severe the crash.
What effect all this will have on the petro-dollar is difficult to say. That, Kissinger's gift to the nation, has been the main driver behind the ability to sell Treasury Bonds and fund the debt. Fortunately for the US the Euro isn't getting any more appealing as an alternative and there really isn't another one.
Max Greece, your analysis is nearly the same as in the video and I would wager that you are correct.
I think the crash will be far more devastating than you conjecture. I've seen and read other reports and it would seem that even the US government is taking precautions on some level against the threat of actual violence from the American people. What foreigners don't understand is that we (the citizens) have absolutely no control over what our corrupt government does. There seems to be a widespread misconception that most of us enjoy going to war and taking anything we want from the rest of the world. The fact is our government has gone rogue and we have lost nearly all democratic control being that the control we THINK we have is largely an illusion.
I don't know that its all going to crash in July of this year, but it does seem inevitable to me. There's no coming back from the trillions upon trillions that we owe. The US is now the greatest debtor to the entire world - mostly because of greed and blind stupidity by those who run our country, and in all honesty, about 40% of the American people that make up the collection of worthless stupid fucking douche bags that live here.
Are 'we the people' responsible? Yes, of course, but no one has more of the economic blood on their hands than the bankers and politicians of this country. I believe the system is so corrupt, we have no choice now but to wait for the inevitable end of the US as we currently know it.
It is not often that I regret teaching myself something but 2 things stand out. The first was reading Mark's Gospel - that depressed the hell out of me (on the basis of there being 2.1 billion people who believe in this shit) and the second being economics and particularly macro-economic theory.
All the macro-economic theories currently in use are fatally flawed in terms of managing a global economy. They were all designed on the basis of a national economy and simply assumed to work on a broader scale. They don't. I could show you why but it would bore the pants off you and frankly, I wish I didn't know.
In the meantime there are a couple of reasons why the crash won't actually be that dramatic (or possible far more dramatic but that is highly unlikely).
1. The nature of the global economy means that the US debt has been transferred into foreign ownership. America goes down and it takes huge proportions of the wealth of other countries with it, most notably China and the Middle East. When it comes to the crunch - they will negotiate, big time. They'd start at 50c on the $ and work down from there. I think it would settle at about 30c.
2. Once the debt has been managed the deficit can be addressed. The shock of the crash should ensure the population play ball enough to put taxes up and cut back on state services. Right now your government is running about an 8% deficit.
Until a few years ago I would have said no country has ever gotten that size of deficit into a surplus in less than 5 years. Greece, however, did it and started from 14%. Its possible, painful but possible.
Finally, although I don't want to belabour the point. The US is the global policeman. My guess - you're gonna start demanding payment for services rendered.
The combination of the size of your economy (too big to fail) and that military of yours means that actually, under it all, no real cause for panic just yet. Of course, you need political leaders who can deal with the situation but other than that, no biggie.
The alternative to the above is a global collapse and a reset. In some ways this is the more desirable option but it will be resisted and the above will be adopted as a fudge.
Now here's the final funny thing. When Greece collapsed I told anyone who would listen that Greece was the minor bird in the mine. If the bird is cheeping there's gas - everyone's in danger. DO SOMETHING!
So everyone did - they blamed the bird.
Gotta laugh.
Kuusi palaa, ja on viimeinen kerta kun annan vaimoni laittaa jouluvalot!
It is not often that I regret teaching myself something but 2 things stand out. The first was reading Mark's Gospel - that depressed the hell out of me (on the basis of there being 2.1 billion people who believe in this shit) and the second being economics and particularly macro-economic theory.
All the macro-economic theories currently in use are fatally flawed in terms of managing a global economy. They were all designed on the basis of a national economy and simply assumed to work on a broader scale. They don't. I could show you why but it would bore the pants off you and frankly, I wish I didn't know.
In the meantime there are a couple of reasons why the crash won't actually be that dramatic (or possible far more dramatic but that is highly unlikely).
1. The nature of the global economy means that the US debt has been transferred into foreign ownership. America goes down and it takes huge proportions of the wealth of other countries with it, most notably China and the Middle East. When it comes to the crunch - they will negotiate, big time. They'd start at 50c on the $ and work down from there. I think it would settle at about 30c.
2. Once the debt has been managed the deficit can be addressed. The shock of the crash should ensure the population play ball enough to put taxes up and cut back on state services. Right now your government is running about an 8% deficit.
Until a few years ago I would have said no country has ever gotten that size of deficit into a surplus in less than 5 years. Greece, however, did it and started from 14%. Its possible, painful but possible.
Finally, although I don't want to belabour the point. The US is the global policeman. My guess - you're gonna start demanding payment for services rendered.
The combination of the size of your economy (too big to fail) and that military of yours means that actually, under it all, no real cause for panic just yet. Of course, you need political leaders who can deal with the situation but other than that, no biggie.
The alternative to the above is a global collapse and a reset. In some ways this is the more desirable option but it will be resisted and the above will be adopted as a fudge.
Now here's the final funny thing. When Greece collapsed I told anyone who would listen that Greece was the minor bird in the mine. If the bird is cheeping there's gas - everyone's in danger. DO SOMETHING!
So everyone did - they blamed the bird.
Gotta laugh.
I certainly hope you're right and that the fallout is mild. I just don't see it. There are so many factors that it's doubtful anyone can predict the actual outcome. With China doing everything in its power to unload its US dollars and many other countries limiting the amount of US currency exchange for Americans, it seems they may have little need to negotiate cents on the dollar at all. Sure, everyone would take a major hit, but if you're no longer reliant on the now quickly devaluing US$ by the time it happens, your country's economy may stay solvent while the US is left to collapse.
Sadly, we are the global policeman, but demanding payment for services rendered is quite the stretch when it is we who are the debtors. It seems more likely, that the US government with its bloated military would eventually say, "Hey everybody, you can go fuck yourselves" Obviously, probably not in those words, but it does seem that our government really has no intention of paying back any debt. Does "too big to fail" mean that we believe we can never be beaten and thus we don't have to pay our debts? After all, who do we really have to worry about?
I'm not saying that's the right attitude, rather the opposite. The global Ponzi Scheme that our country created cannot support itself and it seems to me that now our government is attempting to "get out of jail free" by any means they can think of, including militarizing our own police forces and arming Homeland Security. Sure, they may never have to raise arms against its own citizens, but why take the chance right?
I don't know the outcome either and like I said, I REALLY hope you're right and it will be mild. The shit of it all is that no one can honestly say that it won't be devastating, and there is evidence that our government knows the same.
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