Peter Schiff: Dollar collapse

[Ironslave]

Economics is an area I need to learn more about, but this is scary shit.


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[Hypocrisy86]

im gonna ship myself in a UPS international box to europe

 

[Braaq]

God this is scary Why in the hell do they do this, when they KNOW what they hell they are doing? This scares the hell out of me.

 

[Tunen]

oh well

 

[Duality]

this is more than alarming. god help...err bless america

 

[Zigurd]

Fear.

I wonder if this is yet another fear tactic, or if it real. Either way it generates fear. Hahahaha, we are fucked.

 

[Ironslave]

Fear.

I wonder if this is yet another fear tactic, or if it real. Either way it generates fear. Hahahaha, we are fucked.

Definitely NOT a fear tactic, it's a scary reality though.

 

[BigBen]

Whats the point in worrying about it. As far as the market goes if u buy stock buy foreign just like peter said. Have your ass covered on all fronts, buy US and foreign stcock, and buy different types of stocks. have your money in things that people always need to buy like toilet paper, deoderant ect. your value may change form year to year but you will always have money if you invest smart and your potential value will always be higher than it was the year before. Bc if the US is in the shitter but u still have lots of money from foreign curency then u still have lots of worth!

Its nothing to be scared about, in all reality the worst thing the economists can do is tell people their will be a "crash" bc then it will be a self fulfilling prophecy bc everyone will start saving so they have moeny, and not spending, which will only make the econ worse. Peter is correct at this rate things will get worse. The anwser to the worry is to have a financial plan and account for every penny that u make and where u spend it at, so u know when and where your money is coming and going. People that have money arent worried about this, bc they probably also have money in foreign investments as well, and those im sure are doing fine. But this is a definate problem for Americans in general, its can be solved, but i dont know if the government will solve it. It seems like whatever the intellegent new thing to do that will fix the problem the government goes back to the economic philosophy from 1930's and screws things up worse.

 

[lifterdead]

What most people don't understand is that this is NOT just a fiscal crisis; it's related to the entire shape of the American economy.... (peak oil, the fractional reserve system, etc.)


And yes, it's only going to get worse.