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Depression and Inflation on Horizon

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palehorse

Lifer
Dec 21, 2005
11,521
0
76
Originally posted by: Skoorb
Originally posted by: palehorse74
What?! You mean the American people may be forced to sacrifice during a time when their country is at war?! *gasp* SAY IT AINT SO! oh the horror...

:roll:
Your comment makes me want to cut my wrists. Who the fvck goes to war and slashes taxes at the same time? Bush, that's who. Were you in support of decreased or increased taxes in the past few years? They've clearly been too low.
I never stated otherwise... so cut away my friend. I agree that the the taxcuts were ridiculous - just as the recent "stimulous package" is ridiculous.

Of course when a country is at war people should sacrifice, but most Americans don't seem to realize this. If the true cost of the war was being paid while it was spent, our taxes would already be way up and people would _really_ hate the Iraq war then.
Higher taxes may be necessary to prevent dozens of years of debt, so I personally wouldn't object to a debt mitigation strategy that includes them...

I was speaking more to the price of oil and other costs that may be attributed to the GWOT and war in Iraq.

With war comes sacrifice... for everyone.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
2
0
Originally posted by: palehorse74
Originally posted by: Skoorb
Originally posted by: palehorse74
What?! You mean the American people may be forced to sacrifice during a time when their country is at war?! *gasp* SAY IT AINT SO! oh the horror...

:roll:
Your comment makes me want to cut my wrists. Who the fvck goes to war and slashes taxes at the same time? Bush, that's who. Were you in support of decreased or increased taxes in the past few years? They've clearly been too low.
I never stated otherwise... so cut away my friend. I agree that the the taxcuts were ridiculous - just as the recent "stimulous package" is ridiculous.

Of course when a country is at war people should sacrifice, but most Americans don't seem to realize this. If the true cost of the war was being paid while it was spent, our taxes would already be way up and people would _really_ hate the Iraq war then.
Higher taxes may be necessary to prevent dozens of years of debt, so I personally wouldn't object to a debt mitigation strategy that includes them...

I was speaking more to the price of oil and other costs that may be attributed to the GWOT and war in Iraq.

With war comes sacrifice... for everyone.
Thank God, I need to go grab some bandages, quick! :)

 

Codewiz

Diamond Member
Jan 23, 2002
5,758
0
76
I was a ron paul supporter but jumping on the silver/gold bandwagon now is just nuts. We haven't hit rock bottom in the US yet but we don't have much further to fall. Gold and Silver are not going to get much higher in value. It would be like a person investing all their money in one common stock when it was close to its peak value. There is nothing to gain at this point. The time to get into gold would have been a minimum of 2 years ago. Getting in now is stupid and will just be another bubble that bursts when we finally start making a recovery.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: Codewiz
I was a ron paul supporter but jumping on the silver/gold bandwagon now is just nuts. We haven't hit rock bottom in the US yet but we don't have much further to fall. Gold and Silver are not going to get much higher in value. It would be like a person investing all their money in one common stock when it was close to its peak value. There is nothing to gain at this point. The time to get into gold would have been a minimum of 2 years ago. Getting in now is stupid and will just be another bubble that bursts when we finally start making a recovery.
lol, gold is down almost 100 from the high and oil is below 100.

What's funny is that gold, oil, and other commodities, are the bubble now. Capital ran from .bombs, to housing/debt, to commodities, now back to buying debt cheaper than par.

 

Lt 486

Banned
Mar 17, 2008
36
0
0
Well, putting it plainly...

People who want war and tax cuts at the same time simply do not care for their own future, their own children and their own country.
Same goes for people who want more social services and tax cuts.

Personally I think it would be very wise idea to have a referendum on war, and every person voted for the war should be handed a bill for war expenses.

Yeah, that will be a problem, but here what can be done:

Every state, whos senators and congressmen voted for war should get billed for war. Good compromise, I think. Great way to support the troops.

So, if you feel strongly that some cavemen in Afghanistan or Arabia are an imminent threat - pay up for new nuclear submarine to hunt them down. Want iranians get bombed? Get second mortgage on your house to make that happen. Aint't that fair?
 

BoberFett

Lifer
Oct 9, 1999
37,563
9
81
Originally posted by: palehorse74
Originally posted by: BoberFett
Originally posted by: palehorse74
Originally posted by: BoberFett
Originally posted by: palehorse74
Originally posted by: piasabird
Another topic is that I do not think only people with ARM's should get to refinance. A lot of people on fixed rate loans are suffering also. There are probably people with loans at %12 fixed or 9% fixed that if they could refinance, it would releive some pressure also.
:confused: what's stopping them?! AFAIK, anyone with decent credit can refinance at fixed rates much lower than either of those you mentioned... so ?!
The people who currently have ARMs have them for a reason, usually because they couldn't qualify for a fixed rate at the amount they wanted to borrow. Add to that declining home values and lenders would have to be stupid to refinance for more than home is worth.
"ARMs"?? I made bold the important parts of piasabird's post... :confused:
It doesn't change the fact that people with high interest loans have high rates because they didn't qualify for lower ones. Do I need to spell everything out for you?
hi. you responded talking about ARMs. you were in left field.

welcome back.
You're funnier when you cheer about killing muslims. You should stick to that.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
2
0
What's funny is that gold, oil, and other commodities, are the bubble now. Capital ran from .bombs, to housing/debt, to commodities, now back to buying debt cheaper than par.
Damnit, you need to tell us these things BEFORE the switch. It occurred to me that if I was given $1k and knew where the market would go I could be a multi-millionaire in just a few weeks, basically the only limiting factor would be how fast scottrade's severs would do my trades. Oh, to dream.
 

NoStateofMind

Diamond Member
Oct 14, 2005
9,711
6
76
Originally posted by: LegendKiller
Originally posted by: Codewiz
I was a ron paul supporter but jumping on the silver/gold bandwagon now is just nuts. We haven't hit rock bottom in the US yet but we don't have much further to fall. Gold and Silver are not going to get much higher in value. It would be like a person investing all their money in one common stock when it was close to its peak value. There is nothing to gain at this point. The time to get into gold would have been a minimum of 2 years ago. Getting in now is stupid and will just be another bubble that bursts when we finally start making a recovery.
lol, gold is down almost 100 from the high and oil is below 100.

What's funny is that gold, oil, and other commodities, are the bubble now. Capital ran from .bombs, to housing/debt, to commodities, now back to buying debt cheaper than par.
The drop is temporary. Just you wait and see ;)
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: PC Surgeon
Originally posted by: LegendKiller
Originally posted by: Codewiz
I was a ron paul supporter but jumping on the silver/gold bandwagon now is just nuts. We haven't hit rock bottom in the US yet but we don't have much further to fall. Gold and Silver are not going to get much higher in value. It would be like a person investing all their money in one common stock when it was close to its peak value. There is nothing to gain at this point. The time to get into gold would have been a minimum of 2 years ago. Getting in now is stupid and will just be another bubble that bursts when we finally start making a recovery.
lol, gold is down almost 100 from the high and oil is below 100.

What's funny is that gold, oil, and other commodities, are the bubble now. Capital ran from .bombs, to housing/debt, to commodities, now back to buying debt cheaper than par.
The drop is temporary. Just you wait and see ;)
Because commodity prices are only driven by inflation and safety, right?
 

palehorse

Lifer
Dec 21, 2005
11,521
0
76
Originally posted by: BoberFett
Originally posted by: palehorse74
Originally posted by: BoberFett
Originally posted by: palehorse74
Originally posted by: BoberFett
Originally posted by: palehorse74
Originally posted by: piasabird
Another topic is that I do not think only people with ARM's should get to refinance. A lot of people on fixed rate loans are suffering also. There are probably people with loans at %12 fixed or 9% fixed that if they could refinance, it would releive some pressure also.
:confused: what's stopping them?! AFAIK, anyone with decent credit can refinance at fixed rates much lower than either of those you mentioned... so ?!
The people who currently have ARMs have them for a reason, usually because they couldn't qualify for a fixed rate at the amount they wanted to borrow. Add to that declining home values and lenders would have to be stupid to refinance for more than home is worth.
"ARMs"?? I made bold the important parts of piasabird's post... :confused:
It doesn't change the fact that people with high interest loans have high rates because they didn't qualify for lower ones. Do I need to spell everything out for you?
hi. you responded talking about ARMs. you were in left field.

welcome back.
You're funnier when you cheer about killing muslims. You should stick to that.
I only cheer about killing the ones who carry guns and bombs. The other 99% are good peeps.

deflect much?

/fade out
 

Dissipate

Diamond Member
Jan 17, 2004
6,815
0
0
Originally posted by: Skoorb
Damnit, you need to tell us these things BEFORE the switch. It occurred to me that if I was given $1k and knew where the market would go I could be a multi-millionaire in just a few weeks, basically the only limiting factor would be how fast scottrade's severs would do my trades. Oh, to dream.
There is a way to do that, it is called becoming an insider. If you aren't an insider you are a speculator, and the vast majority of speculators make meager gains.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: Dissipate
Originally posted by: Skoorb
Damnit, you need to tell us these things BEFORE the switch. It occurred to me that if I was given $1k and knew where the market would go I could be a multi-millionaire in just a few weeks, basically the only limiting factor would be how fast scottrade's severs would do my trades. Oh, to dream.
There is a way to do that, it is called becoming an insider. If you aren't an insider you are a speculator, and the vast majority of speculators make meager gains.
lol, it's fricking easy to see that distressed debt funds are popping up everywhere. Don't be bitter, we know you jsut lost about 10% on your gold "investments". Poor baby, buys into a speculative bubble and now claims only insiders could see it.

Speculators can and do make a lot of money, they just have to be able to see bullshit prices when they appear.

I really do appreciate the Deutsche Bank double short gold fund.
 

yllus

Elite Member & Lifer
Aug 20, 2000
20,576
431
126
Originally posted by: Dissipate
Originally posted by: Skoorb
Damnit, you need to tell us these things BEFORE the switch. It occurred to me that if I was given $1k and knew where the market would go I could be a multi-millionaire in just a few weeks, basically the only limiting factor would be how fast scottrade's severs would do my trades. Oh, to dream.
There is a way to do that, it is called becoming an insider. If you aren't an insider you are a speculator, and the vast majority of speculators make meager gains.
Your dad and girlfriend might be less annoyed with you if you tell them to hold for a while - maybe a month and judge things from there. Prices should recover soonish, and probably even edge up higher this year. Nice job with buying on a high and all that, though.
 

Dissipate

Diamond Member
Jan 17, 2004
6,815
0
0
Originally posted by: LegendKiller

lol, it's fricking easy to see that distressed debt funds are popping up everywhere. Don't be bitter, we know you jsut lost about 10% on your gold "investments". Poor baby, buys into a speculative bubble and now claims only insiders could see it.

Speculators can and do make a lot of money, they just have to be able to see bullshit prices when they appear.

I really do appreciate the Deutsche Bank double short gold fund.

I don't have any gold investments save for a single 1 OZ Canadian maple leaf, which I bought for about $740, so I am still up there.

My dad still hasn't bought any gold, so he is good for now. However, I will definitely be very bullish on gold & other commodities when the huge financial problems of the federal government come home to roost.

$56 TRILLION in unfunded liabilities is not going to go away and if you know anything about psychology, incentives, rewards, and how the political system works, then the only conclusion one can reach is bankruptcy of the federal government. Politicians have no incentive to talk about or fix problems that have consequences long after they have left office.

There could be a bullish period for the economy after the mortgage meltdown is over for the next 10-20 years, but by 2030 I expect major political and economic upheaval.
 

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