A devaluation or bankruptcy is most certainly coming. I posted a thread last year about the looming U.S. bankruptcy, and many rejected the possibility out of hand. Granted, the U.S. will likely choose to avoid that stigma and instead opt for severe devaluation. The effect is the same: we’re screwed. Anyone care to wager what the devaluation will be? I am guessing 50-75%.
Woe to those on fixed incomes…[/quote]
I believe in this and devaluation would be at the rate of 33% first then another round US will do the same with another 17%. I am puzzled what would be our house prices that time? Can any one take a guess? about house prices going to decline steeply or increase steeply? Frined of mine is arguing that time house prices would climb …..????? where as I am arguing due to prevalied high interest rates no one could able to afford and these prices would have to come ground with respect to those double digit interest rates. What scenario would be correct if devaluation occurs?.
