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  • June 10, 2011 at 11:47 PM #703711
    CA renter
    Participant

    [quote=GH][quote=CA renter]Of course, by debasing our currency, we are effectively defaulting, IMHO.[/quote]

    I would say we are not debasing our currency. This already happened during the bubble. Now we get to choose as a collective how we default.[/quote]

    As a long-time deflationist, I would agree that the debasing of the USD has been happening for a long time, and the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is. Still, there are very real threats to the dollar, and it’s what keeps me up at night. The Fed has effectively printed up trillions more, which is why someone with cash can buy less today than they could in early 2009. It’s disconcerting to hear so many people champion inflation, as if that doesn’t come with its own set of problems.

    It will be interesting to see how this all plays out. A million dollars for a crystal ball! 😉

    June 12, 2011 at 11:34 AM #702710
    GH
    Participant

    [quote=CA renter]the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is.[/quote]

    I tend to agree on deflation at least in the short term. I disagree that deflation is preferable to inflation, since this assumes that the cash you hold becomes more valuable each day, but that cash is only good if everyone agrees it is good.

    I believe and easy math proves that without massive wage inflation to make up for the huge leveraging which has occurred in the last 25 years, virtually ALL debt currently held will default.

    As the debt defaults, those defaulting are effectively taken out of the financial system and those defaulted on are effectively also placed in a position of default and then taken out of the financial system in a very destructive manner.

    With each default, things go from worse to even worse and I believe we are already circling a black hole of debt, which will eventually destroy our currency and collapse the worldwide economic system, which depends on ever increasing debt.

    It is my position that inflation occurred in the past when money which cannot be repaid was loaned out of thin air into existence. Now we get to choose the form of the destructor (Ghost Busters)

    June 12, 2011 at 11:34 AM #702809
    GH
    Participant

    [quote=CA renter]the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is.[/quote]

    I tend to agree on deflation at least in the short term. I disagree that deflation is preferable to inflation, since this assumes that the cash you hold becomes more valuable each day, but that cash is only good if everyone agrees it is good.

    I believe and easy math proves that without massive wage inflation to make up for the huge leveraging which has occurred in the last 25 years, virtually ALL debt currently held will default.

    As the debt defaults, those defaulting are effectively taken out of the financial system and those defaulted on are effectively also placed in a position of default and then taken out of the financial system in a very destructive manner.

    With each default, things go from worse to even worse and I believe we are already circling a black hole of debt, which will eventually destroy our currency and collapse the worldwide economic system, which depends on ever increasing debt.

    It is my position that inflation occurred in the past when money which cannot be repaid was loaned out of thin air into existence. Now we get to choose the form of the destructor (Ghost Busters)

    June 12, 2011 at 11:34 AM #703400
    GH
    Participant

    [quote=CA renter]the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is.[/quote]

    I tend to agree on deflation at least in the short term. I disagree that deflation is preferable to inflation, since this assumes that the cash you hold becomes more valuable each day, but that cash is only good if everyone agrees it is good.

    I believe and easy math proves that without massive wage inflation to make up for the huge leveraging which has occurred in the last 25 years, virtually ALL debt currently held will default.

    As the debt defaults, those defaulting are effectively taken out of the financial system and those defaulted on are effectively also placed in a position of default and then taken out of the financial system in a very destructive manner.

    With each default, things go from worse to even worse and I believe we are already circling a black hole of debt, which will eventually destroy our currency and collapse the worldwide economic system, which depends on ever increasing debt.

    It is my position that inflation occurred in the past when money which cannot be repaid was loaned out of thin air into existence. Now we get to choose the form of the destructor (Ghost Busters)

    June 12, 2011 at 11:34 AM #703547
    GH
    Participant

    [quote=CA renter]the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is.[/quote]

    I tend to agree on deflation at least in the short term. I disagree that deflation is preferable to inflation, since this assumes that the cash you hold becomes more valuable each day, but that cash is only good if everyone agrees it is good.

    I believe and easy math proves that without massive wage inflation to make up for the huge leveraging which has occurred in the last 25 years, virtually ALL debt currently held will default.

    As the debt defaults, those defaulting are effectively taken out of the financial system and those defaulted on are effectively also placed in a position of default and then taken out of the financial system in a very destructive manner.

    With each default, things go from worse to even worse and I believe we are already circling a black hole of debt, which will eventually destroy our currency and collapse the worldwide economic system, which depends on ever increasing debt.

    It is my position that inflation occurred in the past when money which cannot be repaid was loaned out of thin air into existence. Now we get to choose the form of the destructor (Ghost Busters)

    June 12, 2011 at 11:34 AM #703907
    GH
    Participant

    [quote=CA renter]the future is (most likely, IMHO) deflation. Our money is almost all in cash right now, so am putting my money where my mouth is.[/quote]

    I tend to agree on deflation at least in the short term. I disagree that deflation is preferable to inflation, since this assumes that the cash you hold becomes more valuable each day, but that cash is only good if everyone agrees it is good.

    I believe and easy math proves that without massive wage inflation to make up for the huge leveraging which has occurred in the last 25 years, virtually ALL debt currently held will default.

    As the debt defaults, those defaulting are effectively taken out of the financial system and those defaulted on are effectively also placed in a position of default and then taken out of the financial system in a very destructive manner.

    With each default, things go from worse to even worse and I believe we are already circling a black hole of debt, which will eventually destroy our currency and collapse the worldwide economic system, which depends on ever increasing debt.

    It is my position that inflation occurred in the past when money which cannot be repaid was loaned out of thin air into existence. Now we get to choose the form of the destructor (Ghost Busters)

    June 12, 2011 at 11:57 AM #702715
    scaredyclassic
    Participant

    i recommend the greek restaurant on winchester and murrieta hot springs near albertsons. interestingly, they just jacked up prices significantly. i spoke witht he owner (really friendly guy) and he was complaining about the price of lamb at costco. unbelievable, he said.

    not sure what it means, but it’s still worth eating there…

    June 12, 2011 at 11:57 AM #702814
    scaredyclassic
    Participant

    i recommend the greek restaurant on winchester and murrieta hot springs near albertsons. interestingly, they just jacked up prices significantly. i spoke witht he owner (really friendly guy) and he was complaining about the price of lamb at costco. unbelievable, he said.

    not sure what it means, but it’s still worth eating there…

    June 12, 2011 at 11:57 AM #703405
    scaredyclassic
    Participant

    i recommend the greek restaurant on winchester and murrieta hot springs near albertsons. interestingly, they just jacked up prices significantly. i spoke witht he owner (really friendly guy) and he was complaining about the price of lamb at costco. unbelievable, he said.

    not sure what it means, but it’s still worth eating there…

    June 12, 2011 at 11:57 AM #703552
    scaredyclassic
    Participant

    i recommend the greek restaurant on winchester and murrieta hot springs near albertsons. interestingly, they just jacked up prices significantly. i spoke witht he owner (really friendly guy) and he was complaining about the price of lamb at costco. unbelievable, he said.

    not sure what it means, but it’s still worth eating there…

    June 12, 2011 at 11:57 AM #703912
    scaredyclassic
    Participant

    i recommend the greek restaurant on winchester and murrieta hot springs near albertsons. interestingly, they just jacked up prices significantly. i spoke witht he owner (really friendly guy) and he was complaining about the price of lamb at costco. unbelievable, he said.

    not sure what it means, but it’s still worth eating there…

    June 14, 2011 at 4:54 PM #703406
    Veritas
    Participant

    Anyone want to buy some mountains in Austria?
    “While its new European banker overlords are pushing Greece to sell off, pardon, ‘privatize’ the bulk of its most monetizable assets, Austria has already seen the writing on the wall, and in a very proactive step, is offering to sell two mountain peaks in the Austrian Alps.”
    http://www.zerohedge.com/article/greece-prepares-auction-acropolis-austria-selling-its-mountains

    June 14, 2011 at 4:54 PM #703501
    Veritas
    Participant

    Anyone want to buy some mountains in Austria?
    “While its new European banker overlords are pushing Greece to sell off, pardon, ‘privatize’ the bulk of its most monetizable assets, Austria has already seen the writing on the wall, and in a very proactive step, is offering to sell two mountain peaks in the Austrian Alps.”
    http://www.zerohedge.com/article/greece-prepares-auction-acropolis-austria-selling-its-mountains

    June 14, 2011 at 4:54 PM #704093
    Veritas
    Participant

    Anyone want to buy some mountains in Austria?
    “While its new European banker overlords are pushing Greece to sell off, pardon, ‘privatize’ the bulk of its most monetizable assets, Austria has already seen the writing on the wall, and in a very proactive step, is offering to sell two mountain peaks in the Austrian Alps.”
    http://www.zerohedge.com/article/greece-prepares-auction-acropolis-austria-selling-its-mountains

    June 14, 2011 at 4:54 PM #704241
    Veritas
    Participant

    Anyone want to buy some mountains in Austria?
    “While its new European banker overlords are pushing Greece to sell off, pardon, ‘privatize’ the bulk of its most monetizable assets, Austria has already seen the writing on the wall, and in a very proactive step, is offering to sell two mountain peaks in the Austrian Alps.”
    http://www.zerohedge.com/article/greece-prepares-auction-acropolis-austria-selling-its-mountains

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