OT: “Dollar About to take a Direct Hit”

[briansd1]

I think that the con game has been played around the world by all parties, not just America.

So in that regard, we are still strong relative to others.

The Euro is not much better and Japan is even more broke then we are. The Japanese export more but their lunch is being eaten by the Chinese and the Koreans.

China has large foreign reserves by its government is very secretive and government spending is out of control.

Sure, the US Dollar is losing strength but what will replace the Dollar as the reserve currency and the currency of international commerce? Nothing.

At least we have a strong military to back up our currency so we’ll just print more to pay interest on our debts — all denominated in Dollar.

I don’t see the Dollar losing reserve status anytime soon. The decline will be slow, not abrupt. But unless we fix our finances, our kids, when they grow up, will no longer feel rich when they travel overseas (it’s already happened in the last 20 years or so).

[afx114]

When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. 🙂

[afx114]

When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. 🙂

[afx114]

When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. 🙂

[afx114]

When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. 🙂

[afx114]

When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. 🙂

[5yearwaiter]

[quote=partypup][quote=5yearwaiter][quote=scaredycat]whatever result screws me is the one most likely to occur. but seriously, does dollar devaluation send house prices up or down?[/quote]

The key driver for all of this will be unemployment. We all know that *real* unemployment is closer to 20%, which means we are now reaching depression levels. When layoffs begin to seriously skyrocket next year, we can easily see *real* unemployment reach 30%. At that level, the demand for new and existing homes will literally crater.

Add to that the fact that a USD currency crisis will send bond rates MUCH higher (think the 70s on steroids), and mortgage rates will follow. My parents had an 18% rate on their new home in 1978. If we were to get anywhere close to that now (and we all know that this country is in a much worse position fiscally than we were in the 70s), then the demand for homes will go through the floor.

Seriously, all around, it is just a very, very grim situation for housing.

Food and energy, on the other hand, will skyrocket. People need food to keep breathing and moving, they will have a hard time sharing food the way they share homes, it is cheaper than housing, people will be focused more on investments in their survival, not their portfolios, and no down payment or credit check is required to purchase food. Oil, which is currently dollar-denominated but likely not for long, will shoot skyward when the dollar collapses. Oil has been too cheap for too long in the US (anyone who travels to Europe, Africa or Latin America knows the *true* price of oil), and we are about to join the rest of the world in that regard.
[/quote]

When completed this reading … all my face and hads filled with Swett… shevering in fingers while I am typing. That much beautiful life would able to turn to this level. What the heck our rulers and top knotch folks doing all the time just for pusing us more down. Well… it might be better slowly start living in rock age(cave-man)style instead following this tiny hyper image life and get frustrated longer time or forever…..

[5yearwaiter]

[quote=partypup][quote=5yearwaiter][quote=scaredycat]whatever result screws me is the one most likely to occur. but seriously, does dollar devaluation send house prices up or down?[/quote]

The key driver for all of this will be unemployment. We all know that *real* unemployment is closer to 20%, which means we are now reaching depression levels. When layoffs begin to seriously skyrocket next year, we can easily see *real* unemployment reach 30%. At that level, the demand for new and existing homes will literally crater.

Add to that the fact that a USD currency crisis will send bond rates MUCH higher (think the 70s on steroids), and mortgage rates will follow. My parents had an 18% rate on their new home in 1978. If we were to get anywhere close to that now (and we all know that this country is in a much worse position fiscally than we were in the 70s), then the demand for homes will go through the floor.

Seriously, all around, it is just a very, very grim situation for housing.

Food and energy, on the other hand, will skyrocket. People need food to keep breathing and moving, they will have a hard time sharing food the way they share homes, it is cheaper than housing, people will be focused more on investments in their survival, not their portfolios, and no down payment or credit check is required to purchase food. Oil, which is currently dollar-denominated but likely not for long, will shoot skyward when the dollar collapses. Oil has been too cheap for too long in the US (anyone who travels to Europe, Africa or Latin America knows the *true* price of oil), and we are about to join the rest of the world in that regard.
[/quote]

When completed this reading … all my face and hads filled with Swett… shevering in fingers while I am typing. That much beautiful life would able to turn to this level. What the heck our rulers and top knotch folks doing all the time just for pusing us more down. Well… it might be better slowly start living in rock age(cave-man)style instead following this tiny hyper image life and get frustrated longer time or forever…..

[5yearwaiter]

[quote=partypup][quote=5yearwaiter][quote=scaredycat]whatever result screws me is the one most likely to occur. but seriously, does dollar devaluation send house prices up or down?[/quote]

The key driver for all of this will be unemployment. We all know that *real* unemployment is closer to 20%, which means we are now reaching depression levels. When layoffs begin to seriously skyrocket next year, we can easily see *real* unemployment reach 30%. At that level, the demand for new and existing homes will literally crater.

Add to that the fact that a USD currency crisis will send bond rates MUCH higher (think the 70s on steroids), and mortgage rates will follow. My parents had an 18% rate on their new home in 1978. If we were to get anywhere close to that now (and we all know that this country is in a much worse position fiscally than we were in the 70s), then the demand for homes will go through the floor.

Seriously, all around, it is just a very, very grim situation for housing.

Food and energy, on the other hand, will skyrocket. People need food to keep breathing and moving, they will have a hard time sharing food the way they share homes, it is cheaper than housing, people will be focused more on investments in their survival, not their portfolios, and no down payment or credit check is required to purchase food. Oil, which is currently dollar-denominated but likely not for long, will shoot skyward when the dollar collapses. Oil has been too cheap for too long in the US (anyone who travels to Europe, Africa or Latin America knows the *true* price of oil), and we are about to join the rest of the world in that regard.
[/quote]

When completed this reading … all my face and hads filled with Swett… shevering in fingers while I am typing. That much beautiful life would able to turn to this level. What the heck our rulers and top knotch folks doing all the time just for pusing us more down. Well… it might be better slowly start living in rock age(cave-man)style instead following this tiny hyper image life and get frustrated longer time or forever…..

[5yearwaiter]

[quote=partypup][quote=5yearwaiter][quote=scaredycat]whatever result screws me is the one most likely to occur. but seriously, does dollar devaluation send house prices up or down?[/quote]

The key driver for all of this will be unemployment. We all know that *real* unemployment is closer to 20%, which means we are now reaching depression levels. When layoffs begin to seriously skyrocket next year, we can easily see *real* unemployment reach 30%. At that level, the demand for new and existing homes will literally crater.

Add to that the fact that a USD currency crisis will send bond rates MUCH higher (think the 70s on steroids), and mortgage rates will follow. My parents had an 18% rate on their new home in 1978. If we were to get anywhere close to that now (and we all know that this country is in a much worse position fiscally than we were in the 70s), then the demand for homes will go through the floor.

Seriously, all around, it is just a very, very grim situation for housing.

Food and energy, on the other hand, will skyrocket. People need food to keep breathing and moving, they will have a hard time sharing food the way they share homes, it is cheaper than housing, people will be focused more on investments in their survival, not their portfolios, and no down payment or credit check is required to purchase food. Oil, which is currently dollar-denominated but likely not for long, will shoot skyward when the dollar collapses. Oil has been too cheap for too long in the US (anyone who travels to Europe, Africa or Latin America knows the *true* price of oil), and we are about to join the rest of the world in that regard.
[/quote]

When completed this reading … all my face and hads filled with Swett… shevering in fingers while I am typing. That much beautiful life would able to turn to this level. What the heck our rulers and top knotch folks doing all the time just for pusing us more down. Well… it might be better slowly start living in rock age(cave-man)style instead following this tiny hyper image life and get frustrated longer time or forever…..

[5yearwaiter]

[quote=partypup][quote=5yearwaiter][quote=scaredycat]whatever result screws me is the one most likely to occur. but seriously, does dollar devaluation send house prices up or down?[/quote]

The key driver for all of this will be unemployment. We all know that *real* unemployment is closer to 20%, which means we are now reaching depression levels. When layoffs begin to seriously skyrocket next year, we can easily see *real* unemployment reach 30%. At that level, the demand for new and existing homes will literally crater.

Add to that the fact that a USD currency crisis will send bond rates MUCH higher (think the 70s on steroids), and mortgage rates will follow. My parents had an 18% rate on their new home in 1978. If we were to get anywhere close to that now (and we all know that this country is in a much worse position fiscally than we were in the 70s), then the demand for homes will go through the floor.

Seriously, all around, it is just a very, very grim situation for housing.

Food and energy, on the other hand, will skyrocket. People need food to keep breathing and moving, they will have a hard time sharing food the way they share homes, it is cheaper than housing, people will be focused more on investments in their survival, not their portfolios, and no down payment or credit check is required to purchase food. Oil, which is currently dollar-denominated but likely not for long, will shoot skyward when the dollar collapses. Oil has been too cheap for too long in the US (anyone who travels to Europe, Africa or Latin America knows the *true* price of oil), and we are about to join the rest of the world in that regard.
[/quote]

When completed this reading … all my face and hads filled with Swett… shevering in fingers while I am typing. That much beautiful life would able to turn to this level. What the heck our rulers and top knotch folks doing all the time just for pusing us more down. Well… it might be better slowly start living in rock age(cave-man)style instead following this tiny hyper image life and get frustrated longer time or forever…..

[partypup]

[quote=afx114]When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. :)[/quote]

I know you’re trying to be funny, but you’re actually right on target.

Something is going to come crashing into homes, but it won’t be a meteor shower. It will be the fallout from a collapsing dollar.

But I do appreciate your levity in these challenging times, afx114 🙂

[partypup]

[quote=afx114]When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. :)[/quote]

I know you’re trying to be funny, but you’re actually right on target.

Something is going to come crashing into homes, but it won’t be a meteor shower. It will be the fallout from a collapsing dollar.

But I do appreciate your levity in these challenging times, afx114 🙂

[partypup]

[quote=afx114]When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. :)[/quote]

I know you’re trying to be funny, but you’re actually right on target.

Something is going to come crashing into homes, but it won’t be a meteor shower. It will be the fallout from a collapsing dollar.

But I do appreciate your levity in these challenging times, afx114 🙂

[partypup]

[quote=afx114]When you say that housing will “literally crater” do you mean that you are expecting meteor showers to come crashing down on homes, turning them into craters?

literal |ˈlitərəl; ˈlitrəl|
adjective
• taking words in their usual or most basic sense without metaphor or allegory.
• free from exaggeration or distortion.

Sorry, couldn’t resist. :)[/quote]

I know you’re trying to be funny, but you’re actually right on target.

Something is going to come crashing into homes, but it won’t be a meteor shower. It will be the fallout from a collapsing dollar.

But I do appreciate your levity in these challenging times, afx114 🙂

[Author]

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