Home › Forums › Financial Markets/Economics › U.S. TO DEFAULT ON ITS DEBT – SUMMER 2009
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October 17, 2008 at 2:42 PM #289295October 17, 2008 at 2:47 PM #288950
underdose
Participant[quote=kewp]
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.BS +2[/quote]
Yesterday the new CPI data was released. The overall CPI was flat for the month of September, with oil dropping and everything else, particularly food and health care, rising. More acurately, only oil has been falling like a rock, but today OPEC declared a cut in production and oil surged back upward. There has been an “irrationally exuberant” technical pullback in commodities. As Bernanke keeps printing like mad, that “reverse bubble” will have to pop. The deflation expectations are based on what happened in the early 1930’s when we still had the gold standard. It’s a new game now, with no restraint on printing, and much more government debt pre-crash. We need to base our expectations on today’s facts.
October 17, 2008 at 2:47 PM #289259Participant[quote=kewp]
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.BS +2[/quote]
Yesterday the new CPI data was released. The overall CPI was flat for the month of September, with oil dropping and everything else, particularly food and health care, rising. More acurately, only oil has been falling like a rock, but today OPEC declared a cut in production and oil surged back upward. There has been an “irrationally exuberant” technical pullback in commodities. As Bernanke keeps printing like mad, that “reverse bubble” will have to pop. The deflation expectations are based on what happened in the early 1930’s when we still had the gold standard. It’s a new game now, with no restraint on printing, and much more government debt pre-crash. We need to base our expectations on today’s facts.
October 17, 2008 at 2:47 PM #289267Participant[quote=kewp]
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.BS +2[/quote]
Yesterday the new CPI data was released. The overall CPI was flat for the month of September, with oil dropping and everything else, particularly food and health care, rising. More acurately, only oil has been falling like a rock, but today OPEC declared a cut in production and oil surged back upward. There has been an “irrationally exuberant” technical pullback in commodities. As Bernanke keeps printing like mad, that “reverse bubble” will have to pop. The deflation expectations are based on what happened in the early 1930’s when we still had the gold standard. It’s a new game now, with no restraint on printing, and much more government debt pre-crash. We need to base our expectations on today’s facts.
October 17, 2008 at 2:47 PM #289298Participant[quote=kewp]
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.BS +2[/quote]
Yesterday the new CPI data was released. The overall CPI was flat for the month of September, with oil dropping and everything else, particularly food and health care, rising. More acurately, only oil has been falling like a rock, but today OPEC declared a cut in production and oil surged back upward. There has been an “irrationally exuberant” technical pullback in commodities. As Bernanke keeps printing like mad, that “reverse bubble” will have to pop. The deflation expectations are based on what happened in the early 1930’s when we still had the gold standard. It’s a new game now, with no restraint on printing, and much more government debt pre-crash. We need to base our expectations on today’s facts.
October 17, 2008 at 2:47 PM #289300Participant[quote=kewp]
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.BS +2[/quote]
Yesterday the new CPI data was released. The overall CPI was flat for the month of September, with oil dropping and everything else, particularly food and health care, rising. More acurately, only oil has been falling like a rock, but today OPEC declared a cut in production and oil surged back upward. There has been an “irrationally exuberant” technical pullback in commodities. As Bernanke keeps printing like mad, that “reverse bubble” will have to pop. The deflation expectations are based on what happened in the early 1930’s when we still had the gold standard. It’s a new game now, with no restraint on printing, and much more government debt pre-crash. We need to base our expectations on today’s facts.
October 17, 2008 at 2:52 PM #288955partypup
Participant“The United States, as well as the United Kingdom, will keep experiencing a significant increase in prices, fed by the rapid growth in money supply and the creation from scratch of large amounts of money.
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.
BS +2”Everything is collapsing in price? Do you spend much time at the grocery store? Has your cable bill deflated? How about your gym membership? Most every day household items and services are actually going UP in price. And if you check John Williams’ shadowstats.com, you’ll note the trend is arguably towards severe inflation, if not hyperinflation: http://www.shadowstats.com/article/292
As for oil, we all know that since it is a commodity that is priced in dollars it necessarily moves inversely to the currency. Right now the dollar index is a hair over 82. 5 months ago it was 72. Do you really think the dollar has gotten STRONGER as Wall Street has failed en masse and a $700 billion bailout has surged to $2.5 trillion? No. The dollar has strengthened only because there has been a flight to treasuries as investors are dumping stocks. The dollar surges, oil falls. Magic!
Housing is collapsing because there is no demand and it was severely over-priced. Goods that weren’t over-priced (like food) are going up in price and will continue to do so.
I suppose you also believe that gold is *really* $787/oz and silver is $9.35/oz? Try buying some on eBay or from a dealer. Then you’ll really get a taste of where prices are headed. Don’t be fooled by a manipulated market, Kewp.
Lastly, is it your position that the U.S. will not default on its debt and declare bankruptcy next year? I intend to re-visit this thread next summer.
October 17, 2008 at 2:52 PM #289264Participant“The United States, as well as the United Kingdom, will keep experiencing a significant increase in prices, fed by the rapid growth in money supply and the creation from scratch of large amounts of money.
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.
BS +2”Everything is collapsing in price? Do you spend much time at the grocery store? Has your cable bill deflated? How about your gym membership? Most every day household items and services are actually going UP in price. And if you check John Williams’ shadowstats.com, you’ll note the trend is arguably towards severe inflation, if not hyperinflation: http://www.shadowstats.com/article/292
As for oil, we all know that since it is a commodity that is priced in dollars it necessarily moves inversely to the currency. Right now the dollar index is a hair over 82. 5 months ago it was 72. Do you really think the dollar has gotten STRONGER as Wall Street has failed en masse and a $700 billion bailout has surged to $2.5 trillion? No. The dollar has strengthened only because there has been a flight to treasuries as investors are dumping stocks. The dollar surges, oil falls. Magic!
Housing is collapsing because there is no demand and it was severely over-priced. Goods that weren’t over-priced (like food) are going up in price and will continue to do so.
I suppose you also believe that gold is *really* $787/oz and silver is $9.35/oz? Try buying some on eBay or from a dealer. Then you’ll really get a taste of where prices are headed. Don’t be fooled by a manipulated market, Kewp.
Lastly, is it your position that the U.S. will not default on its debt and declare bankruptcy next year? I intend to re-visit this thread next summer.
October 17, 2008 at 2:52 PM #289272Participant“The United States, as well as the United Kingdom, will keep experiencing a significant increase in prices, fed by the rapid growth in money supply and the creation from scratch of large amounts of money.
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.
BS +2”Everything is collapsing in price? Do you spend much time at the grocery store? Has your cable bill deflated? How about your gym membership? Most every day household items and services are actually going UP in price. And if you check John Williams’ shadowstats.com, you’ll note the trend is arguably towards severe inflation, if not hyperinflation: http://www.shadowstats.com/article/292
As for oil, we all know that since it is a commodity that is priced in dollars it necessarily moves inversely to the currency. Right now the dollar index is a hair over 82. 5 months ago it was 72. Do you really think the dollar has gotten STRONGER as Wall Street has failed en masse and a $700 billion bailout has surged to $2.5 trillion? No. The dollar has strengthened only because there has been a flight to treasuries as investors are dumping stocks. The dollar surges, oil falls. Magic!
Housing is collapsing because there is no demand and it was severely over-priced. Goods that weren’t over-priced (like food) are going up in price and will continue to do so.
I suppose you also believe that gold is *really* $787/oz and silver is $9.35/oz? Try buying some on eBay or from a dealer. Then you’ll really get a taste of where prices are headed. Don’t be fooled by a manipulated market, Kewp.
Lastly, is it your position that the U.S. will not default on its debt and declare bankruptcy next year? I intend to re-visit this thread next summer.
October 17, 2008 at 2:52 PM #289303Participant“The United States, as well as the United Kingdom, will keep experiencing a significant increase in prices, fed by the rapid growth in money supply and the creation from scratch of large amounts of money.
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.
BS +2”Everything is collapsing in price? Do you spend much time at the grocery store? Has your cable bill deflated? How about your gym membership? Most every day household items and services are actually going UP in price. And if you check John Williams’ shadowstats.com, you’ll note the trend is arguably towards severe inflation, if not hyperinflation: http://www.shadowstats.com/article/292
As for oil, we all know that since it is a commodity that is priced in dollars it necessarily moves inversely to the currency. Right now the dollar index is a hair over 82. 5 months ago it was 72. Do you really think the dollar has gotten STRONGER as Wall Street has failed en masse and a $700 billion bailout has surged to $2.5 trillion? No. The dollar has strengthened only because there has been a flight to treasuries as investors are dumping stocks. The dollar surges, oil falls. Magic!
Housing is collapsing because there is no demand and it was severely over-priced. Goods that weren’t over-priced (like food) are going up in price and will continue to do so.
I suppose you also believe that gold is *really* $787/oz and silver is $9.35/oz? Try buying some on eBay or from a dealer. Then you’ll really get a taste of where prices are headed. Don’t be fooled by a manipulated market, Kewp.
Lastly, is it your position that the U.S. will not default on its debt and declare bankruptcy next year? I intend to re-visit this thread next summer.
October 17, 2008 at 2:52 PM #289305Participant“The United States, as well as the United Kingdom, will keep experiencing a significant increase in prices, fed by the rapid growth in money supply and the creation from scratch of large amounts of money.
Everything is collapsing in price; from housing to soybeans. Even oil is dropping like a rock.
BS +2”Everything is collapsing in price? Do you spend much time at the grocery store? Has your cable bill deflated? How about your gym membership? Most every day household items and services are actually going UP in price. And if you check John Williams’ shadowstats.com, you’ll note the trend is arguably towards severe inflation, if not hyperinflation: http://www.shadowstats.com/article/292
As for oil, we all know that since it is a commodity that is priced in dollars it necessarily moves inversely to the currency. Right now the dollar index is a hair over 82. 5 months ago it was 72. Do you really think the dollar has gotten STRONGER as Wall Street has failed en masse and a $700 billion bailout has surged to $2.5 trillion? No. The dollar has strengthened only because there has been a flight to treasuries as investors are dumping stocks. The dollar surges, oil falls. Magic!
Housing is collapsing because there is no demand and it was severely over-priced. Goods that weren’t over-priced (like food) are going up in price and will continue to do so.
I suppose you also believe that gold is *really* $787/oz and silver is $9.35/oz? Try buying some on eBay or from a dealer. Then you’ll really get a taste of where prices are headed. Don’t be fooled by a manipulated market, Kewp.
Lastly, is it your position that the U.S. will not default on its debt and declare bankruptcy next year? I intend to re-visit this thread next summer.
October 17, 2008 at 2:57 PM #288965ibjames
ParticipantWhat I don’t understand is, if Europe is bailing themselves out too, and we are bailing ourselves out, how it works in the end.. everyone’s even?
October 17, 2008 at 2:57 PM #289274ParticipantWhat I don’t understand is, if Europe is bailing themselves out too, and we are bailing ourselves out, how it works in the end.. everyone’s even?
October 17, 2008 at 2:57 PM #289282ParticipantWhat I don’t understand is, if Europe is bailing themselves out too, and we are bailing ourselves out, how it works in the end.. everyone’s even?
October 17, 2008 at 2:57 PM #289313ParticipantWhat I don’t understand is, if Europe is bailing themselves out too, and we are bailing ourselves out, how it works in the end.. everyone’s even?
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