The impending economic depression.

realitykeeper

The impending economic depression will dwarf the crash of 1929. It will be sudden rather like the credit crunch which followed the collapse of Lehman Brothers and it is inevitable.

The reason it will be systemic and worse than the crash of 1929 is because it involves Central Banks in the first world economies. The impact will be felt globally in second and third world economies albeit to a lesser extent. This will happen probably within three years but it could happen much sooner.

So what should people do? People will need to be self sufficient in terms of energy and food. This means buying land, hoarding food, investing in solar panels and saving rain water. If you have cash left over buy a few gold coins and keep them in a safe place. Learn practical skills. Withdraw all your money from the banks - otherwise you will loose it if/when the banks are bailed in. Don`t buy equities, buy tangible assets in countries where old fashioned capitalism is adhered to.

... and my question is who (if anyone) agrees with all this?

sin_city

Hi realitykeeper

You’re going to get shot down for the way you’ve written the above. I do agree that some of what you say is possible but it is not definite.

I am planning for a collapse somewhat.

Yes, you should buy gold or silver…Maybe put 10% of what you have in this. Insurance is never a bad idea but keep some cash also (though keep it outside of the banks). If it can happen in Cyprus, it can happen anywhere.

I would say to remember to apply the same criticism that has led to your beliefs to the people that are saying a collapse is coming right now. There are some nuts jumping on the bandwagon as doomsday stuff is big business. If someone has a theory they should have backup for this theory.

Maybe get some money into shares of companies involved in food, mining, energy and avoid financials.
I’d have a look at Bitcoin also. Maybe try to put a small amount into this.

Some of the things that people advise on for food such as growing your own food I would look at as more of a hobby to be honest.

Also read some economics. FA Hayek’s Road to Serfdom is long but very good.

quad_red

realitykeeper wrote: »

The impending economic depression will dwarf the crash of 1929. It will be sudden rather like the credit crunch which followed the collapse of Lehman Brothers and it is inevitable.

The reason it will be systemic and worse than the crash of 1929 is because it involves Central Banks in the first world economies. The impact will be felt globally in second and third world economies albeit to a lesser extent. This will happen probably within three years but it could happen much sooner.

Hi OP

What are you basing this on?

Quad

Godge

realitykeeper wrote: »

The impending economic depression will dwarf the crash of 1929. It will be sudden rather like the credit crunch which followed the collapse of Lehman Brothers and it is inevitable.

The reason it will be systemic and worse than the crash of 1929 is because it involves Central Banks in the first world economies. The impact will be felt globally in second and third world economies albeit to a lesser extent. This will happen probably within three years but it could happen much sooner.

So what should people do? People will need to be self sufficient in terms of energy and food. This means buying land, hoarding food, investing in solar panels and saving rain water. If you have cash left over buy a few gold coins and keep them in a safe place. Learn practical skills. Withdraw all your money from the banks - otherwise you will loose it if/when the banks are bailed in. Don`t buy equities, buy tangible assets in countries where old fashioned capitalism is adhered to.

... and my question is who (if anyone) agrees with all this?

Apart from the following sentence, there is nothing in your post that contains any semblance of explanation, logical reasoning, theoretical foundations or reference to current events that would justify the conclusion.

"The reason it will be systemic and worse than the crash of 1929 is because it involves Central Banks in the first world economies"

And that sentence only says very little. In order for us to agree with you, it might be helpful if you actually explained how you see the "impending economic depression" actually happening (without using a circular argument).

sin_city

@realitykeeper

I know what you are talking about but I told ya so about getting shot down.

@Everyone else...He's referrring to what people like Mike Maloney and Ron Paul predicted regarding the 08 crash and what they are predicting for the next one.

More to it than that but you can research it yourself...Mike Maloney has some great historical data to prove his point and he was right about the housing crash, the deflation of credit money and the central banks turning to money printing....so his case for the future crash is quite strong.

Godge

sin_city wrote: »

@Everyone else...He's referrring to what people like Mike Maloney and Ron Paul predicted regarding the 08 crash and what they are predicting for the next one.

More to it than that but you can research it yourself...Mike Maloney has some great historical data to prove his point and he was right about the housing crash, the deflation of credit money and the central banks turning to money printing....so his case for the future crash is quite strong.

Sorry, if he wants debate, he should have done the research and provided some links. Coming along like Chicken Little and telling us the world is about to fall in doesn't really carry any substantive weight.

Scofflaw

Godge wrote: »

Sorry, if he wants debate, he should have done the research and provided some links. Coming along like Chicken Little and telling us the world is about to fall in doesn't really carry any substantive weight.

Yep - as such, preliminary warning of thread closure if no attempt is made to provide something to debate.

And before people get their tin foil hats on and start muttering about how the sheeple don't want to be told the truth, bear in mind that that's in fact exactly what I'm asking for.

moderately,
Scofflaw

Icepick

All those precautions are pointless if this happens globally.
So if you actually believe this, borrow as much as you can and enjoy it while it lasts.

jmayo

Icepick wrote: »

All those precautions are pointless if this happens globally.
So if you actually believe this, borrow as much as you can and enjoy it while it lasts.

And try and borrow it from the likes of AIB (I know they don't really have a pot to p**s in or lend, but we can dream for the purposes of this argument) and then even if the whole kit and caboodle doesn't come crashing down, they sometimes don't bother chasing people for debts and even offer them write offs.

If you are serious about believing in the meltdown of society then you can for a start sign up for a two day preppers course with Survivalist Ireland.

Only thing that could pose an issue here is we don't have the handy access to firearms that are available to preppers in the likes of the US.

realitykeeper

Scofflaw wrote: »

Yep - as such, preliminary warning of thread closure if no attempt is made to provide something to debate.

And before people get their tin foil hats on and start muttering about how the sheeple don't want to be told the truth, bear in mind that that's in fact exactly what I'm asking for.

moderately,
Scofflaw

The thread was intended to establish the proportion of respondents who believe in the likelihood of an impending economic depression. Preliminary evidence to support that belief might have undermined the threads primary purpose. Now that purpose has been fulfilled so evidence can be proffered. Here are is a link to an article by Paul B Farrell entitled: Crash of 2014. Like 1929 you`ll never hear it coming.
http://www.marketwatch.com/story/crash-of-2014-like-1929-youll-never-hear-it-coming-2014-02-19

There are a plethora of supporting arguments as any rudimentary Google search will attest to but the aforementioned does at least corroborate what I mentioned about the crash being sudden.

Peter Schiff, Harry Dent and Gerald Celente are also excellent economists who have their differences but they all agree on an impending crash. For balance I will also mention a Nobel Prize winning economist who I definitely do not agree with i.e. Paul Krugman.

My own view is based on a visceral belief that the sins of the naughties (and the present) have to be paid for. Our salaries are ridiculous. People in the third world work and study harder on a dollar day. Our lifestyles are maintained by Quantitative easing and the like. As much as I respect anyones right to disagree with me, I do not believe the status quo can be sustained.

Bertie Ahern recently expressed the view that economic doomsday forecasters are wrong most of the time. If that argument were applied to road safety, nobody would ever wear a seat belt.

sin_city

Scofflaw wrote: »

Yep - as such, preliminary warning of thread closure if no attempt is made to provide something to debate.

And before people get their tin foil hats on and start muttering about how the sheeple don't want to be told the truth, bear in mind that that's in fact exactly what I'm asking for.

moderately,
Scofflaw

If you are going to send a warning and then delete my post I also expect an apology for your above comment regarding tin foil hats.

Scofflaw

realitykeeper wrote: »

The thread was intended to establish the proportion of respondents who believe in the likelihood of an impending economic depression. Preliminary evidence to support that belief might have undermined the threads primary purpose. Now that purpose has been fulfilled so evidence can be proffered. Here are is a link to an article by Paul B Farrell entitled: Crash of 2014. Like 1929 you`ll never hear it coming.
http://www.marketwatch.com/story/crash-of-2014-like-1929-youll-never-hear-it-coming-2014-02-19

There are a plethora of supporting arguments as any rudimentary Google search will attest to but the aforementioned does at least corroborate what I mentioned about the crash being sudden.

Peter Schiff, Harry Dent and Gerald Celente are also excellent economists who have their differences but they all agree on an impending crash. For balance I will also mention a Nobel Prize winning economist who I definitely do not agree with i.e. Paul Krugman.

My own view is based on a visceral belief that the sins of the naughties (and the present) have to be paid for. Our salaries are ridiculous. People in the third world work and study harder on a dollar day. Our lifestyles are maintained by Quantitative easing and the like. As much as I respect anyones right to disagree with me, I do not believe the status quo can be sustained.

Bertie Ahern recently expressed the view that economic doomsday forecasters are wrong most of the time. If that argument were applied to road safety, nobody would ever wear a seat belt.

I'm sorry, but that article is basically high-octane hopped-up drivel. He may be right, he may be wrong, but either way he's basically waving his finger in the air and shouting that the sky's falling.

On any given day, 10,000 market analysts sit down and write columns. Pretty much every single one of them has their personal theory of how the market is going to play out, and 9,999 of them at least will get it wrong, because they don't have solid theories or solid data to back them. They have some correlations which they can explain ten different ways depending on their current coke intake.

If you can find a Soros or a Taleb someone like that saying "look out", make a thread. Otherwise, this is just your gut and the gut of those of the 10,000 market analysts currently having the same feeling. You might be right, but the only way of anyone agreeing or disagreeing is with their bowels rather than their brains. And that rather limits discussion to a series of farts.

moderately,
Scofflaw