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They don't invite him on CNBC anymore because Peter schools Kudlow on his pseudo-capitalist Statist tendencies. Although John Browne from the firm is still invited because as Peter puts it: "he's polite and doesn't get in Kudlow's face like I do"
The last prediction before game over is the bond market crashing. When it happens, it's already too late to get out of the dollar.
Other predictions is the double and tripling of airline ticket prices post-consolidation and a sharp rise in the cost of apparel. Americans will learn to sew again.
It didn't take a genius or a crystal ball to see this.
Get your hands on a copy of "Crash Proof: How to profit from the coming economic collapse" and see how accurate he's been
I hope I can get out of the dollar in time. I talked to a broker from Euro Pacific capital today. He said the guy that account conversions from one company to another is out of town for a wedding. The paperwork is on it's way. Time to buy some metals until then.
I don't care what economists say, this is a recession and we've only seen the tip of the iceberg. Best case scenario - a repeat of the '81-82 recession. More likely scenario - repeat of the 1930s Great Depression. Worst case - complete and total economic collapse.
This post I agree with completely. Of course I live in the worst local economy in America. Still it is bad all over.
I also predict a complete and total economic colapse. I dont even know what that is because it has never happened. But mark my words. It is coming. The Great Depression will look like a small blip compared to the economic collapse the United States is about to suffer, many experts agree.
Trillions of dollars in lost home equity.
People living off credit cards just to eat and buy gas.
$5.00 gas just months away.
Food prices twice what they were 3 years ago.
Growing global imbalances in the world economy is pretty hard not to see.
The US dollar is worth less then the paper it is written on.
Record foreclosures everywhere expecially Las Vegas, Miami and So. Cal.
China is buying up our companies all over.
So many many of our jobs going to China.
The remaining jobs are taken by illegal aliens who work for $8/hr.
Raises are something we will read in history books.
Only Unions and Govt jobs still give raises. The very best companies toss a token quarter an hour per year for their best employees.
The ever fattening Federal debt is about a dollar from collapse.
Nearly 1 in 6 Americans rely on some sort of public assistance.
The fallout of these record foreclosures are spawning millions and millions of families with credit so bad that they will not be able to buy another home for 7-10 years. Many landlords will not even except some of these people. If lenders and landlords dont lighten up on minimum credit standards there will be a whole lot of homeless families in the streets in the coming times.
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Just to note that I don't think there are many people (or at least people that should be listened to) that think we will avoid a mild recession. The debate at this point is whether the recession will be mild or something worse.
Also people should get use to the fact that everything over at the fed works on a lag.
This post I agree with completely. Of course I live in the worst local economy in America. Still it is bad all over.
I also predict a complete and total economic colapse. I dont even know what that is because it has never happened. But mark my words. It is coming. The Great Depression will look like a small blip compared to the economic collapse the United States is about to suffer, many experts agree.
Trillions of dollars in lost home equity.
People living off credit cards just to eat and buy gas.
$5.00 gas just months away.
Food prices twice what they were 3 years ago.
Growing global imbalances in the world economy is pretty hard not to see.
The US dollar is worth less then the paper it is written on.
Record foreclosures everywhere expecially Las Vegas, Miami and So. Cal.
China is buying up our companies all over.
So many many of our jobs going to China.
The remaining jobs are taken by illegal aliens who work for $8/hr.
Raises are something we will read in history books.
Only Unions and Govt jobs still give raises. The very best companies toss a token quarter an hour per year for their best employees.
The ever fattening Federal debt is about a dollar from collapse.
Nearly 1 in 6 Americans rely on some sort of public assistance.
The fallout of these record foreclosures are spawning millions and millions of families with credit so bad that they will not be able to buy another home for 7-10 years. Many landlords will not even except some of these people. If lenders and landlords dont lighten up on minimum credit standards there will be a whole lot of homeless families in the streets in the coming times.
[SIZE=4][/SIZE]
You tend to put focus on housing as the worst problem when that is really minute compared to oil prices. This economy can be saved if oil prices were to somehow stabilize even at current prices, but most people are predicting $200 oil and $7 gas by Labor Day. I fully expect to recieve the pink slip by September. If I don't, I will be extremely surprised.
Even at the higher prices in oil this economy can be saved. This isn't the end of the world. It IS the end of people living beyond their means. We will have to tighten our belts and get ready for a HUGE down turn. It sucks, and a lot of people may never regain their former economic position. The economy will have to transform itself which is under way now.
You tend to put focus on housing as the worst problem when that is really minute compared to oil prices. This economy can be saved if oil prices were to somehow stabilize even at current prices, but most people are predicting $200 oil and $7 gas by Labor Day. I fully expect to recieve the pink slip by September. If I don't, I will be extremely surprised.
Yes maybe I am focusing on housing. Since housing directly affects just as many areas in our economy as gas....maybe more. We need a house. We do not need gas....well sorta.
The new numbers show 43,000 jobs were lost. Of that number 36,000 were in construction. That auta tell ya something.
We have lots of doubters. These doubters are sitting on their thousand dollar computers inside their nice comfy air conditioned home with a nice job to go to in the morning. Hardly a care in the world. But always remember that comfy job you all love....you are nothing but a peice of paper and a number to your employer. You could get the same pink slip as this poster feels he may get in Sept.
If gas gets to $7.00/g then you will have millions of minimum wage workers quitting their jobs. At $7.00/g it would cost more to buy the gas to get to work then they can earn at work if they live about 10 miles or more commute. Now what?
Yes maybe I am focusing on housing. Since housing directly affects just as many areas in our economy as gas....maybe more. We need a house. We do not need gas....well sorta.
The new numbers show 43,000 jobs were lost. Of that number 36,000 were in construction. That auta tell ya something.
We have lots of doubters. These doubters are sitting on their thousand dollar computers inside their nice comfy air conditioned home with a nice job to go to in the morning. Hardly a care in the world. But always remember that comfy job you all love....you are nothing but a peice of paper and a number to your employer. You could get the same pink slip as this poster feels he may get in Sept.
If gas gets to $7.00/g then you will have millions of minimum wage workers quitting their jobs. At $7.00/g it would cost more to buy the gas to get to work then they can earn at work if they live about 10 miles or more commute. Now what?
Well the real effects of these gas prices haven't been felt yet, but those of us in vulnerable industries know how it is. The retail sector will be the next to collapse. Look for them to fall like dominioes after the first of 2009 if gas prices keep rising. Look for the malls to become ghost towns. People aren't going to curb their driving until they have cut everything else back as much as possible.
Well the real effects of these gas prices haven't been felt yet, but those of us in vulnerable industries know how it is. The retail sector will be the next to collapse. Look for them to fall like dominioes after the first of 2009 if gas prices keep rising. Look for the malls to become ghost towns. People aren't going to curb their driving until they have cut everything else back as much as possible.
This country has YET to see the prices go up for consumer products and services. In our business we have been paying for a fuel surcharge AND delivery fee for YEARS without passing it on. In the last year or two we have ONLY been charging a steep delivery fee to customers that run out while we are closed and need an emergency delivery. Not now, we are already passing on those fees to our customers that manufacture or sell to the public. Many other people I know are just now doing the same thing in their businesses. Prices are going to go UP as what consumers have seen up until now is nothing.
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