When the boomers lose their pensions. That's when it will get violent.

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Quote from piezoe:

Gold is in a speculative bubble driven by economic uncertainties. No particular economic uncertainty need be assumed. (There are quite a few currently)

Now might be a good time to consider selling your gold! It is always better to sell high rather than low. :D
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the price of gold is not acting as if it is in a bubble. the fact that it is up substantially is not in of itself a sign of a bubble. it moves up in an orderly manner and not a hyperbolic manner. I suggest u acquaint yourself with signs of bubbles.

in any case even if we are in a bubble as long as u follow soro's advice which is get in at the beginning of bubble i.e. gold you dive in not get out as you suggest.
 
If mankind was to do what is right, we would back up 40% of M1 with gold. We did it in the past, it is not some crazy idea. That would put the fair price at about $2500/oz.

That would still leave the fed with plenty of leeway to try and stabalize any run on any bank which is all they were ever supposed to do.

otherwise, what is it with you Englishmen and your pensions? This is the United States of America, we don't have pensions, other than a perk, we take care of ourselves, that's why we beat the crap out of you in 1776 and 1812 and can do it again anytime you just piss us off a little.

Now go back to your garden club, we have a World to Run.
 
The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.

Treasury started suspending reinvestments in a federal pension fund known as the G-Fund in order to avoid hitting the country's $15.194 trillion debt limit.

"I will be unable to invest fully" the federal employees retirement system fund, beginning Tuesday, Treasury Secretary Timothy Geithner told Democratic and Republican leaders in Congress.

The House of Representatives is expected to vote Wednesday on the Obama administration's request to increase the debt limit by $1.2 trillion.

http://www.reuters.com/article/2012/01/17/us-usa-debt-treasury-idUSTRE80G20R20120117
 
Quote from Zr1Trader:

The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.

Treasury started suspending reinvestments in a federal pension fund known as the G-Fund in order to avoid hitting the country's $15.194 trillion debt limit.

"I will be unable to invest fully" the federal employees retirement system fund, beginning Tuesday, Treasury Secretary Timothy Geithner told Democratic and Republican leaders in Congress.

The House of Representatives is expected to vote Wednesday on the Obama administration's request to increase the debt limit by $1.2 trillion.

http://www.reuters.com/article/2012/01/17/us-usa-debt-treasury-idUSTRE80G20R20120117
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what the heck is he planning on investing it in? Treasuries with a negative yield?

Didn't he get the message from the Fed? Nobody is buying bonds anymore.

How bout, "If we don't raise the debt limit again, all federal employees will be forced into 401k's like the commoners."
 
I'm beginning to view the US as having a lot of third worldish characteristics. The food quality is bad, the education is bad, the unemployment is bad, industries pollute, crime is pretty bad especially in or near the inner-third-worldish-ghettos, big pharma wants to take away health freedoms, government and industry work hand in hand to leave the people out of the loop... inflation is bad, unelected govt officials have the power to detain indefinitely, a newborn owes $500,000 in debts and unfunded liabilities.. where to move to is the real question since reforming it all is hopeless.

The latter stages of decline of a culture brings the scenario where women and children are in charge because the legal system has sidelined men. I can't grab a gangbanger and kick him senseless for walking through my neighborhood, right?? I'm sidelined.. and who wants to stick up for these overbearing, uncooplerative, demanding biatches anyhow?

The future is about a lot of people fighting over the dwindling resources the Public Sector has promised. My guess is that old people get shoved aside to die. They don't riot and burn cities, they don't have a union, right?
 
Quote from syswizard:

Baloney. I've been in the throes of capitalism as an independent contractor past 20 years. I should be retiring. Instead, I'm working harder than ever just to pay all of the highly paid professionals...doctors, lawyers, pharmacists, dentists. In many cases I've got to work a whole day to pay for just an HOUR of their time.

A friend of mine worked for the government for 30 years. Just retired....huge benefits, and retirement compensation. He's set for the rest of his life.

How could this happen ? One word: socialism.
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Socialism isn't about spending money you don't have, it's about redistribution. The right word here is (perverted) keynesianism, not socialism. You spend debt money in recesions, and in booms. Since 1980.
 
Quote from denner:

The problem with your analysis is that you are assuming this "economic uncertainty" will be resolved or HAS been resolved. Nothing could be further from the truth.
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That's it exactly. I am assuming what has happened repeatedly will repeat once more. That is, there will be inflation, the size of government will slowly grow and there will be repeating cycles of economic growth and recession. There will be crises, and these will be resolved.

History is suggesting to me that the U.S. economy will improve over the next 10 to 15 years. Could be wrong though. There is a finite probability it could get worse. I've always been stuck with having to use history to guess at the future. You seem very certain about the future. Can you tell us how your able to predict the future with such certainty? Or is it a secret?

Do you recall all those "this is it, we're doomed threads" 3 to 4 years ago? You know, those threads where the OP was convinced we were headed for a disastrous deflation? I remember them. I also remember all those hyperinflation threads. Well we have close to double digit inflation right now, but it isn't hyperinflation, not yet anyway. I had no choice but to fall back on history. I said we would have, going forward in the next couple years, pretty bad inflation, double digit, but no hyperinflation, and no deflation. So far history has been very helpful in guessing the near future, and the guesses have been right. I wouldn't want to use history to try and guess fifty years down the pike though --or even thirty. :D
 
Quote from Fractals 'R Us:

I'm beginning to view the US as having a lot of third worldish characteristics. The food quality is bad, the education is bad, the unemployment is bad, industries pollute, crime is pretty bad especially in or near the inner-third-worldish-ghettos, big pharma wants to take away health freedoms, government and industry work hand in hand to leave the people out of the loop... inflation is bad, unelected govt officials have the power to detain indefinitely, a newborn owes $500,000 in debts and unfunded liabilities.. where to move to is the real question since reforming it all is hopeless.

The latter stages of decline of a culture brings the scenario where women and children are in charge because the legal system has sidelined men. I can't grab a gangbanger and kick him senseless for walking through my neighborhood, right?? I'm sidelined.. and who wants to stick up for these overbearing, uncooplerative, demanding biatches anyhow?

The future is about a lot of people fighting over the dwindling resources the Public Sector has promised. My guess is that old people get shoved aside to die. They don't riot and burn cities, they don't have a union, right?
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I don't know what kind of third world countries you have been to, but as far as food quality goes, the only last place on earth to still find it is in the third world.
 
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