ALEX JONES ON GREECE! What Really Happened... United Kingdom Next?

nollag2006

Mr.Brown wrote: »

Hi Nollag, how's the debt plan going? Was reading about it in the DFW. Sounds good.

Oh dear. Sounds like you've finally lost it Mr.B.

Sad to see a bear descend to this.


My leveraged property portfolio is doing quite nicely, actually. Excellent tenants, and portfolio up 10 -15% over the past year. No debt worries to speak of - but thanks for asking, and good luck with hanging on for the next crash. Should be one along any decade now

:T

Mr.Brown_4

nollag2006 wrote: »

My leveraged property portfolio is doing quite nicely, actually. Excellent tenants, and portfolio up 10 -15% over the past year. No debt worries to speak of - but thanks for asking, and good luck with hanging on for the next crash. Should be one along any decade now

OK glad to hear it. There was someone on the Debt board with a similar story and I thought it sounded like a cry for help. I'm here if you need to talk.

kabayiri

Aled Jones , Peter Schiff, .... you may agree or disagree with their views.

But I for one find it interesting to hear these different views.

Where are the equivalent people who speak out in the UK though?

StevieJ

kabayiri wrote: »

Aled Jones , Peter Schiff, .... you may agree or disagree with their views.

But I for one find it interesting to hear these different views.

Where are the equivalent people who speak out in the UK though?

Here they are

Kohoutek

StevieJ wrote: »

Here they are

Peter Schiff isn't a conspiracy theorist, he's a finance professional that follows the Austrian School of Economics. He predicted the US housing bubble:

http://www.youtube.com/watch?v=p7aQXuauR9g

I think I would rather trust his opinion than people who believe in the current (jobless) recovery.

StevieJ

Kohoutek wrote: »

Peter Schiff isn't a conspiracy theorist, he's a finance professional that follows the Austrian School of Economics. He predicted the US housing bubble:

http://www.youtube.com/watch?v=p7aQXuauR9g

I think I would rather trust his opinion than people who believe in the current (jobless) recovery.

How well did he manage his clients funds after those predictions.

Schiff's Overall Thesis

• US Equity Markets Will Crash.
• US Dollar Will Go To Zero (Hyperinflation).
• Decoupling (The rest of the world would be immune to a US slowdown.
• Buy foreign equities and commodities and hold them with no exit strategy.

Schiff was correct about point number 1 above. The US equity markets crashed. That was a very good call. Unfortunately, his investment thesis centered on shorting the dollar in a hyperinflation bet, and buying foreign equities rather than shorting US equities.

Furthermore, Schiff made no allowances for being wrong and had no exit strategy whatsoever.

What happened in 2008 was that foreign equities sold off much harder than US equities, and a strengthening US dollar compounded the situation.

In other words, Schiff failed where it matters most: Peter Schiff did not protect his client's assets. Let's take a look how, and more importantly why, starting with charts of various foreign indicices.

http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html

Kohoutek

Well eventually, currency markets will lose confidence in the dollar and dollar denominated assets like US equities and he'll be proved right.

The US has an effective national debt of about 120% of GDP if you include Fannie Mae/Freddie Mac, which the government explicitly guarantees, and state debt, which it implicitly guarantees. If you add unfunded liabilities to its national debt, you get a figure of $100 trillion, about six times GDP. Under Barack Obama's current budget plans, there are no plans to reduce unfunded liabilities and budget projections as far as 2080 show the US still running a deficit. It's ludicrous to suggest that those debts could be funded - Japan and the UK (1st and 3rd biggest creditors) have debt problems of their own, and China (2nd) has recently become a net seller of Treasuries.

To get onto a sustainable fiscal path, the US would have to increase income tax by 100% or reduce social security by 50%. I can't really see it doing anything approaching that until eventually things get really bad.

michaels

So Fannie & Freddie have no assets (enjoyed writing that in some juvenile way!)

And nor does the US govt either for that matter?

And all those unfunded promises will be met?

And the Chinese will stop using their savings to fund US consumption - how are they going to manage the unrest from 10s of millions unemployed in a totalitarian society?

Kohoutek wrote: »

Well eventually, currency markets will lose confidence in the dollar and dollar denominated assets like US equities and he'll be proved right.

The US has an effective national debt of about 120% of GDP if you include Fannie Mae/Freddie Mac, which the government explicitly guarantees, and state debt, which it implicitly guarantees. If you add unfunded liabilities to its national debt, you get a figure of $100 trillion, about six times GDP. Under Barack Obama's current budget plans, there are no plans to reduce unfunded liabilities and budget projections as far as 2080 show the US still running a deficit. It's ludicrous to suggest that those debts could be funded - Japan and the UK (1st and 3rd biggest creditors) have debt problems of their own, and China (2nd) has recently become a net seller of Treasuries.

To get onto a sustainable fiscal path, the US would have to increase income tax by 100% or reduce social security by 50%. I can't really see it doing anything approaching that until eventually things get really bad.

StevieJ

Kohoutek wrote: »

Well eventually, currency markets will lose confidence in the dollar and dollar denominated assets like US equities and he'll be proved right.

And eventually the sun will burn out and Earth will be no more, oh and house prices will crash as well

purch

In the Internet age the more outlandish and extreme your opinions, the louder you shout in your YouTube videos the more chance people will latch onto you and believe everything you say/write.

Nobody seems to notice how laughably incorrect some of their claims turn out to be.