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Replies (7)
- Terri Linnell, "DebtsNMesses"
- Contributions:6728
I also talked with a 92 yr old man and he says we haven't even seen the worst yet. He said until home prices are again affordable, it won't be over. That our social programs such as unemployment and welfare have substantially covered up the real numbers and real pain.
Lastly, I was told that over 50% of the children in the area are recieving free bus passes... 50%??!! Mind boggling.
I have long since felt 2011 will be a bad year, and PRAYED our govt can hold it off until 2012 and a new election, since I firmly believe if we had a govt that was truely represented BY the people we COULD easily fix things.
My greatest concern has been family. With the family unit much more divided due to divorce than in the Great Depression, AND the impact of dual income families, could we actually see higher REAL unemployment rates than before?
My faith still lies with the people of our country... and these entitled children who are going to go through the toughest lesson of all I firmly expect to make us proud.
Do YOU have any info or insight to share? I'd really like to hear it.
Thanks, Terri
Lastly, I was told that over 50% of the children in the area are recieving free bus passes... 50%??!! Mind boggling.
I have long since felt 2011 will be a bad year, and PRAYED our govt can hold it off until 2012 and a new election, since I firmly believe if we had a govt that was truely represented BY the people we COULD easily fix things.
My greatest concern has been family. With the family unit much more divided due to divorce than in the Great Depression, AND the impact of dual income families, could we actually see higher REAL unemployment rates than before?
My faith still lies with the people of our country... and these entitled children who are going to go through the toughest lesson of all I firmly expect to make us proud.
Do YOU have any info or insight to share? I'd really like to hear it.
Thanks, Terri
- Dan, "the_country_hick"
- Contributions:4699
If the federal reserve has been honest (no way to verify now) they just devalued the $ by about 20% with this new QE2.
It probably does not really matter as long as the economy royally sucks. What does matter is when the economy starts to recover. THEN when the money gets spent inflation will roar. This is the same scenario that got us the 70's stagflation that no one liked.
It probably does not really matter as long as the economy royally sucks. What does matter is when the economy starts to recover. THEN when the money gets spent inflation will roar. This is the same scenario that got us the 70's stagflation that no one liked.
- Pasadenan
- Contributions:21466
Yes, the dollar has been devalued by 20%, but many countries link their currency to the US currency, and thus the U.S. will still get cheep imported goods at slave rate labor.
Sure some food and clothing will be increasing in cost, but that has been happening slowly over the past 5 years anyway, with "shocks" to the system so that people don't notice the real changes. And much of the food costs increases is still speculation, as it was a couple years ago.
Most stores are still finding that they have to discount goods to get them to move, and many have gone out of business.
Target prices have gone exceedingly high on many food and clothing items. I still think they do this in order to mark them down. There are still many stores that are remaining much more competitive.
The question is can one hedge against the inflation? Some food staples will keep for quite a while, such as rice, dried beans, and canned foods. But for the most part, one can't reasonably stock long term food items. Clothes can be stored a bit more efficiently, but then one is concerned about moths, style changes, and knowing what sizes will be needed.
Buying electronics doesn't help as they become obsolete too quickly and mass production continues to bring the prices down.
I don't know anyone that has found a good solution to these issues yet.
Of course housing prices still have to come down quite a bit, so Real Estate is presently not a place to hedge against inflation.
It still appears to me that the best hedges are still the medical industry.
Possibly also overseas real-estate with the low cost of money due to the US quantitative easing, as long as the foreign currencies are pegged to the U.S. dollar and don't float independently.
Sure some food and clothing will be increasing in cost, but that has been happening slowly over the past 5 years anyway, with "shocks" to the system so that people don't notice the real changes. And much of the food costs increases is still speculation, as it was a couple years ago.
Most stores are still finding that they have to discount goods to get them to move, and many have gone out of business.
Target prices have gone exceedingly high on many food and clothing items. I still think they do this in order to mark them down. There are still many stores that are remaining much more competitive.
The question is can one hedge against the inflation? Some food staples will keep for quite a while, such as rice, dried beans, and canned foods. But for the most part, one can't reasonably stock long term food items. Clothes can be stored a bit more efficiently, but then one is concerned about moths, style changes, and knowing what sizes will be needed.
Buying electronics doesn't help as they become obsolete too quickly and mass production continues to bring the prices down.
I don't know anyone that has found a good solution to these issues yet.
Of course housing prices still have to come down quite a bit, so Real Estate is presently not a place to hedge against inflation.
It still appears to me that the best hedges are still the medical industry.
Possibly also overseas real-estate with the low cost of money due to the US quantitative easing, as long as the foreign currencies are pegged to the U.S. dollar and don't float independently.
- Dan, "the_country_hick"
- Contributions:4699
Pasa, "t many countries link their currency to the US currency, and thus the U.S. will still get cheep imported goods at slave rate labor."
You are making a huge assumption.
What is to stop those countries from decoupling from the dollar so as we fall they do not? That is a likely scenario. Only a fool sees their lifeboat sinking and does not jump out into one that is floating.
If I was coupled to the dollar and saw it tanking I would immediately decouple to save my own hide. What country would not?
If those countries do decouple there goes your cheap imports.
You are making a huge assumption.
What is to stop those countries from decoupling from the dollar so as we fall they do not? That is a likely scenario. Only a fool sees their lifeboat sinking and does not jump out into one that is floating.
If I was coupled to the dollar and saw it tanking I would immediately decouple to save my own hide. What country would not?
If those countries do decouple there goes your cheap imports.
- Pasadenan
- Contributions:21466
So far, China and Hong Kong don't want to decouple. I still think they will need to at some point, but they don't seem to want to for other economic and political reasons presently. Hong Kong Real Estate has substantially benefited from the FED buying treasury bills and lowering interest rates, as that extra cash in the market has made interest rates just as low there as they are here.
- sunnyview
- Contributions:25139
I don't see China decoupling. I think if they did the US would consider putting tariffs on them. As it is, they are buying "free" access to US markets with their US currency purchases.
I worry about the price of staples like cereals, grains, meats etc. I had let my pantry stores get a bit lower usual, but I am adding extra food to the budget to build them back up just in case. The economy feel like it's teetering, but it feels so manipulated it is hard to tell where it will end up or when.
I worry about the price of staples like cereals, grains, meats etc. I had let my pantry stores get a bit lower usual, but I am adding extra food to the budget to build them back up just in case. The economy feel like it's teetering, but it feels so manipulated it is hard to tell where it will end up or when.
- HomeSand.net, "White Picture"
- Contributions:4396
Is the economy get better or worst in 2011? -> I have no crystal ball.
Is the home prices rise or drop in 2011? -> I have no crystal ball.
Is my wage get a rising in 2011? -> I have no crystal ball.
Do Terri win in the next election even if she ever run for? -> I have no crystal ball.
Is SunnyView going to get 3 new boyfriends in 2011? I have no crystal ball.
Lets talk about 2011 Economic Predictions!
Ok, I have been hearing through many sources that the cost of goods will dramatically increase very shorty. http://inflation.us/foodp ... ions.html
and http://www.larouchepac.co ... ode/16352 to show a few. Since, as most who know me know, I do not shop on a regular basis, I must rely on others to keep me abreast of price increases. I am hearing in the last few months that the same money results in a 20% decrease in purchasing power.
Now on to homes. I am hearing major banks have withheld foreclosures and that a flood is coming. http://www.walletpop.com/ ... -effects/ and http://www.foxnews.com/po ... ef-warns/
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