Thread: Just a couple of thoughts

Originally Posted by LegalUSCitizen

In laymen's terms what is the best course of action for an American to take at this time?

What exactly will the effect of this be on Canadians and Mexicans?

What is the best course of action for an American to take at this time?

1. Pay off your personal debt as quickly as possible with income, not savings.

2. Save every dollar you can and keep part of it outside of a bank but in a safe place.

What exactly will the effect of this be on Canadians and Mexicans?

Because they are to intertwined with our economy, their economies will suffer the same result as ours.

Originally Posted by Judy

The other countries know more about US than WE do.

That's because they have the EEU in place and have seen all the negitive effects.

Yep.

The article Borrowing to make ends meet should be read by everyone here! We are headed for financial disaster just as the elites want it.

Thanks Judy excellant information.

Asked whether he would characterize the dollar's downside move as signaling a possible collapse, Mr Ritholtz told WND, "Not yet."

Ritholtz pointed out market professionals had long looked at a dollar collapse as a "low probability event," but the recent fall suggests "the probabilities have increased of a major dollar correction, or even of a collapse."

U.S. trade imbalances with China have hit a record $228 billion this year, largely reflecting a surging flow of containers from China with retail goods headed for the U.S. mass market.

from the original posts on this thread

I want to update as of December 22 Jerome Corssi source:
The dollar has been devalued 45% since 2000. There is speculation that they intend to devalue it an additional 30%. The concern is they will not be able to control the devaluation and it will collapse. The housing market is currently 22% down and it is anticipated that is will fall another 30% to 50% depending upon the area it is located. California, Ohio, Indiana, Illinois and the midwest in general will be hit hardest. He stated that he felt millions of people will end up with property valued at less than the balance of their mortgage, loose the property due to no jobs and still owe the difference between the property value and the mortgage debt.

HE also recommended pay off all debt and be prepared for the economy to tank as soon as mid year that by my calendar is June.

With regard to China, it is caught in a rock and a hard place. It holds too many dollars. If it starts selling them off this will speed up the collapse of the economy.

I keep minimal funds in the bank and I have taken what I could afford to and invested in antique gold coins. I trust NO one at this point in time. This government confiscated gold once it can do it again. This government is responsible for the Great Depression which has been admitted.

Antique coins are not legal tender but they damn well could become tender if you have an emergency need such as insulin or some such other critical medication. Gold is valued at the spot price of gold which will sore if this occurs. I know no other way to insure that there is at least some means to provide for needs which one cannot provide personally ie food (garden) water (filter it!) and shelfter (pitch a friggen tent).