petermac33 said...
Can see property prices continuing to drop in value by at least another 50 percent soon.
If the ptb create a deflationary GFC, then it's going to be more severe than an inflationary GFC.
Being a million dollars in debt in an inflationary GFC is actually not that bad. In a deflationary GFC, contracting of the money supply, money is much harder to come by, so paying back the mortgage would become near impossible.
Cash is king in a deflationary period.
And absolutely no debt.
As for silver/gold, have come to the conclusion the markets are rigged [plunge protection team],so while i believe the real value of silver is greater than $30 an ounce,believe they are going to pop this too.
which is not much different to what pm33 said two years ago;
petermac33 said...on 16/062010....
with the Stockmarket crash about to happen [50% to 80% drop], the government then will implement austerity measures.
cutting pensions + wages while increasing tax across the board.
result....an economic crash soon!
get out of debt now!
certainly could not be contrived by the international bankers/elite or could it?
forgot not allowed to mention the 'C' word on this forum again.
perhaps when this stockmarket crash/else starts to unfold in the coming months it might help to wake the people up over those weird chemtrails forming in a deep blue sky.
I should point out that since this amazing prediction, the australian all ordinaries has not done much at all, positive or negative.
A bit of good news and it goes up a few percent, a bit of bad news and it drops a few percent.
pweet, you seem to be in a constant state of expectation of an imminent disaster!
Us mere mortals are still waiting for the disaster you predicted two years ago, and from recollection, a year or two before that as well.
Sooner or later a disaster might strike but that doesn't mean we should spend our whole life in a blind panic, sell everything and hide under the kitchen table, just in case the sky falls in.
It might fall in one day, but that will be far more likely if everyone sells everything and hides it in a sock under the mattress..
AUSTRALIA IS NOT GREASE OR SPAIN OR IRELAND OR FRANCE.
Get out there and do something to make the country great!
If you do nothing now, in ten years time when this is all old news you will still have nothing.
I've lived through more than 4 four recessions, two of them severe. (1973-74 and October 1987) For the most part, during all of them, life went on much as before. People still needed food, cloths, houses, cars,.. fuel, movies,. everything.
About the only ones that really suffered were the mercedes dealers and who gives a toss about that.
Certainly the economy slows down a bit but I'm far from convinced that is a bad thing.
Reads like a chain email!
.
