For Americans, "Your Cost of Living will Quadruple"

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For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Mar 10, 2014 9:09 am


Excerpt:

"It’s no secret that the U.S. government is in serious fiscal trouble. So much so that our Treasury Secretary recently noted that should the debt ceiling fail to be increased, the fall-out would be “catastrophic” and last for generations.

Given that sobering report, consider that everything in America, from food to fuel, is subsidized in one way or another. Those subsidies are being paid with ever-increasing debt. It is inevitable that at some point the world’s reserve currency, the US dollar, will be wiped out. The trigger for such an event is irrelevant. What is relevant, is how average Americans will be affected when that day comes.

In recent months working Americans have seen their health care costs triple. But this is just the beginning. When America’s debt problems come to a head the subsidies will be removed, and that will lead to cost of living increases that will leave those who never saw it coming in a state of confusion and bewilderment with no way out.

Marin Katusa of Casey Research, who has met with business and political leaders in over one hundred countries and is one of the most successful contrarian investment analysts out there, has some thoughts on the matter.

It will be shocking for the average American… if the petro dollar dies and the U.S. loses its reserve currency status in the world there will be no middle class.

The middle class and the low class… wow… what a game changer. Your cost of living will quadruple.

The word is out, but this report comes very late.

pale


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Mar 10, 2014 9:39 am

More scare tactics from the Gloom and Doom crowd!

Still waiting for the bond crisis and the super inflationary cycle!      affraid

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Mar 10, 2014 1:34 pm

There are many sources for this gloomy outlook.

Peter Schiff has been on it:
http://finance.yahoo.com/blogs/daily-ticker/peter-schiff-debt-inflation-crisis-taking-longer-thought-170901661.html

Did you miss first part—where our Treasury Secretary agrees months after Peter Schiff's prediction?


"Our Treasury Secretary recently noted that should the debt ceiling fail to be increased, the fall-out would be “catastrophic” and last for generations."


Just don't be surprised...

Exclamation


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Mar 10, 2014 2:28 pm

The debt ceiling was increased and Peter Schiff is an alarmist. People like that should stuff a sock in it! Rolling Eyes 

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Mar 10, 2014 2:48 pm

Funny I should see an optimistic article on Yahoo about the economy for the rest of the year. "Household wealth increased by $10 trillion in 2013"! That doesn't sound too gloomy to me:

http://finance.yahoo.com/video/thaw-coming-us-economy-heat-174700116.html

By 2016 the economy should be in a good place for Hillary to take over!

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Mar 10, 2014 7:23 pm

News Buzzard wrote:
By 2016 the economy should be in a good place for Hillary to take over!

To be considered a credible Presidential candidate, list her accomplishments.

scratch


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Tue Mar 11, 2014 1:27 pm

The only thing that matters here is the fact that she's leading all of the Republican Blockheads by double digits!     afro

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  WHL on Tue Mar 11, 2014 2:16 pm

He can't list them NH because she doesn't have any.
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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Tue Mar 11, 2014 9:06 pm

News Buzzard wrote:The debt ceiling was increased and Peter Schiff is an alarmist. People like that should stuff a sock in it! Rolling Eyes 

A successful and prophetic alarmist?

A record-breaking stock market is distorting a frightening reality: The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens.

That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business.

"I think we are heading for a worse economic crisis than we had in 2007," Schiff said. "You're going to have a collapse in the dollar...a huge spike in interest rates... and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it."

Schiff says that, despite "phony" signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $17.2 trillion federal debt and the Fed's never ending money printing.

Currently, Yellen and The Fed are buying $65 billion per month of Treasury and mortgage bonds and will increase or decrease this number as they see fit.

According to Schiff, this "exit strategy" is not credible and will unravel.

Eventually interest rates will rise... and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone.

"The crisis is imminent," Schiff said.  "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems."

"We're broke, Schiff added.  "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."

Schiff points out that the market gains experienced recently, with the Dow first topping 17,000 on its way to setting record highs, are giving investors a false sense of security.  

"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said.

"The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."

Should American seniors who've been paying taxes their whole lives bear the price of Washington's folly? See the shocking facts by clicking on the video.

A noted economist, Schiff has been a fierce critic of the Fed and its policies for years. And his warnings have proven to be prophetic.

In August 2006, when the Dow was hitting new highs nearly every day, Schiff said in an interview: "The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States."

Just over a year later, the meltdown that became the Great Recession began, just as Schiff predicted.

He also predicted the subprime mortgage bubble burst, nearly a year before the real estate market fully crashed.


According to polls, the average American is indeed sensing danger. A recent survey found that 61% of Americans believe a catastrophe is looming - yet only 15% feel prepared for such a deeply troubling event.
http://moneymorning.com/ext/schiff/articles/schiff-americans-will-lose-everything-in-coming-market-crash.php?iris=182531

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Sun Apr 13, 2014 8:26 pm

News Buzzard wrote:The debt ceiling was increased and Peter Schiff is an alarmist. People like that should stuff a sock in it! Rolling Eyes 

You'd say that about Warren Buffet?

http://moneymorning.com/ext/articles/bitcoin/buffett-americans-should-fear-paper-money.php?iris=183554



Question


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Apr 14, 2014 7:15 am

So now you take a snippet from Warren Buffet that is put into an advertising campaign for some radical new money?

This is The Forum Of Clowns!

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Apr 14, 2014 8:38 am

News Buzzard wrote:So now you take a snippet from Warren Buffet that is put into an advertising campaign for some radical new money?

The Fed has already admitted that inflation is certain. A snippet is all that's needed for us to know where this country's value is headed. Our economic standing in the world marketplace was dropped from AAA rating by Standard & Poor's.

"On a conference call today with reporters, S&P analysts David Beers and John Chambers said that in their analysis, the “extremely difficult” political discussions in Washington over how to reduce the more than $1 trillion budget deficit carried more weight in their decision than the nation’s outstanding debt. It said the talks weren’t “consistent” with a AAA rating."


With the Fed still pumping billions into the U.S. economy, further ravaging the dollar’s value, Warren Buffet issued a harsh warning to investors:  


Run from paper money.”


The world’s most famous investor delivered his blunt advice in a riveting interview on CNBC, saying investors should fear the dollar because it will be
“worth less and less over time.”

Buffett said, adding that Americans should run from it as fast as they can.


What has Obama done to reduce this nation's debt?

Creating Obamacare is not the way to do this.

No


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Apr 14, 2014 8:53 am

Our credit rating was downgraded because of the Debt crisis of 2011. Remember that? That's when the Republicans tried to extort unreasonable concessions from the President, which eventually resulted in the Budget Control Act and the Sequester. Remember the sequester? That's where the military budget got axed as a result of the above described Republican extortion.

Every economist on the planet, except the right wing nimrods, say that we need inflation of at least 2%, and that stagflation or deflation is worse than inflation.

What has the Republican controlled House of Representatives done about our national debt? We're not doing this with unreasonable cuts alone! If tax increases aren't in the mix, then we stay the course. I don't need to remind you that we have enough wealth in this country to wipe out our debt in a day, so don't cry me a river that we're broke!

I guess you've been brainwashed by the Koch brothers, just like all of the other right wingnuts!!

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Sun Jun 22, 2014 7:05 pm

News Buzzard wrote:
I guess you've been brainwashed by the Koch brothers, just like all of the other right wingnuts!!
Your use of American-Communist Saul Alinsky tactics—aside...

Rising food, water, gas, electricity and just about everything else...


If our paychecks were increasing at the same rate as Inflation, perhaps most families would be able to weather all of this.

Unfortunately, that is not the case at all.

As I wrote about recently, median household income in the U.S. is now about 7 percent lower than it was in the year 2000 after adjusting for Inflation.

And if realistic Inflation numbers were used instead of the government-manipulated ones, it would look a lot worse than that.

Inflation is a hidden tax that all of us pay, and it is systematically eviscerating the middle class.


http://www.zerohedge.com/news/2014-06-20/inflation-only-if-you-look-food-water-gas-electricity-and-everything-else

 Surprised 


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  WHL on Mon Jun 23, 2014 7:21 am

Obama wants to destroy us.
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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Jun 23, 2014 8:46 am

WHL wrote:Obama wants to destroy us.

You're very good at abstract statements with no basis of fact !    No

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Pigeon on Mon Jun 23, 2014 9:03 am

Oh com'on, she's just "fudging" the facts a little bit....it's not really a lie!

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Jun 23, 2014 9:25 am

News Pigeon wrote:Oh com'on, she's just "fudging" the facts a little bit....it's not really a lie!

 Laughing Laughing

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Jun 23, 2014 5:42 pm

WHL wrote:Obama wants to destroy us.

Veterans see Obama's destruction best.

 Sad 


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  WHL on Mon Jun 23, 2014 6:20 pm

They see it health wise, lots of others see it for others reasons, for instance the poor coal miners see it that"s for sure.  Isn't he hell bent on destroying our coal industry??!!
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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Mon Jun 23, 2014 6:32 pm

WHL wrote:They see it health wise, lots of others see it for others reasons, for instance the poor coal miners see it that"s for sure.  Isn't he hell bent on destroying our coal industry??!!

God forbid this country should have clean air! It's not good for business!!!

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Hawk on Mon Jun 23, 2014 9:29 pm

WHL wrote:Obama wants to destroy us.

http://www.reuters.com/article/2014/06/23/us-brazil-polio-idUSKBN0EY29Q20140623

Polio has been found in Brazil...just when Latin-America is shipping thousands of "undocumented" teenaged children to Texas and Arizona!

 No 


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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Tue Jun 24, 2014 8:26 am

The kids are coming from Central America and the protocol for dealing with them was signed by President George W Bush, but I know you will add this one to your list of Obama bashing.  Rolling Eyes 

We should never let the facts get in our way !      Rolling Eyes

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Re: For Americans, "Your Cost of Living will Quadruple"

Post  Outerlimits on Tue Jun 24, 2014 9:23 am

News Buzzard wrote:The kids are coming from Central America and the protocol for dealing with them was signed by President George W Bush, but I know you will add this one to your list of Obama bashing.  Rolling Eyes 

We should never let the facts get in our way !      Rolling Eyes
 
 
Facts????
 
How about this little fact:
 
The number of illegal minors has skyrocketed each year since Obama deferred deportation.  Since 2009 the numbers have been  increasing, once deferred deportation was done, the numbers went even higher.
 
But that wouldn't explain why the numbers have exploded like they have over the past few months...
 
But this sheds a little light on it:
 
 
On January 29th of this year, the federal government posted an advertisement seeking bids for a vendor contract to handle “Unaccompanied Alien Children“.
 
Not just any contract mind you, but a very specific contract – for a very specific number of unaccompanied minors: 65,000.   Shocked
 
 
 https://www.fbo.gov/index?s=opportunity&mode=form&id=c6d7c0050b912fbc917a46d6709d38bd&tab=core&tabmode=list&=s=opportunity&mode=form&id=c6d7c0050b912fbc917a46d6709d38bd&tab=core&tabmode=list&[
 
 
How could they possibly anticipate 65,000 unaccompanied minors would be showing up at the border, when the most ever encountered in a previous year was 5,000 total ?
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Re: For Americans, "Your Cost of Living will Quadruple"

Post  News Buzzard on Tue Jun 24, 2014 9:37 am

The Trafficking Victims Defense Reauthorization Act of 2008 pre-dates Obama:

http://www.vox.com/2014/6/4/5773268/children-migration-central-america-texas-unaccompanied-alien-children-border-crisis

It would be nice if we had a comprehensive immigration reform law in place to deal with all of this, but that idea seems to be dead in the water in the House !

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