Author Topic: THIS IS IT. COLLAPSE IS HERE.  (Read 26958 times)

blackjack

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THIS IS IT. COLLAPSE IS HERE.
« on: January 19, 2016, 06:01:05 PM »
A friend just emailed this to me; I don't know much about economics or this but it makes me worried about saving so much into my 401k;

can anyone debunk this?
Bill Holter from JS Mineset joins us to cover the unfolding global economic collapse. "This is it. We're watching the meltdown. This is history being made." Bill says.

Holter explains, "The Fed has lied themselves into a corner. They raised rates and here we are a month later, the system is imploding and they have no bullets left. They are going to have to do QE4, they are going to have to do negative interest rates."

"I believe this is it. The margin call, the meltdown, we're watching it in real time... I guess the best way to look at where we are right now is, we're standing at the gates of Hell."
https://www.youtube.com/watch?v=-wvPlOLjcGU

JLee

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #1 on: January 19, 2016, 06:07:32 PM »
Not sure if serious?

former player

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #2 on: January 19, 2016, 06:10:04 PM »
You think the end of the world is going to be announced on youtube?

Retire-Canada

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #3 on: January 19, 2016, 06:10:58 PM »
Sorry OP. You missed the boat. If you bunker isn't full off ammo, guns, gold, chainsaws and MREs by now....well it's gonna be ugly for you.

3okirb

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #4 on: January 19, 2016, 06:20:56 PM »
Despite what the people on TV say, 10% corrections happen on average 1 time per year and 30% drops happen on average every 5 years.  That's to be expected.  Despite that, we get the long term average gain of over 10%.  Now, unfortunately solid financial advice is a little boring and doesn't make good TV, so you get a lot of "infotainment".  Same with medical advice, which is why we get dumbasses like Dr. Oz.

GuitarStv

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #5 on: January 19, 2016, 06:22:55 PM »
Sorry OP. You missed the boat. If you bunker isn't full off ammo, guns, gold, chainsaws and MREs by now....well it's gonna be ugly for you.

This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

Eric

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #6 on: January 19, 2016, 06:26:14 PM »
I don't even have to click the video.  Let me guess:  Buy gold?

Frankies Girl

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #7 on: January 19, 2016, 06:26:31 PM »

nereo

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #8 on: January 19, 2016, 06:26:45 PM »
OP - if you can't tell from the language alone that this is click-bait, doomsday style prophecy than there's little I can do to make you feel better.  Just look at the language: "Melt down.  Global Economic Collapse. Gates of hell.  No bullets left"

Like most ultra-bearish predictions it takes a kernel of truth and then extrapolates it to rediculous proportions.  In this case, the Fed has lowered rates to the point where it has fewer tools (but certainly not zero tools) left in its toolbox.  BUt what that means practically is that it is less able to fight inflation down the road should it spring up. 
The reason that calling this a "global meltdown/gates of hell" moment is a bit extreme is that there's no guarantee incredible inflation will kick in at all.  There was an economy long before there was a fed and most of the time it still did ok.  A few absolutely horrific depressions occurred but no end-of-the-world.

Quote
You think the end of the world is going to be announced on youtube?
Certainly not.  We'll read about it on twitter; #endofworld, #yallencausesapocolypse, #nowmetswillneverwinworldseriesever

okits

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #9 on: January 19, 2016, 06:40:35 PM »
I watched the first nine minutes and that was about all the time I was willing to invest in it.

I'm not expert enough to proffer a counter-theory/prediction, but my general thoughts are this: if things go bad, A) either the developed world's economy will recover, as it always has (and the winners are generally those who did not succumb to panic), or B) it's the end of the world and I'm going to worry less about my portfolio, and more about implementing GuitarStv's plan.

I am risk averse, though, so I will hedge my bets by eating all the good chocolate in the house.   For the things that really matter, you really cannot be too careful. :)

Retire-Canada

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #10 on: January 19, 2016, 07:50:11 PM »
This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

We put the heads of folks that try dumping their gas into our fake ventilation shafts on poles around the bunker. It's cute how they think we didn't plan for that. They look so surprised. ;)
« Last Edit: January 20, 2016, 06:22:21 AM by Retire-Canada »

Mermaid3011

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #11 on: January 19, 2016, 08:03:00 PM »
It's not a complete meltdown.
I am working in Investments at a global insurance company.
Our people are pretty much expecting a bear market and bad economy this year, but a correction in 2017.

Markets go up and they go down.
The Feds raised the interest rate probably a little bit too early. But it is what it is.
The worst you can do now is panic.

I would wait until mid year, see where the market bottoms out and then invest in the same strategies you have been believing in all along.

MoonShadow

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #12 on: January 19, 2016, 08:39:41 PM »
The clickbait link of the OP notswithstanding, the Baltic Dry Index has dropped below 400 for the first time in it's history last week & Walmart announced that they are closing 269 stores (worldwide) before the end of January.  Ouch.  This is no ordinary correction, although there is no telling how deep this fire sale will go before it's time to buy back in.  I have a lot of idle capital I have waiting, and am mostly just waiting to see how close I can guess the bottom.  But if you play this game, one better be nimble & ready to move.  It's easy to get burned during a fire sale.

Debts_of_Despair

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #13 on: January 19, 2016, 08:50:34 PM »
That channel has collapse prediction videos going back several years, even preceding strong bull markets.

Le Poisson

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #14 on: January 19, 2016, 08:52:50 PM »
This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

We put the heads of folks that try dumping their gas into our fake ventilation shafts on poles around the bunker. It's cure how they think we didn't plan for that. They look so surprised. ;)

Thanks for the investment tip! Just bought into "Stakes For Heads Inc." on the voodoo market. 

RosieTR

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #15 on: January 19, 2016, 09:07:33 PM »
As opposed to that time when the global markets collapsed, and I listened to it, in real time, on NPR? It was called 2008. Been there, done that, literally have the T-shirt (I'm sure I did a 5K somewhere that has 2008 on it).
What I remember about things preceding that, was wild optimism about the housing market specifically, and the rest of the economy generally. Also found out the hard way about shitty market timing, as we bought a house in Phoenix in July 2008, thinking it was probably "near the bottom". It had dropped nearly 50% of the top, after all. Whoops.
My thought is, oil being cheap is a symptom, not the cause. The world economy is weak right now. At some point, the cheapness of oil will likely lead to economic growth, since oil is the crude commodity used to make most of the items and services companies sell.

brooklynmoney

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #16 on: January 19, 2016, 09:09:34 PM »
I thought this was MMM not Zero Hedge

Le Poisson

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #17 on: January 19, 2016, 09:11:30 PM »
As opposed to that time when the global markets collapsed, and I listened to it, in real time, on NPR? It was called 2008. Been there, done that, literally have the T-shirt (I'm sure I did a 5K somewhere that has 2008 on it).
What I remember about things preceding that, was wild optimism about the housing market specifically, and the rest of the economy generally. Also found out the hard way about shitty market timing, as we bought a house in Phoenix in July 2008, thinking it was probably "near the bottom". It had dropped nearly 50% of the top, after all. Whoops.
My thought is, oil being cheap is a symptom, not the cause. The world economy is weak right now. At some point, the cheapness of oil will likely lead to economic growth, since oil is the crude commodity used to make most of the items and services companies sell.

One of the historical lessons I remember is that whenever there is a market adjustment it is the dawn of a new technology. If you can spot that tech emerging as the market fails, you will do very well in the recovery. If you are too busy watching your own hard slide you will not see the new trend emerge until its too late.

mxt0133

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #18 on: January 19, 2016, 10:05:13 PM »
One of the historical lessons I remember is that whenever there is a market adjustment it is the dawn of a new technology. If you can spot that tech emerging as the market fails, you will do very well in the recovery. If you are too busy watching your own hard slide you will not see the new trend emerge until its too late.

What would you say the new technology was during 2008/2009 market adjustment?

MoonShadow

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #19 on: January 19, 2016, 10:40:53 PM »
One of the historical lessons I remember is that whenever there is a market adjustment it is the dawn of a new technology. If you can spot that tech emerging as the market fails, you will do very well in the recovery. If you are too busy watching your own hard slide you will not see the new trend emerge until its too late.

What would you say the new technology was during 2008/2009 market adjustment?

If I were to guess, I'd say that it was oil fracking was hitting it's heyday.  If you could have foreseen that one, you could have made a fortune over the past several years.  But then, you'd had to have bailed on it before spring of '15.

Le Poisson

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #20 on: January 20, 2016, 02:00:32 AM »
One of the historical lessons I remember is that whenever there is a market adjustment it is the dawn of a new technology. If you can spot that tech emerging as the market fails, you will do very well in the recovery. If you are too busy watching your own hard slide you will not see the new trend emerge until its too late.

What would you say the new technology was during 2008/2009 market adjustment?

If I were to guess, I'd say that it was oil fracking was hitting it's heyday.  If you could have foreseen that one, you could have made a fortune over the past several years.  But then, you'd had to have bailed on it before spring of '15.

In my mind - That would be the real emergence of cellular/wearable tech. OTOH, some would argue that it wasn't a large enough shockwave to really count for much of anything. See here: https://en.wikipedia.org/wiki/Kondratiev_wave - which predicts a major readjustment for 2015, based on historical wave patterns.



nereo

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #21 on: January 20, 2016, 05:49:26 AM »
The clickbait link of the OP notswithstanding, the Baltic Dry Index has dropped below 400 for the first time in it's history last week & Walmart announced that they are closing 269 stores (worldwide) before the end of January.  Ouch.  This is no ordinary correction, although there is no telling how deep this fire sale will go before it's time to buy back in.  I have a lot of idle capital I have waiting, and am mostly just waiting to see how close I can guess the bottom.  But if you play this game, one better be nimble & ready to move.  It's easy to get burned during a fire sale.
I do not share your pessimism my friend.
Regarding the Baltic Dry Index - it's low metric right now isn't an indication of the apocolypse, but an indication that the availability of container ships and the cost to ship things across oceans has fallen.  There are several reasons why this has happened; 1) yes, global demand (particularly in CHina) has dropped, but also 2) oil is cheap (which reduces the ship-cost of the voyage and 3) there are so damn many cargo ships right now.  We (actually China) overbuilt for the last several years.  This might expalain it better than I can.

AS for Walmart, they aren't closing 269 of their normal stores, but abandoning their "small format" stores which are a brand new concept to the company.  Basically, they realized they weren't going to be very profitable and have decided to stick to doing what they've done best - very large stores that can turn profits on razor-thin margins.

In the meantime, jobs have been created, employment is low and so far the US is doing ok.  Not fantastic, but ok.  Now Russia, Iran and many other countries have very tough roads ahead.

soccerluvof4

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #22 on: January 20, 2016, 07:17:30 AM »
As far as Walmart goes there closing 4 Walmart stores but there are several Meyer foods going in, Whole foods and a whole lot more. Walmart is facing competition...period!

I dont see any indication the collapse is here and nothing more than a healthy correction is needed. I also agree with Nereo perception of the Baltic Dry index.  People keep yelling the market is going to collapse so just one day the will be right.  Might as well start saying your going to die because eventually will be right about that too.


Giro

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #23 on: January 20, 2016, 07:55:38 AM »
Sorry OP. You missed the boat. If you bunker isn't full off ammo, guns, gold, chainsaws and MREs by now....well it's gonna be ugly for you.

This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

favorite post ever.  This is always my answer to the zombie apocalypse.  Why would I stockpile if I'm stronger/smarter/less ethical than the person who is stockpiling? 


Tetsuya Hondo

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #24 on: January 20, 2016, 07:57:38 AM »
There's a way to inoculate yourself against this stuff.

Write down whatever this YouTube financial profit is predicting and be sure to note any specifics, especially dates. Then, when the doomsday dates roll around, revisit what they said and have a good laugh. This works pretty well for any CNBC pundit or political hack/TV talking head/radioshow git too. Once you start tracking what these knuckleheads are saying, you'll quickly realize that they're all full of shit and you'll never waste another second clogging your head with their misinformation.

Retire-Canada

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #25 on: January 20, 2016, 08:16:50 AM »
favorite post ever.  This is always my answer to the zombie apocalypse.  Why would I stockpile if I'm stronger/smarter/less ethical than the person who is stockpiling?

Because somebody else will be stronger/smarter/less ethical than you AND will have stockpiled equipment and supplies. You'll be working the fields for them.

If you don't start out hungry, poorly equipped and with a shitty defensive position you will last a lot longer.


Gondolin

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #26 on: January 20, 2016, 08:59:51 AM »
Personally, I'm still waiting for the Rapture.

esq

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #27 on: January 20, 2016, 09:14:04 AM »
Sorry OP. You missed the boat. If you bunker isn't full off ammo, guns, gold, chainsaws and MREs by now....well it's gonna be ugly for you.

This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

Hahahaha!!  A friend's husband has started this whole mindset.  He participates in survivalist discussion boards and has started stockpiling lentils.

Le Poisson

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #28 on: January 20, 2016, 09:18:02 AM »
Bunkers shmunkers. Every Mormon house has a year's worth of food in it for a bigger family than yours. You should be able to pick them out pretty easy.

Exflyboy

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #29 on: January 20, 2016, 09:25:22 AM »
OK, I think we have decided the meltdown is NOT going to happen..

Personally I am waiting for a 20 to 25% pullback then will start investing sidelined cash. I am semi RE'd so not a lot of money going into savings at this point so generally I am limited to rebalancing efforts to get a bit of a boost on the market average.

GuitarStv

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #30 on: January 20, 2016, 09:27:58 AM »
What is the appropriate time to wait before going cannibal in a shit hits the fan scenario?  You want to make sure that it's not just a local blackout or something, but you also want to be able to stockpile the best looking cuts of meat (and preserve them for jerky and such) before they get too lean. . .

Cougar

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #31 on: January 20, 2016, 09:39:02 AM »
OK, I think we have decided the meltdown is NOT going to happen..

Personally I am waiting for a 20 to 25% pullback then will start investing sidelined cash. I am semi RE'd so not a lot of money going into savings at this point so generally I am limited to rebalancing efforts to get a bit of a boost on the market average.

you can visit the doomer sites and be stocking up on cannned goods if you wish, but even in the great depression people still went out, had cars repaired, even went on vacation. if we are starting the next recession, it will bottom out eventually and people will adapt to whatever it limits them to like not buying new clothes that year.

glad to finally find someone here besides me not still throwing money in a mkt in a declining economy and mkt. conserving principle is my #1 goal.

Dicey

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #32 on: January 20, 2016, 09:51:46 AM »
Sorry to be impolite, but my first response was "Bite me." And I didn't bother with clicking the link. YMMV.

Exflyboy

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #33 on: January 20, 2016, 09:58:43 AM »
OK, I think we have decided the meltdown is NOT going to happen..

Personally I am waiting for a 20 to 25% pullback then will start investing sidelined cash. I am semi RE'd so not a lot of money going into savings at this point so generally I am limited to rebalancing efforts to get a bit of a boost on the market average.

you can visit the doomer sites and be stocking up on cannned goods if you wish, but even in the great depression people still went out, had cars repaired, even went on vacation. if we are starting the next recession, it will bottom out eventually and people will adapt to whatever it limits them to like not buying new clothes that year.

glad to finally find someone here besides me not still throwing money in a mkt in a declining economy and mkt. conserving principle is my #1 goal.

Yes I have a foot in both camps.. While I need to preserve capital, I also suffer from GBS (greedy Bastard Syndrome). This means I like to find low risk ways to boost my stash.

I am in the fortunate position of having access to pensions starting this year and rental income. Together these pretty much cover our living costs so I can afford to be a little more greedy than the average retiree who has to live of their stash at 25X expenses.


I'm a red panda

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #34 on: January 20, 2016, 10:10:41 AM »
Bunkers shmunkers. Every Mormon house has a year's worth of food in it for a bigger family than yours. You should be able to pick them out pretty easy.

Make sure to pick a family smart enough to have bought a wheat grinder.  I once spent a day showing my LDS friends how to grind wheat to make bread. All of them had the wheat- no one though to have a grinder, or any idea what to do with the wheat they all stored.

Easye418

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #35 on: January 20, 2016, 10:16:24 AM »
It hurts now to see that my money is back down to when I invested it in the first place (2 years ago), but talk to me in 10 years.

I wish I had the financial flexibility to raise my 401k.

Exflyboy

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #36 on: January 20, 2016, 10:56:02 AM »
It hurts now to see that my money is back down to when I invested it in the first place (2 years ago), but talk to me in 10 years.

I wish I had the financial flexibility to raise my 401k.

But you are contributing to your 401k right?..  if you are 10+ years from retirement, keep buyig stock ETF's.

The lower the market goes the more you will make when it recovers.

golden1

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #37 on: January 20, 2016, 01:02:26 PM »
I love my husband dearly, but he is a financial catastrophizer extraordinaire. 

He yanked his money out of his 401K right before the 2008 collapse.  I did not.  My 401K dived and then recovered.  He still has not put his 401K back in the market 8 years later because he is afraid that he will lose all his money so it just sits there losing money every day.  I, on the other hand left it in and keep adding.  Every year or so, whenever Zerohedge tells him to or the markets start a correction or downturn he starts to freak out and tells me to cash out my 401K like he did.  And I don't.  And I won't.  I finally flipped my lid a few years ago when he went on one of his rants and explained to him that I fundamentally disagree with his philosophy and I will make decisions about my own earnings, he can make decisions about his, and since then he has left me alone.  So despite the fact that I have put less money in my 401K overall since I have worked about 8 less years than him, I am ahead.   But of course, when the financial meltdown happens, I'll be thankful that his money isn't in the market.   /sarcasm.

soccerluvof4

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #38 on: January 20, 2016, 01:08:56 PM »
I don't even have to click the video.  Let me guess:  Buy gold?


Thats what Trump said.....looks like he would of been right for a trade!

haha..



Metta

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #39 on: January 20, 2016, 01:37:10 PM »
I am risk averse, though, so I will hedge my bets by eating all the good chocolate in the house.   For the things that really matter, you really cannot be too careful. :)

So very sensible! Eating all the good chocolate in the house is virtually the answer to any catastrophe or threatened catastrophe.

Or non-catastrophe, for that matter.

pdxbator

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #40 on: January 20, 2016, 01:50:46 PM »
Thomas Friedman at the New York Times has an interesting article on similar thoughts.
http://nyti.ms/1OvMzAN

FLBiker

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #41 on: January 20, 2016, 01:52:24 PM »
Sorry OP. You missed the boat. If you bunker isn't full off ammo, guns, gold, chainsaws and MREs by now....well it's gonna be ugly for you.

This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

Ha!  Reminds me of an uncomfortable joke I made at a permaculture workshop.  One of the other participants kept talking about how great her bug out bag was, and how she always had it with her, how many different ways she had of making fire, etc.  She asked me what I had in my pockets, and I said I had a Swiss army knife and a good idea of where to get a well-stocked bug out bag.  :)

Exflyboy

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #42 on: January 20, 2016, 02:54:41 PM »
I am risk averse, though, so I will hedge my bets by eating all the good chocolate in the house.   For the things that really matter, you really cannot be too careful. :)

So very sensible! Eating all the good chocolate in the house is virtually the answer to any catastrophe or threatened catastrophe.

Or non-catastrophe, for that matter.

Chocolate is a vegetable right?...:)

MoonShadow

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #43 on: January 20, 2016, 03:00:05 PM »
I am risk averse, though, so I will hedge my bets by eating all the good chocolate in the house.   For the things that really matter, you really cannot be too careful. :)

So very sensible! Eating all the good chocolate in the house is virtually the answer to any catastrophe or threatened catastrophe.

Or non-catastrophe, for that matter.

Chocolate is a vegetable right?...:)

During TEOTWAWKI, everything is a vegetable.

Mermaid3011

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #44 on: January 20, 2016, 03:02:04 PM »
I am risk averse, though, so I will hedge my bets by eating all the good chocolate in the house.   For the things that really matter, you really cannot be too careful. :)

So very sensible! Eating all the good chocolate in the house is virtually the answer to any catastrophe or threatened catastrophe.

Or non-catastrophe, for that matter.

Chocolate is a vegetable right?...:)

Of course chocolate is a vegetable!

- Cocoa Beans are beans and for me legumes are vegetables
- sugar cane and sugar beets grow on a field and are definitely a vegetable
- cream comes from cows, they eat grass and herbs - clearly a vegetable

blackjack

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #45 on: January 24, 2016, 12:31:24 PM »
The debt based economy is coming to an end... No way this can go on

I will still continue to max out my accounts but I'm probably going to start buying some precious metals.... maybe 10%
« Last Edit: January 24, 2016, 12:40:37 PM by blackjack »

serpentstooth

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #46 on: January 24, 2016, 01:26:20 PM »
As opposed to that time when the global markets collapsed, and I listened to it, in real time, on NPR? It was called 2008. Been there, done that, literally have the T-shirt (I'm sure I did a 5K somewhere that has 2008 on it).
What I remember about things preceding that, was wild optimism about the housing market specifically, and the rest of the economy generally. Also found out the hard way about shitty market timing, as we bought a house in Phoenix in July 2008, thinking it was probably "near the bottom". It had dropped nearly 50% of the top, after all. Whoops.
My thought is, oil being cheap is a symptom, not the cause. The world economy is weak right now. At some point, the cheapness of oil will likely lead to economic growth, since oil is the crude commodity used to make most of the items and services companies sell.

I remember December 2007-January 2008. I was staying at my college over winter break to work for the Grounds department, and there weren't many people around, so I'd hole up in my dorm room and listen to NPR. I remember thinking at the time we were in a recession, though I don't think it was "official" for a few more months.

serpentstooth

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #47 on: January 24, 2016, 01:29:18 PM »
Bunkers shmunkers. Every Mormon house has a year's worth of food in it for a bigger family than yours. You should be able to pick them out pretty easy.

Make sure to pick a family smart enough to have bought a wheat grinder.  I once spent a day showing my LDS friends how to grind wheat to make bread. All of them had the wheat- no one though to have a grinder, or any idea what to do with the wheat they all stored.

Ah, the wheat. I was watching a documentary on Mormon polygamists and they were grinding wheat for their bread. Because when you have eighteen kids eighteen and under, what you really need is one more labor intensive kitchen chore, amirite?

DeltaBond

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #48 on: January 24, 2016, 01:52:36 PM »
This is a common misconception.


All that you really need is to know is where the survivalists have their bunkers, and how to make some mustard gas out of simple household cleaners.

We put the heads of folks that try dumping their gas into our fake ventilation shafts on poles around the bunker. It's cute how they think we didn't plan for that. They look so surprised. ;)

LMFAO

Le Poisson

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Re: THIS IS IT. COLLAPSE IS HERE.
« Reply #49 on: January 24, 2016, 02:31:32 PM »
Bunkers shmunkers. Every Mormon house has a year's worth of food in it for a bigger family than yours. You should be able to pick them out pretty easy.

Make sure to pick a family smart enough to have bought a wheat grinder.  I once spent a day showing my LDS friends how to grind wheat to make bread. All of them had the wheat- no one though to have a grinder, or any idea what to do with the wheat they all stored.

Ah, the wheat. I was watching a documentary on Mormon polygamists and they were grinding wheat for their bread. Because when you have eighteen kids eighteen and under, what you really need is one more labor intensive kitchen chore, amirite?

My parents weren't polygamists, but we had both a hand-crank grinder and an attachment for the Oster kitchen centre. (Think Kitchenaid stand mixer). Dad was really big on 'rotating stock' through the food storage, so we made sure to use up the oldest pail of wheat every year and replaced it with a new one. Sometimes we'd use the manual grinder just to be sure everyone knew how it worked.

Our bread was soaked in tears.