A 25-year Great Depression is unavoidable…

[Sofa King]

http://moneymorning.com/jim-rickards-coming-great-depression/



http://pro.moneymappress.com/MMRBS495LG/PMMRR2AG/?iris=331641&from=fb&referrer=www.facebook.com&d=totalwealthresearch.com&h=true

[Chuck]

Lol

[Sofa King]

Good to be debt free just in case!!

[MrStash2000]

BULLISH

[mohawkbrah]

TL;DR


in other words don't invest solely in USA economy form a brief skim of that article.

Invest globally

[Two9A]

Good to be debt free just in case!!

It's part of the reason I'm paying down my mortgage instead of pointing any more cash at Vanguard for the moment. For one, I've filled my tax-free allowance for the year; for two, the mortgage is at 4%, so that's a guaranteed return.

I'm slightly paranoid about The Coming Hundred-Year Depression, so as long as my debts are gone... :D

[Dexterous]

Conspiracies, lies, and speculation all in one article!  This trash should be on a site like abovetopsecret or something, but not here... lol.

[paddedhat]

Unless you are a conspiracy nut who accidentally ended up here with the intelligent folk, there is no reason to click on this crap. The site is garbage, catering to the "end of the world" crowd. When you click to clear pop-ups that prevent you from reading the "article",  it opens new screens, then it locks up.

A couple of hundred thousand years ago, a lone knuckle dragger ran through the village, screaming that the word is going to end. In the interim, there have been a steady parade of new knuckle draggers selling the same crap. Fast forward to the net, and they become experts with followers. PT Barnum laughs.

Sofa King, it might be a good idea to follow the advice of another loon, Glenn Beck, and give Goldline a call.
The sky is falling and you need to be invested in the only thing that matters. After all, we are suffering under the illegal rule of a Kenyan socialist unelected president trying to ruin America, and fiat currency is our doom, LOL

[matchewed]

I should be clicking on fear mongering clickbait articles because why again?

[One Noisy Cat]

I should be clicking on fear mongering clickbait articles because why again?

    I do for comedy.

     There is a smidgen of useful advice that good times don't last forever and be prepared for inevitable downturns. But 25 year depressions? And was 1870-1900 really a depression for huge numbers of people?

[Cougar]

um, we're already in one.

if you look at the price of goods vs. salaries over the past 25 years; people's incomes have been losing ground repeatedly.


but in relation to the story. there is a big issue with global debts and the usa's entitlement programs that are going to stifle economic growth for some time and the past 8 years(including some of bush's years) has just papered over the problems.

my prediciton is japan will hit the debt wall first, there will be a dramatic decline in economics when that happens and whatever japan does will be what everyone else does because throughout world history; governments never deal with tough problems until they have to and they all do the same thing.

england was an empire and spent itself with welfare to be unable to carry that on and then got socialized medicine; the usa is now in the process of doing the same.

[ender]

um, we're already in one.

if you look at the price of goods vs. salaries over the past 25 years; people's incomes have been losing ground repeatedly.

Really?

Or is it that there are more goods people expect to have as "standard life goods" which increases the relative income requirements?

[Syonyk]

Well, economic models generally assume year over year growth - or exponential growth.  "Grow your way out of debt" and all.  Not that anyone seems to be taking that seriously anymore - Modern Monetary Theory has created a nice cover story for why it "doesn't matter."

Last I looked, we live on a rather finite planet.  I'm pretty confident in saying that, at some point, exponential growth will run into a brick wall.  I'm not going to go about making predictions on when, but I'm sure it will happen.

However, we're already past peak oil (2005-ish for conventional oil), and White's Law (that economic growth/cultural growth is proportional to energy use) would indicate we might have some issues coming up.

Combine the limits to cheap energy, the incredible amount of accelerating debt the world is taking on (and then the multiple layers of gambling layered on top of that - I think they're normally called "derivatives"), the issues with our current agriculture systems (hint: Food is basically an oil derived product at this point), the water shortages in some areas... there could be some trouble ahead.

Really, I'd argue that someone claiming it will be only 25 years is being optimistic.  It's a lot more likely to lead to the end of western industrial civilization as a concept. :)  The good news, as it were, is that that decline usually takes centuries (based on past civilizations), and being debt free and used to living on a lot less makes being happy during such times a whole lot easier.

[Spork]

um, we're already in one.

if you look at the price of goods vs. salaries over the past 25 years; people's incomes have been losing ground repeatedly.

Really?

Or is it that there are more goods people expect to have as "standard life goods" which increases the relative income requirements?

I've been saying exactly that for years.

[PeachFuzzInVA]

Regardless of whether the dollar collapses tomorrow or we somehow manage to kick the can down the road another hundred years, fancy shit isn't going to make me any happier after it happens. I'll take my chances on the can getting kicked down the road another hundred years and keep investing my money in profitable companies in the mean time.

[arebelspy]

Wow.  Every one of the y-axis is terrible on that article.  Are people stupid enough to fall for something like this?

(Don't answer that.)

um, we're already in one.

if you look at the price of goods vs. salaries over the past 25 years; people's incomes have been losing ground repeatedly.

Really?

Or is it that there are more goods people expect to have as "standard life goods" which increases the relative income requirements?

I've been saying exactly that for years.

So have I: http://www.mrmoneymustache.com/2012/07/08/early-retirement-cant-work-or-id-have-heard-of-it-before/

:)

Depression?  If you can avoid those consumer trappings, you can FIRE easier today than ever!

[Mistah Cash Lion]

Regardless of whether the dollar collapses tomorrow or we somehow manage to kick the can down the road another hundred years, fancy shit isn't going to make me any happier after it happens. I'll take my chances on the can getting kicked down the road another hundred years and keep investing my money in profitable companies in the mean time.

+1

[Indexer]

Ouch... the was painful to read.  I'm not even referring to the content.  I'm referring to the writing style. 

Lets type one sentence

and then double space

before the next sentence

and then say

THE WORLD IS OVER!

Then we can repeat this trend for 100 pages.

100 pages of useless crap

that you have to read one line at a time.


Like a %$^$ing chain letter

from 1995.


On a more serious note... its all crap.  An intelligent person writing to an intelligent audience would write a paper that can be taken seriously.  This is written like a conspiracy theorist on LSD.  Even if I agree with a few of the minor points I can't honestly take someone who writes like that seriously.

[Syonyk]

Ouch... the was painful to read.  I'm not even referring to the content.  I'm referring to the writing style.

It's a transcript of an interview.  That's how most of them end up.

From the very top:
Please review the transcript from today's interview...

[Indexer]

Ouch... the was painful to read.  I'm not even referring to the content.  I'm referring to the writing style.

It's a transcript of an interview.  That's how most of them end up.

From the very top:
Please review the transcript from today's interview...

If one person says a paragraph worth of information before the other person speaks again... you can type it out as a paragraph instead of 15 sentences double spaced to take up 3 pages of space. 

Here is a great example:   https://personal.vanguard.com/us/insights/article/mcnabb-interview-082014

I didn't cherry pick that.  It was the last interview I remember reading.

[Ricky]

I refuse to read it at all. Nice try though.

Rule of thumb: if a site claiming to give you great "news" looks like it was developed in the 90's then you need to GTFO immediately. In other words, if a site isn't well designed then they aren't trying hard enough to begin with.

[KungfuRabbit]

Fascinating.

Good thing I'm planting a vegetable garden today. I'll be ready to live off the land in no time (well, for like 4 months of the year....this is MN after all).

O, and this was my plan for the day already. I just needed something to read while taking a crap.

[roadtofreedom]

SP is really expensive in current level.

QE in Europe will be the gas in next months and European index will be on the top of the roll


Sent from my iPhone

[Bob W]

If I could get past the pop ups I would be able to read the article.  Suck site

[jmusic]

Jim Rickards is a well known Perma-bear...

[Sid Hoffman]

Came in betting this to be an Infowars article.  I lost the bet (with myself) but it looks like the same kind of wild speculation and fear-mongering.  I think the most important thing to remember is that averaged over time, the bears are wrong, and the only time bears are right is for short periods of time before being wrong again.

[NoraLenderbee]

um, we're already in one.

england was an empire and spent itself with welfare to be unable to carry that on and then got socialized medicine; the usa is now in the process of doing the same.

Well, actually, England was an empire that spent its wealth defeating Germany in two world wars. Socialized medicine came afterward and was not the cause.

[kendallf]

LOL..

I read the first few sentences and went to Google, and thence to Wikipedia, where I found this gem:

"As of February 2015 Rickards is described as "Financial Threat and Asymmetric Warfare Advisor CIA & The Director of National Intelligence" on websites and in emails sent out warning of imminent financial collapse in the United States. These websites and emails (for example, the Money Morning website article '5 Sure Signs the US Economy is finished') imply that he has held, or holds, official posts with US intelligence, defence, and security agencies: for example as "a financial market advisor to the Office of the Director of National Intelligence", and as the "architect" of "Project Prophecy", described as a CIA system devised to predict financial meltdowns. However, RIckards has never had any such official association with any such US agency. There is no evidence that "Project Prophecy" has ever had any official sponsorship from the CIA, or indeed that it actually exists in any form apart from as a name in Rickards postings."

I think I'm going to start a website and claim that I'm the official financial advisor to the Men In Black.  Tommy Lee Jones shilling for Ameriprise is just a cover..