its beginning..

scary, what kinda world will my 2yr old grow up in.

Yeah it's beginning. Look back on my blog two years plus. I said buy gold and that real estate was going to collapse. Back then a Kruggerand was $425/oz (nearly double that now) and real estate was booming.

It's so obvious I just am completely in shock how people disregard imbalances or are naive to them. Or even worse is when they do know and don't heed the signs. I really wish things were different or that the future looked bright for the U.S. economy, but the outlook is terrifying. Keep talking I want to hear what you're thinking.

My gal and I are a young couple, she's just finished med school - and I'm struggling to find my feet doing what I want to do and being good at it - whilst at the same time holding down a full time job where I work to hard, and don't get paid enough.

Whilst we are in Australia where this isn't happening right now. This isn't going away over night - and this is going to go global, and fast. I think this phenomena is going to be shape the world in a new way. Debt is going to explode, and the manner in which we live is going to be affected dramatically.

We're looking at buying a place sometime soon - but here in Sydney - prices just keep rising. I'd say we're not too far off from the falsely inflated markets in the US in all honesty. I'm scared for all those people who are paying those mind boggling mortgages in however long it takes - to have their houses valued at 10%, 20%, 30%, 50% lower... Their investment and mortgages are still there...

This topic is so huge - and is going to affect so many people its awful.... I hope its better than we foresee.... I do.... I want to own a home. Looks like waiting is going to be the right choice...

wow - I must be affected by this - my words don't make a whole lot of sense close together- but as a whole - seem to fit... sorry for the disjointed grammar....

Hillary will take care of everything. \o/

Hillary will take care of everything...lmao

Saw this on ebay a minute ago. I know its not related to this post but thought you might like to see it.

fong rip off on ebay

ahp photos - we're on it :)

sweep the leg

So we should sell our gold and buy dollars?

No, DJ...sell your gold and buy these.

Invest in Puka shells.... they're getting really hard to find so their value must be at astronomical levels. Just make sure that you aren't buying faux Puka shells and that the cone shells used were from free reef animals and not some factory farmed species.

LOL
GQ

Traffic hog...

What's your definition of "3rd World Countey"?

When I think 3rd World, I invision countries like the Phillippines. No doubt the US is going to get a BIG BIG BIG hit. But still... I can't see the US becoming a 3rd World Country as you have predicted, Gary.

That Canadian Flag, strating to get cozy?

Hey Gary, on my way to school there was a representative of a large real estate company in Florida talking about just this--the market and gold bullion (did i spell that wrong? oh well). he was saying that his company, which is supposedly a major one that sells the most expensive properties in Florida (3 mill and up), didn't sell anything in aug. or sept. the interviewer asked him his opinion on buying a home right now and the prices along with what he predicts will happen in the coming months. The agent/broker said that he predicts that all homes in the 3 million dollar range will go back to the 750,000 range they were in before the fed. govt lowered rates to boost the economy (I know--haha look at what happened...bad idea much?!). They were talking about many americans liquidating their stocks out of fear of the economy and investing in gold b/c it is the only tangible thing of value that they feel confident investing in, which is the smart thing to do if you have investments. Also, he was saying that this is the first time that home prices don't correlate with incomes. that is, instead of rising salaries fueling the real estate prices, the fed. govt's rates fueled the market into a situation that is disastrous to American home buyers and owners--in reality, the situation is disastrous to our country in general. People don't want to buy b/c they know about this and people who did buy are trying not to lose their shirts along with everything else. I didn't think I would ever personally see our economy take a plunge like this in my lifetime and I have to say that it makes me want to pack up and be your new neighbor (lol). If we had the 50% cash to buy a home in canada, we'd do it without blinking an eye. unfortunately, we can't so this is the stuff that the rest of us have to deal with b/c we have complete morons in office that can't even balance their own checkbooks let alone a budget. The day i see a politician that does the right thing is the day I say I'm proud to live here.

Wow.

The Federal Reserve dropped key interest rates yesterday and Gold Prices shot up significantly while the dollar lost value against other currencies. Why? Because local banks and mortgage companies are going to start borrowing more money from the FED, to fix the bad investments they made with sub-prime home mortgages. Essentially, everyone holding dollars is going to bail out the bankers for their mistake. The Fed is going to print up this money, which is going to make all the dollars you and I hold worth a lot less. It's like watering down the soup. There'll be fewer potatoes and carrots in each dipper of soup. Hence, it will cost more dollars to purchase the things you need every day to live. It's like a tax on everyone. This is why we really don't need the privacy invading income tax. You can tax everyone equally by printing up what the government needs each year. Paul Warburg, one of the chief architects of the Federal Reserve Act, was asked back in 1913 why they needed the income tax? His answer was, "So we can reward our friends and punish our enemies." But I digress..

The smart people who understand all this are getting out of US dollars into other currencies. In many cases they are getting into the only portable commodity that has always held its value against all other currencies, gold. Hence the reason Gold skyrocketed and the dollar fell with the news that the Fed was lowering interest rates. The smart investor knows this is a sure sign the dollar will decline in value over the years to come and they are trying to beat the rush for the exits. It's like announcing a company stock split but you only get to keep half of the split. If you knew this was going to happen to a stock that you owned, you would dump it too.

It's not good news for our 401K dollar denominated accounts and it's not good news for people living on fixed retirement pensions or people who are nearing retirment like me.

Charles

campbellsfineportraits.com

This guy sounds like a smart investor...think he's wrong when he says it's a "crisis of confidence?"

I am so darn proud to be an American reguardless of who our president or congress is!

WE THE PEOPLE...

All of this is total psychological crap anyhow..believe its bad and it will be, believe its good and it will be..Americans are sheep..

wonder why Jesus refered to us, the whole world, as His sheep? Arent they like the  most stupid animal on the planet? sheeple...lmao

I gotta go buy some Puka Shells now, be back later

ahp photos - we're on it :)