S&P: '$46 Trillion Perfect Storm' Closing in on US

[dorminWS]

http://www.moneynews.com/StreetTalk/S-P ... ode=EE36-1

[OakRidgeStars]

Yes, but there is something more important to talk about. Like America's first gay president or something.

"Ooh look!... it's something shiny!"

[dorminWS]

Well, ORS, that's one failing of those gay folks .............. human anatomy and physiology being what it is, they're not used to being able to see what's coming. HMMMMM....... I guess maybe that explains A LOT!

[OakRidgeStars]

I propose a solution to that problem...

[dorminWS]

That ain't Obama's solution... It's ONE of his MANY problems.

[kelu]

Better keep some cash under the mattress.

[Kreutz]

Better keep some cash under the mattress.

Cash is worthless, only has mutually agreed upon value, when that power weakens its worth less, hence inflation.

Get a very big mattress.

Fun fact: In Wiemar Germany hyperinflation got so bad people carried suitcases or even carts of money. Thieves would take the suitcase or cart and leave the pile of money behind, since it was worth less than the container.

[kelu]

Hyperinflation a la Weimar does not happen overnight. But a "corralito" a la Argentina can. When the electronic trading is stopped to prevent bank run and ATMs are closed, good luck with your plastic at any shop that still have something on the shelves.
Remember what Biden said about "honorable" Corzine? They analyzed the opportunity of a bank holiday in first Obama days. Anybody still wonder why? And you can bet that the plan still exist, it was only delayed until they could consolidate the power.
Sure, there are other things that tend to preserve value: metals. Precious or just lead. Actually, is better to have both. A mix of cash and metals is probably better.
I have lived thru 2 hyperinflations. Not weimar style, but like from 1 bread = o.65 currency units to 65000 currency units in 10 years.

[ShotgunBlast]

Yes, but there is something more important to talk about. Like America's first gay president or something.

"Ooh look!... it's something shiny!"

I did read that they renewed American Idol for another season....

[Kreutz]

Hyperinflation a la Weimar does not happen overnight. But a "corralito" a la Argentina can. When the electronic trading is stopped to prevent bank run and ATMs are closed, good luck with your plastic at any shop that still have something on the shelves.
Remember what Biden said about "honorable" Corzine? They analyzed the opportunity of a bank holiday in first Obama days. Anybody still wonder why? And you can bet that the plan still exist, it was only delayed until they could consolidate the power.
Sure, there are other things that tend to preserve value: metals. Precious or just lead. Actually, is better to have both. A mix of cash and metals is probably better.
I have lived thru 2 hyperinflations. Not weimar style, but like from 1 bread = o.65 currency units to 65000 currency units in 10 years.

Weimar is a special case, but it did happen and recently happened in Zimbabwe, but for different reasons. Ironically their 1,000,000,000 note sells for five USD on ebay. Go figure.

Pardon my curiosity, but the way you type currency tells me you're European, where are you from?

And how did you get here to this website? Relocating this way soon?

[kelu]

I wrote here: http://vagunforum.net/new-members/new-a ... 12774.html
I'm Romanian. Until couple years ago when they cut 5 zeros I was a millionaire cashing couple tens of millions each month
On topic, Zimbabwe inflation was not overnight either. When I wrote about cash, it is not a joke. You can wake up in a morning and all ATMs shut down, and all banks. It happened before, it will happen again. And you have to buy milk for kids and no store accepts plastic.