billion a year, a drop in the bucket. A supply-side economist could have told him that not even these paltry revenues will be realized. Not to private savers. Americans are over their heads in debts. Not to foreigners. Thanks to Clinton/Bush financial deregulation and Wall Street and bankster greed, the rest of the world is in financial turmoil and hasnt .75 trillion in savings to lend. Possibly, the stock market will collapse further, and whatever remaining wealth Americans have will flow …
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He is an idiot , changing channel NOW !!
GEORGE- YOU ARE ABSOLUTLEY HILARIOUS, right on, and have such a great presence on screen.
You cheer me up.
please sned me more info about moving to new zealand PLEASE i am scared
very very scared and i need help about how to get there and how much money i will need thanks
damn straight. you know exactly what you are talking about. this is like biblical shit. people dont believe, then in the end times, they will be the ones banging on the door of the ark after the flood is coming. You cant tell anyone anything they dont want to hear. September 2009. is the end.
Yes, a 30year fixed interest rate would seem to be good during inflationary times, as long as the person who owes this money can maintain their employment…that’s a good point, but how many people have variable rates?have you seen any statistics of fixed rates vs. variable rates? because it may offer some idea of the impact if interest rates do go up
When there’s a fire, we want an alarm to go off to warn us, if there’s a burglar breaking into our houses we want an alarm to go off to warn us and scare away the threat, it’s precisely the alarm that brings our attention to the threat so the threat is diverted and everything can be ok, but ignoring such we’ll supported evidence for this threat is not a good move, I don’t yet think its coming ‘beyond all reasonable doubt’, but I do on the ‘balance of probabilities’.
Only the USA can print it’s own currency. It would take a constitutional amendment for that to change. It’s nearly impossible for the US to pass a constitutional amendment and one that gave away our sovereign right to print money would never get through the process (ratification in all states – including ultra conservative southern states). It’s going to take more than a mild depression to convince that many people to vote for an amendment like that. Your comment seems quite alarmist.
They can’t just “charge higher interest rates” on mortgages. Traditional mortgages are 30 year fixed notes. That means that the interest rate is FIXED at the rate in which you finance it at. Right now you can get a 30 year fixed for 4.625%. Future mortgages will have higher interest rates but current mortgages will not. This is why it makes no sense to not buy property if you think we are going to have (hyper) inflation.
Check out the ‘Amero’ on the net, or even youtube has plenty of videos on the subject, its believed to be the currency that is already planned for the ‘North American Union’ of Canada, the US and Mexico under one currency, it’s all part of making a larger stronger country that can compete against entities like the EU, ASEAN etc…but to do this, it seems the US dollar which has been the strongest currency must be debased/inflated first, or at least thats how I see things playing out before us
my understanding was that when inflation rises above the rate of interest on bank deposits then everyone takes their money out of the banks to find hedges against inflation, but then the banks have to offer a higher interest rate on bank deposits to keep peoples money in their banks, but to pay this higher interest rate on peoples savings they have to charge a higher interest rate on loans/credit/mortgages and this rate is likely to be very high?
Great Stuff George….I relate to everything you’re saying. Unfourunantly, apathy and cognaitive dissonance seems to have a powerful grip on the masses. Seems that most people cannot handle this truth and they desperately want to return to
unsustainable lifestyles at any cost. -Keep fighting and never surrender.
good video george.
See this gay eyes, what’s he talking about.
I can see why your family don’t listen to you.
What you say makes very little sense. Basically, you say not to buy real estate because prices will continue to fall. Then you say that there will be hyper inflation. If there is hyper inflation, it makes a lot of sense to buy real estate since it is a hedge again inflation. You can pay back the bank loan using devalued and worthless currency. Who doesn’t want to buy a property with real hard money and repay it with valueless monopoly money?
Goerge, how come you are in a tent. did you lose your home? i know tent citys are springing up in cali and else where.
Correct, i am armed to the teeth!
One of the biggest lessons I have learnt during these times now, is the mass population really do live in denial when things are going bad such as now. There is only 1 or 2 people in my daily life out of many, that I can talk to about what has really been happening. The rest just don’t have a clue, they are just brain washed, or ignorant. Stay positive though George, it really is the best way to be.
does Apocalypse sound familiar?….Bible is the only truth about our future.
you are right.
And you live in a tent.
good job. doing the same and hoping for the best. but hope is not a strategy. store food and be prepared to protect yourself, your food and property.
19 acres on solar and a well, paid for in cash, i hope i wont need it.
Go George your doing a great job.
CNBC It all full of shit
WORLDWIDE
New Job During The RECESSION?
- Make Money Flipping Domains On The Internet !
George get into gold or dirt without debt. When the dollar is worthless, you will need something to trade or a place to plant your crops so you can eat. Real estate will be there, stocks, bonds, etc are just paper.