US Credit Rating....tick..tick..tick

[Rudyard K]

Originally Posted by Whirlaway

The University of Texas knows shit is about to hit the fan; they just bought $1 billion of gold bullion, yes gold bars, the real thing.....

http://www.usagold.com/cpmforum/2011...akes-delivery/

Bling for the "student athletes" in the athletic programs?

[Marcus Aurelius]

So what's your best guess for the next year? Next few years?

!979, 1982 type stuff?

1929?

Or not?

[pjorourke]

A replay of the last years of Jimmy C's Admin is the best case scenario. About like 1979-82 type stuff. We will be seeing double digit inflation and interest rates. If you haven't fixed your mortgage, do so. On the asset side, get out of debt instruments.

[TexTushHog]

Originally Posted by atlcomedy

I'm waiting for TTH to tell us all how much he lost today ...... ladies (even pros) hate a loser

Sorry to disappoint you. I was traveling yesterday. I do still work. I've actually taken some profits recently and nudged down my exposure to U.S. stocks in the past two or three months. Besides, you don't get worked up about one or two days, as today's mild rally clearly demonstrates.

But you wonder if interest rates are the risk premium of holding T-bill and bonds, if we're in such shitty shape, why aren't rates higher? It doesn't seem that the market thinks we're in that bad of a shape. Likewise, inflation isn't too high. So I'm not terribly alarmed that we're in big trouble yet.

We have a significant debt and a high deficit and needs to be trimmed in future years. And it can easily be done with a combination of tax increases and reasonable spending cuts. Whether the political process will allow that to happen is another question. But time will tell.

[pjorourke]

Originally Posted by TexTushHog

But you wonder if interest rates are the risk premium of holding T-bill and bonds, if we're in such shitty shape, why aren't rates higher? It doesn't seem that the market thinks we're in that bad of a shape. Likewise, inflation isn't too high. So I'm not terribly alarmed that we're in big trouble yet.

Quantitative easing.

Or QE2 to be more precise.

[Marcus Aurelius]

And to be true....inflation has been going through the roof.
Food and fuel.....

[Guest050715-1]

Originally Posted by TexTushHog

Sorry to disappoint you. I was traveling yesterday. I do still work. I've actually taken some profits recently and nudged down my exposure to U.S. stocks in the past two or three months. Besides, you don't get worked up about one or two days, as today's mild rally clearly demonstrates.

But you wonder if interest rates are the risk premium of holding T-bill and bonds, if we're in such shitty shape, why aren't rates higher? It doesn't seem that the market thinks we're in that bad of a shape. Likewise, inflation isn't too high. So I'm not terribly alarmed that we're in big trouble yet.

We have a significant debt and a high deficit and needs to be trimmed in future years. And it can easily be done with a combination of tax increases and reasonable spending cuts. Whether the political process will allow that to happen is another question. But time will tell.

We are manipulating our markets just as the Chinese are manipulating their currency. Many people believe that in the not to very distant future we'll be effectively bankrupt. End of Carter-era America wasn't that wonderful a place. I would hate to repeat it. I can also say that the mid to late 80's in Houston have been likened the Great Depression. I sure as hell don't want to relive those years. And I definitely don't want to relive it for the sake of politicians that are owned by their own ego, desire to remain career politicians and big business.

Say you don't take a terrible beating just a good beating when the rubber meets the road, that's wonderful if you still have 20 plus good earning years left. Maybe you do. What about the people that don't. What about the people that are retired. What about the people that are living on the fringes?

[Doove]

Originally Posted by pjorourke

A replay of the last years of Jimmy C's Admin is the best case scenario.

Which would beat the last years of the Bush II administration.

About like 1979-82 type stuff. We will be seeing double digit inflation and interest rates. If you haven't fixed your mortgage, do so. On the asset side, get out of debt instruments.

Oh, the sky is falling, the sky is falling!!

[Sisyphus]

Originally Posted by OliviaHoward

I can also say that the mid to late 80's in Houston have been likened the Great Depression. I sure as hell don't want to relive those years. And I definitely don't want to relive it for the sake of politicians that are owned by their own ego, desire to remain career politicians and big business.

I was just a regular visitor in those days...but it didn't seem overly pleasant. I recall lots of "For Sale" signs in front of homes...lots of unfinished construction...and lots of "First 3 months free" banners in front of apartment buildings...

Originally Posted by OliviaHoward

Say you don't take a terrible beating just a good beating when the rubber meets the road, that's wonderful if you still have 20 plus good earning years left. Maybe you do. What about the people that don't. What about the people that are retired. What about the people that are living on the fringes?

Keep thincking I'm joking when I say orange jump suits along with 3 hots & a cot sounds like a pretty decent retirement program to me!!

You gals just keep those conjugal visits coming...please!

[pjorourke]

Originally Posted by Doove

1) Which would beat the last years of the Bush II administration.

2) Oh, the sky is falling, the sky is falling!!

1) I lived through both. I'll take Bush II -- as long as I don't have to do another Obama. Of course, the bright side of Carter was that it led to Ronnie.

2) You do a nice Chicken Little

[I B Hankering]

Originally Posted by pjorourke

2) You do a nice Chicken "Little"

You're much too kind PJ. I was thinking of a four letter word.

[davidsmith0123]

Doove, do you really think everything is fine, that the Obama budget plans (such as they have been revealed) are sustainable?

[TexTushHog]

QE II can account for some slack, but not that much. At most it could ease the rates 0.5 to 1%. Even at the outer bounds of that range, it doesn't exactly ring warning bells.

[WTF]

Originally Posted by pjorourke

1) I lived through both. I'll take Bush II -- as long as I don't have to do another Obama. Of course, the bright side of Carter was that it led to Ronnie.

Ronnie?????????? WTF did he do besides make people believe that tax cuts bring the government more revenue. What a joke. We have come full circle though.

[oden]

So what, you want my money? WTF don't blame me when I say you can give your money to anyone you want. Just don't take mine and waste 50% redistributing it to those you want to give it to.