Schiff-it's going to be worse than the Depression

**BraggSurvivor** · 06-02-2008, 08:18 PM

How about some predictions?
• I think the stock market is headed lower. Gold is going to be $1,200 to $1,500 by the end of the year. That puts the Dow at a less-than-10-to-1 price ratio to gold. Right now, it's about 13 to 1. That's another 30 percent drop in the real value of stocks by the end of the year if you price them in gold. The Dow was worth 43 ounces of gold in 2000. It'll get to 10 by the end of the year and continue to fall from there.

• Oil prices had a pretty big run and might not make more headway by the end of the year. But we could see $150 to $200 next year. I don't think oil will hit $250 because there will be enough destruction of demand in the United States to keep it from doubling. The big problem for us is if the Chinese substantially allow their currency to rise. It could increase at least fivefold against the dollar over the span of a year or two. That reduces the price of oil by 80 percent for 1.3 billion Chinese. Consumption would go through the roof, and that will drive prices through the roof for us.

• At a minimum, the dollar will lose another 40 to 50 percent of its value. I'm confident that by next year we'll see more aggressive movements to abandon the dollar by the [Persian] Gulf region and by the Asian bloc. That's where the stuff really hits the fan.

(You delved off into politics. Verboten!)

So how bad do you think this economy will get?
The other problem we'll have during those years is civil [unrest]. There will be a big increase in crime. People are going to be hungry. People are going to be cold. There's a sense of entitlement in this country, and when a lot of people used to having things suddenly don't, everybody looks for someone to blame.

Really?
We're going through a very rough period in our history. In many ways, it's going to be worse than the Depression.

http://www.usnews.com/articles/busin....html?PageNr=2

Schiff-it's going to be worse than the Depression

**Teotwawki** · 06-02-2008, 09:23 PM

Well... it is NOT going to be like the '70s in my opinion (you know gas lines, high inflation)...

I believe the coming "crash" or "crisis" or "collapse' or whatever one wants to call it will be much worse. And, yes, I think there is a real chance that it will make the great depression pale in comparison.

**Rick** · 06-03-2008, 07:57 AM

I couldn't care less. Frankly, I'm tired of hearing it. No one has a handle on what's going to happen.

**Alpine_Sapper** · 06-03-2008, 08:26 AM

"At a minimum, the dollar will lose another 40 to 50 percent of its value"

Yeah, but how could you take an economy seriously that called it's dollar the "loonie"?

In today's news....the loonie is down 3%...

Ooooohhh....how thhhhad for you....

BANNED IN THE U.S. (Crash: DO NOT FOLLOW THIS LINK!)

40-50%? Give me a break. Why not just predict a global outbreak of pneumumpameasahiv fever?

**Rick** · 06-03-2008, 09:20 AM

Alpine - Some folks actually consider the F word offensive. I know, go figure but I can live without it, too.

**Alpine_Sapper** · 06-03-2008, 09:26 AM

Wow...I feel like 2LiveCrew back in the day... Sorry, I'm so jaded to it I don't even hear it as anything but another word now days.

**BraggSurvivor** · 06-03-2008, 06:45 PM

Originally Posted by Rick

I couldn't care less. Frankly, I'm tired of hearing it. No one has a handle on what's going to happen.

Your exactly right that no one has a handle on it, that's what makes it so scarey.........

**Rick** · 06-03-2008, 07:07 PM

But it doesn't do much good to keep pointing at the sky and telling people it's raining when they are standing there getting wet. They know the economy is bad. They know it every time they (we) pull into a gas station or a grocery store. What folks want/need are some ways to cope. How can they make a dollar stretch? What can they do to get more MPG or KPL for our northern friends. What can we do to increase our food stores or make our food purchases stretch further. You get my drift.

No one on here is an expert in everything but everyone on here contributes to the whole. Think of this place as a post SHTF community and we can all contribute to the well fare of each other. Sooooo. Instead of telling me how horrible things are going to get tell me what I need to do to prepare for the bad times. See?

**Ken** · 06-03-2008, 07:08 PM

See Post #4:

Last edited by Rick : Today at 09:19 AM. Reason: Removed offensive link

Oooooh. I feel that power coming through the modem again.

**dragonjimm** · 06-03-2008, 07:14 PM

....long soliloquy.........aww shoot i hope the fan has big blades when it happens .....we're long over due for a general uprising

**Ole WV Coot** · 06-03-2008, 10:04 PM

We have a funeral home down here that gives 25% discount for walk-ins, and another 5% if they bring their own box. If it's going downhill fast well pi$$ on the fire and call the dogs and save some of your cash for somebody that don't give up that easy.