Bitcoin- contactless - Gold- silver- Mr Angry talks sense about the effects C-19 has on the money market

This guy is kind of entertaining, and sounds a bit extreme....But, at the root of his comments are some basic truths that very well might have a negative effect on all of us in the near future. The government "solutions" to nearly every problem seems to be to throw Money at the problem....without showing any concern about funding that "largess". A couple of nations are already showing Negative interest rates, with others contemplating doing so. The National Debt continues to rise unchecked, and ultimately will lead to devaluing the currency, and leading to a major increase in inflation....which will bankrupt millions.

This pandemic, and the leadership responses, have created a perfect storm of conditions which may well lead to a financial disaster rivaling the Great Depression of the 1920's. 2020 was a real mess, and 2021 is showing the potential to be even worse.
 
Don M. said:
This guy is kind of entertaining, and sounds a bit extreme....But, at the root of his comments are some basic truths that very well might have a negative effect on all of us in the near future. The government "solutions" to nearly every problem seems to be to throw Money at the problem....without showing any concern about funding that "largess". A couple of nations are already showing Negative interest rates, with others contemplating doing so. The National Debt continues to rise unchecked, and ultimately will lead to devaluing the currency, and leading to a major increase in inflation....which will bankrupt millions.

This pandemic, and the leadership responses, have created a perfect storm of conditions which may well lead to a financial disaster rivaling the Great Depression of the 1920's. 2020 was a real mess, and 2021 is showing the potential to be even worse.
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I agree ....
 

"What's only holding this together is the central banks and governments pumping in all this monetary methadone into the system to keep it artificially drugged up".

This is all anyone needs to know. 100% truth.
 
I'm very concerned about inflation, possible negative interest rates, a housing bubble and stock market bubbles. The trillions being thrown at Covid and its ultimate effect on countries' national debts is nerve-wracking, but I've yet to hear a better solution. Out of work people can't just starve or live on the streets. Not closing things down will overwhelm hospitals and health care, which is at least as expensive, possibly more. Not to mention the human disaster of an even more out of control pandemic.

Gold and silver sellers have been hawking their wares with doomsday scenarios since the 80s, and probably before that, so it's also important to consider the source.
 
StarSong said:
I'm very concerned about inflation, possible negative interest rates, a housing bubble and stock market bubbles. The trillions being thrown at Covid and its ultimate effect on countries' national debts is nerve-wracking, but I've yet to hear a better solution. Out of work people can't just starve or live on the streets. Not closing things down will overwhelm hospitals and health care, which is at least as expensive, possibly more. Not to mention the human disaster of an even more out of control pandemic.

Gold and silver sellers have been hawking their wares with doomsday scenarios since the 80s, and probably before that, so it's also important to consider the source.
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conversely, 'closing things down'' is also having a huge adverse effect on health care , hospitals et al.. physical and mental health has suffered greatly since everything except Big Pharma and big box stores were basically the only things left open.... soon there will be no money left in the governemnt coffers to dole out to those who are furlough or on unemployment benefits.. I dread to think what will happen then, with no new jobs being created...
 
hollydolly said:
conversely, 'closing things down'' is also having a huge adverse effect on health care , hospitals et al.. physical and mental health has suffered greatly since everything except Big Pharma and big box stores were basically the only things left open.... soon there will be no money left in the governemnt coffers to dole out to those who are furlough or on unemployment benefits.. I dread to think what will happen then, with no new jobs being created...
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Very good points. I have no idea how this will all spin out - or how it might be solved.
 
StarSong said:
I'm very concerned about inflation, possible negative interest rates, a housing bubble and stock market bubbles. The trillions being thrown at Covid and its ultimate effect on countries' national debts is nerve-wracking, but I've yet to hear a better solution. Out of work people can't just starve or live on the streets. Not closing things down will overwhelm hospitals and health care, which is at least as expensive, possibly more. Not to mention the human disaster of an even more out of control pandemic.

Gold and silver sellers have been hawking their wares with doomsday scenarios since the 80s, and probably before that, so it's also important to consider the source.
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The problem is we let ourselves get so far in debt that when we hit an emergency like this we really can't afford the cost. Imagine if we had been following a balanced budget . We could throw all kinds of money at this thing without too much worry. It's not too much different then a household that maxes out all their credit cards and lives way above their means then comes a $500 car repair and they don't have the cash to get it fixed. Or somebody gets laid off for a few months and they're bankrupt.
I've given up thinking it will change and just hope the coming catastrophe is far enough out yet that I'll be dead or so old it won't matter to me much. Not much an average guy can do about it.
 
garyt1957 said:
I've given up thinking it will change and just hope the coming catastrophe is far enough out yet that I'll be dead or so old it won't matter to me much. Not much an average guy can do about it
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I've learned that it's folly to my brain to try comparing household and government budgets. The first and only time the US national debt stood at zero was 1835.

A very smart person once explained to me why that is - in simple terms, government (i.e., the collective of all of us) responsibility is to respond to the needs of the people as they arise, and that usually means running a deficit.

Unfortunately, the US has taken this to ridiculous extremes.
 
StarSong said:
I've learned that it's folly to my brain to try comparing household and government budgets. The first and only time the US national debt stood at zero was 1835.

A very smart person once explained to me why that is - in simple terms, government (i.e., the collective of all of us) responsibility is to respond to the needs of the people as they arise, and that usually means running a deficit.

Unfortunately, the US has taken this to ridiculous extremes.
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I agree about a totally balanced budget and there's plenty of evidence that SOME debt is actually a positive, but I didn't feel like going into all that. Our current debt is ridiculous and inflation is our only likely way out.
 

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