Workbox
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- Colorado
I have too agree with you. Many are on auto mode.
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Global Economy Bursting?
- Thread starter Austin
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Terrel L. Shields
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- May 2, 2002
- Professional Status
- Certified General Appraiser
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- Arkansas
I recently appraised the farm of a 70 yr old chicken farmer. He lost it. He lost the land with it. He lost another place nearby. All he has left is no IRA, no 401K, and he has a house (saved by the bankruptcy) and a check from SS....what job is going to restore his financial health when his physical health is far from good?
The owner of many small businesses are simply trying to stay afloat until they can draw Social Security and then either walk from their business or sell it for something near what they owe on it. They bought a job, spent decades in their "job" and have nothing to show for it. So of the small town guys would have "made it" but their customers who ran a chit up and then could not pay.
I will give you a simple cascade of events. Milk prices fell and a dairyman could not pay his bill to the feed store. He converted the old family farm to a hay farm. I had lunch with him yesterday. The local feed store owner carried him for years to the tune of $70,000 and the bank financed the conversion along with the sale of the dairy cattle. He did OK and paid maybe $20,000 of the bill until 2011 and the drought. Production dropped by 60%...the bank called the note. He didn't have the money. He sold his place under duress - kept 5 acres and a house - bankruptcy. Sold his equipment and squared that but it still left the man who sold the dairy feed to him hung out to dry as the debt was too old to collect. Handshake biz worked 70 years ago... not now. Another dairyman died and left that same Feedman (3rd generation feed store) another $80,000 loss. All in all, he carried $1,000,000± in uncollected bills over a 20 yr period. The bank called his note in. He lost the store. About 10 people lost their jobs. An Arizona investor ended up with the dairyman's farm. The feed store owner's son lost his house for lack of a job. He is lucky. At least he isn't 60 years old. His father and mother are. "Dad" is doing fertilizer hauling as he has health issues and cannot get a "regular" job. "Mom" at age 55+ went back to school and is now a nurse.
That store plays out everyday in the heart land.... Just take a tour and go thru Small Town, America....the downtown areas are incredibly bare of businesses.
The owner of many small businesses are simply trying to stay afloat until they can draw Social Security and then either walk from their business or sell it for something near what they owe on it. They bought a job, spent decades in their "job" and have nothing to show for it. So of the small town guys would have "made it" but their customers who ran a chit up and then could not pay.
I will give you a simple cascade of events. Milk prices fell and a dairyman could not pay his bill to the feed store. He converted the old family farm to a hay farm. I had lunch with him yesterday. The local feed store owner carried him for years to the tune of $70,000 and the bank financed the conversion along with the sale of the dairy cattle. He did OK and paid maybe $20,000 of the bill until 2011 and the drought. Production dropped by 60%...the bank called the note. He didn't have the money. He sold his place under duress - kept 5 acres and a house - bankruptcy. Sold his equipment and squared that but it still left the man who sold the dairy feed to him hung out to dry as the debt was too old to collect. Handshake biz worked 70 years ago... not now. Another dairyman died and left that same Feedman (3rd generation feed store) another $80,000 loss. All in all, he carried $1,000,000± in uncollected bills over a 20 yr period. The bank called his note in. He lost the store. About 10 people lost their jobs. An Arizona investor ended up with the dairyman's farm. The feed store owner's son lost his house for lack of a job. He is lucky. At least he isn't 60 years old. His father and mother are. "Dad" is doing fertilizer hauling as he has health issues and cannot get a "regular" job. "Mom" at age 55+ went back to school and is now a nurse.
That store plays out everyday in the heart land.... Just take a tour and go thru Small Town, America....the downtown areas are incredibly bare of businesses.
Big ole Boy
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Fake GDP numbers not working
http://www.zerohedge.com/news/2013-...nikkei225-and-other-amusing-overnight-tidbits
Fake GDP numbers not working for Japan
http://www.zerohedge.com/news/2013-...nikkei225-and-other-amusing-overnight-tidbits
Fake GDP numbers not working for Japan
Big ole Boy
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US blocking Iran from buying gold?
http://www.zerohedge.com/news/2013-05-16/petrodollar-petrogold-us-now-trying-cut-irans-access-gold
Iranians going for petrogold instead of petrodollars
http://www.zerohedge.com/news/2013-05-16/petrodollar-petrogold-us-now-trying-cut-irans-access-gold
Iranians going for petrogold instead of petrodollars
Big ole Boy
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Deficits falling - NOT - Biderman explains
http://www.zerohedge.com/news/2013-05-16/biderman-busts-sustainable-deficit-reduction-meme
sorry bulls .....
The Spinach and cake meme. Your cake eaters right now are blowing as much air into that balloon that has holes in it. Except the cake eaters says the balloon has no holes and can continue to expand ad infinitium. The spinach eaters say the balloon has holes and eventually will pop.
As a spinach eater, let me say that the cake eaters are blowing everything they have and will try everything they can to distort reality due to their lack of Vitamin A intake.
The cake eaters are not dishonest, they are just insane and most straw men.
Japan will falter, Charles Biderman is right about the current silly "reducing deficit meme",
Europe is another workshop where caker eaters have been busy a little longer than in the US.
The dip in gold ... is the ghost called "the death of hegemony"
its Bitcoin .... or its Dark Ages ...
its gold ... or its Dark Ages
.... whatever it is ....
.... the Keynesians are pure sociopaths and flesh eaters ..... that eat cake flesh
http://www.zerohedge.com/news/2013-05-16/biderman-busts-sustainable-deficit-reduction-meme
sorry bulls .....
The Spinach and cake meme. Your cake eaters right now are blowing as much air into that balloon that has holes in it. Except the cake eaters says the balloon has no holes and can continue to expand ad infinitium. The spinach eaters say the balloon has holes and eventually will pop.
As a spinach eater, let me say that the cake eaters are blowing everything they have and will try everything they can to distort reality due to their lack of Vitamin A intake.
The cake eaters are not dishonest, they are just insane and most straw men.
Japan will falter, Charles Biderman is right about the current silly "reducing deficit meme",
Europe is another workshop where caker eaters have been busy a little longer than in the US.
The dip in gold ... is the ghost called "the death of hegemony"
its Bitcoin .... or its Dark Ages ...
its gold ... or its Dark Ages
.... whatever it is ....
.... the Keynesians are pure sociopaths and flesh eaters ..... that eat cake flesh
Last edited by a moderator:
nm505
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"Minutes ago, we got the April reading of consumer prices.
Not only did the numbers reflect a complete absence of inflation, they also showed that economists continue to overestimate inflation."
Read more: http://www.businessinsider.com/inflation-surprise-index-negative-2013-5#ixzz2TVw8M8cQ
Not only did the numbers reflect a complete absence of inflation, they also showed that economists continue to overestimate inflation."
Read more: http://www.businessinsider.com/inflation-surprise-index-negative-2013-5#ixzz2TVw8M8cQ
nm505
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- New Mexico
Throughout the market rally, which started in early 2009, haters have argued that the whole thing is a Fed-backed ponzi scheme, and that people are only jumping into stocks because of easy money and dollar debasement, not due to any fundamental reasons.
But that argument has been obliterated in recent months, as a divergence has grown between stocks and commodities.
JSmith43
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In the end, the only thing that matters is Faster Horses, Younger Women, Older Whisky & More Money. Tom T. Hall.
It is a metaphor. We all have things that matter to us. I want prosperity for the country as a whole. This country can get unimaginably dangerous really fast, if and when the currency debasement is considered to be an accomplished fact. Biblical. A thief in the night quick.
And then it will be all about what you've got, what you need, what you can get right now & what you can manage to keep for yourself.
Currency is about trust. Our food shelves will be empty in a day if trust goes the way of trust in government actions toward gun rights.
At this point in time, we can't trust our communication to be private, we cant trust that we will not be singled out for audits by expressing certain views, by use of certain words, like The Constitution. And, we are expected to trust in a dollar that is getting mass produced without a solid link to available goods & services?
The stock market run up is a lesser of evils phenomenon. Where are you going to put 401K money? In a bitcoin IRA?
Fear & desperation has kept demand low. Lots of people are saving up for a rainy day. A share in a tangible company may be better than fiat currency in a bank paying no interest, with the potential of being substantially devalued over night. There will come a time when it will be illegal to speak the truth about such things. It might be now, so I think I'll just back off into the shadows.
It is a metaphor. We all have things that matter to us. I want prosperity for the country as a whole. This country can get unimaginably dangerous really fast, if and when the currency debasement is considered to be an accomplished fact. Biblical. A thief in the night quick.
And then it will be all about what you've got, what you need, what you can get right now & what you can manage to keep for yourself.
Currency is about trust. Our food shelves will be empty in a day if trust goes the way of trust in government actions toward gun rights.
At this point in time, we can't trust our communication to be private, we cant trust that we will not be singled out for audits by expressing certain views, by use of certain words, like The Constitution. And, we are expected to trust in a dollar that is getting mass produced without a solid link to available goods & services?
The stock market run up is a lesser of evils phenomenon. Where are you going to put 401K money? In a bitcoin IRA?
Fear & desperation has kept demand low. Lots of people are saving up for a rainy day. A share in a tangible company may be better than fiat currency in a bank paying no interest, with the potential of being substantially devalued over night. There will come a time when it will be illegal to speak the truth about such things. It might be now, so I think I'll just back off into the shadows.
JSmith43
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- Certified General Appraiser
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- California
I bet there are quite a few appraisers that see the national economies in failure like a building that looks whole & fine until one takes a close look at the foundation. That building might look pretty good in a photo one day, the day before the collapse. Perhaps a little rain swells the clay soil near the eroded foundation.
These national economies have foundations. The Euro, the Dollar, Yen, Yuan, Gold, Silver, Ammo, BitCoin:icon_lol:. Maybe BitCoin is a cry for help.
Debasement of the currency may not get it's full appreciation until the building collapses. We can print guns (I wonder how much the "plastic ink" costs?) but we can't print food.
Remember a "buy gold" commercial featuring a couple going to a bank to cash in their retirement? They get stacks of cut paper handed to them through the counter, without even the courtesy of including a bottle of green ink:laugh: Yes, it's all about trust. Don't put all your trust in one place or thing. Someone famous probably said that.
These national economies have foundations. The Euro, the Dollar, Yen, Yuan, Gold, Silver, Ammo, BitCoin:icon_lol:. Maybe BitCoin is a cry for help.
Debasement of the currency may not get it's full appreciation until the building collapses. We can print guns (I wonder how much the "plastic ink" costs?) but we can't print food.
Remember a "buy gold" commercial featuring a couple going to a bank to cash in their retirement? They get stacks of cut paper handed to them through the counter, without even the courtesy of including a bottle of green ink:laugh: Yes, it's all about trust. Don't put all your trust in one place or thing. Someone famous probably said that.
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