The truth about rising gas prices, the stock market, & Warren Buffett's taxes

Discussion in 'Economics & Trade' started by DA60, Feb 28, 2012.

  1. DA60

    DA60 Banned

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    [ame="http://www.youtube.com/watch?v=eQYy25kLijA&feature=g-u-u&context=G2f7dc6eFUAAAAAAAAAA"]The truth about rising gas prices, the stock market, & Warren Buffett's taxes - YouTube[/ame]
     
  2. DA60

    DA60 Banned

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    I especially like his comments about gas prices and the stock market.
     
  3. Trinnity

    Trinnity Banned

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    Have you seen Obama's latest budget proposal?
    Spend, spend, spend!!!
     
  4. raymondo

    raymondo Banned

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    Uck Warren from my point of view . That is primarily an internal US Tax matter .
    But the first half was solid . What I would have liked him to do was finish the argument .
    He showed -- as we know -- how Gov't spending is the driver behind inflation but he was not man enough to address the situation of them cutting back hugely on spending and printing new money .
    That also leads to a death scenario , and supports the point which I preach ad nauseam -- there is no way to stop a humungus crash -- just a single way of delaying it awhile
     
  5. raymondo

    raymondo Banned

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    It's the Death Spiral .
    Poor guy , Buggered whatever he does .
     
  6. bacardi

    bacardi New Member

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    as congress spend spend spend, I buy buy buy.....gold that is :)
     
  7. Drago

    Drago Well-Known Member

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    People don't get the currency crisis that is inevitable. It's a race to the bottom because the current reserve is the dollar, and its going to fall.
     
  8. bacardi

    bacardi New Member

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    yet the fools still hold dollars instead of gold :)
     
  9. headhawg7

    headhawg7 Well-Known Member

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    That is just it.....it is too late now to do anything about it because what needs to happen would cause a collapse worse than 1929. However...if nothing is done it will be even worse. It is truly a (*)(*)(*)(*)ed if you do...(*)(*)(*)(*)ed if you don't scenario. The politicians are kicking the can down the road so it doesn't happen on their watch. Any smart politician would NOT want to be the president when it happens. I know I wouldn't because he will be forever linked with total collapse of the dollar.

    I am shocked more people haven't picked up on what is coming. It is not like the corporate owned media are going to send you a warning. You are not going to get a message via the emergency alert system....that the dollar is about to crash. It will just happen...AFTER all the people in the know have converted their dollars and other paper assets into hard assets such as gold and land and probably out of the country.
     
  10. waltky

    waltky Well-Known Member

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    Inflation rearin' its ugly head...
    :mad:
    Gasoline pushes up US inflation, dents confidence
    Fri Mar 16, 2012 * Consumer prices up 0.4 pct, largest rise in 10 months * Gasoline accounts for more than 80 pct of CPI rise * Core CPI muted, showing lack of broad price pressure * Consumer confidence slips in early March on gasoline
    See also:

    Inflation: Not as low as you think
    February 29, 2012 - Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.
     
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  11. Drago

    Drago Well-Known Member

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    Yep, but it's the mindset that it can't happen in the US. They are going to kick this can down the road as far as they can. I'm not sure when that will stop, but probably within the next five years. The fed can't raise interest rates now, it will bankrupt the banks and the US govt. They just don't say that cause it will freak people out. They just say they will keep rates low through AT LEAST 2014.

    The only thing that is keeping the dollar as the world reserve currency is oil. When other countries start trading oil in currencies other than the dollar, the dollar then sees its ultimate fall. Look into, China is already negotiating to do this by 2014.
     
  12. bacardi

    bacardi New Member

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    the bric nations have already started the ball rolling on that. They want the US dollar removed as the reserve currency and with good reason...they are tired of always having to bail out the US in order to maintain the dollar peg!
     
  13. Jiggs Casey

    Jiggs Casey New Member

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    demand (in this case, for cheap oil) has outstripped supply, as predicted for decades... that is why our credit bubble became completely unsustainable.... period, end of story.

    slapping partisan, ideological rationalizations on a geological issue is really laughable.

    some of you blind-faith financial disciples need to - for once in your life - accept the fact that economics is a soft science, and that energy dictates to the markets... not the other way around.
     
  14. Til the Last Drop

    Til the Last Drop Well-Known Member Past Donor

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    If there was some nightmare crash, ammo, alcohol and tobacco would be more valuable than gold. At least in America. Valuing gold over the dollar is only relevant if you expect commerce to return one day. Highly unlikely.
     
  15. bacardi

    bacardi New Member

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    things may get ugly for a few years but sooner or later commerce always returns!
     
  16. Til the Last Drop

    Til the Last Drop Well-Known Member Past Donor

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    It might be better if it didn't. You have 2 kids fighting over a brownie, one starts to get the upper hand, so the 2nd kid spits on the brownie. 1st kid doesn't want it any more. 2nd kid willing to eat his own spit.

    If things got really ugly, the super wealthy who pimp America would move away. The farther they are from the easily bribed state, the better. Not to mention globalism is code for world wide socialism. If America falls, they will move on to the next richest nations and use them for the sake of the rest. With all eyes off us, with those who are part of the regime no longer Americans, we could slowly rebuild our wealth and empire, while getting nationalists into control of the state, and reworking the nation to the point if the globalists return they will no longer have a system with the integrity of silly putty to manipulate, and a public who are educated against their ilk. Basically, we must die to get the vampire to move on, and return with a neck guard made of steel.
     
  17. parcus

    parcus New Member

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    You leftists have no idea why those things are cheap, gold expensive and why that relation is not likely to change any time soon often failing to understand that there is no set in stone intrinsic value in a good (a leftist would actually believe he was rich if he found himself in an "earth" with abundant gold). But I want to focus on the "commerce returning is unlikely" part. The idea that commerce depends on dollar, gold, silver or any other specific commodity is just plain wrong: as long as you have something you can trade (including your labor), you can sell that good and buy others. People from different cities and countries will thus continue to exchange goods between themselves, as they don't depend on dolars/ gold/ silver to make any transactions.
     
  18. Drago

    Drago Well-Known Member

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    You forgot food and water, but this is all worst case scenario. I don't see it getting this bad, but you absolutely have to be prepared for it.
     
  19. Til the Last Drop

    Til the Last Drop Well-Known Member Past Donor

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    You leftists? Um.....that's funny. The reason I said ammo, alcohol or tobacco is for trade. If (*)(*)(*)(*) goes back to the stone age who is going to give a (*)(*)(*)(*) about gold? So I can sit on it? Can't drink it. Can't eat it. I'm from Idaho. We can grow food and boil water abundant. Alcohol, ammo, and tobacco will be what you want stored up to get the little luxuries off of someone. Gold is only good for saving your value of wealth before a crash, to return to same worth when things normalize. It has little to no value during crunch time.
     
  20. parcus

    parcus New Member

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    How hard do you think it is to produce tobacco, alcohol and ammo? It is simple, not much. Tobacco and alcohol people can produce in their backyard. Ammo may require a bit more complex production, but it is still cheap to produce. You are just ignoring the fact that those things are cheap because they are easy to produce, just like food and water. Just because you don't understand well the steps needed to produce them, that does not mean they are any harder to produce. Gold, on the other hand, has a very limited supply and people value it a lot. If the day comes alcohol, tobacco or food gets hard to come by (pretty unlikely without a major war or a huge natural disaster), gold will certainly loose value proportionally to the scarcity of those goods, it is simple as that.
     
  21. Til the Last Drop

    Til the Last Drop Well-Known Member Past Donor

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    Even in the hills, the majority aren't landowners, and no one will be allowed to squat. Far more people own guns then know how or have the equipment to produce their shells. Far more people drink than have the know how and/or equipment to make moonshine. And who in the hell has tobacco seeds? Maybe you're from someplace it grows wild. It doesn't round here. If times got real bad the average person will be able to get squat with gold. All it takes is one hard day for you and yours and you'd trade all that gold for a loaf of bread. LOL
     
  22. bacardi

    bacardi New Member

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    all you can do is prepare.....if things get really bad then nothing you can do......but how foolish would you feel if there is a shortage of food and you did not prepare by storing perhaps 30 days supply?
     
  23. Drago

    Drago Well-Known Member

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    Well, you are wrong. If anything major happened that stopped any semi supply, grocery stores would be run dry within a couple days. Ammo would be just as quick. Gold and silver become, as well as food, bartering tools at this point, especially if this situation lasts for more than days.
     

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