Ron Paul is sounding the same alarms as veteran financial investor Peter Schiff. The former presidential candidate has warned that the current stock market is the “biggest bubble in history and it is going to burst.”
The market is in the “biggest bubble in the history of mankind,” and when it bursts, it could cut the stock market in half, he recently told CNBC. “I see trouble ahead, and it originates with too much debt, too much spending,” the former Republican Congressman from Texas said. However, since Paul leans libertarian in political philosophy, he sees that one of the major problems with the market is federal spending and monetary policy which act as dual forces inflating a market bubble.
“The Congress spending and the Federal Reserve manipulation of monetary policy and interest rates — debt is too big, the current account is in bad shape, foreign debt is bad and it’s not going to change,” he said according to Newsweek. “The Fed will keep inflating, and that distorts things,” Paul continued. “Now they’re trying to unwind their balance sheet. I don’t think they’re going to get real far on that. The government will keep spending, and the Fed will keep inflating, and that distorts things,” said Paul. “When you get into a situation like this, the debt has to be eliminated. You have to liquidate the debt and the malinvestment.”
But the government isn’t interested in liquidating any debt or allowing the free market to take control, so we have the biggest bubble in history and it could burst anytime, and the media won’t report on the dangers of the financial situation the government is in. Newsweek reported that the U.S. economy is growing at a 4.5 percent annualized rate in the second quarter following the latest data on strong retail-sales data, the Atlanta Federal Reserve’s GDPNow forecast model showed on Monday.
However, Dr. Paul is not alone in his assessment. Peter Schiff has said numerous times that the state of the economy is far from what the talking heads in the media declare it to be. A lot of seemingly positive economic data came out in early June, but in his most recent podcast, Peter Schiff said it is just feeding into a delusional economic narrative which simply ignores the most fundamental storyline – debt. According to Seeking Alpha, Schiff says that this delusion built on debt is not going to last, and we should all be prepared.
When
don’t know Paranoid – the sooner the better.
There’s blood in the streets I say!!!. SO back up the truck on Silver Bullion. Found a place just .15 cents over spot to buy .999 1 Oz Rounds. And todays drop, I am in again, on the cheap. $15.56. This also ties in with that other article about caschezzz. Get rid of your US Green Backs… Its going down. Protect your assets. 1 year food supply Min. Get all your security tools now. They are your force multipliers. Sharpen all your tools and mower blades and pick up an extra set. 1 is none. Get a good set of files, metal and wood. a grinding wheel. When SHTF what you gots is all you gots and yous ain’t getting any mo.
Well phuck, I hope never. But if it does I hope it hits the day traitors the most.
Infidel,
The traitors screwing us will not be the ones scathed. The little guy always gets screwed. It will be no different than the Wall Street bailouts, but they will do it a different way.
Eat, drink and stack folks. Got TP??
No one knows how this mess pans out in the end. But, one thing’s for sure.. better know yourself, be prepped and at peace.
And don’t let teotwawki turn you into a total nutjob. Just make measured plans to hang on during a weird and rough transition period.
And don’t go bat crap “Rambo” crazy.
Be cool, fools!?. ???
Wait for the durangokiddy to rebut Ron Paul….cos the durangokiddy is always spot on where world finances are concerned.
Between now and the 2020 elections…..it will be Trump’s fault. All by design.
Sheep,
You nailed it pretty good.
We all know the PE ratios are all messed up so a correction is going to happen. TPTB will break it just to get rid of Trump.
A 50% correction is in order. I am prepared for that.
Keep on preparing.
“A 50% correction is in order. I am prepared for that.”
That roughly puts the market back to the high just before the 2008 crash. I’m inclined to think the fall is likely to exceed that. Conversely the ability to re-inflate with QE infinity cannot be discounted. There are no rules or absolutes with fiat currency.
You know, I really like Ron Paul but he is beginning to sound like a broken record. Gloom, doom, gloom, doom, gloom, doom, etc.
He’s been saying this for years now, just like Schiff, and other precious metal dealers. You can’t wipe your butt with gold, silver, etc. Invest in toilet paper and wait for the money to flow in, if and when, this theoretical bubble bursts. Surely there will be plenty of liquid to wipe up.
Toilet paper takes up a huge lot of space, unlike silver. And it needs special protective measures as it burns easily and if it gets wet isn’t worth much anymore.
The absolute best way to keep your portfolio from being wiped out is to not have one.
When 90%+ of that money is from the 1% this won’t affect most of us.
Anybody see the feds dog and pony show today?
Remember Ron Paul asking Greenspan, Is Gold, Money? Greenspan Uhhh ummmm uhhhhhh,, ummm maybe for intrinsic historical value of tradition.
How about that Fraud paper you print big numbers on, like it has any value as its a debt instrument, IOU and call it a dollar. Does God Trust Money? Does God sign off now on endorsement deals now, or is this more fraud by the fed to dupe Christians? In God We Trust. Says who?
“I’ve been rich and I’ve been poor. Rich is better.”
_
But the middle way is best.
The sky is falling. No that’s PM’s. Silver is said to be easier to process and likely to struggle price wise going forward while the dollar is stronger now. I don’t know what to believe. I read that at ZH and most of the comments were negative about buying more.
I read the same thing???
Added a years supply of freeze dried lunches and dinners instead of silver…
Figure I can always eat food, if the SHTF it’d take a lot of silver to get a #10 can from me…
What brand of freeze dried food do you use?
Freeze dried is the most expensive route. You might just outright buy a freeze dryer if going that route. But this fails without power.
The least expensive way is common dehydrated food. The problem is fat goes rancid and is seldom included as it shortens the shelf life. This is why you store fat seperately.
You need some canned food as cooking may not be possible or gathering water.
After you run out of lids and even your reusable lids seem iffy, you most likely will dry your produce in solar dehydrators or even a car that is sealed up in summer. Then smoke hams. Make jerky and ultimately pemmican. And fruit leather. And store stuff in root cellars and springhouses.
A smart prepper reads food labels and takes a calculator and compares food costs versus nutrition. What I think you will find is freeze dried is extremely expensive compared to everything else. It has a niche for backpackers and hunting parties due to low weight.
Tell you what, Hoss. Try to live a week on camping with freeze dried and nothing else. You will feel WEAK due to loss of fat calories.
I’ve never been rich but I definitely agree with B from CA on that “rich is better”. Having am ample supply of electricity in a situation where the world is in the dark would make me feel rich. The money that you spend on ensuring a supply of electricity is money well spent.
Extra mower blades? Some good advice given, but if the SHTF you’re not gonna be wasting your fuel to mow lawns. Even if, by some wild chance, the gas station is still operating, they aren’t going to sell their gas for precious. They can’t pay their bills in silver or gold so they sure as hell won’t accept it as payment for their products.
Maybe you can use PMs in private trade, but even that is debatable since only 1 or 2 percent of individuals consider them as money.
If the financial system crashes FRNs will most likely still be accepted for business by the locals for a good while since that is what they are familiar with.
I do have precious, but I question the utility of it as everyday money if the SHTF.
Off topic but Why hasn’t Peter Fonda been arrested? He crossed the line. advocating kidnapping abduction and targeting ICE employees children isn’t protected by the first Admendment. Maybe they are waiting until the GITMO upgrades are done? any way that what im hopeing?
Off-topic, go somewhere else.
Judging by the news, or more accurately, the lack of news, one would think that there are no wars going on right now. Several thousand US troops in Syria, Iraq, Afghanistan. We are also taking part in wars in Yemen, Niger, Mali, Somalia, Libya. Why the news media misdirection? The media wants to give you your opinion. Question everything.
If you have been thinking about or intending to move out of your current big city environment, you might want to put that at the top of your to-do list. Any big shake up in the economy will 1)Lower the value of your current home or make it impossible to sell 2)Make it much more difficult to borrow/mortgage for the replacement property 3)increase interest rates, and 4)depending on severity, could even tie up cash assets or make travel difficult/impossible. Even non-geniuses are aware we are living in highly perilous times. Alarm bells going off on all fronts.
My transition last year from SoCal to northern Idaho was one of the best and smartest decisions of my life, although the actual accomplishment of it was highly challenging. There are plenty of like minded patriots here, people that are farmers, homesteaders, self sufficient, 2A. Locals are friendly, as long as you’re not a California commie. Even in a worst case scenario, it’s survivable up here.
Better a year early than ten minutes too late. Priorities….
Didi, good move.
Indeed, and thank you. Anyone who is interested in relocating to a safer area can find lots of websites and books with suggestions and data to back up their decision making process. Even on a very tight budget, you can find an affordable place, you just have to try a little harder.
Yep, Ron is right…. but it is useless information without one missing piece. WHEN.
WHEN is the only important piece and the only piece never accurately provided.
You are on your own. Fortunately everyone on this site knows that and is preparing accordingly.
Thanks anyway Ron but we got this.