The Economic Collapse of '09 - Economic Apocalypse - Depression and Revolution

You can't print money based on nothing, and you can't spend your way out of this problem, you must produce your way out, were two excellent points made by Glenn Becks guest; he gets it. Too bad out President, Mr. Obama doesn't get it. He also said: The only thing you have in this life is your dignity, and the only thing you leave behind are your words. Of course you leave behind a lot of junk, people who love or hate you, and maybe some videos on Youtube, but his point was that when you are gone, people will only know what you stood for by looking at your work; what you did and said. So you had better mean what you say, and say what you mean.Here's a rookie economic theory that I've had for quite a few years, and it involves China. For the last 20 plus years we have been buying more and more cheap products from China, which caused us to lose high paying jobs. People would then get lower paying jobs, but with the lower cost of goods because of the cheap imports, and with the government supplementing their income with various government programs, they did OK.Part two: The government has been running massive deficits, while at the same time the FED has been pumping massive amounts of money into the economy. One would think that this would cause a lot of inflation. I think the reason that it has not, is because of the cheap imports; they have kept downward pressure on prices. But I think we have reached a saturation point were we have replaced almost everything that used to be manufactured here, with cheap imports, therefore prices will not continue to fall. What will keep inflation down now? And now with all of this money that's being pumped into the economy, I believe that real inflation, and quite possibly hyperinflation, is on the way.Well that's my little theory, its not very well explained, because on top of not being an economist, I'm also not a writer.jbranstetter04Surviving the Coming Economic CollapseThe coming economic collapse I speak of is a meltdown in the value of the USD. This is going to be caused by hyperinflation. Hyperinflation is when the money creator, the Federal Reserve in this case, prints money nonstop and technically goes over 100% inflation rate. This means that at the end of the year, your money will only buy half of what it did at the beginning. It quickly spirals out of control as the government prints more and more and more to cover its obligations which get harder and harder to do because the money gets worth less and more worth less until it is worthless (note the spaces). If you want to see a good example, look at Zimbabwe now, Wiemar Germany post-WW1, and some others. Toilet paper will literally be worth more than a dollars. There will be so much around you will have no problem keeping warm in the winter cause you can burn it. How did we get here? Well, it all started in 1913 with the Federal Reserve Act and creation of the Federal Reserve. The Federal Reserve has the sole ability to print money. Originally, we were still on a gold standard but this officially ended in 1933-35 when FDR outlawed ownership of gold, confiscated gold, and only allowed foreigners to exchange dollars for gold. Then in 1971 Nixon, after all the printing going on to pay for the Vietnam war and to pay for the newly founded welfare society created by LBJ's "Great Society", had printed far more dollars than we could cover at the $35/ounce of gold. He told everyone to basically puck off; youre not getting any gold because we ran out. After that, the inflation really took off. This was because of the deficit spending from the national government for this program and that program and this war and that war and their unwillingness to increase visible taxes because if people knew how much these programs and wars really cost and how ineffective they really are, they might not like the people in government so much and we might have a repeat of 1776. Inflation though, is a hidden tax. It steals not your money, but your purchasing power. If the money supply increases 10%, your money has lost 10% of its power. This is what has caused the steady rise in prices over the decades. The sharp rise in gas is directly caused by inflation since 2001 and it's going to kill the dollar, the life blood of our economy.com/forums/9/to...