Erin or any other psychics care to comment on this?

[JSB]

From another thread:

Paranoid -- Is a Global Economic Disaster Beginning Next Month?

[Erin Pavlina]

Funny you should ask. I've been preparing for an economic catastrophe for the last couple of years and recently decided to stockpile some food. A catastrophe is not a done deal, in other words, I couldnt make an accurate prediction. But I do feel a strong "need" to prepare for the worst and hope for the best.

Recently another friend with a strong financial background told me we probably have nothing to worry about and he explained why though I could never repeat it here as I didn't grasp it fully, I only know i trust the dude's insights.

So bottom line... I do feel strong urges and nudgings to stockpile food, ammunition, gold, and learn how to garden. But I don't know if they're coming from the guides or my fear.

I think it doesn't hurt to hedge your bet a little.

[Summerbreeze]

Relax, you ruin the game lol !


~sb

[JSB]

I think you are certainly wise to do so. In the long run, our society is due for a shakeup as vital resources (oil and water especially) become less available and more expensive, and as climate changes affect agriculture.

It would be a tragedy if this disruption were accelerated and exacerbated by shortsighted political ambition and fiscal stupidity.

Originally Posted by Erin Pavlina

Funny you should ask. I've been preparing for an economic catastrophe for the last couple of years and recently decided to stockpile some food. A catastrophe is not a done deal, in other words, I couldnt make an accurate prediction. But I do feel a strong "need" to prepare for the worst and hope for the best.

Recently another friend with a strong financial background told me we probably have nothing to worry about and he explained why though I could never repeat it here as I didn't grasp it fully, I only know i trust the dude's insights.

So bottom line... I do feel strong urges and nudgings to stockpile food, ammunition, gold, and learn how to garden. But I don't know if they're coming from the guides or my fear.

I think it doesn't hurt to hedge your bet a little.

[NDavid]

Originally Posted by Erin Pavlina

I do feel strong urges and nudgings to stockpile food, ammunition, gold, and learn how to garden. But I don't know if they're coming from the guides or my fear.

heya Erin, if you're not sure, why not just ask them?

[Erin Pavlina]

I have. They don't know. The future is not set in stone. Depending on the actions of many people (who have free will) the outcome may be different.

[veloci]

Nations world-wide have become dependent on one another for so long unhealthily that if one nation goes kaput, many if not all, other will be severely affected in one way or another.

If USA goes down, the amassed debt will bring down many other "powerful" nations that are extremely dependent on good ol' US Americans. It is highly improbable that they will let us fall because it will mean severe consequences for them. I hate to say it but hey, trying to play friends with greed in mind makes both sides liabilities in the end for each other.

[JSB]

A default isn't necessarily about the US economy "failing", since it would be a default by choice, i.e. the US has the ability to pay its debts but would default based on a political stalemate between the President and Congress. Treasury Bonds would lose their AAA rating, interest rates would soar, and the dollar would experience double digit inflation.

Now all of these things would cause economic damage and have very painful consequences, but it's not the same as an outright complete economic collapse a la Zimbabwe. The US is the world's largest food producer for one, and food exports would not lessen (they might even increase if a weak dollar makes importing US grain/soy/corn cheaper for other nations).

But I doubt the rest of the world could do anything to save the US economy, especially when the global system is still so shaky, and given the fact that the default would be a willful refusal to pay debts, it's not like a debt restructuring offer could be introduced. Everyone would have to wait for the crybabies in Washington to get their act together and pay their legally accrued debts.

I see the greatest danger being the slippery slope, where short term economic hardship triggers geopolitical unrest and power shifting, which in turn triggers greater economic disruption, etc., the end result being far greater strife poverty and hardship throughout the world.

Originally Posted by veloci

Nations world-wide have become dependent on one another for so long unhealthily that if one nation goes kaput, many if not all, other will be severely affected in one way or another.

If USA goes down, the amassed debt will bring down many other "powerful" nations that are extremely dependent on good ol' US Americans. It is highly improbable that they will let us fall because it will mean severe consequences for them. I hate to say it but hey, trying to play friends with greed in mind makes both sides liabilities in the end for each other.