Where do you rate current US economic conditions?

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derryb
derryb Posts: 38,605 ✭✭✭✭✭
edited June 21, 2022 8:38AM in Precious Metals

And feel free to include the DEFCON level you foresee at year's end.

Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

Where do you rate current US economic conditions?

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  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    DEFCON 4 by year's end.

    Why is DEFCON 1 worse than DEFCON 5? Seems it should be the other way around.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • taxmad
    taxmad Posts: 1,198 ✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    Will change my opinion after the midterms...

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    MY VOTE WAS CHANGED TO THE OPPOSITE OF MY UNDERSTANDING OF THE DEFCON SYSTEM. Which poling company is running this show? I hope it isn't Dominion. :p

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • tincup
    tincup Posts: 5,481 ✭✭✭✭✭
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    I'm looking to 'shift' some dollars, but not dump.

    ----- kj
  • tincup
    tincup Posts: 5,481 ✭✭✭✭✭
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    The market beatings today appear to be including nearly everything. Where is one to go?

    ----- kj
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    I'm positioned the way I wanted to be positioned, and I have adequate US dollars set aside, but no more than a somewhat serious medium-sized, medium-duration emergency would require.

    I might go solar, If I'm forced to go that route. If I had stocks or bonds, I'd be tiptoeing out of them as expeditiously as possible, so I'd prefer cash over stocks & bonds at least.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JimTyler
    JimTyler Posts: 4,100 ✭✭✭✭✭
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    Which is the closest to not a damn thing.

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    @tincup said:
    I'm looking to 'shift' some dollars, but not dump.

    shifting from dollars IS dumping dollars.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Meltdown
    Meltdown Posts: 9,283 ✭✭✭✭✭
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    I'm converting some of my coin collection to gold...

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Leprechauns riding unicorns jumping over rainbows. Haha

    Opportunities abound.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    CASH REMAINS KING.

    I do not see an option.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • tincup
    tincup Posts: 5,481 ✭✭✭✭✭
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    Place your bets and throw the dice.

    ----- kj
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
    edited June 13, 2022 11:48AM
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    DEFCON 3 - Looking to dump my dollars

    @OPA said:
    CASH REMAINS KING.

    I do not see an option.

    King cash is "Transitory." When investors get over the fear of falling financial investment prices and realize the FED can't and will not fix the inflation problem there will be a massive rush from hoarding dollars to buying affordable real/hard assets (i.e commodities). PMs will benefit greatly once the curtain is pulled back on the FED's desire/ability to attack the inflation problem.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    @cohodk said:
    Leprechauns riding unicorns jumping over rainbows. Haha

    Opportunities abound.

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    CASH REMAINS KING.

    I do not see an option.

    At least you didn't say stocks & bonds. :*

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Paradisefound
    Paradisefound Posts: 8,623 ✭✭✭✭✭
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    DEFCON 2 - Time to barter my PMs

    Well …. there is no better place to escape except bullions and the train have left the station 🤔
    How about DOLLAR AVERAGING and continue BUYING into THE DIP?
    Good Luck!

    @tincup said:
    The market beatings today appear to be including nearly everything. Where is one to go?

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
    edited June 13, 2022 11:01AM
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    DEFCON 3 - Looking to dump my dollars

    @Paradisefound said:
    Well …. there is no better place to escape except bullions and the train have left the station 🤔
    How about DOLLAR AVERAGING and continue BUYING into THE DIP?
    Good Luck!

    @tincup said:
    The market beatings today appear to be including nearly everything. Where is one to go?

    PMs are a bargain if the FED does not gain control of inflation. Not gonna happen. Raising rates to reduce demand that will result in lower prices can only work temporarily. That new money will remain out there ready to pounce and drive prices up once again. The only real way to cure inflation so is to suck the new trillions of dollars (the root cause of current inflation) out of the system and burn them.

    Does anyone here think the FED can pull it off? Those hoarding dollars have faith. Those buying PMs disagree. I'm buying PMs.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:
    The only real way to cure inflation so is to suck the new trillions of dollars (the root cause of current inflation) out of the system and burn them.

    Does anyone here think the FED can pull it off?

    Two trillion in crypto has been burned. Another 10 trillion in equities. Looks like the Fed is doing a good job

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
    edited June 13, 2022 3:15PM
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    DEFCON 3 - Looking to dump my dollars

    @cohodk said:

    @derryb said:
    The only real way to cure inflation so is to suck the new trillions of dollars (the root cause of current inflation) out of the system and burn them.

    Does anyone here think the FED can pull it off?

    Two trillion in crypto has been burned. Another 10 trillion in equities. Looks like the Fed is doing a good job

    Value of the portfolios got burned, not the dollars that funded them. The dollars involved in both instances are still in existence; they just moved on elsewhere. Removing value does not "burn" dollars no more than an increase in value "creates" dollars. "Burned" dollars have been parked elsewhere, mostly on the sideline until the dust (fear) settles.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • blitzdude
    blitzdude Posts: 7,722 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    @Paradisefound said:
    Well …. there is no better place to escape except bullions and the train have left the station 🤔
    How about DOLLAR AVERAGING and continue BUYING into THE DIP?
    Good Luck!

    @tincup said:
    The market beatings today appear to be including nearly everything. Where is one to go?

    You went away for 3 years and the discussion remains the same. Come back in another decade and I can pretty much guarantee you will hear the exact same conversation. RGDS!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:

    @cohodk said:

    @derryb said:
    The only real way to cure inflation so is to suck the new trillions of dollars (the root cause of current inflation) out of the system and burn them.

    Does anyone here think the FED can pull it off?

    Two trillion in crypto has been burned. Another 10 trillion in equities. Looks like the Fed is doing a good job

    Value of the portfolios got burned, not the dollars that funded them. The dollars involved in both instances are still in existence; they just moved on elsewhere.

    So where they move to?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    I voted 5, though if no effective action in the next few weeks, it will be 3. Cheers, RickO

  • streeter
    streeter Posts: 4,312 ✭✭✭✭✭
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    Economic and political situation currently is as poor as I can remember in the last 50 yrs. Several years ago I sold my 18th and 19th century type and moved to 'collectible' bullion as close to spot as possible. 90% unc, ms64/5 saints, ten libs and indians in 63 and some two & half's and 5's.

    They've had their run. For now.

    I'm very concerned about uncontrolled inflation. If they kill the economy to contain inflation, we're up the river without a paddle.

    The only way to really outrun inflation is to invest in companies that will outrun inflation with growth. Please PM me if you find one.

    Have a nice day
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    @streeter said:

    The only way to really outrun inflation is to invest in companies that will outrun inflation with growth. Please PM me if you find one.

    Commodity ETFs are likely your best bet.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Weiss
    Weiss Posts: 9,942 ✭✭✭✭✭
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    Have we mitigated the pandemic that has interrupted global economies for two years? Has China?
    Is our production beginning to ramp up? Is China's?
    Is employment available? Are wages rising or falling?

    We're seeing inflation for the first time in 30 or 40 years.

    Is the sky falling? Not for me it's not.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Soldi
    Soldi Posts: 2,177 ✭✭✭✭✭
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    @OPA said:
    CASH REMAINS KING.

    I do not see an option.

    You'll find out soon enough that this is ohhh so true and the world 🌎 knows USD is just so.

  • streeter
    streeter Posts: 4,312 ✭✭✭✭✭
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    Thanks DB. I can't pin my hopes on an ETF.

    Say copper, it's crested. Same with aluminum. My next door neighbor has the largest recycling yard in southern California. He recently cleared out his copper back load and sold off two four story piles of aluminum. He knows things I don't. Lynn doesn't sell one pound of anything until it is time.

    Have a nice day
  • morgansforever
    morgansforever Posts: 8,512 ✭✭✭✭✭
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    DEFCON 1 - I'm waiting in a bread line as I type

    I haven't been worse off than right at this moment.

    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • blitzdude
    blitzdude Posts: 7,722 ✭✭✭✭✭
    edited June 14, 2022 6:20PM
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    DEFCON 5 - FED has solved all the problems

    Life goes on. The NetWorth column continues to increase although I don't feel any better off than 15 years ago. Many call it "life in the gutter" after all digits on a spreadsheet don't mean much,,,,,in the real world anyway. LOL RGDS!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • rte592
    rte592 Posts: 2,234 ✭✭✭✭✭
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    I'm going to do what I can to not be in defcon 1

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    Thinking of raising funds to get ready to open positions in stocks like PYPL, NFLX, AMZN, MRNA B)

  • OAKSTAR
    OAKSTAR Posts: 8,770 ✭✭✭✭✭
    edited June 15, 2022 2:07PM
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    @derryb said:
    Where do you rate current US economic conditions?

    This economy is not indirectly affecting my coin hobby, it's "DIRECTLY" affecting my coin hobby!!

    Any questions??

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    DEFCON 5 - FED has solved all the problems

    @OAKSTAR said:

    @derryb said:
    Where do you rate current US economic conditions?

    This economy is not indirectly affecting my coin hobby, it's "DIRECTLY" affecting my coin hobby!!

    Any questions??

    That is an extremely clean toilet so I call fake news as I am sure whomever took that stock photo for alamy fished out those Benjamins :o

  • OAKSTAR
    OAKSTAR Posts: 8,770 ✭✭✭✭✭
    edited June 15, 2022 3:35PM
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    @ErrorsOnCoins said:

    @OAKSTAR said:

    @derryb said:
    Where do you rate current US economic conditions?

    This economy is not indirectly affecting my coin hobby, it's "DIRECTLY" affecting my coin hobby!!

    Any questions??

    That is an extremely clean toilet so I call fake news as I am sure whomever took that stock photo for alamy fished out those Benjamins :o

    But you get my point!

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    @ErrorsOnCoins said:

    @OAKSTAR said:

    @derryb said:
    Where do you rate current US economic conditions?

    This economy is not indirectly affecting my coin hobby, it's "DIRECTLY" affecting my coin hobby!!

    Any questions??

    That is an extremely clean toilet so I call fake news as I am sure whomever took that stock photo for alamy fished out those Benjamins :o

    Thanks for sharing that with us. :D

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • OAKSTAR
    OAKSTAR Posts: 8,770 ✭✭✭✭✭
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    @derryb said:
    Where do you rate current US economic conditions?

    The COVID shutdown was an intentional controlled destruction of our economy.

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • meluaufeet
    meluaufeet Posts: 768 ✭✭✭
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    None of the above.

  • jdimmick
    jdimmick Posts: 9,992 ✭✭✭✭✭
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    I'm personally fine, but several of the folks that come in to sell are now struggling. A year or so ago, several people that used to come into sell, didnt come, as they were swimming in fee money. Even bragging at times, some folks bragged on getting covid loan money they didnt have to pay back. Several reports I heard that they even bought boats, cars, mountain cabins etc. (Govm't should of done a better job of how that money was dispersed)
    Now, for many that money has evaporated and they are coming into sell again talking about gas, food prices, rent, etc. being too high. also, several of the newbies who had jumped onto the silver & gold market the past year or so waiting for the big rise, are actually cashing in, tired of waiting, when they can now use the funds elsewhere.

  • OAKSTAR
    OAKSTAR Posts: 8,770 ✭✭✭✭✭
    edited June 16, 2022 7:25AM
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    Today's opening down 600 points!!

    I'm getting crushed!! My 401k is now 201k!!

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • carew4me
    carew4me Posts: 3,667 ✭✭✭✭
    edited June 16, 2022 7:20AM
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    This is the economy in 3D! *

    3D: Democrats control all 3 branches of government


    Loves me some shiny!

    “Often wrong, but never in doubt.”
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    @carew4me said:
    This is the economy in 3D! *

    3D: Democrats control all 3 branches of government

    Not true. There are three branches of government---Executive, Legislative, and Judicial. The democrats only control the first two.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • ShadyDave
    ShadyDave Posts: 2,218 ✭✭✭✭✭
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    Markets have a long way to go before they bottom. Between stocks dropping, housing coming to a crashing halt (housing makes up 20% of the economy), gas/energy prices going doubling, continued interest rate hikes of 50-75bps in 2022, things are getting more expensive really fast. Layoffs are increasing and consumer spending will evaporate (per Barclays, its already started).

    Buckle up and keep some cash handy to buy up healthy companies with real earnings when they seem attractively priced to you: MSFT, HD, AMD, ENPH, XOM, CVS and RTX to name a few.

    Luckily my wife and I have stable jobs and are financially sound, so the increased consumer prices and stock market dropping hasn't had much affect on us at this point. I feel awful seeing neighbors struggling to pay heating/electricity/food bills.

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    DEFCON 3 - Looking to dump my dollars

    Keep in mind that higher rates don't directly attack inflation, they attack the debt that consumers can acquire which lowers demand and thus prices. When higher rates sink the economy and Washington decides its time for more free money, the higher rate attempt will have been in vain. These people are pulling at straws. If they knew what the were doing they would not have created inflation in the first place.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • jclovescoins
    jclovescoins Posts: 2,038 ✭✭✭✭✭
    Options
    DEFCON 2 - Time to barter my PMs

    @blitzdude said:
    Life goes on. The NetWorth column continues to increase although I don't feel any better off than 15 years ago. Many call it "life in the gutter" after all digits on a spreadsheet don't mean much,,,,,in the real world anyway. LOL RGDS!

    increasing net worth in the last 9 months is quite the feat....you must either have a lot of real estate, no investments in the stock market, or be shorting everything lol

  • blitzdude
    blitzdude Posts: 7,722 ✭✭✭✭✭
    Options
    DEFCON 5 - FED has solved all the problems

    @jclovescoins said:

    @blitzdude said:
    Life goes on. The NetWorth column continues to increase although I don't feel any better off than 15 years ago. Many call it "life in the gutter" after all digits on a spreadsheet don't mean much,,,,,in the real world anyway. LOL RGDS!

    increasing net worth in the last 9 months is quite the feat....you must either have a lot of real estate, no investments in the stock market, or be shorting everything lol

    Or buying a shitetonne of oil and every other commodity stock up until 2-3 days ago. LULZ!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • jclovescoins
    jclovescoins Posts: 2,038 ✭✭✭✭✭
    Options
    DEFCON 2 - Time to barter my PMs

    @blitzdude said:

    @jclovescoins said:

    @blitzdude said:
    Life goes on. The NetWorth column continues to increase although I don't feel any better off than 15 years ago. Many call it "life in the gutter" after all digits on a spreadsheet don't mean much,,,,,in the real world anyway. LOL RGDS!

    increasing net worth in the last 9 months is quite the feat....you must either have a lot of real estate, no investments in the stock market, or be shorting everything lol

    Or buying a shitetonne of oil and every other commodity stock up until 2-3 days ago. LULZ!

    True. If that’s all or most of what you have. As long as commodity isn’t silver lol

  • blitzdude
    blitzdude Posts: 7,722 ✭✭✭✭✭
    edited June 16, 2022 4:59PM
    Options
    DEFCON 5 - FED has solved all the problems

    @jclovescoins said:

    @blitzdude said:

    @jclovescoins said:

    @blitzdude said:
    Life goes on. The NetWorth column continues to increase although I don't feel any better off than 15 years ago. Many call it "life in the gutter" after all digits on a spreadsheet don't mean much,,,,,in the real world anyway. LOL RGDS!

    increasing net worth in the last 9 months is quite the feat....you must either have a lot of real estate, no investments in the stock market, or be shorting everything lol

    Or buying a shitetonne of oil and every other commodity stock up until 2-3 days ago. LULZ!

    True. If that’s all or most of what you have. As long as commodity isn’t silver lol

    LOL, you're preaching to the choir brother!

    EDIT: When I say commodity I'm stuck in what people actually use to live by, be it wheat, oil, natural gas, pork bellies, soybeans, aluminum. lead, etc. Silver and even it pains me to say GOLD (my first love) were once considered "relevant" commodities. It appears not so much in the sheeples year of 2022.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • PCGS_SocialMedia
    PCGS_SocialMedia Posts: 327 ✭✭✭✭✭
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    This is obviously a topic that comes with strong feelings. Please try to keep the rules regarding language and politics in mind so that the thread can remain open. Thank you.

  • meluaufeet
    meluaufeet Posts: 768 ✭✭✭
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    And KBA is looking up the next couple of quarters.

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