I'm not as smart as all you educated brothers so I just go by what I see.
I have no friends who are out of work Most everyone I know has at least two cars Everyone I know has at least one color TV I have one friend who rents, everyone else owns a home I see the sky criscrossed with vapor trails and the airports are full I rarely see a car over 10 yrs old on the highway Our local malls are jammed Our highways are jammed Our local colleges are crammed with students I have never in my life of 64yrs seen one person die of starvation I have never seen one person who can't get into public housing I never seen one person denied hospitalization because on inability to pay I have never seen one person denied a lawyer because of inability to pay I see people sneaking into this country but I have never heard of a single nonfugitive American sneaking out of this country
<< The Social Security cost-of-living adjustment for payments beginning January 2008 is 2.3 percent.
How many here believe that the cost of living has only gone up 2.3 percent in the past year? >>
Not with the price of oil, gas, and transportation going up as much as it has! >>
Again, let's not forget that with the stable or declinging imputed rent anchoring 40-50% of the CPI (hint....rent price went down the last few years and are only now possibly starting to go up) it is very change resistant. You need a massive change from food, education, and energy to outweigh the constant or falling price inputs of imputed rent, appliances, cars, computers, and clothes.
For once, and possibly just this once I agree with Pharmer. Tons of money will be coming to the boomer generation as inheritances are being passed along and 401K's being tapped. There will be lots of money, and it will all be needed. This is one of the few (or only) positive factors in the current economy. How this factors in will be the wild card for the next 5-10 years. Will it make up for the $ Trillions the banks are gonna lose? I tend to think not.
I don't expect people to act on things I write here. I just state that information that I am aware of. React upon it as you wish. The people that know me are quite aware that I do what I say. If you want an honest opinion I'll give it my best. No alterior motives. What you see is what you get. A person's reputation is everything. And maintaining that has cost me far more money over the past 30 years than any profit I have ever made. Being scrupulously honest in this biz usually does not lead to success. Think long and hard about that. Those that know me are well aware of my 90% axioms which tend to neatly sum up our "hobby."
<< <i>I was not collecting during the last recession of 1990. I was wondering, in a recession how does the coin market hold up? I believe this country is in the worst economic shape in it's history and a doozie of a recession, if not a depression is about to hit. During times like these, I would think the coin market would be hit hard, as many folks would have to part with their coins for cash needs, thus depressing prices.
I believe gold is going to well north of $1500, so I am not concerned about my gold coins. >>
Are you going to sell your non gold coins if there is a recession/depression? Answer that and I think you answered your question.
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
Theump asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery. Just goes to show you, theump... Don't (necessarily) trust everything you read. Deceivers and "rattlers" abound, I guess, just about anywhere you go. As to your question, it is a complex issue. There are several possible manifestations and phases to a potential deep recession/depression. But I totally agree with you, a full-blown depression is not only possible, it is PROBABLE at this point in time. Whether bozo-the-clown might want to believe it or not, our country is BROKE and we are headed for MAJOR ECONOMIC CALAMITY!
I believe tangible assets (such as collectible coins) will thrive for awhile in the (current) inflationary phase; because people will be trading for any kind of hard asset to get out of the dollar. However, when we get to the truly depressionary phase (or hyper-inflationary phase), wherein large masses of people start having trouble raising enough money for food and shelter (we are beginning to see that even now, with the housing debacle), then most all investments (and hard assets) will have trouble finding a market. When will that be? Only God knows. I would suggest selling the things you don't want to keep long-term now and for the next couple of years, while the market is still viable. Hold on to your long-term gold and estate item collectibles though (if you can). The politically-brainwashed don't want to hear it, but economically we're headed for a BIG FALL in this country... like the old Roman empire.
********************************* Fiat money is wonderful stuff when everybody believes in it... watch out when the house of cards starts to crumble though.
"Theump asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery."
All of which is linked, dude, to original source material. Where are the links to back you and theump upThe rest of what you wrote was refuted before you even wrote it.
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
"Source" material from the BLS is pretty much summed up by removing the letter "L."
I guess the sheeple will follow whatever stats come out of the Bureau of Laughable Statistics.
I do have friends who are out of work. Some on this board. Most everyone I know pays on their home -they do not own it. I see the sky criscrossed with vapor trails - patrolling military jets I routinely see cars over 10 yrs old on the highway - my own car is over 10 years old now (lol). 193K miles and very reliable since I bought it in 2001 at 29,000 miles for $5000. Our local strip malls are empty and up for sale. Our highways are jammed - but that's because there are 2 lanes for 4 lanes of traffic. A system right from the 1950's. Our local colleges are crammed with students - that will be paying off their loans for 20 years.
Well, I have some friends who were out of work for a little while, but are since working again - (one of them in particular I am thinking of) I told about a job opening I had heard of and connected with a third friend over. He went, applied and got it and has been there 3 years now - doing well and paid better than he was getting before. Such is life sometimes, and I felt pretty good for him and me on that one.
<< <i><EM>Theump<EM> asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery. Just goes to show you, <EM>theump<EM>... Don't (necessarily) trust everything you read. Deceivers and "rattlers" abound, I guess, just about anywhere you go. As to your question, it is a complex issue. There are several possible manifestations and phases to a potential deep recession/depression. But I totally agree with you, a full-blown depression is not only possible, it is PROBABLE at this point in time. Whether bozo-the-clown might want to believe it or not, our country is BROKE and we are headed for MAJOR ECONOMIC CALAMITY!
I believe tangible assets (such as collectible coins) will thrive for awhile in the (current) inflationary phase; because people will be trading for any kind of hard asset to get out of the dollar. However, when we get to the truly depressionary phase (or hyper-inflationary phase), wherein large masses of people start having trouble raising enough money for food and shelter (we are beginning to see that even now, with the housing debacle), then most all investments (and hard assets) will have trouble finding a market. When will that be? Only God knows. I would suggest selling the things you don't want to keep long-term now and for the next couple of years, while the market is still viable. Hold on to your long-term gold and estate item collectibles though (if you can). The politically-brainwashed don't want to hear it, but economically we're headed for a BIG FALL in this country... like the old Roman empire.
Thanks for your response. But, I wonder, when the "it" really hits the fans, will anyone really care about rare Morgans or rare Mercs beyond their silver value? But, I guess a few will be snapping up those deals if they should become available.
<< <i>"Theump asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery."
All of which is linked, dude, to original source material. Where are the links to back you and theump upThe rest of what you wrote was refuted before you even wrote it. >>
Oh please, you are showing generic type of horsesh1t articles about how great things are. If you want I can link to 100's of negative articles.
Is it possible for even the dullest dullard to realize he vomits only on certain facts he chooses not to see, even while fervently embracing the snake oil salesman telling him just what he wants so desperately to believe?
This economy is similar to the late 1970's when oil price increases caused double digit inflation. Coins have always gone up in value during inflationary times. Hold on to your coins!
Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
<< <i>"I believe this country is in the worst economic shape in it's history"
Specifics? Like jobs, GDP, inflation figures? >>
1. First and foremost the housing situation 2. Runaway inflation (oil, commodities) 3. Lack of leadership 4. National Debt 5. Slowing economy 6. Falling dollar 7. Derivative situation at the banks and brokers/credit cruch 8. Falling interest rate/deflationary spiral (stagflation)
I expect all these problems to get much worse before they get better. >>
and dont forget moral decay - this country is relatively a young nation and sorry to say heading down the tubes fast - society as a whole is breaking down - YES, we need a leader and I dont see that happening - the political landscape in this country, IMO, is hurting big-time - hate to be doom and gloom, but it's all around us - just lead your life the best you can and hope that things will turn around.
currently putting together a EF/AU/BU 18th & 19th Century Type Set; and CC Morgan Set
just completed 3d tour to Iraq and retired after 28+ years in the US Army
"By the same token, I don't think any serious observer doubts that the policies the Democrats want to adopt will damage the economy. The Democrats want higher taxes:"
I personally think that much of the problem with the housing industry is directly related to the democrats winning both houses of congress in the last election.
They are refusing to reup the bush tax cuts and that bascally means they are creating a massive back door capital gains increase.
Which in turn will create lower housing prices.
And of course they know this, and they are doing it on purpose.
The democrats have learned to use the capital gains cuts/increases as a political weapon.
The democrats are trying to create a recession, so they can blame it on Bush.
Coins will hold up in a stagflationary recession (ie 1974-1980). They will not however hold up well at all in a non-inflationary recession (ie 1990-1993). They didn't do well in the great depression either though gold and gold stocks did quite well comparatively.
Pick your type of recession and then place your bets.
So a couple years of stagflation coupled with the 100th anniversary of the Lincoln cent should REALLY give Lincolns a price boost in the coming months, right?
"Coin collecting problem"? What "coin collecting problem"?
I'm not going to waste my time searching for media B.S charts and so called experts trying to tell me everything is ok. I will go off hard facts gathered from real life experience.
1) Oil at a new record high even adjusted for inflation 2) Gas at a new high. Diesel fuel now at 3.70 a gallon. How long before thats passed on to the consumer?????? 3) Both of those reached with new data released from the Gov saying supplies of both rose at close to record levels when has that ever happened. Inventories rise above the speculators expectations and the price for both RISE 4) A gallon of milk now cost 4.25 compared to 2.89 a year ago. A dozen eggs doubled in the last 3 months 5) Wheat futures at a all time high. Corn prices rising due to the Ethenol craze 6) Farmers and Meat processors saying higher prices are coming because of the record prices for corn based feed 7) 12 billion a month to be spent on the war in Iraq 8) Employee pay lagging behind rate of inflation 9) Home prices and old and new home sales declining by record percents 10) I do not care what any economist or the idiot President tries to tell me. I live in the real world. I have seen my monthly expenses for fuel and groceries close to double in the past year 11) The reason people are still buying flat screens and driving the big SUV's and filling up the over priced food joints would be most are now dual income families.
So go ahead and quote your news articles. Try going out in the real world
<< <i>I'm not going to waste my time searching for media B.S charts and so called experts trying to tell me everything is ok. I will go off hard facts gathered from real life experience.
1) Oil at a new record high even adjusted for inflation 2) Gas at a new high. Diesel fuel now at 3.70 a gallon. How long before thats passed on to the consumer?????? 3) Both of those reached with new data released from the Gov saying supplies of both rose at close to record levels when has that ever happened. Inventories rise above the speculators expectations and the price for both RISE 4) A gallon of milk now cost 4.25 compared to 2.89 a year ago. A dozen eggs doubled in the last 3 months 5) Wheat futures at a all time high. Corn prices rising due to the Ethenol craze 6) Farmers and Meat processors saying higher prices are coming because of the record prices for corn based feed 7) 12 billion a month to be spent on the war in Iraq 8) Employee pay lagging behind rate of inflation 9) Home prices and old and new home sales declining by record percents 10) I do not care what any economist or the idiot President tries to tell me. I live in the real world. I have seen my monthly expenses for fuel and groceries close to double in the past year 11) The reason people are still buying flat screens and driving the big SUV's and filling up the over priced food joints would be most are now dual income families.
So go ahead and quote your news articles. Try going out in the real world >>
Man, if that doesn't sum it up, i don't know what does!?
<< <i>"I believe this country is in the worst economic shape in it's history"
Specifics? Like jobs, GDP, inflation figures? >>
1. First and foremost the housing situation 2. Runaway inflation (oil, commodities) 3. Lack of leadership 4. National Debt 5. Slowing economy 6. Falling dollar 7. Derivative situation at the banks and brokers/credit cruch 8. Falling interest rate/deflationary spiral (stagflation)
I expect all these problems to get much worse before they get better. >>
Also you could add in personal debt and lack of personal savings.
Collecting coins, medals and currency featuring "The Sower"
Comments
I'm not as smart as all you educated brothers so I just go by what I see.
I have no friends who are out of work
Most everyone I know has at least two cars
Everyone I know has at least one color TV
I have one friend who rents, everyone else owns a home
I see the sky criscrossed with vapor trails and the airports are full
I rarely see a car over 10 yrs old on the highway
Our local malls are jammed
Our highways are jammed
Our local colleges are crammed with students
I have never in my life of 64yrs seen one person die of starvation
I have never seen one person who can't get into public housing
I never seen one person denied hospitalization because on inability to pay
I have never seen one person denied a lawyer because of inability to pay
I see people sneaking into this country but I have never heard of a single nonfugitive American sneaking out of this country
How many here believe that the cost of living has only gone up 2.3 percent in the past year? >>
Not with the price of oil, gas, and transportation going up as much as it has! >>
Again, let's not forget that with the stable or declinging imputed rent anchoring 40-50% of the CPI (hint....rent price went down the last few years and are only now possibly starting to go up) it is very change resistant. You need a massive change from food, education, and energy to outweigh the constant or falling price inputs of imputed rent, appliances, cars, computers, and clothes.
For once, and possibly just this once I agree with Pharmer. Tons of money will be coming to the boomer generation as inheritances are being passed along and 401K's being tapped. There will be lots of money, and it will all be needed. This is one of the few (or only) positive factors in the current economy. How this factors in will be the wild card for the next 5-10 years. Will it make up for the $ Trillions the banks are gonna lose? I tend to think not.
I don't expect people to act on things I write here. I just state that information that I am aware of. React upon it as you wish. The people that know me are quite aware that I do what I say. If you want an honest opinion I'll give it my best. No alterior motives.
What you see is what you get. A person's reputation is everything.
And maintaining that has cost me far more money over the past 30 years than any profit I have ever made. Being scrupulously honest in this biz usually does not lead to success. Think long and hard about that. Those that know me are well aware of my 90% axioms which tend to neatly sum up our "hobby."
roadrunner
<< <i>I was not collecting during the last recession of 1990. I was wondering, in a recession how does the coin market hold up? I believe this country is in the worst economic shape in it's history and a doozie of a recession, if not a depression is about to hit. During times like these, I would think the coin market would be hit hard, as many folks would have to part with their coins for cash needs, thus depressing prices.
I believe gold is going to well north of $1500, so I am not concerned about my gold coins. >>
Are you going to sell your non gold coins if there is a recession/depression? Answer that and I think you answered your question.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I believe tangible assets (such as collectible coins) will thrive for awhile in the (current) inflationary phase; because people will be trading for any kind of hard asset to get out of the dollar. However, when we get to the truly depressionary phase (or hyper-inflationary phase), wherein large masses of people start having trouble raising enough money for food and shelter (we are beginning to see that even now, with the housing debacle), then most all investments (and hard assets) will have trouble finding a market. When will that be? Only God knows. I would suggest selling the things you don't want to keep long-term now and for the next couple of years, while the market is still viable. Hold on to your long-term gold and estate item collectibles though (if you can). The politically-brainwashed don't want to hear it, but economically we're headed for a BIG FALL in this country... like the old Roman empire.
*********************************
Fiat money is wonderful stuff when everybody believes in it... watch out when the house of cards starts to crumble though.
All of which is linked, dude, to original source material. Where are the links to back you and theump up
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
I guess the sheeple will follow whatever stats come out of the Bureau of Laughable Statistics.
I do have friends who are out of work. Some on this board.
Most everyone I know pays on their home -they do not own it.
I see the sky criscrossed with vapor trails - patrolling military jets
I routinely see cars over 10 yrs old on the highway - my own car is
over 10 years old now (lol). 193K miles and very reliable
since I bought it in 2001 at 29,000 miles for $5000.
Our local strip malls are empty and up for sale.
Our highways are jammed - but that's because there are 2 lanes for
4 lanes of traffic. A system right from the 1950's.
Our local colleges are crammed with students - that will be paying
off their loans for 20 years.
roadrunner
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
<< <i><EM>Theump<EM> asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery. Just goes to show you, <EM>theump<EM>... Don't (necessarily) trust everything you read. Deceivers and "rattlers" abound, I guess, just about anywhere you go. As to your question, it is a complex issue. There are several possible manifestations and phases to a potential deep recession/depression. But I totally agree with you, a full-blown depression is not only possible, it is PROBABLE at this point in time. Whether bozo-the-clown might want to believe it or not, our country is BROKE and we are headed for MAJOR ECONOMIC CALAMITY!
I believe tangible assets (such as collectible coins) will thrive for awhile in the (current) inflationary phase; because people will be trading for any kind of hard asset to get out of the dollar. However, when we get to the truly depressionary phase (or hyper-inflationary phase), wherein large masses of people start having trouble raising enough money for food and shelter (we are beginning to see that even now, with the housing debacle), then most all investments (and hard assets) will have trouble finding a market. When will that be? Only God knows. I would suggest selling the things you don't want to keep long-term now and for the next couple of years, while the market is still viable. Hold on to your long-term gold and estate item collectibles though (if you can). The politically-brainwashed don't want to hear it, but economically we're headed for a BIG FALL in this country... like the old Roman empire.
Thanks for your response. But, I wonder, when the "it" really hits the fans, will anyone really care about rare Morgans or rare Mercs beyond their silver value? But, I guess a few will be snapping up those deals if they should become available.
<< <i>"Theump asks a legitimate question and gets steamrolled with "revisionist" political horse snot and chicanery."
All of which is linked, dude, to original source material. Where are the links to back you and theump up
Oh please, you are showing generic type of horsesh1t articles about how great things are. If you want I can link to 100's of negative articles.
But go to (www.jsminest.com and everything will be explained.
Nah - prolly not.
Link
<< <i>
<< <i>"I believe this country is in the worst economic shape in it's history"
Specifics? Like jobs, GDP, inflation figures? >>
1. First and foremost the housing situation
2. Runaway inflation (oil, commodities)
3. Lack of leadership
4. National Debt
5. Slowing economy
6. Falling dollar
7. Derivative situation at the banks and brokers/credit cruch
8. Falling interest rate/deflationary spiral (stagflation)
I expect all these problems to get much worse before they get better. >>
and dont forget moral decay - this country is relatively a young nation and sorry to say heading down the tubes fast - society as a whole is breaking down - YES, we need a leader and I dont see that happening - the political landscape in this country, IMO, is hurting big-time - hate to be doom and gloom, but it's all around us - just lead your life the best you can and hope that things will turn around.
just completed 3d tour to Iraq and retired after 28+ years in the US Army
Linky
Box of 20
I personally think that much of the problem with the housing industry is
directly related to the democrats winning both houses of congress in
the last election.
They are refusing to reup the bush tax cuts and that bascally means
they are creating a massive back door capital gains increase.
Which in turn will create lower housing prices.
And of course they know this, and they are doing it on purpose.
The democrats have learned to use the capital gains cuts/increases
as a political weapon.
The democrats are trying to create a recession, so they can
blame it on Bush.
Regards, STK
Nancy says buy Gold!
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
Pick your type of recession and then place your bets.
roadrunner
I will go off hard facts gathered from real life experience.
1) Oil at a new record high even adjusted for inflation
2) Gas at a new high. Diesel fuel now at 3.70 a gallon. How long before thats passed on to the consumer??????
3) Both of those reached with new data released from the Gov saying supplies of both rose at close to record levels
when has that ever happened. Inventories rise above the speculators expectations and the price for both RISE
4) A gallon of milk now cost 4.25 compared to 2.89 a year ago. A dozen eggs doubled in the last 3 months
5) Wheat futures at a all time high. Corn prices rising due to the Ethenol craze
6) Farmers and Meat processors saying higher prices are coming because of the record prices for corn based feed
7) 12 billion a month to be spent on the war in Iraq
8) Employee pay lagging behind rate of inflation
9) Home prices and old and new home sales declining by record percents
10) I do not care what any economist or the idiot President tries to tell me. I live in the real world.
I have seen my monthly expenses for fuel and groceries close to double in the past year
11) The reason people are still buying flat screens and driving the big SUV's and filling up the over priced food joints
would be most are now dual income families.
So go ahead and quote your news articles. Try going out in the real world
Box of 20
<< <i>I'm not going to waste my time searching for media B.S charts and so called experts trying to tell me everything is ok.
I will go off hard facts gathered from real life experience.
1) Oil at a new record high even adjusted for inflation
2) Gas at a new high. Diesel fuel now at 3.70 a gallon. How long before thats passed on to the consumer??????
3) Both of those reached with new data released from the Gov saying supplies of both rose at close to record levels
when has that ever happened. Inventories rise above the speculators expectations and the price for both RISE
4) A gallon of milk now cost 4.25 compared to 2.89 a year ago. A dozen eggs doubled in the last 3 months
5) Wheat futures at a all time high. Corn prices rising due to the Ethenol craze
6) Farmers and Meat processors saying higher prices are coming because of the record prices for corn based feed
7) 12 billion a month to be spent on the war in Iraq
8) Employee pay lagging behind rate of inflation
9) Home prices and old and new home sales declining by record percents
10) I do not care what any economist or the idiot President tries to tell me. I live in the real world.
I have seen my monthly expenses for fuel and groceries close to double in the past year
11) The reason people are still buying flat screens and driving the big SUV's and filling up the over priced food joints
would be most are now dual income families.
So go ahead and quote your news articles. Try going out in the real world
Man, if that doesn't sum it up, i don't know what does!?
<< <i>
<< <i>"I believe this country is in the worst economic shape in it's history"
Specifics? Like jobs, GDP, inflation figures? >>
1. First and foremost the housing situation
2. Runaway inflation (oil, commodities)
3. Lack of leadership
4. National Debt
5. Slowing economy
6. Falling dollar
7. Derivative situation at the banks and brokers/credit cruch
8. Falling interest rate/deflationary spiral (stagflation)
I expect all these problems to get much worse before they get better. >>
Also you could add in personal debt and lack of personal savings.