Future Money Trends’ Daniel Ameduri joins Finance & Liberty’s Elijah Johnson to discuss the absolute destruction of the US middle class, and the coming economic collapse that will completely obliterate what is left of the middle class and those unprepared with physical assets.
Ameduri discusses his views on while an economic collapse in the US is inevitable, is it imminent?  


 

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  1. How long until people stop waiting for some catalyzing event and realize we’re in the midst of “collapse” at this very moment? Sure, there may be Lehman-like events that drastically accelerate, even foment, the worst-case scenario, but this process is incredibly fabian in nature. Salary deflation and a lack of money velocity continues to erode American wealth, and steady inflation of uncalculated goods like food has continued, slowly but surely, since 2008. Our exported inflation will eventually come home, too, at a similarly slow pace, as emerging markets implode from IMF debt and carry trades. And as the majority of Americans slip into destitution, people will still be waiting for “The Event.”

    This show’s on autopilot at this point, folks. The Fed doesn’t even need to intervene anymore and this’ll still play out. On balance sheet sovereign debt to GDP should make that abundantly clear at this point.

    Have a good weekend everyone. Stay safe out there and keep stackin’ :D

    • CerebralIndustrialComplex … “This show’s on autopilot at this point, folks”

      It sure is … and has been since 1964. Once PMs ceased to be pari passu convertible with Notes, the exponential process of Note creation started. The chart of banknote growth shows that blatantly.

    • I agree.  Economic collapse is not an event, although it is possible that some horrendous even COULD precipitate collapse.  Barring that possibility, it is a lot more likely that economic collapse will occur over a significant time period.  Different people will look at the same news and data and, in good faith, reach differing conclusions.  Some things do seem to be coming to a head, though.  I don’t think that it’s that anyone wants an economic collapse, it’s more like those who could do some things that would prevent it simply aren’t.  Maybe they are not convinced of the need to act or can’t agree on which actions would be efficacious.
       
      US politicians really irritate me on this.  They act as if they have all the time in the world to address our economic problems in their own good time and there is no reason to hurry or worry about where we are or what’s happening.  I believe that they are wrong about this.  They are like people laughing, partying, and sun-bathing on a boat as it floats lazily down a calm and peaceful river, completely oblivious to the dangers of the falls up ahead.  
       
      Once again, this is a process so unlikely to respond to simplistic changes in an event or two.  But a lot of difficulty in the coming years COULD be avoided via taking preventative action today.  Implementing a budget freeze would be one idea.  A flat tax would be another… especially if spending were figured out AFTER we knew how much money we had coming in.  They have put the cart before the horse by spending hideous amounts of money and THEN worrying about how to pay for it.  Instead, we need to collect X amount in taxes and then decide how much we can spend because we already know that it is X or less, and then figure out how best to get the most for that money.  Prioritizing such things IS difficult… but then, that’s why we have hired these politicians.  Anyone can do an easy job.  They get the big bucks and percs for doing a HARD job.  So, they need to get on with it and stop whining about how hard it is.  If it is too hard a job, resign and look elsewhere for easier work.
       
      Speaking of “on balance sheet” things… why isn’t every penny spent by the Gov ON the balance sheet?  Seems to me that is what a balance sheet is for.  If we have items that require spending money but aren’t on the balance sheet, how can we ever know how much we have or are spending?  The answer is, of course, that we cannot know because we will ALWAYS be spending more than we have.  This is enabled by the fact that governments at all levels are allowed to borrow money.  If they could not borrow money, they would HAVE to live within the government’s income.  Oh, the pain!  Well, that is no less than what all of the rest of us HAVE to do, is it?  Not only that but without borrowing, there is no way to buy votes with spending today via sending all the bills for it to those who cannot yet vote in future generations.  Yeah, that’s another plus for tearing up the government credit card.  Cash only, NO CREDIT!  They have proved that they cannot handle a credit card, so why allow them to have one?
       
      And no, PatFields, I am not ignoring the interest inherent in FRNs… just leaving that topic for another discussion, even though it adds greatly to the national debt / spending problems we all have.
       

  2. I feel like we’re all on a gigantic metaphysical Malaysian flight 370, not knowing the destination, who’s really flying this crate and if we land before running out of JP 6 FIATDEBT fuel. Maybe it’s time to put our tray tables and seat backs in an upright and locked position.

    • @AGXIIK
       
      “Maybe it’s time to put our tray tables and seat backs in an upright and locked position.”
       
      Maybe.  Or maybe it is time to roll forward, tuck our heads between our thighs, and kiss our butts goodbye!  Think about the fact that the only things between us and nuclear war with the Russians are idiots like Kerry and Obama.  Would anyone want to bet any money on the international diplomacy skill level of that duet?  How about betting our country?  That’s what it seems to be coming down to… and the 3rd string is definitely in.  :-(
       
       

  3. Watching the ACC BB tournament at coastal NC this weekend with our tailgate group. Gloom and doomers along with the date setters/collapse predictors that I have been reading on these blogs for nearly 3 years don’t know crap. Fed has navigated us thru the storm and will continue to do so for years to come. Those that advised us to invest in pm’s 3 years ago need to come clean and admit their failure. Economy in Raleigh NC is booming. with building going crazy again, restaurants are full, and people are buying new cars. Any other commentary is pseudo reality. Wish I didn’t have to say this, but sometimes reality hurts. Regards.   

    • Bradford … “Wish I didn’t have to say this, but sometimes reality hurts.”

      Okay, time to wake up from your drunken Tailgate Party stupor, Brad. By the way government’s figures (for what they’re worth) read, it looks to me like N.C. is losing labor force at a dramatic rate and workforce participation is dropping. While unemployment is ‘down’ to 6.9 percent, that can be caused by folks fleeing the State.

      http://www.bls.gov/eag/eag.nc.htm

    • Yeah, what Pat said.  
       
      Not only that, but one city in one state a national economy does not make.  I am happy that there is some good news out there in some places but just wish that it was a lot more widespread than just here and there.
       

    • @bradford
      We have a similar thing going here in Indiana. 
      The economy is near the top of the scale in the U$A, but I see more homeless, our churches have more requests for help, and during a recent layoff, the bill collectors are getting much more aggressive. (some are pre-harrassing if you have had past late pmts) One just needs to look a little deeper, and the evidence is there. Even the MOPE figures are bad enough that a complete restructuring is inevitable, of the U$D based debt. I’m glad you are in a good area, but being debt free, diversified into PMs and “prepped” for economic disruption is a great idea even in excellent economic times. You may be too young, but remember hurricane Hugo? 
      That played havoc on the Carolinas…

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