A Must Read! Utter Global Collapse

Discussion in 'Homesteading Questions' started by LiberalCountryBoy, Jun 6, 2005.

  1. LiberalCountryBoy

    LiberalCountryBoy Well-Known Member

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    Julian Robertson is "One of the greatest of the old-timers. 53 years on the Street. He manages the Robertson group of funds. They used to call him, still do call him `Never Been Wrong' Robertson. He has predicted every economic cycle, every debacle, every bull market, and every bear market."

    Martin says "Of course, he's a very old man now. But his reputation on the Street is like nothing you could imagine. When the segment of his interview was through, his comments alone took the Dow Jones down 50 points. Just on his comments alone. That's how powerful this man's reputation is."

    Robertson said that he's worried about the speculative bubble in housing and the fact that more than 1/4 of all consumer spending is now sustained by that bubble, plus the fact that 20 million citizens could lose their homes in a collapse of the speculative bubble in housing, and that the Fed and, indeed, central banks worldwide would act in concert out of desperation to reinflate the global economy in the process, creating an inflationary spiral unheralded in the economic history of the planet.

    "Where does it end?" Robertson was asked and he said, "Utter global collapse." Not simply economic collapse; complete disintegration of all infrastructure and of all public structures of governments. Utter, utter collapse. That the end is collapse of simply epic proportion.

    In 10 years time, he said, whoever is still alive on the planet will be effectively starting again."


    Julian Robertson blamed everything on what he calls ´the Bush-Cheney regime´.


    He says "they have now consolidated power and money on the planet to the maximum extent possible. The planet´s net liquidity, that is its, net free cash flow. Is now a negative number. The planet is not simply sinking into a sea of red ink; it is already sunk. The people just don´t realize it yet."

    Robertson says "the Bush-Cheney regime is preparing the nation for transition from democracy into dictatorship because a dictatorship will be necessary to control, in 5 years´ time, food and water riots."
    He said "the federal government, that part of Patriot II Act, the internal exile, that the government is going to have to build now huge detention compounds on federal lands, probably in the West where the land is available, to potentially house
    50 million or more citizens that will be in financial ruin."

    Julian Robertson went on to say "Food production will fall. Any further effort to control environmental destruction will be abandoned. Inflation will run into the double and eventually triple digits. People will be carrying around U.S. dollars in wheelbarrows like Germany."

    Robertson said there would be "total collapse of public infrastructure. Total collapse of medical care systems. All public pension plans, Social Security will collapse. All corporate pension plans will collapse."

    Robertson backed up his comments with statistics in one statement he said "But, 14% of all real estate transactions now being interest-only mortgages, and another 14% of people now, that, when they bought their homes, originated more than 100% of
    the purchase price in the mortgage and then borrowed further."

    He said "The American consumer is effectively now supporting the rest of the planet, consumption rates in all other nations are falling, have fallen to the point that the tax revenues to governments, that the business and industries those nation states are providing is now a net negative number relative to total debt service and public cost, that this exists in virtually every nation state on the planet now."

    He said "More importantly, and I´m trying to think how we imply this or how we express this to the people, what extraordinary times we are living in and how the destruction of the planet has been engineered by the Bushonian Cabal from 1980 to 1992, and then from 2001 to present, which has effectively destroyed the economic liquidity of the planet."

    When Ron Insana the interviewer said "you have sold all of your real estate and you are moving into one of the new super-secure compounds for wealthy Republicans for when the ´barbarians will be at the gate.´

    Robertson replied, "Ron, those barbarians will be potentially a third of the American population."

    Robertson ended his comments by saying that "he hopes that he is not alive to see this. The lucky ones are the ones who are my age now."
     
  2. whodunit

    whodunit Well-Known Member Supporter

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    Gee, I wonder who he voted for?

    While I don't doubt that something like this could happen, I find it difficult to believe that Bush-Cheney alone got us into a position like this. I think all political parties and philosophies can take some of the blame.

    I heard a story of a country boy from rural Idaho who was in WWII, who thought he was poor until he met city boys. His version of poor involved meat and potatoes on the table every night, since they raised it themselves. The city boys often went hungry.

    I guess the best thing to do is strive to be self-sufficient, so if this ever happens, your life and the life of your family will go on.

    Prepare for the worst. Pray for the best.
     

  3. bgak47

    bgak47 Well-Known Member

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    Sounds like Gloom & Doom for the Suits. My family will survive, even if Money becomes irrellevant.
     
  4. Quint

    Quint Well-Known Member

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    Yawn.

    The deluded ramblings of someone who has their panties in a twist over who won the last election.

    Back in the Clinton years it was the right wingers who were screaming about Clinton declaring himself dictator and locking up the opposition in federal concentration camps located on government land. I fell for a lot of that hook line and sinker back as an impressionable teenager back in the 90s.

    This crap never ends. The world is going to end. Better have all your money in gold. They've been spouting the same crap for decades. Decades. I have books from the 50s that run the same line of BS. In the mean time the economy has grown and grown and the people who have invested have became wealthy. Some of them extremely so. meanwhile the only folks who profit from the sky is falling hysteria are the ones who sell the books.
     
  5. D

    D Well-Known Member

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    LCB, will this change your own personal life? I mean, are you going to do anything differently on a day to day basis? Just curious. :confused:
     
  6. Cabin Fever

    Cabin Fever Life NRA Member since 1976 Supporter

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    Yawn........

    This belongs in "General Chat."
     
  7. LiberalCountryBoy

    LiberalCountryBoy Well-Known Member

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    Dang, I wish I had edited out all of the political jargon and this would've recieved a better response. If this fella has an effect on the stock market with a simple interview...

    Anyway
    A few things that really jolted me were the dictatorship (or whatever Orwellian name they come up with), the five year time line, and the ten year time line. I don't think he has his panties in a twist soo much over who won as he does over what's been done. Obviously, he doesn't think much of the Bush Regime, but hey most of the world doesn't. Nothing new there.
    :haha:
    Looking back now I geuss I shouldn't have made a post about it at all. Just jolted me a bit when I read it and I thought this would be a place where some may gain some insight from it. Use it or don't, whatever. Or, like I like to say "Que Sera Sera".


    Yep D, I reckon I'll have to re-implement those old Y2K controlled panic ideas. I won't have time to move to a larger more hidden type property so I'll have to prepare where I'm at. That old bloom where you're planted thing.
    Death isn't really scary anymore. I'm older and I had this really fantastic dream a while back where I 'died'. It changed my whole outlook.

    In closing I say, if it doesn't 'jolt' you - Fuhget about it! Today, I'm planning a vacation and haven't decided if I want warm sand or something else ;) .
     
  8. sylvar

    sylvar Well-Known Member

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    Hey LBC,
    One thing to temper your thoughts on this. Robertson isn't as accurate as they say in that article. Don't forget that he totally missed the dot com bubble bursting. That mistake sank his entire investment company.

    Just something to consider when you weigh how much stock to put into his advice.

    Sylvar
     
  9. oz in SC

    oz in SC Well-Known Member

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    Julian Robertson is a Republican.

    He is a BILLIONAIRE.

    He is NOT very enthused about Bush and Co.(neither am I but I voted for him...) and from the article feels that NOTHING can be done to stop it and it is NOT this administrations fault..

    Just because a nation is incredibly wealthy(and THIS nation is-NOTHING has EVER existed before that has wealth like the USA) doesn't mean it is invulnerable.

    Brazil was a thriving modern industrial nation....it isn't anymore.

    I posted on GC a firsthand account of someone living there and how life has changed in the last few years-it is eye-opening.

    I REALLY hope we can sell this house and get the barn/apartment built on our land in the next few months so at least we will be rid of the debt on the house.

    Being prepared and vigilant for possible coming events isn't a bad thing in my opinion.
     
  10. Thatch

    Thatch Well-Known Member

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    Amen
     
  11. edcopp

    edcopp Well-Known Member

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    This correction could have taken place last night and I would not have known. It is wise to prepare, if we don't or didn't then we will have to take our lumps. We are fools if we even entertain the notion that the current economic situation came about in 5 years. That lets too many of the guilty off the hook. This chunk of liberal biased yellow journalism would have us believe that the greedy bankers are totally innocent. What about the FED? It seems that Mr. Greenbacks is playing the whole financial world like a newly tuned fiddle.

    :soap:
     
  12. pcdreams

    pcdreams Well-Known Member

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    I think this fall is comming. However I don't buy that it was all the responsibility of the Bushs. No way could 2 persons do this much damage.

    no its been going on since the founding fathers.

    Just another reason to become self-sufficient

    and as far as the money goes. So what who needs it? Money is 99% of the problem with the world anyway. Barter system works much better
     
  13. tnborn

    tnborn Well-Known Member

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    I agree with thatch,
    take it to general chat.
    tnborn
     
  14. oz in SC

    oz in SC Well-Known Member

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    I don't think the author said it was ALL the fault of the current administration...

    As to being in GC,why?

    It isn't political in my opinion it is about being AWARE of what some think might be in our future...
     
  15. Smelt

    Smelt Active Member

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    Another example of why I don't visit Homesteading Today much any more. Look at the facts about this guy. What a wasted thread. Please...stop the idiotic rantings about the end of it all! Stupid....:grump: :bash:
     
  16. oz in SC

    oz in SC Well-Known Member

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    Try not replying...quite simple really.

    What facts anyway?

    He was one of the most respected people on Wall Street...

    He knows what it is like to lose BILLIONS....

    Seems he might know what he is talking about...

    But whatever.
     
  17. diane

    diane Well-Known Member

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    "Robertson backed up his comments with statistics in one statement he said "But, 14% of all real estate transactions now being interest-only mortgages, and another 14% of people now, that, when they bought their homes, originated more than 100% of
    the purchase price in the mortgage and then borrowed further.""

    Is this true?? I can not imagine anyone not being disturbed by this.
     
  18. Shygal

    Shygal Unreality star Supporter

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    "It isn't political in my opinion it is about being AWARE of what some think might be in our future..."

    General Chat isnt about just politics.
    This is the Homesteading Questions forum.

    So, what does this topic have to do with Homesteading Questions?
     
  19. oz in SC

    oz in SC Well-Known Member

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    Would this NOT affect some peoples plans on the future?

    If people in th eknow seem to keep stating the housing bubble is getting ready to pop and various other quite important matters it might be helpful to some thinking of making the leap to the homesteady life....

    I wish we had started our process two years earlier as we would be up there or at least have something built by now...

    Not trying to start a fight....this time..LOL

    Diane,no idea if that is true-do know a LOT of people have taken out all the equity in their homes to finance other parts of their lives....us included to a point....

    IF we had not gotten a 2nd mortgage we would be selling this home and getting almost three times the equity...but we certainly didn't get it to go on vacation..LOL
     
  20. Shygal

    Shygal Unreality star Supporter

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    I....SUPPOSE you can look at it that way :p

    But then again, you could say most every post in general chat is about things that might affect someone's future, and then you will have GC II in here.
    One general chat is enough! :eek: