Sunday, April 19, 2015

We're in for a Major Depression

In keeping with my policy of being influenced by the last person I saw on YouTube, I'm going to talk about the major depression that Harry Dent is predicting.
He was interviewed by Greg Hunter today.
He uses demographics for his study of cycles in the market and geo-political predictions.
I've been thinking that gold and silver will go through the roof because of hyper inflation.
Harry says that instead of hyper inflating, everyone will simply default on their debt.
He pointed out that the banks are the ones who are producing most of the money due to "fractional reserve banking".That means that for every dollar the banks get they loan out ten. The banks will be defaulted on; causing a major depression.
Of course, all the spending that has been going on since the 2008 crisis has only made things worse.
This brings into doubt, my idea of panning for gold since that would be used for bartering.
Not only will it be doubtful that people will have any use for gold to barter with but it may go down in value to a fraction of it's value, now.
I think I'll still go prospecting but I'll be more likely to try to find a job if the prospecting doesn't work out. I'll be in California and maybe there are more jobs there.
 I'll be able to find something with computers. For the last 15 years I've only been able to find jobs that were government subsidized. Like work-study at schools and Experience Works ( a government program).
Nick came here to the Co-op so I'll sign off for now.
Later
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