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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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To donate via Stripe, click here.
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Does anyone actually believe this? The Fed will go brrrr, no?
Then what? brrrr has already generated 17% inflation.
They can do it again and create 50% inflation. Does that work for you?
Translation … IT’S OVER !
No, it doesn’t work for me but, does the Fed give a good damn? Any choice they make will not be good for me. They don’t care about the plebes. They will do whatever is best for them and their group.
Btw, what is the best investment in a rising interest rate environment? That is a real question.
This time it is different. Get out of debt. Have some gold. Have some food. Have some cash. Have some protection. Spread it around. Have no faith in anything of this earth … that way you will not be disappointed if it really hits the fan this time around.
If it is truly going to be epic, why not load up on revolving credit? Buy stuff you will need and then when TSHTF, walk away from the debt. If your home loses more value than the debt, walk away. Jingle mail all the way.
I’ve been asking this question on this site and others who bandy the “get out of debt” line.
Nobody can give me a solid answer.
And revolving credit is the most difficult to collect.
It is impossible to sell, as each charge is an individual contract (that’s why you sign the slip).
If disputed, each charge must be dealt with separately.
(Collections won’t tell you this.)
Default is a valid and legitimate business option.
The rate charged for the loan is intended to compensate that risk.
Also included in your interest rate is an insurance premium against your default.
If you do default, the credit card company files on the policy for relief.
And they are still allowed to pursue you for the ‘debt’.
So don’t feel bad for defaulting on credit card debt.
It’s insured by a policy you paid for.
Ever heard of the Argentinian money problem? “Your money is still in the bank and totally safe, you just can’t access/withdraw it.”
You can easily imagine a similar approach to ‘defaulting on debts’… sorry, please fill out this 200-page form and get approval from 6 bureaucratic agencies, so you can default on your loans and have them legally wiped clean. Until then, enjoy you debt serf status!
And if the system completely collapses… then there will be no more legal route to personal default; enjoy the mafia-style collection process instead.
Then there is the moral aspect for yourself:
A second wrong to make it [fiat money printing] right, never works…
“…what is the best investment in a rising interest rate environment? That is a real question…”
Buy REAL assets now, while the money spends.
Things you can think of that you will NEED in the coming climate of catastrophe. Things you won’t be able to get for much longer. How many pairs of BOOTS do you own?
Don’t go nuts with precious metals, because almost no one out there appreciates the value of metals, so you will have a VERY hard time trading metals for what you need then.
Booze, ammo and cigarettes will trade way easier than gold or silver.
If interest rates continue to climb, won’t the things we NEED fall in price?
No. This is not about money or trade or exchange rates, this is about wealth transfer. You will have a hard time getting money by loan or work, and you will pay more for everything.
And yes, this is a return to normal – a self-defined elite ruling over herds of sheep and serfs with all others defined as being evil. American was an exception to all that, but there’s not much left of it.
Is going galt also considered going …(gulp) green? Asking for my…cat, yea my cat wants to know.
Yes …. yes it is.
POP!
If that dashed line was terra firma the dead cat might bounce. But charts ain’t the territory. Tories are the territory. Toria Nuland puts a fine face to it.
200% is still higher than the true normal. That being said, real inflation is currently in the 15 to 20% range. So it’s really difficult to make any accurate assessments, besides being debt free, keeping expenses low, and living off the land as much as possible.
The pendulum tends to overshoot. “Normal” will be left in the dust and something closer to 100% on the y axis might be more of the target.
Define normal? Because today some think normal is a man putting on a sundress and sashaying down the street screaming “I am the lizard queen”.
Sounds normal enough to me.
The Fed exists to create bubbles for special people to sell and pops them for special people to buy at discount. The markets are not in any way connected to reality. I believe we are near a bottom whether it is 3400 or 2900 S&P. I learn toward the former but wouldn’t be surprised if it is the latter.