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If you are right sunfish...is having large debts in households a good thing? From my understanding, wages must rise quickly to match a hyper inflation scenario....that means our debt is much smaller which we can pay off quicker...though interest rates will get in the way a bit as they skyrocket...
Your examples are hyper-inflation which is the worst thing that can happen to the citizens of a nation, even (especially?) the middle class.
Your mortgage will inflate away but the hardships you, your friends and family will suffer are too great a price to pay. Be careful what you wish for.
I see either a global collapse of economies OR mass printing money to fund their debts, leading to what we all fear, that's right say it with me "hyper-.........."
I agree if hyper-inflation hits things will be bad.
It would be the worst case of D&Ging to believe we are coming close to hyper-inflation.
No. Only a hyperinflation scenario would have your interest rates below inflation. OK I know it happened briefly in the '70s but there have been millions of opportunities over the years, let's not live in the past.So can I get a consensus on my previous question regarding a skyrocketing inflation scenario...is debt in assets (like property) a good thing as it allows one to pay debt more easily.
I thought that was what DanielG was referring to, and that was what I was replying to.
I agree if hyper-inflation hits things will be bad.
It would be the worst case of D&Ging to believe we are coming close to hyper-inflation.
I just wanted to put things in perspective. If social order collapses the last thing to worry about is what you owe the bank.
No, it'd be fair game. We want their oil, they want our money.
plenty of oil floating around the gulf of mexico at the moment. who wants to come with me on my tinny? bring a couple of jerri cans with ya.
When I think of Rudd's "the minerals belong to all of us" statements I visualise thousands of people with a pick, shovel and wheelbarrow digging up the Pilbra. Once you've got your barrow load, what do you with it? Panning for gold is different but I don't know of any listed company working alluvial gold. Father/son ops can dredge for tin but that's environmental vandalism.
Which would you prefer, a diamond or a barrow full of dirt you can't grow anything in?
There are many of these operations in Africa and Central America but they all have one thing in common: They are all illegal and dangerous. Jobs best left to the pros. LOL