The euro will collapse, perhaps not right away, perhaps in the next 5 years or so, because let's face it, no socialist government has the will to enforce the deep austerities that need to be effected to reduce debt.
The euro bailout was the death of the euro in my opinion, all they did was "kick the can" a few years down the road, but it will come back with a veangence. I believe that come 2011-2012, the world will begin to lose faith in the US dollar as the economy proves it is not recovering. The key to all this is ofcourse China, and china depends on the euro and US market to keep its game of 8% GDP every year...not sustainable.
I believe there will come a time (my hope is that we are still a few years away) when fiat currencies will implode, and the majority of the people's wealth will be systematically wiped out (those that have savings in currencies). I also believe ppl in a lot of debt will experience incredible hardships if not outright bankruptcies.
Now I know my posts have been a lot of D&G in the past, but I have been partially vindicated by whats happened in the past month. I fear this is just the beginning. I see the debt around the world in governments that have no means to restore their budgets.
I am thinking that the best strategy now is to reduce debt, and "accumulation" of property, and hence more debt, should be stalled until we see through whats to come.
What does everyone think? Is expanding or holding debt with all that's going on? Should the next 2 - 3 years be about cutting down debt drastically?
Would like to hear everyones opinion.
The euro bailout was the death of the euro in my opinion, all they did was "kick the can" a few years down the road, but it will come back with a veangence. I believe that come 2011-2012, the world will begin to lose faith in the US dollar as the economy proves it is not recovering. The key to all this is ofcourse China, and china depends on the euro and US market to keep its game of 8% GDP every year...not sustainable.
I believe there will come a time (my hope is that we are still a few years away) when fiat currencies will implode, and the majority of the people's wealth will be systematically wiped out (those that have savings in currencies). I also believe ppl in a lot of debt will experience incredible hardships if not outright bankruptcies.
Now I know my posts have been a lot of D&G in the past, but I have been partially vindicated by whats happened in the past month. I fear this is just the beginning. I see the debt around the world in governments that have no means to restore their budgets.
I am thinking that the best strategy now is to reduce debt, and "accumulation" of property, and hence more debt, should be stalled until we see through whats to come.
What does everyone think? Is expanding or holding debt with all that's going on? Should the next 2 - 3 years be about cutting down debt drastically?
Would like to hear everyones opinion.