Is the economy actually permanently screwed?
I say yes it is; the petrodollar is being threatened by the ruble, the price of oil is tanking, china's construction bubble will probably sing the death toll for what is really the only manufacturing power on earth, and the wealth of the world is being even split into two groups, with no moderation between.
Is it perma-fucked?
It's just not really going anywhere. I feel like things will just continue being eh until either a major disaster or miracle occur, in which event we'd either decline as a society or reach a new golden age.
I'm buying silver with the cash I would otherwise spend on movies and games. Not touching gold tho, it's far too rich for my blood currently. Besides, if I had gold money I would invest it in property.
I dont see the world economy coming out of this naturally. China is going to collapse which means they are going to end up in civil war/revolution. Europe is going to get real poor real fast once the Chinese slowdown turns into a Chinese stop, and the social costs of the refugee influx really kicks in. The US is going to chug along at 1-2% growth a year until our next recession (which historically is due this year)
Once everyone is poor and contracting at once we end up with a very bad picture not seen since the 1930's. When that happens the only thing that has ever proven to work is a World War.
No, as long as you don't have that much debt, you should be fine
The student loan industrial complex however is totally screwed and will collapse as soon as the number of students can't pay their debts anymore, possibly bringing about a collapse of several banks.
Of course, any retard could have told them that getting young people into tens of thousands of dollars of debt is a really bad idea, but since when have financial people ever listened to sound advice?
If the student industrial loan complex is going to collapse, would it not make sense to take out as many free monies as possible. In order to take advantage of the spectacular settlements.
what risk. You could file bankruptcy and settle anyway.
inb4 can't bankrupt student loans
true but thats only because they have such generous/flexible repayment options that they are effectively written off at an extreme benefit to the borrower.
>generous/flexible repayment options that they are effectively written off at an extreme benefit to the borrower.
What? Nigger no. The repayment adjustment plans increase interest rates and you pay more in the long run. By the time they "forgive" your debt you've already paid 150% of the principle.
I have 7 1 oz silver Canadian Maple Leafs and 3 1 oz rounds from Sunshine Mint.
I was hoping to buy generic mint shit but in the event of the dollar shitting itself I guess I should have Silver Eagles and Maple Leafs, as well as pre 1965 coins and some high ounce bars from private mints approved by the LBMA like Elemetal.
Gold is out of my range too.
The tl;dr answer is no.
As long as there are people living and breathing, there will be economic activity. There will never be a time when people just decide to give up, to not get out of bed in the morning or decide to stop breathing. Our 1st natural and number 1 instinct is survival. Nothing short of full apocalypse will stop that.
That is obviously an extreme example but it does highlight why the simple answer is no. It might not always be as it is, or even as we know it, but it will never stop while there are people still alive.
But that will just delay the return to the mean, making the inevitable crash even worse. Pic related.
The financial oligarchs have a stranglehold on public opinion and the government, so they've intervened during each market return to the mean. They're going to slowly grind our economy down into oblivion in order to protect their funny money on the financial markets.
You're not wrong in my opinion, but I think the markets have been forever changed since the onset of the Internet. Anyone can trade now ... so I think your pic related is a little off.
>Got (physical) silver at $10 an OZ
>None of the shops in town pay market value
The economy didn't grow 3x its original size between 1992 and 1998, though. Sure, the high valuations may be fueled by increased public interest due to the internet, but it's still a speculatory bubble.
The entire financial sector is overvalued.
The federal funds rate has been operating at close to 0% for the past 7 years. The fed rose it to only 0.25% because they know banks can only operate with essentially free money now. Any more is economic suicide.
Collapse won't be immediate as the US dollar becomes essentially useless, it will be slow as continued small rises in the interest rate occur to "keep the dream alive, but the sleeper barely asleep." Investment will decrease, technological knowledge and advancement nearly halts. No get-rich-quick schemes exist in this scenario. No rapid fall or rise.
A antibiotic-resistant superbug causes a 1-4 death rate.
Human happiness will change, or rather cease to exist. People will no longer focus on the pursuit of happiness, or materialism-induced serotonin doping. People will finally realize they are either fulfilled, unfulfilled, motivated, or unmotivated. Only then will our sick society truly start to heal as men and women focus on their family's and children's well-being, and base itself on personal relationships and true equity to survive on what little they have left.
That's my best speculation
It's not just the US economy investing in the market though. It's world wide. Internet has opened up to new investors around the world. Still overvalued, but I don't think as much as that chart shows.