Great Depression of 2016

[hemet dennis]

Denis, thanks for your opinion, hopefully we will hear from others.

I welcome your thoughts on my opinions.

 

[rufus]

Dennis, you may be right. I guess we will find out eventually. It looks to me like we will see an extended period of time in which the oil and gas business may not be the best thing to be in. I wonder if we continue to see low prices for fuel, will we see a return to bigger automobiles?

 

[rufus]

I came across this article this morning: http://www.detroitnews.com/story/business/autos/ford/2016/04/05/ford-new-mexico-plant/82649976/

I wonder if this plant will be producing vehicles for the Mexican market or for the world market? I do know that those made for the Mexican market are somewhat different than those sold in the US.

Years ago, we were told that automobiles could not be built in Arizona because we didn't have the water supply. But the plant in Hermosillo, Sonora has even less access to water.

Also, I see where GE sold their appliance division to Haier, a Chinese firm. I don't know where this is going, but I am afraid it will not be good for us.

 

[MrsBrooke]

I came across this article this morning: http://www.detroitnews.com/story/business/autos/ford/2016/04/05/ford-new-mexico-plant/82649976/

I wonder if this plant will be producing vehicles for the Mexican market or for the world market? I do know that those made for the Mexican market are somewhat different than those sold in the US.

Years ago, we were told that automobiles could not be built in Arizona because we didn't have the water supply. But the plant in Hermosillo, Sonora has even less access to water.

Also, I see where GE sold their appliance division to Haier, a Chinese firm. I don't know where this is going, but I am afraid it will not be good for us.

Nah. I'm sure it will be FIIIIIIIINE.

Just like in 2000 and 2007 when everyone said "it'll be different this time."

MrsB

 

[rufus]

I don't know how this is going to work out. My wife has to call India when she has a problem with her retirement. She gets so frustrated with their lack of English skills, she says things that never get taught in English classes.

When my youngest son was going to law school, he worked as a telephone resource for an appliance company. He told repairmen and appliance owners how to trouble shoot their washing machines. That job went to somewhere in Central America. If your machine breaks down, you better be pretty fluent in Spanish.

Do you suppose the Chinese will do better?

 

[BBQJOE]

I'm more worried about this talk of a "bail in". Where they freeze our bank accts and start taking whatever money they need.

 

[rufus]

Negative interest rates would allow the banks to eventually reduce our savings to nothing. It is already happening in Japan. It makes sense to buy a big safe and keep your savings in it.

If interest rates are kept artificially low, why put money into banks? Bank accounts now are considered property of the banks and can be used to solve their own financial problems. Also, the government can seize accounts for its own reasons. https://www.rt.com/usa/199883-irs-structuring-civil-asset-forfeiture/

Worse is the "My IRA" plan floated by the Democrats. http://money.cnn.com/2014/01/29/retirement/myra-accounts/

On the face of it, it looks good. But, take another look and think about it. It looks like another con game to me.

When bank accounts in Greece were seized, cash became king.

 

[MrsBrooke]

But I remember someone in this thread said negative interest rates would NEVER happen, if I remember correctly. I just can't seem to remember who it was.

Beans, band aids, bullets, and bullion, friends!!

We have precious little time left, I feel!

MrsB

 

[BBQJOE]

But I remember someone in this thread said negative interest rates would NEVER happen, if I remember correctly. I just can't seem to remember who it was.

Beans, band aids, bullets, and bullion, friends!!

We have precious little time left, I feel!

MrsB

Don't forget booze and tobacco. Two other excellent commodities for bartering, and maybe even for your head.

 

[rufus]

And where is Dennis?