Warren Buffett On Retirement

[Jacob Petersheim]

Long but good. Brutal, but honest.

"Retirees Who Ignore This Are Headed for Disaster"

Of course he is probably talking to people with more money than most of us.

 

[Mary Stetler]

What happens after hyper-inflation

 

[Jacob Petersheim]

Hmm, the video has gone "private." I wonder whether there was a copyright claim or something.

 

[Don Alaska]

Hmm, the video has gone "private." I wonder whether there was a copyright claim or something.

I can see it, and I have all kinds of privacy stuff on the computer.

 

[Jacob Petersheim]

I can see it, and I have all kinds of privacy stuff on the computer.

I was referring post my post #1, I can't see that video any more.

 

[Don Alaska]

What happens after hyper-inflation

I once read that the Federal Reserve was patterned after the Deutsche Bank. It was intended to inflate the currency over time and collapse in about a century. We have passed the century mark for the Federal Reserve, and it seems to be on its last legs. We'll see what happens next. The Dollar has one advantage over the paper Mark--it has been the world's reserve currency for several decades, and people all over the world still hold Dollars. That is why we are still afloat--we have been exporting our inflation to other nations. If the BRICS Alliance gets a substitute currency going that is widely accepted, the Dollar--and the U.S. economy--will be history. I think that is what Trump fears and that may be why he is using the economic power of the U.S. while it still exists. and why he is trying to get cryptocurrency going here.

The idea in the video about the government seizing precious metals is something I have been concerned with for some time. Although I don't think the U.S. government will come into most people's home after metal, they conceivably will come after those with very large stashes should the need arise, and they likely will make trading in gold, silver, and other metals illegal as Roosevelt did when he gained the Presidency with a simple Executive Order. No law was even needed. They probably would seize any IRAs or 401Ks holding gold and silver as well.

 

[Mary Stetler]

Hmm, the video has gone "private." I wonder whether there was a copyright claim or something.

you could probably type in Warren Buffet and the title in the youtube search. He has had quite a few common sense items on recently.

 

[Mary Stetler]

I once read that the Federal Reserve was patterned after the Deutsche Bank. It was intended to inflate the currency over time and collapse in about a century. We have passed the century mark for the Federal Reserve, and it seems to be on its last legs. We'll see what happens next. The Dollar has one advantage over the paper Mark--it has been the world's reserve currency for several decades, and people all over the world still hold Dollars. That is why we are still afloat--we have been exporting our inflation to other nations. If the BRICS Alliance gets a substitute currency going that is widely accepted, the Dollar--and the U.S. economy--will be history. I think that is what Trump fears and that may be why he is using the economic power of the U.S. while it still exists. and why he is trying to get cryptocurrency going here.

The idea in the video about the government seizing precious metals is something I have been concerned with for some time. Although I don't think the U.S. government will come into most people's home after metal, they conceivably will come after those with very large stashes should the need arise, and they likely will make trading in gold, silver, and other metals illegal as Roosevelt did when he gained the Presidency with a simple Executive Order. No law was even needed. They probably would seize any IRAs or 401Ks holding gold and silver as well.

Our 'Freedom' is an illusion. We have been used from the get go but it was a good run while it lasted. I was born at just the right time in just the right place and I still have my little farm.

 

[Yvonne Smith]

We are actually doing really good, and in just a short time, our economy has come a long ways.

 

[Jacob Petersheim]

The "Buffett" video seems to have been a fake using his name and image.

 

[Mary Stetler]

Long but good. Brutal, but honest.

"Retirees Who Ignore This Are Headed for Disaster"

Of course he is probably talking to people with more money than most of us.

I did not get to see it but there are several AI Warren Buffet vids on youtube.

 

[Mary Stetler]

We are actually doing really good, and in just a short time, our economy has come a long ways.


View attachment 1717

People are now realizing what a mistake Obama was and is. Even the black community. Remember his 'pep talk' to black men to vote for Trump?

 

[Don Alaska]

We are actually doing really good, and in just a short time, our economy has come a long ways.


View attachment 1717

You won't see anything of this on the MSM. They only report the negatives when they find them. I have seen some financial analysts predicting a 5% growth for GDP for next year, which would be incredible considering the size of the U.S. economy. We'll see... One major problem seems to be the data centers planned for development. There is a lot of NIMBY as well as power and water demand issues. California, where many already are, has no water or power to spare. Washington state is a possible area for development, and there are already several being built near hydroelectric installations. New England might be possible, but power and NIMBY is a big problem there. Texas is trying, but water and power are both issues there just like California.

 

[Mary Stetler]

You won't see anything of this on the MSM. They only report the negatives when they find them. I have seen some financial analysts predicting a 5% growth for GDP for next year, which would be incredible considering the size of the U.S. economy. We'll see... One major problem seems to be the data centers planned for development. There is a lot of NIMBY as well as power and water demand issues. California, where many already are, has no water or power to spare. Washington state is a possible area for development, and there are already several being built near hydroelectric installations. New England might be possible, but power and NIMBY is a big problem there. Texas is trying, but water and power are both issues there just like California.

They are planning data centers in Wisconsin and adding the cost to our electric bill. We were not given adequate time and info to express our displeasure with the financing.

 

[Don Alaska]

They are planning data centers in Wisconsin and adding the cost to our electric bill. We were not given adequate time and info to express our displeasure with the financing.

Some people believe they will not be built due to public displeasure and that will affect GDP growth and may take down the banks who financed the centers. Who knows? I don't think anyone can see into the future.

 

[Yvonne Smith]

President Trump has just set a cap on credit card interest at 10%, which is much better than what has been happening, with some cards at around 30% interest.
Of course, since Trump said it, the liberals are protesting about it. Now, they re saying that poor people won’t be able to get a credit card because of the low interest rates.
That probably means it would affect people who probably can’t get a credit card anyway. Even with bad credit, you can get a limited card by putting in money, and then having a credit limit to that amount of money, and then after around a year, they will usually turn it into a regular credit card, or at least increase the amount that you can borrow, so people should be able to be as likely to get a credit card as they have been up until now.

 

[Don Alaska]

President Trump has just set a cap on credit card interest at 10%, which is much better than what has been happening, with some cards at around 30% interest.
Of course, since Trump said it, the liberals are protesting about it. Now, they re saying that poor people won’t be able to get a credit card because of the low interest rates.
That probably means it would affect people who probably can’t get a credit card anyway. Even with bad credit, you can get a limited card by putting in money, and then having a credit limit to that amount of money, and then after around a year, they will usually turn it into a regular credit card, or at least increase the amount that you can borrow, so people should be able to be as likely to get a credit card as they have been up until now.

It probably means lower limits for those with low incomes. It will make it harder for them to get into trouble.

 

[Jacob Petersheim]

It probably means lower limits for those with low incomes. It will make it harder for them to get into trouble.

Yes. People have already proven that as a herd most of us will "do the wrong thing" given the slightest pressure. It's almost like they can just never grow up.

The other side of this coin may be to get out of any bank stocks if you have them.

We may well be "cruisin' for a bruisin" economically no matter what anyone does, i.e. a deep recession. How deep and for how long is anyone's guess.

I listened to a podcast panel today that suggests we might see such a drop in buying power of currencies that for a month to six months we might see a time where 100 ounces of silver or an ounce or two of gold will buy a house.