Stansberry's "End of Obama"
My father has just bought into this this:
I fear he might make some rash decisions with the family's finances.
What now?
Re: Stansberry's "End of Obama"
When does he talk about his securities fraud?
Tell your father not to listen to a man with irons in the fire.
Re: Stansberry's "End of Obama"
Well, I've convinced him not to do anything hasty, at least...
Quote:
Tell your father not to listen to a man with irons in the fire.
Sure, I mentioned that, but my father's reaction was something like, 'He's a crook but he's still telling the truth, I know it!'
:shrug:
Re: Stansberry's "End of Obama"
Hard sell!
These same doom predictions have been around since I was in diapers.
Fear! Solution! Just send money...
I recommend: Pound Foolish: Exposing the Dark Side of the Personal Finance Industry; Helaine Olen
http://www.amazon.ca/Pound-Foolish-E.../dp/1591844894
Re: Stansberry's "End of Obama"
Quote:
Originally Posted by Wiki
Stansberry's 2011 online video and infomercial titled "End of America" paints a grim picture of the financial future of the United States.[2][3] The 77-minute video forecasts the end of America's global economic dominance, which Stansberry predicts might possibly result in rioting and protests across the country.[7]
In the video and other articles and interviews, Stansberry warns that the American dollar will stop being accepted as the global currency, and that this process has already started.[12][18] He criticizes high U.S. government debt as a cause for this.[7] To prepare for the economic collapse, he advises stocking up on gold and silver, moving assets abroad, and pursuing bearish investment strategies. He also advises stocking up food, water, and other basic supplies away from urban areas.[19]
Financial website The Motley Fool concluded that "Stansberry’s core argument is sound ... although it’s not quite as dire as he would like you to believe."[19]
Stansberry had taken a consistently bearish view of the economy, arguing that stock-market growth reflects inflationary momentum rather than real economic recovery, and that current stability in the U.S. Treasury market is a bubble.[14][19][20] In 2012, however, he predicted that, beginning in 2015, there would be "a new age of American prosperity, the likes of which we haven't seen in decades",[21] due to a petroleum and natural gas boom. He added that one effect of this prosperity would be that Barack Obama would be able to obtain a third term as President of the United States either directly, although the Twenty-second Amendment sets a two-term limit, or by having his wife Michelle Obama get elected.[21]
Thankfully, the fact that Stansberry is clearly a wacko and the demonstrable fact that America's borrowing costs are the same as or lower than they were when this video was made (in 2011) seem to have put some doubt into the old man.
At least he no longer thinks that I'm "in denial like the Jews in Germany in the '30s"...
:logic:
