Has anyone heard of this?

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frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Has anyone heard of this?

Post by frugalmom » Thu Sep 17, 2015 12:14 pm

Ok this is not a gloom and doom thread-at least I don't think so-lol! Anyway, has anyone heard That Oct or this winter is the start of bad things for our economy. One person estimates around Oct7 it will start( he states estimated date) and will last til 2020 and Dollar will
Plunge around October 20. Idk if there are federal reserve meetings or IMF meetings set for these dates and why they think something will happen. And there is convergence of different graphs like Kondratieff( can't spell it) and other graphs converging together in this time period that says something will happen. One place I heard this is Money and Markets by Weiss and Larry Edelson but others have also said this. Not in mainstream news I am sure but already volatility in markets since Sept.

So what have you heard if anything? You think Chicken Little again? I had mentioned before I thought 2015 would be start of something big and although I said I don't think hyper inflationary scenario I do think it will be food prices will rise to more aligned with Europe and other nations where it will take a bigger chunk of our personal income and I think gas will also eventually go up although it is in glut now. And also things we need and rely on going up and even though real estate is doing well I think when economy suffers it will plummet once again- I see a bubble forming once again. But that is my EllenMarie forecast and I am by no means an expert or an economist( hey but I forecasted last recession with real estate plunging the last time before it happened so lol I may have been better than some experts who were wrong- it was just getting too crazy that time- things did not make sense or add up- I watch the trends!). Job market not good either- HP for instance laying off a significant portion of their employees! Tech will go down big time if economy crashes imho. Ok my forecast.....

gaylejackson2
Posts: 2064
Joined: Tue Sep 08, 2015 1:13 pm
Location: Utah

Re: Has anyone heard of this?

Post by gaylejackson2 » Thu Sep 17, 2015 12:35 pm

Isn't the economy already bad? Well its on the bad side here at least... last year at this time, unemployment was 2%, now its 7.6% and the story going around that it may hit 8% by month's end.

I'd say Chicken Little but I really don't listen/read much financial news... not because I'm sticking my head in the sand, but I just really don't have the time between child care and canning, right now. I just know what dh tells me, and what I catch on the evening news.

Gayle

frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Re: Has anyone heard of this?

Post by frugalmom » Thu Sep 17, 2015 1:22 pm

Yes it never fully recovered- look at our dismal savings rate and of course credit card rates are astronomical( luckily I pay mine off each month so it doesn't matter to me). Of course it is horrible for people who don't have jobs, etc. plus the U.S. Is trillions in debt and I think many consumers so that cannot be good and all around the world-China, Greece, Europe, etc are in trouble as well and like dominoes falling. I wonder why if we all make the money and print the money and everyone fails why can't we do a reset?! Maybe I am too simple in my thinking, but everyone start all over!

floridacatlover
Posts: 2927
Joined: Fri Aug 28, 2015 7:21 am

Re: Has anyone heard of this?

Post by floridacatlover » Thu Sep 17, 2015 4:59 pm

EllenMarie wrote:Ok this is not a gloom and doom thread-at least I don't think so-lol! Anyway, has anyone heard That Oct or this winter is the start of bad things for our economy. One person estimates around Oct7 it will start( he states estimated date) and will last til 2020 and Dollar will
Plunge around October 20. Idk if there are federal reserve meetings or IMF meetings set for these dates and why they think something will happen. And there is convergence of different graphs like Kondratieff( can't spell it) and other graphs converging together in this time period that says something will happen. One place I heard this is Money and Markets by Weiss and Larry Edelson but others have also said this. Not in mainstream news I am sure but already volatility in markets since Sept.

So what have you heard if anything? You think Chicken Little again? I had mentioned before I thought 2015 would be start of something big and although I said I don't think hyper inflationary scenario I do think it will be food prices will rise to more aligned with Europe and other nations where it will take a bigger chunk of our personal income and I think gas will also eventually go up although it is in glut now. And also things we need and rely on going up and even though real estate is doing well I think when economy suffers it will plummet once again- I see a bubble forming once again. But that is my EllenMarie forecast and I am by no means an expert or an economist( hey but I forecasted last recession with real estate plunging the last time before it happened so lol I may have been better than some experts who were wrong- it was just getting too crazy that time- things did not make sense or add up- I watch the trends!). Job market not good either- HP for instance laying off a significant portion of their employees! Tech will go down big time if economy crashes imho. Ok my forecast.....
I'm no expert, but I do try to follow the financial news. My mom listens to AM radio in bed and heard similar information and it scared her. I researched the name of the guy she mentioned and it was someone touting gold. I looked up the names you mentioned you heard and they too are touting gold. You probably know that gold has fallen well off its high so I guess it is not surprising that the gold salespeople are out in full force. (I found that the guy my mom heard has been singing the same "economic collapse" warning since 2012.)

Personally I'm disgusted that these people scare gullible older people like my mom. (Luckily she has me to research the info for her.) So who knows, but for me I'm sticking with my mutual funds which have been very rewarding over the years. I'm fully expecting more volatility and a correction after 6-7 years of growth. (Market is flat so far this year.) But I've been successful as a long-term investor (but a conservative one) so that is what I will continue to do. Just my take on it.
Last edited by floridacatlover on Fri Sep 18, 2015 12:06 am, edited 1 time in total.

DesertNay
Posts: 41
Joined: Sat Aug 29, 2015 7:25 pm

Re: Has anyone heard of this?

Post by DesertNay » Thu Sep 17, 2015 7:08 pm

Historically, October can be a volatile month. Remember the 1929 was in October as was the crash in 1987. However, in my opinion, I am not selling anything, but will use any stock market decline to buy.

The stock market has nearly tripled since 2008, so a correction would be healthy. We have had a mini one these past few months and over all, the market hasn't gained anything year to date.

Janet Yellen didn't raise the interest rate at the Fed meeting today, because we are still below 2% inflation. Food is expensive, but everything else such as the price of gas has kept the inflation rate low.

Research the people who always talk about a scary scenario on the horizon to see if they have a hidden agenda, like selling gold, etc.

colonialgirl
Posts: 1521
Joined: Sat Aug 29, 2015 2:01 am
Location: Central Illinois

Re: Has anyone heard of this?

Post by colonialgirl » Thu Sep 17, 2015 9:33 pm

just want to say if someone was "psychic" enough to be able to tell you to the day when economic downturns would occur, why would he be wasting his time writing articles for the internet? Wouldn't he, the smartest, luckiest person on earth, be living on his private island enjoying his billions?

When ANYONE is telling you they KNOW what is happening with the economy, they are lying. It is a market economy with long term trend forecasts but absolutely NO certainties.

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