Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Think Progress)   Do you still have money in your bank account? You might want to withdraw it until after October 18th. You see, the thing with bank runs is you don't want to be the last one there   (thinkprogress.org) divider line 234
    More: Scary, bank accounts, Sen. John McCain, Christine Lagarde  
•       •       •

18435 clicks; posted to Main » on 08 Oct 2013 at 5:35 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



234 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all
 
DGS [TotalFark]
2013-10-08 07:14:43 PM  

khyberkitsune: Speaking of Bank Accounts, someone should put some cash in my Google Wallet so I can get some more TF and annoy DGS some more.

EIP.

/not like I couldn't annoy him via e-mail


THAT ANNOYS ME. :D
 
2013-10-08 07:23:47 PM  

Snarcoleptic_Hoosier: I plan on eating my gold.


firstworldfacts.com
Incidentally, this sundae costs $1000.
 
2013-10-08 07:25:53 PM  
Why? Stating that our Country is going down faster than a pro in an alleyway due to deliberate acts of sabotage...and Americans should not react? Um, whatever.

Might want to plead with China not to go balls deep into our country too while you are giving out free advice.
 
2013-10-08 07:26:08 PM  

Isitoveryet: Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry

i never thought about eating my neighbors.


Me, either, till just now...
 
2013-10-08 07:28:16 PM  

RexTalionis: Snarcoleptic_Hoosier: I plan on eating my gold.

[firstworldfacts.com image 850x1084]
Incidentally, this sundae costs $1000.


You could probably recoup a little of that $1,000 by selling what you crap into a bucket after eating the sundae.
 
2013-10-08 07:30:10 PM  
Investing in Gold?  Bah, for the last 3 years I've been transferring all my money into bullets.  Now I just need to buy a gun, and cash in these certificates of bullet ownership.
 
2013-10-08 07:34:47 PM  

Nabb1: shotgun shells just for this scenario. I will rule this new world.


I've got a 55 year old lever action 22 with a clip with a few 40 year old long rifle rounds in it. I'm set.
 
2013-10-08 07:35:22 PM  

Atomic Spunk: jtown:
For gold to have value, there must be an economy.  Gold has very little utility.  You can't eat it.  You can't treat your wounds with it.  You can't heat your hovel with it.

They'd be better off with a stash of booze and drugs to trade for food and clothing.

As long as people are exchanging goods or services, that is the definition of an economy. Bartering is an ineffective way to conduct commerce, which is why societies have created currencies.

As I've said a few times already in this thread, neither I, nor anyone I've ever spoken to, has ever said that gold is the only thing important to have in a doomsday scenario. There are a number of things someone should hold. Gold is just one of many. You can argue that it will be useless, but gold has been used as currency for thousands of years. Sorry, but I choose thousands of years of history over your opinion.


Your "thousands of years" of history is various societies improving efficiency and progressing.  The collapse of society/doomsday is the opposite off that.  What happened to societies that collapsed during these thousands of years?  How did their economies evolve?  Unless you can answer that, we're talking apples and elephants.
 
2013-10-08 07:39:19 PM  

Morchella: a few 40 year old long rifle rounds in it. I'm set.


hahahaha... Nice!
 
2013-10-08 07:45:38 PM  
Despite these warning signs, Republican lawmakers insist a debt ceiling breach would be no big deal. Rep. John Fleming (R-LA) thinks Congress shouldn't listen to economists because "many times they're wrong."

www.gogaminggiant.com
 
2013-10-08 07:46:56 PM  

OnlyM3: Oh look, the left trying fear mongering.

// Nothing is gonna happen (much like their G.W. predictions)


The reserve currency of the world will no longer be worth what the world thought it was.
The collateral that financial institutions use as they borrow from one another (T-Bills) is no longer stable.
They demand other collateral from each other as they loan between them.
There is a crisis of confidence.
The market freezes.

This is serious, and will have systemic global consequences. This is not a gradual shift to another reserve currency like the Euro or the Yuan. This is a shock. 2008 will look like a party compared to this.

I am truly scared that the Tea Party is going to bring a collapse.
 
2013-10-08 08:06:41 PM  

desertfool: This is serious, and will have systemic global consequences. This is not a gradual shift to another reserve currency like the Euro or the Yuan. This is a shock. 2008 will look like a party compared to this.


I heard pretty much that same thing on NPR today.
 
2013-10-08 08:10:48 PM  

RexTalionis: Snarcoleptic_Hoosier: I plan on eating my gold.

[firstworldfacts.com image 850x1084]
Incidentally, this sundae costs $1000.


Mmmm heavy metal poisoning!
 
2013-10-08 08:20:55 PM  

Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.


The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?
 
2013-10-08 08:22:07 PM  

jtown:
Your "thousands of years" of history is various societies improving efficiency and progressing.  The collapse of society/doomsday is the opposite off that.  What happened to societies that collapsed during these thousands of years?  How did their economies evolve?  Unless you can answer that, we're talking apples and elephants.


When societies rebuilt after collapsing, they implemented a currency to facilitate transactions. In many of those rebuilt societies, gold (and silver) was the currency.

Perhaps we are talking past each other because we're not in agreement as to what kind of "doomsday scenario" the other is thinking about. If the doomsday scenario you're talking about is such that there is no hope for rebuilding, and the only thing that is important is survival, then yes, I tend to agree that gold will probably have little value.

But if society does rebuild, there will need to be some sort of currency created. In all likelihood, that currency will be based on gold or silver, because that's the way it's been done for thousands of years, and the properties of gold, in particular, make it well-suited for use as currency. If you want to know the reasons why gold was the best choice for currency throughout history, listen to Mighty_Joe's link above.
 
2013-10-08 08:27:42 PM  

mediablitz: netweavr: People still use cash?

Chinese food place here in town is cash or check only. Several places around like that.


People still use checks?

/Chinese places around here it's cash or card (but the latter only if the total is above XX dollars)
//Mmmmm, shrimp fried rice
 
2013-10-08 08:35:37 PM  

revrendjim: Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.

The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?


Not if you use Republicanmath. Under Republicanmath, it's exponentiating every second.
 
2013-10-08 08:38:10 PM  

PC LOAD LETTER: Mmmm heavy metal poisoning!


At human body temperature and towards all the stuff you find in the human body, metallic gold is so chemically inert it won't even react a little tiny bit. Your digestive system will grind it up a bit and excrete it in small shiny metallic flakes. (Au+1 or Au+3 can cause various toxicities. The sundae above doesn't have those things in it.)

That said, Congress still has a few days to un-fark this here problem. I expect they'll figure out how to do this before the government misses a bond payment. If they don't, and we're all farking doomed, I have a pile of canned food, a revolver, and about 8 gallons of water. Should be able to hold out for a few days on that before the ravenous hordes pillage my tiny household and add it to the Greater Arizona Co-Prosperity Sphere.
 
2013-10-08 08:42:52 PM  
In a true mad max scenario, eight gallons of gas will get me to the family farm. This coming winter would suck, but once spring comes i could learn to garden, i guess.
 
2013-10-08 08:47:10 PM  

Let's get a man who can make a plan work!

mises.org
 
2013-10-08 09:03:44 PM  
I have personally never seen a bank run before.  Wouldn't physics or something get in the way?
 
2013-10-08 09:23:37 PM  
img94.imageshack.us


just made this, kind of proud
 
2013-10-08 09:29:35 PM  

Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry


i.minus.com
 
2013-10-08 09:30:02 PM  

Necessary: You know, I'm pretty sure it's a felony to incite a bank run, or to impugn the financial condition of a federally insured financial institution.  So, yeah.  Maybe let's not do that on Fark.


Unless you're Chuck Schumer or any other yahoo from Capitol Hill.
 
2013-10-08 09:36:12 PM  

OKObserver: I have personally never seen a bank run before.  Wouldn't physics or something get in the way?


These days are very different. If the credit markets seize, and they would if someone declared the U.S. in default, your credit/debit card would simply stop working. Society as you know it would collapse.

This is what those "evil socialist" programs in 2008-9 helped prevent. GE has to borrow to pay their workers and for raw materials and then they pay it back fairly quickly. Short term lending. The Fed became that lender in an emergency. If they actually declare the U.S. in default, that whole scenario goes right out the window because lending as we know it stops immediately. No one would trust anyone and they would question the solvency of everybody.

Basically, all the worst parts of the bible. If the world financial markets can't rely on U.S. debt, the whole system crashes because that's what it's based on. The secret to our power is the U.S. Treasury Bill. And about 13 Aircraft Carrier Battle Groups.
 
2013-10-08 09:43:27 PM  

revrendjim: Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.

The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?


The only pattern here is the Liberal bullshiat detector exploding.  I'll make it very simple for you since I can't show you in crayon:

I'll take Washington's budget for example, since the Left owns our state.  Our budget was 15 billion in 2000 roughly.  It goes up several billion each year now closer to 2013, it is now north of 36 billion.  It went up 1.5 billion last year.  1 billion the year before that.  This year, I will *only* raise it by 900 million, but now I can say we cut taxes at a record level.

You can shove this snake oil up someone else's ass, but reducing the INCREASE is still an INCREASE.  Get back to me when a budget remains steady or decreases (in case you failed 3rd grade math, a decrease would mean spending less money next year than this year, instead of spending only *slightly* less than what you would have blown it up to).

This type of numbers manipulation (which happens on both sides) is criminal.  Almost as criminal as the idiots that use it as a counter point.
 
2013-10-08 09:45:44 PM  
Joke's on them, I just emptied out my bank account to pay down my credit cards.


d'oh.
 
2013-10-08 09:45:46 PM  

Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry


So the zombie apocalypse starts with you apparently.
 
2013-10-08 09:50:50 PM  

netweavr: People still use cash?


If you like untraceable transactions, then yes.
 
2013-10-08 09:52:02 PM  

Necessary: what_now: Stating that Bank of America is a cocksucker is not a felony.

No, but saying, "Bank of America is going to be out of cash on the 18th, so withdraw yours now because BoA won't be able to survive it" might be, particularly if it results in damage to a financial institution.  Just saying "they have bad customer service," perfectly fine.  I said impugning the financial condition, not the quality of operations.


See I wonder about that....

 Since so many people swipe plastic these days, who's to care if there is physical money there or not? It's not like if I buy something with plastic at Target they load up a truck with cash and run it over to Target's corporate office.

 Hell, just look at housing. If they have a house from 2007 that's been foreclosed and was worth $500,000 then, they technically have that $500,000 as an asset (even though it wouldn't sell for that right now.)

Somehow I don't think they care if there is physical money in their vaults so much. 

/now a computer virus? That would probably cause some serious panic.
 
2013-10-08 09:53:06 PM  

Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry


Bingo!
 
2013-10-08 09:57:11 PM  

Fade2black: revrendjim: Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.

The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?

The only pattern here is the Liberal bullshiat detector exploding.  I'll make it very simple for you since I can't show you in crayon:

I'll take Washington's budget for example, since the Left owns our state.  Our budget was 15 billion in 2000 roughly.  It goes up several billion each year now closer to 2013, it is now north of 36 billion.  It went up 1.5 billion last year.  1 billion the year before that.  This year, I will *only* raise it by 900 million, but now I can say we cut taxes at a record level.

You can shove this snake oil up someone else's ass, but reducing the INCREASE is still an INCREASE.  Get back to me when a budget remains steady or decreases (in case you failed 3rd grade math, a decrease would mean spending less money next year than this year, instead of spending only *slightly* less than what you would have blown it up to).

This type of numbers manipulation (which happens on both sides) is criminal.  Almost as criminal as the idiots that use it as a counter point.


You know that a healthy economy grows each year, right? And that means that proportional expenses such as government should be expected to increase each year? You do understand these things, right?
 
2013-10-08 09:59:02 PM  

mr lawson: just remember to fill up your car and every gas can you can find before the 17th.
/value of dollar drops, gas prices increase


Sigh...

 That is probably a good point. 

/annoyed
 
2013-10-08 10:00:24 PM  

NewportBarGuy: OKObserver: I have personally never seen a bank run before.  Wouldn't physics or something get in the way?

These days are very different. If the credit markets seize, and they would if someone declared the U.S. in default, your credit/debit card would simply stop working. Society as you know it would collapse.

This is what those "evil socialist" programs in 2008-9 helped prevent. GE has to borrow to pay their workers and for raw materials and then they pay it back fairly quickly. Short term lending. The Fed became that lender in an emergency. If they actually declare the U.S. in default, that whole scenario goes right out the window because lending as we know it stops immediately. No one would trust anyone and they would question the solvency of everybody.

Basically, all the worst parts of the bible. If the world financial markets can't rely on U.S. debt, the whole system crashes because that's what it's based on. The secret to our power is the U.S. Treasury Bill. And about 13 Aircraft Carrier Battle Groups.


True, but banks -- like most other brick-and-mortar edifices -- are generally incapable of running. If banks could run, or walk, or trot, or waltz, or otherwise physically move under their own volition, we'd have a slightly bigger problem on our hands than Republicans in Congress failing to give the Treasury permission to pay our bills.

/luckily, it probably wouldn't be a problem that could not be solved with 13 Aircraft Carrier Battle Groups
//probably
 
2013-10-08 10:00:38 PM  

revrendjim: Fade2black: revrendjim: Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.

The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?

The only pattern here is the Liberal bullshiat detector exploding.  I'll make it very simple for you since I can't show you in crayon:

I'll take Washington's budget for example, since the Left owns our state.  Our budget was 15 billion in 2000 roughly.  It goes up several billion each year now closer to 2013, it is now north of 36 billion.  It went up 1.5 billion last year.  1 billion the year before that.  This year, I will *only* raise it by 900 million, but now I can say we cut taxes at a record level.

You can shove this snake oil up someone else's ass, but reducing the INCREASE is still an INCREASE.  Get back to me when a budget remains steady or decreases (in case you failed 3rd grade math, a decrease would mean spending less money next year than this year, instead of spending only *slightly* less than what you would have blown it up to).

This type of numbers manipulation (which happens on both sides) is criminal.  Almost as criminal as the idiots that use it as a counter point.

You know that a healthy economy grows each year, right? And that means that proportional expenses such as government should be expected to increase each year? You do understand these things, right?


You still make no light to the original point I make...a decrease of an increase, is still an increase.  Going up by 10, 12, 10, 15, 10, 17, and then going up by 8 and saying WE SPENT LESS is dishonest and a lie...it's still an increase.
 
2013-10-08 10:06:21 PM  

King Something: If banks could run, or walk, or trot, or waltz, or otherwise physically move under their own volition, we'd have a slightly bigger problem on our hands than Republicans in Congress failing to give the Treasury permission to pay our bills.


I like the cut of your jib sir and wish to buy you an alcoholic beverage of your choosing.
 
2013-10-08 10:09:07 PM  

mediablitz: highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.

Oh please. Show me one story on Think Progress with HALF the hyperbole and bullshiat of WND's "Obama the secret Muslim" crap.

Pretending they are the same shames you, not Think Progress.


I don't think that was his point.

 It's not the size of the lie... "I ate an elephant!" vs "Oh yeah, well I ate a *whale*!"

 It's the fact that both are lying.

 Likewise, it's not the size of hyperbole and bullshiat that one side is doing vs the other. It's the fact that both sides are doing it that disgusts people.

And generally, only those who are blindly partisan that fail to understand that.
 
2013-10-08 10:11:18 PM  

Kit Fister: NewportBarGuy: My shorts on the high flying stocks are working, but this sh*t scares the crap out of me. Glancing at the indexes today periodically, I get the sense that the big money guys are looking to build up cash for a big drop so they can buy it. The retail investors are going to get roasted, if they sell into this. But, that much red, if you're loaded up on high flyers, is going to cause you to want to maintain your gains. (No one enjoys watching their big green numbers starting to shrink.)

Of course, none of that matters if we get to 24 hours before the limit. Then we start talking about circuit breakers and thousand point moves. Hell, if we get to Monday, all markets are going to be awash in red like 2008 and 2009. Gold isn't even a safe haven.

This is suicide and the Republicans will not give in on this. Whatever brings them closer to Jesus.

There is going to be a point where the sane ones say fark it and break ranks, I hope. I hope that Boehner is left with his tea party friends holdingthe bag.


Honestly, I think that's what will probably happen.

 But they won't do anything until the last possible second.
 
2013-10-08 10:14:23 PM  

Fade2black: revrendjim: Fade2black: revrendjim: Fade2black: FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?

Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.

The deficit is dropping under Obama, just as it dropped under Clinton. It exploded off the charts under Reagan and Bush. Are you seeing the pattern here?

The only pattern here is the Liberal bullshiat detector exploding.  I'll make it very simple for you since I can't show you in crayon:

I'll take Washington's budget for example, since the Left owns our state.  Our budget was 15 billion in 2000 roughly.  It goes up several billion each year now closer to 2013, it is now north of 36 billion.  It went up 1.5 billion last year.  1 billion the year before that.  This year, I will *only* raise it by 900 million, but now I can say we cut taxes at a record level.

You can shove this snake oil up someone else's ass, but reducing the INCREASE is still an INCREASE.  Get back to me when a budget remains steady or decreases (in case you failed 3rd grade math, a decrease would mean spending less money next year than this year, instead of spending only *slightly* less than what you would have blown it up to).

This type of numbers manipulation (which happens on both sides) is criminal.  Almost as criminal as the idiots that use it as a counter point.

You know that a healthy economy grows each year, right? And that means that proportional expenses such as government should be expected to increase each year? You do understand these things, right?

You still make no light to the original point I make...a decrease of an increase, is still an increase.  Going up by 10, 12, 10, 15, 10, 17, and then going up by 8 and saying WE SPENT LESS is dishonest and a lie... ...


Under Clinton there was a budget surplus.... the government actually "made money".... the federal debt actually dropped adjusted for inflation. Happened after ww2 and during clinton. Twice in our history.

Under Bush, it jumped so farking high off the charts it's going to take a long time to recover. You supported it by voting him in. And agreeing with expanding the executive branch to stop oh no terrorism. Deal with it.

Anybody that isn't doing what Bush did is doing a damn good job already.
 
2013-10-08 10:15:46 PM  
If that truly happens, it would possibly start a revolution. That would not be good...
 
2013-10-08 10:42:27 PM  

gund: Under Clinton there was a budget surplus.... the government actually "made money".... the federal debt actually dropped adjusted for inflation. Happened after ww2 and during clinton. Twice in our history.


That is a lie.
www.brillig.com

Clinton's deficit trick was to be president during one of the largest economic bubbles we'd ever had.
 
2013-10-08 10:50:32 PM  
That chart is not adjusted for inflation.
 
2013-10-08 10:51:15 PM  

Mrbogey: gund: Under Clinton there was a budget surplus.... the government actually "made money".... the federal debt actually dropped adjusted for inflation. Happened after ww2 and during clinton. Twice in our history.

That is a lie.
[www.brillig.com image 474x471]

Clinton's deficit trick was to be president during one of the largest economic bubbles we'd ever had.


He said "adjusted for inflation". He was still incorrect, it hasn't happened twice. It's happened several times in our history.
2.bp.blogspot.com
 
2013-10-08 10:55:05 PM  

Mrbogey: gund: Under Clinton there was a budget surplus.... the government actually "made money".... the federal debt actually dropped adjusted for inflation. Happened after ww2 and during clinton. Twice in our history.

That is a lie.
[www.brillig.com image 474x471]

Clinton's deficit trick was to be president during one of the largest economic bubbles we'd ever had.


It's fun to watch Newt take credit for the surplus that was only kinda sorta there. But whether it was an actual surplus or a slight deficit is almost irrelevant. You can have a slight deficit forever.

You are right that Clinton got to be president during arguably a golden age of growth, but that shouldn't take away from him too much, as the expected value would be to just overspend that much more.
 
2013-10-08 10:59:10 PM  

RexTalionis: uncoveror: Whether it is in your hands or in a bank, a fiat currency that has lost its value is still worthless. You need something with intrinsic value, like silver and gold.

Silver and gold have no intrinsic value. The value they have are what you assign to it, nothing more, nothing less.


That's why I'm hoarding bottlecaps.
 
2013-10-08 11:08:50 PM  

highendmighty: mediablitz: highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.

Oh please. Show me one story on Think Progress with HALF the hyperbole and bullshiat of WND's "Obama the secret Muslim" crap.

Pretending they are the same shames you, not Think Progress.

It's all in the tone.  The two are equivalent.  You seem to have mastered and revel in it.


Ah, "tone," that arbitrary mechanism that morons fall back on when they can't make a rebuttal based on substance.
 
KIA
2013-10-08 11:11:44 PM  

Ricardo Klement: You are right that Clinton got to be president during arguably a golden age of growth, but that shouldn't take away from him too much, as the expected value would be to just overspend that much more.


And you had a Republican House to thank then too.
 
2013-10-08 11:12:05 PM  

Atomic Spunk: He said "adjusted for inflation".


Adjusted for dollars in 2000? So, your sh*t is 14 years old. Nice! You fail, asshole. I can read and sh*t.

Also, how much of that debt is putting Iraq on the books? Because they did not do that until Obama arrived. Then ran the place like Lehman Bros. Debt? What debt?
 
2013-10-08 11:17:21 PM  

KIA: Ricardo Klement: You are right that Clinton got to be president during arguably a golden age of growth, but that shouldn't take away from him too much, as the expected value would be to just overspend that much more.

And you had a Republican House to thank then too.


Yes, well, people tend to put it all on the president.

/Actually, they tend to put it on whoever is convenient for the argument.
 
2013-10-08 11:18:02 PM  

jtown: Atomic Spunk: Isitoveryet: mediablitz: I don't need money. I have these certificates saying I own gold. My plan is foolproof.

this is my goto argument with the "gold will always have value" crowd (in terms of apocalyptic scenarios).

first ask them if they've invested in gold, then continue with the "and how much gold do you have in your possession" blow.

then ask them to explain how they plan on gaining access to their gold.

they usually shrug, hard to actually counter on that one.

/yes investing in it can yield substantial returns

I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

[t3.gstatic.com image 231x218]

For gold to have value, there must be an economy.  Gold has very little utility.  You can't eat it.  You can't treat your wounds with it.  You can't heat your hovel with it.

They'd be better off with a stash of booze and drugs to trade for food and clothing.


They can take it to another country, cash in and buy a whole lot of dollars though. Then come back and buy your booze and drugs for pennies on the dollar - and the dollar might not be worth much by then.
 
Displayed 50 of 234 comments

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report