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America's Fiscal Stupidity Mirrors Detroit

Frank130 Wrote: Mar 02, 2013 1:32 PM
Gold & silver are commodities & as the US Dollar declines in value many commodities will go up when priced in terms of paper US Dollars. But the banksters are now trying to suppress the price of gold & silver and at some point economic reality will kick in and the banksters will no longer be able to hold them down. That's why I try to buy more PHYSICAL gold & silver on the dips (not SLV or GLD). If the US & world economies decline or collapse with a decline or collapse in value of the world's reserve currency (US paper Dollars), then I'd think that railroad companies would also see a decline.
Reginald10 Wrote: Mar 02, 2013 3:44 PM
People gotta eat, and the farms are usually far from the eaters. You need railroads to transport food into the urban areas; trucks are OK for small jobs, but are neither fuel-efficient nor fuel - adaptable. Locomotive builders are on their third or fourth "alternate fuel", and none of the previous ones are unavailable now. *We have at least 1000 years worth of coal - and still can build and use steam locomotives. Which can also burn "biomass" or natural gas, just as easily. Try running your truck on wood...
Pistol Wrote: Mar 02, 2013 2:04 PM

The problem I have with precious metals is when times get really tough, they have little immediate practical value. Storable items like toilet paper and .22 ammo that are perishable by use seem to me to have a certain appeal if Weimar-like currency devaluation takes place. A dry place to sleep always has value, so i'm looking for a 3rd mortgage. My SS check may not buy a ham sandwich next year, but it will pay toward my mortgages effectively.

It’s fitting that on the day Washington, DC is cutting the budget by an agreement that they really didn’t mean, that the city of Detroit will finally get what’s it has needed for a long time: declaration of fiscal disaster.

Michigan’s Rick Snyder has appointed an emergency city manager to do for Detroit what Obama, Biden, the UAW, GM, Chrysler, the city’s council and mayor have not been able to even with a $80 billion bailout of the automotive industry.

“Snyder’s decision comes after a state review team report concluded last week that Detroit is in a financial...