Recession Coming?

[MattB]

Berkshire Hathaway's Munger says US is approaching a mild recession. Depressed commercial real estate values and its impact on banks/lending will be key drivers.

Charlie Munger Says US Nearing 'Mild' Recession, But It Won't Be 2008 All Over Again

Charlie Munger, the 99-year-old billionaire and vice chairman of Berkshire Hathaway Inc., expressed his concerns about the United States heading toward another fiscal crisis. In an interview with the Financial Times, Munger highlighted the problematic situation of commercial property loans held...

www.yahoo.com

 

[Flyjunky]

I’m surprised nobody has mentioned the US dollar being dropped by so many countries. How many countries is it up to now, 8, with more saying they will be dropping it as well.

If that happens we will be in a world of hurt like we have never seen before.

 

[MuleyFever]

I’m surprised nobody has mentioned the US dollar being dropped by so many countries. How many countries is it up to now, 8, with more saying they will be dropping it as well.

If that happens we will be in a world of hurt like we have never seen before.

Why is that?

 

[Flyjunky]

Why is that?

Why is the loss of the US dollar as the worlds currency a bad thing?

I don’t think it will happen but if it did the dollar would be worth pennies.

 

[*zap*]

I’m surprised nobody has mentioned the US dollar being dropped by so many countries. How many countries is it up to now, 8, with more saying they will be dropping it as well.

If that happens we will be in a world of hurt like we have never seen before.

I mentioned brics and the st. petersburgh forum happening this june...

 

[MuleyFever]

Why is the loss of the US dollar as the worlds currency a bad thing?

I don’t think it will happen but if it did the dollar would be worth pennies.

Other countries' currencies that dont have the distinction of a worlds currency are not worth pennies. I dont know a lot about this topic but in recent memory there are many currencies that trade for more than 1 dollar.

 

[Bluefish]

The biggest advantage the dollar has is that it’s currently the currency for oil. This locks the usd value to a tangible asset. Without it, the usd will fluctuate more and may lose a lot of value due to the printing of all the $$ over the last few years.

 

[ozyclint]

I’m surprised nobody has mentioned the US dollar being dropped by so many countries. How many countries is it up to now, 8, with more saying they will be dropping it as well.

If that happens we will be in a world of hurt like we have never seen before.

Time to go out and dish up some democracy again?

 

[ozyclint]

The biggest advantage the dollar has is that it’s currently the currency for oil. This locks the usd value to a tangible asset. Without it, the usd will fluctuate more and may lose a lot of value due to the printing of all the $$ over the last few years.

That's why you 'Democracied the $hit out of Gaddafi' in Libya when he wanted to trade oil in a new African gold Dinah.

 

[*zap*]

I bet we see a gold backed currency or a few started in the next few years.
The US dollar goes down = troubles for us all. Jmo

 

[2531usmc]

Time to go out and dish up some democracy again?
View attachment 558668

Worked so well in Iraq and Afghanistan…..