I'm naive in thinking and hoping that your treasured country would suffer little impact from this falling economy.
There are closures every day now. I worry about our family business where 4 of us are employed. I could get really anxious but I have a little book by my bedside 'God Calling' and whenever I fell troubled I read it at random and I am always comforted. I am planning to start getting a garden patch prepared this weekend and I am changing to a gas cooker and getting in some extra bottles. Just a precaution for now. I was reading Mark Mallett today and he is comparing whats happening to the fall of Bablyon. The more entwined we are with the society the worse it will be so we need to set ourselves apart and pray and prepare. Mary
There is certainly the weirdest dream like quality to present events, its like you have to nip yourself to see if you're not dreaming. :shock:
Maryrose, I can't believe you have God Calling! It's such an obscure little book...but what a life line. Is your weather such that you can start a garden now? During our weekend we were in the 20's (F) at night and that's in California! I have a walking friend who shares not only his crop with me but the good advice of a seasoned gardner. He loves to help and I will enlist it this spring. Mary we'll pray that your business is spared harsh times. Lee
Lee Its -7c at night here at the moment so I wont be sowing anything but I have walled in paddock that I will start to prepare by getting it ploughed up and I will get a rotovater to get the ground ready for some planting in March /April P.G. Thats the plan anyway. Thanks for the prayers, so appreciated. Mary
There is a clear and simple Index by which to evaluate the future of the economy. It is called the Baltic Dry Index. It records on a graph the average costs for the moving of raw materials in large cargo ships. Low prices indicate that there is little business and these idle freighters are attempting to attract business. Since the shipping of raw materials occurs at the start of the manufaxturing cycle, low prices indicate little economic growth in the next half year or so. www.investmenttools.com/futures/bdi_bal ... _index.htm Click on this and you will gain access to charts which show the average shipping cost has plummeted from about $11,000 in July to about $800 today. This is an Index that can't lie or be manipulated; things simply don't look good for this year. Some preparation would be prudent! Safe in the Hearts of Jesus and Mary!
Terry, the BBC did a programme on a large American port...I think its San Francisco From being just about the busiest in the world it looked half empty. I was very,very struck by the young port director he was saying it will be all right by the end of this year . Poor, poor man he gave no reason for this he was just being hopeful, all that trade from the Pacific; just gone. All those years of prayerful reflection on what was to come and now seeing it before our very eyes. I must admit it does seem like a dream still. Thank God though that His blessed Mother has called us to reflect on the Signs of the Times, it gives such insight and peace. I am trying to fast most gays at the minute and am spending much more time in active prayer. Our Lady showed me last night that my prayers are like many leaves on a tree, I must turn my eyes on Herself completly and so pluck each leaf of worry from them one by one, peacefully. I am praying for you all at this time. May God give you all the material goods you need to see you through. I feel guitly to say it but I am off work today and off to an interview for a new job at another hospital with a promotion!! I am in the happy position of having a job still and going for a much better one!! Happy fate in sad times. If I get it I'll be happy if I don't I'll be happy too.
Dell the biggest employer in my city of est. 80,000 souls (Limerick) has laid off 2000 people this morning. The knock on affect on industries supporting this operation is being estimated at 10,000. There is a pall of depression and fear over our city this morning. I worked for Dell for many years in the IT Department and I know so many couples working there with mortgages and young families. I am praying for them please think of all those who must cope with this news on a daily basis. Mary
I'm praying! Padraig, I'm all for moving forward and earning more according to experience and skill, but I'm also praying that you will impact the lives of others for Christ! Go for it! Safe in the Hearts of Jesus and Mary!
Padraig, keep us posted on the job and the outcome. Maryrose, I lift all the Dell and other employees up in prayer. God knows what they need, I pray they know that they need God. It just wrenches my heart to hear of this...and I know it's gaining momentum.
Lee, Thanks for the prayers. I too am praying that all who are in this situation will be helped by the grace of God. On a brighter note I had all the men in my family digging a garden today. Its been ploughed and is now ready for the next step. God bless Mary
Gulp! Oh no! Mario's posting in that thread again! Sigh. As reiterated before, I am personally expecting the current deflationary cycle to continue, contributing to a deepening economic collapse. At some point hyperinflation will kick in because the monetary base is expanding exponentially. For example, a mere six months ago the base stood at $48 billion. It has grown to well over $600 billion since then. This logically will implode our currency (the dollar), if the trajectory is not radically reversed. Now my daughter, Rachel, made what seemed a reasonable deduction that this should not affect one's ability to pay debts because both assets and debts are dollar-denominated and will move in the same direction. Thus, the buying power of dollars may be affected negatively, but not the debt-paying power of our dollars. I had to agree with that line of argument, pending further research. Here's what further research has uncovered: In the last 25 years, Argentina has seen similar monetary developments that the US and Europe (particularly Great Britain) have recently experienced. In the late 1980s, they faced a ballooning deficit with acompanying bank paralysis because the banks shared half the burden of debt. Our current situation is similar in that our banking system is burdened by debt and near systemic collapse. What is the current prevailing wisdom: let the government step in and nationalize (absorb) the banks' bad debt to get the machinery of the economy rolling again. President Bush initiated this approach and it appears President Obama will continue it. Well, lo and behold, the same approach was taken in Argentina! President Bush Sr. visited and made arrangements for the IMF to come to the rescue. Of course, initially, Argentina agreed to nationalize the current bank debt at that time so as to facilitate the greasing of the economic machinery. And what happened? Hyperinflation. And what happened when hyperinflation hit. The Argentina currency fell, and foreign investor demanded payment. The Argentina government responded by freezing people's access to savings accounts and investment instruments because after all, the debt had been nationalized! The people's money was then used to help pay the foreign investors! The people lost and the banks won. Is not the pattern we now seem very similar? Is not the secrecy surrounding the Federal Reserve's dolling out of trillions of dollars a mockery of transparency? Well, Geralyn and I are praying about what to do with our dollar-denominated assets (savings bonds included). If in the future, we can't access them, they will only serve us and the Kingdom well, if we use them now. Here are some questions Geralyn and I are asking? What will Rachel think of me, now? How soon will my hip heal so I can run to the bank? :lol: What tools for living more simply should be acquired now? What essential improvements need to be made to our property? What agencies, Churches, and/or individuals need monetary assistance now? What instruments can we move some dollar-dominated assets into for the sake of our children's short-term future? May the Lord grant us wisdom and may Mary, the Seat of Wisdom, pray for us! For those who think the O'Loughlins are extreme, guess what? I'll love you, pray for you, laugh with you, and cry with you, anyway!! Hallelujah!
Mario, we are at the point of nationalising our banks. One has been already resulting in massive losses to shareholders. Our other major banks are being recapitalised this week. I notice sales are ongoing and slashing prices still. My son went to buy a pair of shoes this week. He is a regular size 9. There were none left and the shop owner has no plans to restock at the moment. He tried every shoe shop in the city. He has a shop owner he is friendly with specially placing an order for him now. I think a lot of the shops re hanging on to sell off their remaining stock and then most will close their doors. I suppose hyperinflation will set in then. This is probably a good time to stock up on stuff to cover the next few years as everything is going to get much more expensive. I used to get stressed out everytime I read this topic but I am starting to grapple with it so you are doing me a service getting me think about this subject. My only problem is I dont have a stach in the bank to spend now so I am depending on Our lady to help us through and get ready the best I can.
Listening to the news again tonight, the economic situation seems to be getting more and more out of hand every passing day. I was talking to a guy last night who told me that his father had for over thirty years worked in Waterford Crystal (or Waterford Wedgewood) and, like many others, now faces immediate redundancy, with no pension, and shares valued at zero. I feel that people, especially businesses and companies, are beginning to panic, for the losses and redundancies are coming thick and fast, and there is indeed a sense of urgency in society at the moment. People are now beginning to realise that tough times are to come. It's easy to sit here and observe; so many out there are facing a nightmarish situation as we speak. Big houses, whopping mortgages, and now, jobless. On the way home from college last night I happened to turn on the radio and a discussion was in full flight about Catholicism and the economic crisis. Several callers, fair play to them, had phoned the presenter to assert that through it all, it is faith in God that gets us along, not monetary worries. The presenter was having none of it, though. Speculation was prompted that a recessive situation would cause many to return to God, since many now seek comfort, and many distractions of society have been removed. Isn't it amazing that even some die-hard agnostics can still drop on their knees and beg for help when they really need it? I'm probably rambling here, but I'm sure there's a particular character in our souls that connects us to God, though for some, this connection may be deep down inside. Seán
Hey Terry, Saw this link on SpiritDaily today: http://www.321gold.com/editorials/schif ... 20909.html I was wondering if you had any further thoughts? Darrell
I was thinking of buying Gold as a precaution. What is the best way of investing in Gold? Does anyone on the forum have sound advice in this regard?
Garabandal, I can give advice. It's up to you to decide whether or not it's sound. In my initial research leading up to our purchase of precious medals, I previewed the following companies: Goldline, Kitco, and APMEX. I also sat done with a good friend, Tom Cavanaugh, and discussed the alternatives. Here's what Geralyn and I decided: We bought a 60/40 mix of gold/silver from APMEX. The gold we bought in 1 oz. denominated coins. We will hold these into what I believe will be a hyperinflationary period that will push gold above $3000/oz. I haven't decided what currency I will exchange for the gold at that point. The silver we bought in 1 oz. denominated coins and also 10 oz. denominated bars. If there is a sudden collapse of the US Dollar, I think there is a chance the silver coins might be accepted as legal tender on the street, based on the market's daily valuation. In any case, the silver is more flexible than gold because of its price. In the hyperinflationary period, silver probably won't appreciate as much as gold, but could reach at least $25 oz. Now, my estimations don't carry much weight, though I've heard such figures from the experts. All I know is that gold has, without fail, been a safe haven during periods of inflation. Remember, there is a 5-10% markup when purchasing precious metals and a corresponding markdown when selling. Obviously, the companies want to make a profit. I don't know what companies are physically shipping metals on the Emerald Isle. By the way, since mid-January silver has climbed from $10.50 to $13.67/oz. and gold from $810 to $942/oz. Sooner or later, it will go much higher IMHO. As always, my true wealth remains in Christ and Him alone! Safe in the Hearts of Jesus and Mary!
the thread that just won't die I found this yesterday: In summary: secular capitalist: bad Christian capitalist: good Then today on SpiritDaily: http://catholicexchange.com/2009/05/12/118497/ I'm reminded of a line from a favorite movie, Broken Trail: Darrell
Re: the thread that just won't die Darrell, The first point of the video, lack of contentment, struck home for me and reminded me of Paul: 2Tim 6:6-7 There is great gain in godliness with contentment; for we brought nothing into the world and we cannot take anything out of the world. I believe there is an essential link between godliness and contentment. Godliness helps us consider material goods from an eternal perspective which, in turn, cultivates detachment. If I'm detached from earthly goods, then I do not hoard, but distribute them for the benefit of others. Pr 14:31 He who oppresses the poor man insults his Maker, but he who is kind to the needy honors Him. This attitude has been sorely lacking among CEOs of late. But, then again, when it comes to my family's acreage I feel reluctant to let go. May I be slow to point fingers! Safe in the Hearts of Jesus and Mary!
