We will probably see QID at 70 or higher as this all plays out in the next couple of months... We'll see a DOW 7000 or lower when this fully implodes in a hyperinflation scenario.
I'm buying and stocking up on food right now... we're putting up storage for 4 years as we speak... This is one prediction that I hope I'm wrong on but not willing to sit back and wait to see if I needed it or not. We're already seeing ominous signs that the food situation globally is at a crisis level and worsening. Biofuels and global crop failures have cut the world food reserves to almost zero while demand is growing. Mr. Malthus hit the proverbial nail absolutely on the head.
A bit extreme. Malthus was two centuries ago, and he's hit far more thumbs than nails since then. As long as the planet is capable of generating plant and animal life, we're more likely to cultivate it than kill for it. And Malthus was talking before the pill and before the present admittedly large population forced nations to acknowledge that there are both limits and rules when it comes to consumption disproportionate the planet's ability to support it. I might stock up some extra cans for my dog's sake, but I'm not worried about me and my family. If I see my neighbors walking around with AK-47s, I might change my mind. At least they'll no longer have the support of Charlie Heston.
I read the same stories--but the crisis is based on capitalistic greed, not actual shortages. If you're the guy who has the food, you'll be the guy the rest of us, with our AK-47s, will be coming after.
You come nosing around this neck of the woods with an Ak-47 on your shoulder... You'll have your hands full my friend. We ain't a bunch of city slicks around here. This area is armed to the teeth... and most of us are veterans that actually know how to use them and not just talk about using them.
Hey, very_viking; wasn't it the 70's when we were being warned about to much world population vs food supply? I've seen the rise in price in the grocery stores and the products I buy in my snack vending business. Price increases are closer to 15-20%, not just 3%.............I also mentioned last night that meat department prices will go up as farmers choose to sell their corn for $6 a bushel rather than feed their livestock with it. Actually this was quickly mentioned on CNBC about an hour ago..............very_viking; are you from the upper midwest? (Minnesota Viking fan?) I just moved to Vegas late last summer from eastern South Dakota. Still have a son in the area, who is working on his Master's degree and playing mini-tour gold in the summer. Yes, we are Viking and Twin fans.
Actually not from MN or midwest... am a swede that was born and raised on the Oregon coast where we built boats and fished. Family was one of the first to fish king crab in Alaska way back when. We recently moved to SW Utah from Calif about 4 years ago so we're actually neighbors. My wife and I are avid poker players so we are in Vegas and Mesquite regularly.
To support what you are saying about the beef situation... we were at Costco in St George the other day and I stayed in the truck with our pup while my wife went shopping. A brand new Escalade parked next to us and the guy went in and returned with one of those flat carts full of those pails of survival food. He was in his 70's and it peaked my curiosity so I got out and started up a conversation with him. He said he was a rancher and had operations in both Montana and Wyoming and that right now they were literally giving their cattle away because they cannot find feed. He said all the ranchers are dumping for whatever they can get for them right now.
His read was that we'd see some lower beef prices for a couple months and then we won't be able to buy even a soup bone in thatlatter part of the year. He was also stocking up on food and agreed with me that he'd never seen things looking more dire in his lifetime either.
Hate to be alarmist... but getting hungry is an alarming thing. I've survived 2 tours in Vietnam in the Marine Corps... was a bush pilot up in the artic for many years for the oil patch... cut timber as a kid... fished the Bering Sea... so not much scares me at this age. But getting hungry is as frightening as it gets. We can survive almost anything but when the food disappears that's a hard addiction to kick.