While I was in Nevada last week, I met a man from Oregon who said that Rose Bowl tickets were selling for 1500 dollars. I watched the game for free in the nice warm confines of the casino.
Who pays 1500 dollars for three hours of entertainment? What kind of idiocy makes someone rationalize that watching a college football game for 500 bucks an hour is a worthwhile expenditure?
That's the America I live in now. A hundred thousand people with so much money that they can waste it on shit like that. As a libertarian, I support your right to waste your money anyway that you choose. Here's a comment I snipped from the Economic Collapse Blog. This gal has some sense of priorities which did not include wasting half a months net salary on a sporting event.
Keep up the good work! I am tired of trying to wake people up. My husband and I are only concerned with ourselves (and others who have seen the light). The collapse is coming and its going to be BAD.
Instead of spending $500-$1000 on Atlanta Falcons tickets (yes we had friends that spent that last night for a football game) we took that money and bought more PM and supplies. Its called priorities.
Our "Baroness" has her priorities more in line with the times. I conjure up a picture in my mind of Nero and a nation of idiots paying vast sums for entertainment- fiddling while Rome burns. It reminds me of that bizarre scene in the movie Titanic. The band comes out onto the deck of ship while it is sinking- as though somehow that was the appropriate thing to do.
The Baroness is buying precious metals. The other day on the blog I had a commenter tell me that the government will simply change the rules and outlaw precious metals if the currency collapses. I laugh when I hear that. The government seized gold once. But this time it is different. Nobody is going to turn in their precious metals. I'm not. And the government can pass all of the laws they want- trying to keep us scared and paying us with worthless paper. They're not going to like the metal they get from me.
I have upped my cash conversion levels to 40% precious metals. My deadline is June of this year. Why June? Well that's when the FED and Bernanke wrap up QE2 and the great bank stock buying holiday draws to a close. At that point, the banks still won't be solvent, the economy still won't turn around, tax receipts for the first 9 months are going to come up another trillion short, all those Ca. mortgages begin to reset higher, taxes will ratchet up, inflation and oil will ratchet up (T Boone Pickens is calling it north of 150.00), and the FED is going to have to try QE3. The resistance will be tremendous. Our debt level at that point will be beyond 15 trillion with no end in sight.
Gold and silver took a big hit when the CFTC ruled in favor of big banks once again (Big Surprise!) last week. Apparently they can short silver markets beyond available and existing supply. Option holders should take delivery of the underlying commodity. The underlying commodity is no longer of any consequence. I see this as a huge buying opportunity. Gold and silver may go down a bit further, I'd love to see sub 1300 gold and buy a couple more ounces. Sub 25.00 silver means I'd double my amount.
I love it when people spending 1500 bucks on a football game call me crazy for spending my money on precious metals. Ain't that just rich?