Five Impossible Thoughts After Breakfast 22 comments
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Everything is possible now with the unraveling speed of Wall Street's 700 trillion derivatives. Which of the following scenario may come true? Maybe all of them.
- Dow at 3500 in 2011.
- Gold at 5000 in 2016.
- S&P 500 bottoms at 400.
- The economic depression lasts more than 20 years until 2032/2033. This is not coming from me, but from the best economist that I know.
- All major banks nationalized at 80% or more, with stocks trading at penny levels by the end of 2009, continuing to extract hundred of billions every quarter from taxpayers to cover their derivative losses. Why is there no one outraged by benefits going to all the counterparties of the banks? The losses of the banks are the gains for the counter parties of the banks, which are being paid by all the US taxpayers, and eventually by the entire world through monetization and inflation.
My own crystal ball is showing me that the stock markets will literally plummet another 50% to 60% in the second half of 2009, deflating everything until 2011, after which inflation gradually accelerates towards 2016, and wipes out all the cash holders. I predict in less than 15 years, there will be a hungry and unemployed mob rioting in the streets of Washington DC.
The other day, I donated more to Ron Paul’s call on fighting against misusing of taxpayers’ money. The American Republic is becoming a farce of preferential money distribution. Although intellectually I believe that US will not come out of this unstoppable economic mess until wrecking itself, emotionally I must “do my part” of trying to turn things around. Who else will turn USA around, if everyone of us don’t stand up and fight together? There will be no one saving this country from even dire economic except us.
I understand that it sounds almost stupid to consider the impossibility of my little donation and my lonely voice making any difference to the fate of this nation. But when I ask “who else” to myself, I think I might as well begin with myself, joining hands with Ron Paul’s campaign. I’m literally a “hopeless romantic”. But who says (my) love (for the nation) needs to be logical?
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This article has 22 comments:
As most Americans have at one time or another known or faced bankruptcy themselves, they will easily understand the concept of putting the banks in receivership.
As for the notion that the counter parties or not identified by the Fed and the Treasury, those are public facts that any Senator or Congressman could make available. It is the pervasive corruption of our legislatures that keeps this from happening.
This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory.
> As most Americans have at one time or another known or faced bankruptcy
> themselves, they will easily understand the concept of putting the
> banks in receivership.
>
What circles do you move in? I am not aware of a single person I know who has filed bankruptcy. I am sure that are some and I just don't know it, but to say "most" seems a little excessive.
I have to agree with the other comments that "gold $5000 by 2016" does seems to designed to create panic. Panic, that is, in gold bugs who hope for it to get there much early.
Trevor is amazing and I wouldn't hesitate to contribute, but just for the sake of clarity....Trevor is who you're joining hands with, not Ron Paul.
I am Irish, and he does not deserve an O in front
Where is Bush, Bush, Reagan, Ford, even Nixon when we truly need them
Why not be a bit more realistic instead:
Dow at 500 by 2011
Gold at 50,000 by 2012...and
S& P bottoms at 5
Plus "economic depression lasts one century" (after which Global Warming and Environmental Catastrophe finish the job) and all major
banks are NOT nationalized but are instead simply shut down as we revert to barter trade and hunting and gathering (of course aided by the Internet and satellites in locating suitable low-hanging fruits and quarry)
Oh and I forgot....A new Chinese fascist empire will also take over the world after a Nuclear War designed to obliterate it fails to achieve its objectives. (but first the WTO probably will need to be disbanded)
The above TRUE VISION (arrived at without taking any hallucinogenic drugs of course) will provide plenty of work for everyone to do and will therefore extremely quickly take us out of the recession! Thus creating a slight paradox. But I am sure one not at all beyond the solution imagination and powers of the author.
And please DO keep up the good work since great entertainment is often the best cure for depressing scenarios!
Why not be a bit more realistic instead:
Dow at 500 by 2011
Gold at 50,000 by 2012...and
S& P bottoms at 5
Plus "economic depression lasts one century" (after which Global Warming and Environmental Catastrophe finish the job) and all major
banks are NOT nationalized but are instead simply shut down as we revert to barter trade and hunting and gathering (of course aided by the Internet and satellites in locating suitable low-hanging fruits -like the author- and quarry)
Oh and I forgot....A new Chinese fascist empire will also take over the world after a Nuclear War designed to obliterate it fails to achieve its objectives. (but first the WTO probably will need to be disbanded)
The above TRUE VISION (arrived at without taking any hallucinogenic drugs of course) will provide plenty of work for everyone to do and will therefore extremely quickly take us out of the recession! Thus creating a slight paradox. But I am sure one not at all beyond the solution imagination and powers of the author.
And please DO keep up the good work since great entertainment is often the best cure for "depressing" depression scenarios!
Now I think the task of utmost importance is to spread the word to let people prepare for what's coming! Forget studying Elliot waves and stuff. It's time to learn some useful skills. As another prophecy Jim Rogers suggests learn some farming. I think mushroom farming would be a good choice.
On Mar 08 01:57 AM max12345 wrote:
> I can't quite understand why the good author is being so excessively
> optimistic! (it must be his highly developed theoretical and predictive
> model)
>
> Why not be a bit more realistic instead:
>
> Dow at 500 by 2011
> Gold at 50,000 by 2012...and
> S& P bottoms at 5
>
> Plus "economic depression lasts one century" (after which Global
> Warming and Environmental Catastrophe finish the job) and all major
>
> banks are NOT nationalized but are instead simply shut down as we
> revert to barter trade and hunting and gathering (of course aided
> by the Internet and satellites in locating suitable low-hanging fruits
> and quarry)
>
> Oh and I forgot....A new Chinese fascist empire will also take over
> the world after a Nuclear War designed to obliterate it fails to
> achieve its objectives. (but first the WTO probably will need to
> be disbanded)
>
> The above TRUE VISION (arrived at without taking any hallucinogenic
> drugs of course) will provide plenty of work for everyone to do
> and will therefore extremely quickly take us out of the recession!
> Thus creating a slight paradox. But I am sure one not at all beyond
> the solution imagination and powers of the author.
>
> And please DO keep up the good work since great entertainment is
> often the best cure for depressing scenarios!
>
To the author of this piece-leave the Country!
I'm glad spring is here. People will spend in the spring and get away from their computers and the so called experts.
The arrogance of the American public is dumbfounding.
Your economy is in absolute self-caused shambles, you have infected the globe with your toxic scams, billion upon billions spent warring on people, while you sat your SUV's or Volvo's waiting for a parking spot at the mall. Gluttonous borrowing for bling and now chastising the rest of the world for doing what you exported as the "way to live". And you assume that this will all just "go away"! That your lenders will just keep sending you their savings for you to continue your unabated self-indulgence. Because you are Americans, the "leaders of the world", that you are too good to save, sacrafice, suffer and (with the exception of your brave young men and women abroad who you have convinced are fighting the "good fight"), pay the ultimate cost of your stupidity and absolute arrogance.
The reality is: that it is over.
The reactions here are emotional because that is where the facts strike: at your fear that your life style is in jeopardy. Well, it is. And you have brought it on yourselves. Your indifference to the last 8 years of lying, cheating and raping of your "middle class", the incomphrehensible redistribution of your wealth etc. etc...etc. And yet you STILL want to live in denial.
Your system is broken. You no longer have the "throne", you sold it long ago...and your reaction is to threaten to bomb or kill anyone who points out your short-comings.
The statistics quoted in this article are only a reflection/projection of what you have done to yourselves. "America, Love it or Leave it" that is your only reaction to your own citizens who critisize your past actions or try to speak of something other than going "back to the way things were".
Your arrogance is dumbfounding.
Your lessons will be long and difficult made so because you have not the sense or insight as a nation to even know where it was you fell off the cliff. You elect a "savior" and you will sacrafice him on the alter of greed when his ideals and rhetorical pablum are shown to do nothing for your markets, or "recovery". You will blame him. That is ultimately why you elected him. You do not actually want "Hope" and Change.....you want it the way it was. Comfortable and isolated from the rest of the struggling world.
Dow to 3000, S&P to 400 Unemployment to 20% and you will get your asses stuck in Afghanistan/Pakistan just like the Russians.
I totally agree with this article.
Things are not well and no amount of pretending will make them so.
If you are one to consider the "Irrational Fear Of The Market" then you are truly deluded and apparently have not been effected yet. There are no positive stats; where do you take comfort?
This is not a case of "Piling On"; This is a case of "HOLY CRAP !!!".
Reality will be reality whether believed in or not.
Ron Paul seems to be the only one approaching our "Issues" with rational and reason. At this point REALITY BLOWS !!! Man-Up, Recognize, And Soldier On.
The more air time Ron Paul gets, the better the education of what was America. The Constitution is not Outdated and is wisdom forgotten.
Lament The Constitution And Its Lack Of Application In America.
The People Are About To Be Tested In Ways Unfathomable To The Current Generation. This will not get better until reasonable representation returns to DC.
Most doom is on hold until the government runs out of influence or money. The worst is yet to come.