shrivman

Sprott and Roubini Leaning Toward Depression

Hmmm - you must not have watched the interview that I did.
Roubini was talking about a serious recession - coming from him that is quite an improvement over his previous depression stance. I was surprised and happy to here his change in position, although he could also be wrong.....we haven't been here before and no one has the answers.

How to Deliberately Cause the Greater Depression

"The result will be a lengthening and intensifying of The Great Credit Contraction and resulting Greater Depression. Worse is that these criminal gangs costumed in government regalia have no excuse for not knowing what the result will be. Therefore, they are acting either with premeditation and deliberation or with reckless disregard for the world economy and all the individuals affected"

Boy - that's some leap you make there. "Criminal gangs","premeditation"... disregard". Don't hold back for Pete's sake, let us know what you really think. Although I am surely not loving a lot of the picks the current administration is making, I in no way think of them as criminals, as you do. Since they are criminals they should [logically] be arrested,yes? That's what we should do with criminals,no? So which of the current administration would you suggest goes to jail first?
Did you apply this yardstick to the "criminal gangs" in the previous administration.....or were they innocent of the many misdeeds so many others believe? Your perspective [as is true of all of us] is certainly not objective. So that makes it subjective [in your case in the extreme] and therefore interpretive. I would say trot out your facts, but anyone can skew "facts" to favor their "opinion" and parade it as "truth". Me too.We all do it.
Since no one to this day actually knows why the Great Depression started and ended [ the current spin from the right is that government intervention was the culprit], then logically no one knows how to end it.I've over the years read 5-6 books on the Great Depression [long before the current financial debacle] and never felt that any one of the books definitively "got it right", Rothbart included. Of course reading 5 or 6 books makes not an expert, but I have at least a passing knowledge of the Depression and the number of differing opinions by very smart folks as to it's origins and factors that may have lengthened/shortened it. Nobody KNOWS and so we are left with lots of varying opinions about how to solve this depression/crisis. Having an opinion other than yours [or mine] does not a criminal make. You need to get back to taking your meds on a regular basis and at least TRY to understand that you are NOT the final arbiter on matters of great import. As is true of us all - you're entitled to your opinion. But if you print it - expect to be challenged.Consider yourself challenged.

More Housing Charts: Existing Home Prices vs. Median Income, Interest Rates

Am I reading that right - a 2.5% mortgage? If so - where the heck can you get such a thing. Perhaps if you're connected with the TARP program and are a failing large bank[er], but not us mere mortals!

Great Depression II: Machiavelli's Advice to Obama

"On the other hand, the mistake you will almost certainly try to make is to follow the advice of left-wing economists and pump more and more money into the system, producing an inflation like in the 1970s"

You mean like the left-wing administration that is [finally] leaving office? Oh - I forgot Obama MADE Paulson/Bush/Cheyney blow that 1st giant wad of cash, bailing out the guys who were partly/largly responsible for getting this whole thing really rolling. You so smart!!!

Farewell to 2008

Good to see Tim Prices' articles....always so reasoned and informative.
The total bill for this debacle still remains to be seen, but Tim's article gives a sobering perspective to it all.And I shudder to think of the governments' inevitable ineffeciencies.That said - consider the alternative. Many market fundamentalists believe that the market should be left to it's own devices and that it will sort it all out....let the chips fall where they may. I tend to believe that these folks have million dollar plus portfolios and jobs that are not in jeopardy [at least in their opinion].
To look at the current crisis in it's enormity and conclude that the best course of action is inaction seems staggeringly dumb.The free market was so efficient when it came to creating this debacle and that ain't good.
To believe that it [the Free Market] will turn it around without endless pain and turmoil [can you say Depression] is really a leap of faith that I for one don't see as an option.

Jim Rogers on Banking Bailout: 'Horrible Economics'

sickofthehype:

Good grief you are a simple-minded individual! The mindless "my way or the highway" concept of America is meant only for those who don't understand or care that there is more to the world than America. Reminds me of the folks who vilified anyone who opposed the war in Vietnam[Iraq]. My country love it or leave it! Hey moron - it's our country too and we're not dictating to you what is appropriate for you to do/feel. Get a grip!!!


On Jan 05 12:31 AM bs_o_meter wrote:

> sickofthehype
>
> i will attribute your outburst to misplaced sarcasm. sweetie, you
> cross the line when you question patriotism.
>
> every individual has the right to live where in the hell they please.
> an American pays taxes to America when they live overseas. for the
> kind of things jim rogers is involved in, singapore makes better
> sense than new york.
>
> i personally find few things in America right now which are amazing
> except for the dedication of the men and woman of our armed forces.
> for me, criticism of all other topics are on the table.

Deflation Is Just Around the Corner

I gotta agree with this assessment. When governments worldwide are forced to "acquire" the bad debt of banks and others in order to halt the seemingly endless slide toward the "pit", it is the relentless printing of currency that is their prime implement as counterforce. When you print endless streams of currency the inevitable result would seem to be inflation.Deflation is a concern later - after the inflationary cycle....cycles out, but when that time will be is anyones' guess. My question to all is - so what does a poor boy do? Where do you park your hard-earned and diminished stash of cash as first inflation [and potentially hyper-inflation] and then deflation wreak havoc with the worlds' economies and our own private funds.Anybody????


On Dec 17 10:25 AM MMuoio wrote:

> Wow----has he got it wrong!---this is a snapshot----inflation will
> rule and if you doubt it prepare to lose a lot of money. Central
> bankers around the world have pushed more liquidity into the markets
> than at anytime in the history of the world. The debasement of the
> USD is here and big BEN will see it through. We had better move out
> on the risk curve or be prepared to eat you know what!

Critical Memo to Obama: Do Something

On Dec 16 11:05 AM Kofi Bofah wrote:

> Sorry, I am not a member of the G.O.P.
>
> Look up every bit of information that you can on the T.A.R.P.
>
> You will observe heated wrangling between Pelosi, Paulson, and W
> over the final $350 Billion.
>
> Who is missing?
>
> Why is the market taking any directives from Paulson and W, when
> they will be shown the door shortly?
>
> As for my 'lay on the sword' comment - I was alluding to the Secretary
> of State appointment. The Secretary of State typically takes the
> fall (EX: Colin Powell).
>
> I do not envision Bill and Hillary (Billary) taking the fall for
> Barack in response to any gaffe (Everybody makes mistakes). I don't
> know how I feel about that.
>
> Ironically, Joe Biden would have been perfect for the post.



Kofi,

You will observe heated wrangling between Pelosi, Paulson, and W
> over the final $350 Billion.
>
> Who is missing?

The whole TARP is a friggin mess and none of these people seem qualified to make it work or put forth a program that will........
Everyone is waiting for Obamas' weigh-in, but waiting is unfortunately all that can be done. Let's just hope that it's not too late by the time he is able to act.

Why is the market taking any directives from Paulson and W, when
> they will be shown the door shortly?

Exactly.....except that Barackster has not one iota of legal authority to do anything other than TALK...which he is doing bigtime! And Goergies participation in curtailing this mess seems to be minimal.

Critical Memo to Obama: Do Something

Kofi,
You'd NEVER know it from what you wrote.....which I kinda like. But still i think you're way off base here.
And yes, the expectation levels for the Obamarama are way too high. But that doesn't stop you from expecting more from him, even though he cannot legally act on any of this.
I'm 57 and I've never seen a president-elect so taking charge as I have seen the Obamster doing. I think the market has been considerably soothed by both his appointments [he's NOT a socialist after all -well wattaya know about that] and his public meetings every day with the press where he is clearly working his ass off to get everything in place for his transition. Compare and contrast to the Bush doctrine - see no evil...do no evil....do nothing.
Glad you voted for Obama. Now give him a chance...he's not even there yet.


On Dec 16 10:53 AM Kofi Bofah wrote:

> Funny. I am being accused of voting for W.
>
> Never.
>
> Gore / Kerry / Obama = my Presidential Voting record.
>
> (I am only 28).

Critical Memo to Obama: Do Something

Kofi Bofah:

"I am hopeful that a trusted lieutenant will emerge to fall upon the sword."

I elect YOU!!!

What a spavined,purely political diatribe with little or no facts behind it you just laid out.

"The veiled panic crystallized in-step with the Hillary Clinton appointment as our country’s next Secretary of State. The Dow Jones Industrial Average continued to deteriorate – plunging through important resistance points as your former adversary was paraded out to America"

So once again it's the CLINTONS' [insert sound of deep atonal bass note on a church organ here] who are to blame. When will you Publicans move on? Your tactics of laying all blame on Dems and taking none onto your own shoulders are crystal clear and frankly BORING! Excuse me - who's been in office laying waste to every aspect of government for the past 8 years? This administration has been criminally negligent in every single aspect of governance -the list is too long and too well know for me to trot out again.Get a clue - we all need to work together on this now. In case you haven't noticed it - we're headed for a Depression. It's going to take EVERYONE working as smart and hard as possible to maybe, if we're really lucky, keep this from spiraling into the worst economic disaster we've ever seen.