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I hate to be really negative, but civilization makes certain demands of the people that live in it. Sanctity of contracts and some semblance of sanity are two things that come to mind. The body politic has slowly gone insane over the last 40 years and the universe will soon slap them upside the head. It is far better to have self-discipline than universe discipline. Too often civilizations implode because the universe slaps you down.
Can't give you any more rep, but you seem to have no confidence that US and global body politic decision-makers will come up with a well-balanced plan over the next six months or so.
Either way, I don't care too much, I'm ready to go.
No matter how much stimulus the world bankers provide, this economy is imploding. I expect a massive deflation in prices of everything in the next five years starting (started) with real estate and working its way through financial assets, consumer goods and finally commodities.
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And finally commodities? Commodities have been tanking for months...
Because of deleveraging. Lots of companies with good stuff had to sell and sell fast to make up for the cr@p mortgage debt they bought. No rational person looks at such a short term (3-6 month) trend as sufficient evidence that commodity prices will have an "L" shape.
Please stop taking sales men seriously. Schiff has something to sell and needs the US to collapse for his bets to pay off. For someone that complains about media bias you should don't know how to recognize it.
I don't know if you or the CNBC talking heads are more annoyed at Schiff's success in the mainstream or not (oh, 750K views at this point and rising rapidly...guess people are paying attention and a couple of big guys too)
Peter Schiff Told Us So...Many, Many Times - BC Beat - Blog on Broadcasting & Cable (http://www.broadcastingcable.com/blog/1380000138/post/1860037186.html - broken link)
His books also offer a layman's explanation on Austrian economics. Even a deflationist proponent can appreciate this and drop the tired diaribe to dismiss someone becaue they are a "salesman". By the same analogy, Ford's CEO must be a salesman as well?
But if people would rather listen to Keynesian eggheads like Roubini and Krugman...I guess the old adage applies: "you can lead a horse to water, but you can't make it drink."
I don't understand how stupid Americans are with Bernanke buying treasury bonds... that's like saying my right hand "lends" my left hand $5 and my left hand will pay my right hand $6 next year...??? Uhhh... then my left hand tries to generate cash by taking out my wallet to pay the right hand??? I don't understand, the only thing was I kept the Treasury rate artificial... I guess to "lure" in investors? Why would investors be that stupid? Okay...
I don't know if you or the CNBC talking heads are more annoyed at Schiff's success in the mainstream or not (oh, 750K views at this point and rising rapidly...guess people are paying attention and a couple of big guys too)
Peter Schiff Told Us So...Many, Many Times - BC Beat - Blog on Broadcasting & Cable (http://www.broadcastingcable.com/blog/1380000138/post/1860037186.html - broken link)
His books also offer a layman's explanation on Austrian economics. Even a deflationist proponent can appreciate this and drop the tired diaribe to dismiss someone becaue they are a "salesman". By the same analogy, Ford's CEO must be a salesman as well?
But if people would rather listen to Keynesian eggheads like Roubini and Krugman...I guess the old adage applies: "you can lead a horse to water, but you can't make it drink."
Seems the only reliable source of information is Humanoid.
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,517,867 times
Reputation: 1721
Quote:
Originally Posted by ViewFromThePeak
I don't know if you or the CNBC talking heads are more annoyed at Schiff's success in the mainstream or not (oh, 750K views at this point and rising rapidly...guess people are paying attention and a couple of big guys too)
Peter Schiff Told Us So...Many, Many Times - BC Beat - Blog on Broadcasting & Cable (http://www.broadcastingcable.com/blog/1380000138/post/1860037186.html - broken link)
His books also offer a layman's explanation on Austrian economics. Even a deflationist proponent can appreciate this and drop the tired diaribe to dismiss someone becaue they are a "salesman". By the same analogy, Ford's CEO must be a salesman as well?
But if people would rather listen to Keynesian eggheads like Roubini and Krugman...I guess the old adage applies: "you can lead a horse to water, but you can't make it drink."
Well........I understand why people will distrust Schiff advice. He is a businessman with an agenda behind him. But dismissing him out of hand just because he is a entrepreneur/salesman is a rather large mistake. I personally think he has been on the ball a lot with our current situation. I also feel when you got alot of skin in the game you apt to actually do what is best to either conserve or grow wealth.
Look. It's like anything else with money. You can listen to either/both a businessman (schiff) or a academic type (roubini) but at the end of the day you have to do your own research/reading, sort out the data/information/advice.....then do a gut check of yourself....then make your decision(s).......then be prepared to live with the consequences of that decision(s). That's really it.
So this disdain of schiff on one end and mistrust of roubini on the other really doesn't further nor take away anything from anyone in anyway. These guys just throw out ideas, analysis, and possible a direction of where things are headed.
Although I do have to admit I do hate Jim Cramer and can barely stomach him. Even so. I do tolerate his views and read some of what he has to say just so I can say to myself for myself that I trying to be "fair" to listen all points of view. But that just me.
His books also offer a layman's explanation on Austrian economics. Even a deflationist proponent can appreciate this and drop the tired diaribe to dismiss someone becaue they are a "salesman". By the same analogy, Ford's CEO must be a salesman as well?
His books over no explanation of the Austrian school of economics. Believe it or not...I have read him and own a copy of "Cash Proof". So, no there really isn't anything I appreciate about him.
Quote:
Originally Posted by ViewFromThePeak
But if people would rather listen to Keynesian eggheads like Roubini and Krugman...I guess the old adage applies: "you can lead a horse to water, but you can't make it drink."
You mean listen to actual economists instead of a sales man? Really, though. Instead of worshiping a sales man why not one of the many accomplished economists from the Austrian school? There is no reason to listen to the sales man even if you are lending towards the Austrian school. There are many people far more interesting to read that aren't trying to sell you something. Of course they aren't wasting their time on Fox news debating with idiots.
I don't know why you keep bringing up these guys when you respond to me though. I don't quote them, I don't talk about them, I hardly read them.
The only thing I've said is the Roubini's predictions have been more accurate than Schiffs.
Anyhow, I don't care how successful Schiff is in the mainstream media. I rarely watch it.
Quote:
Originally Posted by jimmyP
Seems the only reliable source of information is Humanoid.
Perhaps instead of trying to insult me in multiple threads, you should saying something interesting? Just a thought.
Because of deleveraging. Lots of companies with good stuff had to sell and sell fast to make up for the crap mortgage debt they bought. No rational person looks at such a short term (3-6 month) trend as sufficient evidence that commodity prices will have an "L" shape.
What is your point exactly? All I said is that commodity prices are currently tanking and that is exactly what is happening.
I would also not use short term trends as evidence of "L" shaped price movements. I don't think commodities are going to decline because they are currently declining. After all I've been talking about deflation for over a year. You know back when you guys were yelling about inflation because...ahem short term price movements.
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