Yes, it's going to get worse, a whole lot worse ... Bill Gross warns this is the "New Normal. Forget 10% returns. Think 5%". ... Economist Larry Kotlikoff, author of The Coming Generational Storm, warns: "Let's get real. The U.S. is bankrupt. Neither spending nor taxing will help the country pay its bills" ... Economist Peter Morici warns: "Unemployment is stuck near 10%. Deflation coming. Stock market threatens collapse. The Federal Reserve and Barack Obama are out of bullets. Near zero federal funds rates, central bank purchases, a $1.6 trillion deficit have failed to revive the economy." ... Simon Johnson, co-author of 13 Bankers, warns: "We came close to another Great Depression, next time we may not be so lucky." Why? Because Wall Street's already well into the next bubble/bust cycle -- the "doom cycle."
Warning: More bad news ahead. Welcome to a bleak second half 2010, worse for 2011.
It's early morning: In comes economist Gary Shilling's new Insight newsletter, just before I head for the kitchen to make my wife's breakfast. Gary's "Mid-Course Checkup" doesn't raise my spirits. Sure, he's got bragging rights. His January forecasts are still on the money. But don't you just hate guys like him? Brilliant. Honest. Great track record. I guess that's why he's been a long-time Forbes columnist. Investors listen when he talks.
More Here..BP Claims For Real Estate Collapse Coming In Gulf?
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The author of this article predicts deflation. Wants you to buy bonds. Good luck!
ReplyDeleteDon't invest in stocks or bonds. Invest in things people will need after the crash.
ReplyDelete3 days after the earthquake in Haiti, people were killing each other looking for safe drinking water. Makes me think I should buy a ton of water purification tablets.
I'm impressed that the Mayans were able to predict these tough times thousands of years ago. Their 2012 prophecies are looking pretty real these days.
ReplyDelete12:21
ReplyDeleteI agree. I think the way to capture their prescience is to think like they did. Men should dress in leopard skins and carry war clubs instead of tool belts or brief cases. Women should spend their days in corn fields singing to the trees and turkeys and bees.
A great temple needs to be built, perhaps from the remains of our decaying cities. Perhaps we can despoil the greedy gold hoarders and cover it with a shining skin. We can install our god, perhaps a wise and very old central bankers and adorn him with exotic bird feathers and precious stones.
The wisdom of the Mayans will only be open to us if we practice their rituals, though. Accurate astronomical observations are not enough. We must have hallucinations by performing horrid acts to warp our consciousnesses.
I believe we should seize the owners of the largest SUVs and hoarders of food and drag them to the top of the temple and dismember them and partake of their bodies. The high priest will communicate with the gods by sliding down the temple on a slide lubricated with the hoarders blood and gore.
Perhaps in this was the Mayans wisdom can be imparted to us. At least we will get to wear leopard skin thongs and crack people in the head with clubs.
12:46-Not only that! Did you know the resourceful Mayans invented soccer? It was very much like today`s soccer with goal posts and chalked fields and such...only twist was they would use the freshly severed head of their enemies as a soccer ball! Now just picture a Mayan David Beckham ¨bending¨ one of those puppies in front of 15,000 grass skirted homies cheering him on...the guy in the cage hanging from center field is the next soccer ball...oooooh! lol
ReplyDeleteAnon at August 21, 2010 12:21 PM,
ReplyDeleteVery interesting post date and time. I think this clinches the apocalypse. Clearly a sign!
Aug 21 - 21st (of Dec)
12:21 - Dec, 21.
Cheers!
buy as little as possible, hunt or fish if you can, avoid walmart and big box stores, buy freeze dried food in quantity and put it away for later, starve the beast literally, stop paying as many bills as possible, dont play their game, play your game.
ReplyDeleteits going to get worse....its going to get worse!!!
ReplyDeletereminds me of the boy who cried wolf.
Anon at 3:57,
ReplyDeleteI agree about avoiding Walmart, but I do visit the stores for one of the few things they sell that is made in the USA...
AMMUNITION.
3:57... another sign!
Walmart has the best prices and ALL the stores sell the same stuff.
ReplyDeleteWhat a mistake the voters made in 2008. We are going to pay for this for a long time.
Stock up on food. Best investment you can make because food prices will skyrocket! Many canned foods will store 30 years or more kept in a cool, dry place. When the poop does hit the fan, you won't have to be involved in the mad scramble for food at your local grocer. It's a good insurance policy. If you have a Latter-Day Saint friend, ask if you can go with them to the LDS Home Storage Center sometime. I am LDS and I have a group of about 12 non-LDS friends who go with me once a month to stock up. They are very appreciative of it and we all have a good time working together.
ReplyDeleteGet out and protest and riot by the millions.Dont go with the flow,tell them you will not spend more for recovery.REVOLT!
ReplyDeletewalmart is destroying all small businesses, they are the number 1 problem and right wingers let it happen.
ReplyDeleteOh Great! Wal Mart is part of the right wing conspiracy. That story is near the top. Take it there.
ReplyDeletewalmart is putting tracking chips in all clothing, I wonder why?
ReplyDeleteyeah I work at walmart..in appearal and its true. Although they tell us its for inventory purposes..
ReplyDelete