Tuesday, July 19, 2011

It gets better

Garth Turner

When this godawful blog started three years ago the smell of financial collapse hung in the air like a Wal-Mart fragrance. With its message of caution about what was to come (and it did), GreaterFool attracted an audience of doomers, nihilists, conspiracists, survivalists and hot chicks (I mean, look at me).

Times have changed, sort of, but a platoon of the nutbars hangs on. Clad only in spears and Depends, they stomp across this blog warning of systemic financial collapse, banking insolvency, sovereign debt defaults, hyperinflation, mayhem, currency debasement and the collapse of America. Must suck to be them. Because none of this will happen.

15 comments:

  1. not sure why you put any article from that piece of shite

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  2. Well if this guy is right,, The USA can just borrow forever. Nothing bad is going to happen.
    His advice to someone who wanted a home in their 50s was to just rent, retire at 60, buy a RV and live in it and travel. WHAT A JOKE. Wait till the RV needs a major repair,, or two. Their kids will love inheriting a nice piece of worn out crap RV. (thanks Dad).

    I guess I wasted my money on all that $12 silver.
    Struggling to pay off my house at 37,, maybe I should have refinanced and bought a boat.

    Personally, I think people that are in debt are going to get kicked in the nuts. Intrest rates have to go up someday. That is the last thing the Gov wants because the interest on the debt would be unmanagable.

    sittinguy

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  3. This guy is wrong. Every economist says not raising the debt ceiling will cost us tons of money. Our bonds will be rated less, so in order to attract buyers we'd have to offer much higher interest rates. That means the gov't pays out even more and ends up in even more debt!

    And if defaulting was so great, how come a ton of businesses are now begging Congress to stop screwing around and raise the debt ceiling? It's because they are scared..and so you should be too.

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  4. Maybe this old geezer was being sarcastic? I hope so for his sake.

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  5. "Pay down debt, since the cost of money is in the dirt."

    He's got it backward.

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  6. Hope springs eternal
    This guy drinks the cool aid
    Keynesian economics is the kiss of death to the economy it is only a matter of time!
    However the market can remain irrational longer than you can remain solvent!
    The fact is there are so many triggers to a total financial wipe out that it is only a matter of time.

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  7. according to him houseing just crash

    but everything eles is fine
    your just a tin foil hatter

    heard the same thing before 2008
    actually for years all willl be good


    borrow borrow watched all my friends cry now
    and this guy touts how not buying a house is good

    this paper is drab crap!
    ill listen to msm if i need a cheerleading section of bullcrap

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  8. Well, all you gloom and doomers - where the hell is it? I'm telling you for years; the entire world is connected at the hip and unfortunatly for yaall - this isn't just about us and he's right; Greece and Iceland are farts in the wind. The ones that matter have and will band together and prop each other up; just look at how much money China is pumping into the EuroZone.

    The entire world is pumped full of funny money and not one citizen really gives a rats ass as long as he/she can trade that funny money in for goods and services.

    And guess what? They can and will continue to be able too.

    Slowly the numbers will start to look better and then; just like katrina; just like the Tsunami; just like the Gulf Oil Spill; just like Lehman Brothers; just like QE1

    All will be forgotten and march on we will

    Write it in stone

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  9. Anon at 10:15 ... do you see anything getting better? Or is everything steadily getting worse?
    There, I just put the lie to your bullshit rationalization.

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  10. I have never heard Garth Turner discuss the recent insane money printing and the corresponding drop in purchasing power of fiat currencies. Due to this his entire financial analysis is suspect. In addition, we have the lowest interest rates in history, ongoing currency debasement and the real threat of sovereign default (aside from that caused by inflation) and the turkey is recommending bonds.

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  11. This guy is a moron. See what Ron Paul has to say about the United States being a deadbeat - not paying their debts.

    http://georgewashington2.blogspot.com/2011/07/ron-paul-every-time-federal-reserve.html

    You see - there is already a disaster happening. The U.S. is defaulting (China has said as much) - the U.S. government is defaulting stealthily, off the radar of morons like this author.

    And see what Peter Schiff says:

    http://www.youtube.com/watch?v=Doanpd2JEk0

    Things are not getting better - not anytime soon!

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  12. @anon 10:15

    A recession is when your neighbor loses his job...depression is when YOU lose yours.

    www.dailyjobcuts.com

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  13. ....Party on Garth

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  14. I don't always comment on blog postings, but when I do, it's because the linked article is complete shit filled with horrible poorly rationalized advice.

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  15. CALL IT KICKIN THE CAN: I call it mass destruction in this country , worse than we ever imagined, got parents old , disabled, on ssi, What now , keep printing monopoly money, ??????? Hope the right / wrong people who did this to all of us private sector workers , pays hell for all the shit to come. Lots of tree's to hang all the greedy people who made us loose it all. Please get the Politicians, unions, etc. and destroy what they stand for, bring em down to our level of life, them, banksters ,GE, GM, man are we fukin stupid for bailing em out and how about those 3 or 4 wars we got goin on ???? Keep borrowing , printing , charge the bill on more ink for making money too, send the bill to communist Chinese fuks

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