THE NEW one-and-only Depression thread

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  • Paul Bonham
    replied
    Re: THE NEW one-and-only Depression thread

    Originally posted by Gary Ruben View Post
    ... Depression might be a bit strong.
    Yeah, the last Depression actually became known as the Great Recession. Which we never really got out of, there was just a bunch of government (i.e. taxpayer) money thrown at the problem in the hope it would go away.

    It's not going to go away. For one thing, the Tea Party is so obsessed with beating Obama. They'll burn the house down to get rid of the bedbugs.

    Big week for Europe: will Germany foot the bill for Italy?

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  • Gary Ruben
    replied
    Re: THE NEW one-and-only Depression thread

    Kovalchuk won't be on any of my fantasy teams this winter.

    I see a lot of fear in the markets and there are too many lost jobs. Corporate profits haven't looked too bad, at least not those companies I follow. A couple of speculative ones aren't good. I've done a bit of bottom fishing. Probably be losers for me. I haven't been buying any Spanish bonds. :) Depression might be a bit strong.

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  • Duncan Smith
    replied
    Re: THE NEW one-and-only Depression thread

    Markets almost always retraces in the summer, its all overdone and an excellent buying opportunity on valuation plays moving forward. Just let the market consolidate then jump in.

    Earnings story will come back into play in the fall.

    Leave a comment:


  • Paul Bonham
    started a topic THE NEW one-and-only Depression thread

    THE NEW one-and-only Depression thread

    I'm jumping the gun on Gary Ruben.

    In view of today's 500+ point drop in the Dow Industrials, equally bad drop in S&P 500 and Nasdaq, and even WORSE drops in the major European bourses...

    Greek default is a done deal. Ireland bondholders to take haircut. Italy on verge of default.... is far too big to bail out. All this means a bloodbath for major French, German banks, spreading the contagion to the whole world. Libor lending rates to once again, as in 2008 / 2009, freeze up interbank lending. This time no U.S. government intervention, thank you Mr "I got 98% of what I wanted... I'm happy" John Boehner. I mentioned gold many months ago now, there is still time to exchange your fiat currency / toilet paper (at now much higher prices).

    A couple of topics to ruminate on:

    (1) "All the King's Horses, and All the King's Men, Couldn't Put the Euro Back Together Again"? Extravagant European chess events to become extinct?

    (2) Mark Bluvshtein going into investment banking.... the very industry that will take the worst beating in the coming downturn? Smart move?

    (3) Those Republicans who Republicans don't Republicans learn Republicans from Republicans history (1930's) Republicans are Republicans doomed Republicans to Republicans repeat it Republicans repeat it Republicans repeat it Republicans repeat it....

    (4) Mayan end-of-time calendar (December 21 2012). Very interesting conjecture going on: The Mayan calendar possibly isn't warning about the end of "time", even though it appears to be. Apparently the Mayans had no way to conceptualize "money", because they bartered (cocoa, salt, etc.). They had no currency. But in their vision of these times, they foresaw that money is time. Therefore their calendar, and specifically the end date, isn't a warning about the end of time but about the end of MONEY, conceptualized as time. Therefore the Mayan message to us is: on December 21st 2012, money... fiat currency....banking... will cease to exist. All exchanges after that will be exclusively barter. Everything that is happening now would appear to lend credence to this? Time to stock up, including guns and ammo?

    (5) Asian reaction to (4)... What will China / North Korea do? Japan to wither and die? U.S. to withdraw from Asian altogether, protect only its own borders?

    (6) Israel to preemptively attack Iran? At roughly same time, Iran to preemptively attack Saudia Arabia, take over Saudi oil fields?

    (7) Does the saving of the NFL season (a) slow down, (b) speed up, (c) have no effect on coming economic collapse?

    (8) In the midst of ALL THE ABOVE, Ben Daswani to still be asking where will Kovalchuk end up?
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