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Officially scared.
- Sep 17, 2008 at 10:59 PM
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- Comments (6) Total Views (85) Everyone can see this journal post.
Ok, when I first got into reading about economics, I listened to a lot of "inflationistas" - financialsense.com, safehaven.com, Ron Paul, Mike Ruppert... Doomerish people who were stockpiling gold, ammo and toting survivalism... Rantings on the Federal Reserve, the Amero, Weimar Germany, the Austrian theory of economics.
A year ago I stumbled upon Ticker Forum when the dollar was tanking. This was a place for day traders to compare technical analyses and shoot the breeze. It was obvious from the beginning that these people knew more about the technical ins and outs of the markets than the others (or the others dumbed down their presentations for the general public). It was a place for me to gain some new levels of understanding our financial system.
The owner of Ticker Forum, Karl Denninger, is a very smart, no-nonsense kind of guy. He regularly runs off members who post "tinfoil" - conspiracy theory anything. Like the opposite of the former sites I was reading. But he's not trying to sell anything or blindly follow his thesis. He'll change his view when the market changes. So the events of the last few days have changed his views, as you see in this video. A few months ago, he would have banished a person for coming onto Ticker Forum and posting HYPERINFLATION! Too tinfoil, not going to happen... now you see, what he thought couldn't happen has happened and he is in some depressed state of shock. And so am I, because I really was leaning towards deflation and now I don't know what to think. We need to come down on one side or the other, to form a plan to protect ourselves with our limited means.
What's truly depressing is that there is no way the average American is going to wake up to what's happening... people feel the pinch, see the banks fail and smell the panic in the air, but they can't put their finger on exactly what's going wrong. I've been reading this stuff daily for the past 3 years and even today I need to read twice to comprehend the meaning behind the words. How are you going to get mass protest when the system is so complicated? I will call and email my representatives tomorrow, I will post this here and send a few copies elsewhere, but I don't know what else to do. Stand in the front yard with a sign?
Tags: america, bailout, bernanke, capitalism, congress, credit, debt, deflation, depression, economics, economy, federal reserve, inflation, market, money, paulson, recession, stocks, trading
Comments:
Bumping.
There's no turning back now. The ominous times they are a comin'. We're in the last days whether people want to admit it or not. Usher in the Antichrist and the mark of the beast where you won't be able to buy or sell without it. Should you choose to accept it...you've just lost your soul to satan with no hope of ever getting it back. If a man gains the whole world yet loses his soul, what has he profited? He is no fool who gives what he cannot keep in order to gain what he cannot lose. You won't be taking paper money with you when you die. Choose you this day whom you will serve...as for me and my house, we will serve the Lord!
People have been living beyond their means for years. All the greed and $ signs in their eyes have consumed them. Now they must pay the piper.
I feel solace in the fact that we have the resources for subsistence living if need be, but I seriously can't wrap my head around economics very well. We do feel the pinch, and I have this ominous feeling that we are currently in that stage where growth has grown past capacity to that point where it expands before it contracts and levels out. Ya know like the internet boom of the 90s? It expanded beyond capacity, then contracted to a relatively stable level.
What economics journal would be complete with hellfire?
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Wow. I hope people read this