Remember Peter Schiff? It's Been Ten Years Since

[yerrag]

Kept me back in perspective. Thought I hadn't lost it.

 

[Queequeg]

Same as all the survivalist/buy gold/dehydrated food BSers. I have noticed that you only see these end of the world clowns on conservative stations. I have never seen a buy gold/the end is near commercial on MSNBC or CNN just Fox and Glenn Beck. A lot of Conservatives have lost a lot of money listening to these clowns while the stock market has had one record breaking close after another.

 

[yerrag]

You must have seen the wrong link I initially posted which I replaced already.

Losing and gaining money in stocks or commodities isn't the thing that you have to worry about. It happens all the time.

It is seeing the picture of the real economy that needs to concern you. The market does not always reflect the reality, which is the economy.
Forget Peter Schiff. Look at the US economy. Does the reality bear out what he is saying now?

Are we a debtor nation or a credit or nation? Are we credit-worthy? How much is the debt load? Do we have the capacity to pay this debt?

Is MAGA enough to turn back the poor decisions made in the past?

Are you in denial about this reality?

 

[charlie]

Is MAGA enough to turn back the poor decisions made in the past?

Yes. It's gonna be incredible and it has already started. Have you not read?

 

[yerrag]

Well, true. Got the political will now. Hope Trump's supporters will be able to bear out the structural adjustments needed on the way to fixing the economy. You don't deny there will be major storms? Will it be smooth sailing?

 

[Queequeg]

You must have seen the wrong link I initially posted which I replaced already.

Losing and gaining money in stocks or commodities isn't the thing that you have to worry about. It happens all the time.

It is seeing the picture of the real economy that needs to concern you. The market does not always reflect the reality, which is the economy.
Forget Peter Schiff. Look at the US economy. Does the reality bear out what he is saying now?

Are we a debtor nation or a credit or nation? Are we credit-worthy? How much is the debt load? Do we have the capacity to pay this debt?

Is MAGA enough to turn back the poor decisions made in the past?

Are you in denial about this reality?

Schiff and the other perma-bears are absolutely right that our economy as well as the rest of the world's is not in good shape. My point is that nobody knows when the bubble will burst; He has has been saying the same thing for the last 10 years. The financial markets and the real economy are not the same but they are tied together in very fundamental ways. The Fed's propping up of the capital markets has kept the real economy going due to the wealth effect. Basically people spend more based on the value of their house or stock portfolio. This artificially juices the real economy. Low interests do as well. I have no doubt a crash will happen but this financial game of loose Federal Reserve money can go on for a long time, especially when you are the reserve currency of the world. Anyone who has listened to Schiff's advice over the last ten years most likely wishes they hadn't.

 

[yerrag]

Best thing is to spend time on work, employed, in your business, building, not counting on the market or your appreciating real estate or investments.

If you're letting these buoy you up, it's not going to hold you up.

That's the perspective I have. It's not about doomsday. If a little dose of reality keeps you in perspective, it won't hurt.

I don't know if you're playing the market, and hoping you won't be holding the bag when it goes down, good luck to you.

It sounds like you have a lot at stake. Are you doubling down on your bet?

 

[Queequeg]

Best thing is to spend time on work, employed, in your business, building, not counting on the market or your appreciating real estate or investments.

If you're letting these buoy you up, it's not going to hold you up.

That's the perspective I have. It's not about doomsday. If a little dose of reality keeps you in perspective, it won't hurt.

I don't know if you're playing the market, and hoping you won't be holding the bag when it goes down, good luck to you.

It sounds like you have a lot at stake. Are you doubling down on your bet?

I agree and I probably wasnt too clear about that same point I wanted to make too. Since nobody can time the market or the business cycle or what have you, it's best not to worry about the doomsayers and just live life to the fullest.

A friend of a friend bought into the whole end of civilization stuff in 2008 so apparently she quit her job and moved to a cabin in Vermont. Eventually she either ran out of money or came to her senses and came back to civilization. I think this whole depression/prepping industry hype is just a distraction to keep people in fear and thus easier to control. My theory of why they are pushing it on the conservative side is that after Trump I think we will swing hard to the left and they want to minimize any resistance on the right. Its hard to be politically active when all your wealth is in ammo and freeze dried food.

 

[Fractality]

I always thought it was highly ironic that the goldbugs are so eager to accept "on the verge of collapse" dollars in exchange for gold.

 

[yerrag]

Its hard to be politically active when all your wealth is in ammo and freeze dried food.

That's funny. I reckon I'll time the market for freeze dried food, buy them for a song, and sell them like hotcakes when doomsday arrives.

Naah. It's best to ignore Wall Street and its shenanigans, and yes, and be useful and enjoy.

 

[Gl;itch.e]

I always thought it was highly ironic that the goldbugs are so eager to accept "on the verge of collapse" dollars in exchange for gold.

What are you talking about?

 

[Regina]

I agree and I probably wasnt too clear about that same point I wanted to make too. Since nobody can time the market or the business cycle or what have you, it's best not to worry about the doomsayers and just live life to the fullest.

A friend of a friend bought into the whole end of civilization stuff in 2008 so apparently she quit her job and moved to a cabin in Vermont. Eventually she either ran out of money or came to her senses and came back to civilization. I think this whole depression/prepping industry hype is just a distraction to keep people in fear and thus easier to control. My theory of why they are pushing it on the conservative side is that after Trump I think we will swing hard to the left and they want to minimize any resistance on the right. Its hard to be politically active when all your wealth is in ammo and freeze dried food.

I prefer the sunnier outlook (deeper optimism) as put forth by Scott Grannis:
Calafia Beach Pundit: Global green shoots

 

[yerrag]

I prefer the sunnier outlook (deeper optimism) as put forth by Scott Grannis:
Calafia Beach Pundit: Global green shoots

The tax cut part is what I like about that article.

Anything that brings us back to being creative, entrerprising, producing, and useful will be a boon. Tax cuts will help.

Anything that brings us back to health, and less dependent on the need for medical insurance, will be another. On the face of it, if you add up your medical expenses, and think of it as a tax, how much burdensome is it? Fixing health care is another form of tax cut.

 

[Queequeg]

I prefer the sunnier outlook (deeper optimism) as put forth by Scott Grannis:
Calafia Beach Pundit: Global green shoots

Interesting read. However I am still of the opinion that the party ends only when the Fed takes away the punch bowl. The rest is just window dressing.
Did the housing crash cause the Great Recession? No, it was the Fed • AEI

 

[yerrag]

...ends only when the Fed takes away the punch bowl.

Correction: ...ends only when the punch bowl is taken away from the Fed. :)

 

[x-ray peat]

Correction: ...ends only when the punch bowl is taken away from the Fed. :)

Now there is some optimism. Let's all hope that comes true.

 

[yerrag]

Now there is some optimism. Let's all hope that comes true.

++

 

[Fractality]

What are you talking about?

You don't think it's ironic that the doomsday peddlers of gold as an immaculate store of value accept as payment the exact paper currency they believe will collapse?

 

[Lone Bunman]

 

[Gl;itch.e]

You don't think it's ironic that the doomsday peddlers of gold as an immaculate store of value accept as payment the exact paper currency they believe will collapse?

Paper currency as opposed to what? Cows and Bags of rice? Of course they are going to have to continue to use the standard issue fiat currency while its still supported. Some are going to alternatives like Bitcoin as well though. Most Gold bugs that also sell the stuff and not just talk about it tend to acquire their own personal holdings. Its not like they just stuff their mattresses with paper dollars