An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Friday, May 14, 2010
The Defcit Terrorists are now in full control. Make money while you still can. Your very survival is at stake!
It's futile. The Deficit Terrorists have taken over the world. Their belief system is everywhere. It's going to bring us down--it will bring the world down. All we can hope for is that a Phoenix rises up out of eventual ashes and that will be positive for future generations, but not us.
Right now you should do as I am doing: move to cash or better yet, short stocks--everywhere. We are going down as austerity measures and debt reduction mania takes hold in every country in the world. Prepare for the coming dystopia: Misery, hardship and unrest everywhere.
Make money to protect yourself and your family; you are going to need it. We cannot fight this. The Deficit Terrorists are now firmly in full control of the hearts and minds of the populace and by corollary, the policy makers.
It didn't have to be this way. In a world of abundance and miraculous technology prosperity could have been had by all. However, we are going in another direction because of sheer ignorance.
Things are going to get ugly...VERY ugly. Protect yourself and make money while you still can. Short stocks everywhere. Raise cash. Prepare for a horrible period.
Are you actually suggesting that the austerity measures of Greece and potential cutbacks in the Eurozone and the United States are what's going to cause a recession/depression? Are you actually serious? Can you hear yourself? You should be ashamed, b/c a few people still actually listen to you even after your "housing should be up about 10%" call in 2006/07. Profligate spending with capital you don't have and devaluing capital to make the slack for malinvestment gone bad are hardly solutions. Deeper recession is coming (that part you got right) and shorting stocks may be the right thing to do (or maybe not, with the amount of money that Ben Bernanke is going to print, stocks could well be up when valued in dollars and well down when valued in gold). But it is hardly because of austerity measures that this is occurring. Rather it is because these measures are coming far too late, and much of the bad debt that we have accumulated needs to be defaulted on and the malinvestment of the last decade (housing, commercial real estate, the bulk of credit card purchases, student loans) needs to be erased off the books of banks as consumers realize that they'll never be able to pay back this money, and businesses realize that they're paying far too much for space at strip malls and restaurants b/c Americans can not afford to buy their wares and desperately need to replenish their savings. Real long term growth in an economy comes from investment, and real credit comes first from real savings, something that this economy lacks, and will continue to as long as interest rates are set at zero. You are a fool. And a dangerous one at that.
ReplyDeleteThat is true economic acumen. I can see why you have such a paltry following.
ReplyDelete