James Turk – Key Factors in Silver’s Bull Market
This presentation is from Nov 2008. 1 of 4 A positive spin on bankruptcies in Dubai
In most developed countries when people go bankrupt they become dependent on a government “social safety net” and drain the nation’s resources with unproductive expenditures. Keeping people fed is important, but it’s not going to help stimulate an economy out of recession. People aren’t likely to increase consumption with diminished income from employment insurance or the credit cards they don’t have. They aren’t likely to become more productive in a job they lost. Social stabilizer, yes. Economic recovery plan, no. Lindsay Williams predicts total collapse within 12 months
This guy claimed back when oil was near its peak that he was given inside knowledge of a coming oil collapse, the purpose of which would be to bankrupt OPEC countries and consolidate control over America. I remember reading his article at the time, and ignoring it, thinking he was nuts. I forgot about it until I came across this interview with Alex Jones. Deflation in Zimbabwe?
How can a currency be in short supply and hyperinflationary at the same time? Economics 101 tells us that reducing supply should increase price, but that doesn’t seem to apply in this case. Perhaps it’s because most banking happens electronically, or perhaps it’s because hyperinflation is as much psychological as monetary. They have lost confidence in the Zimbabwe dollar and there is nothing the government can do about it. Once the process gets going, even if you take away the punch bowl nobody cares. I seem to remember Bernanke making the case US dollars will not lose their reserve currency status because there is a shortage around the world. Hyper-inflation is not off the table
I haven’t been shy about warning the dollar is doomed. The long run is fast approaching, but that doesn’t mean it will arrive tomorrow. It could, but it probably won’t. We have seen a powerful dollar rally over the last year and many people believe it will continue. I think they’re wrong. The Housing Collapse of 2009 May Be Worse Than 2008
Who won WW2?
I’ve been listening to The Tarp Song all afternoon and it reminded me of these clips with Peter Schiff and Stephen Leeb arguing about an auto sector bailout. Can you discredit doomsday?
This week I had a short discussion with a family friend who happens to be a financial advisor. He was asked for his take on the whole financial mess, below is a summary of what transpired. Keep in mind he has been in the business for a long time and is very mainstream. There isn’t a single original bone in his body, he strikes me as the kind of guy who will read all the research provided by his firm and believe every word of it. He’s smart, educated (PHD) and generally quite unremarkable in every other way. The bubble in US government bonds
The President-elect has already warned the world to expect massive deficits in the coming years. For the purpose of this post, I won’t discuss whether the spending surge will be productive or inflationary, I will merely ask the question – where will the money come from? The road to hyperinflation
Today The market for discretionary goods is very large and volatile. There are certainly many things people can do without, but spending will never go to nothing. The performance of the market is irrelevant to our need for food and shelter. People may frequent restaurants less often and moderate their living conditions, but they will eat something, wear something and live somewhere. Homes will be heated, electricity will flow, cell phones will transmit and some form of transportation will still be required. As unemployment grows people will flock to reasonably priced entertainment. Prices may adjust as usage is moderated but these things will never go away. |
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