Comments on: Doug Noland: "Significant Unavoidable Cost"

By: Brad Thrasher

Brad Thrasher — Sun, 01 Aug 2010 23:58:01 +0000

Hey Chief, your new boss, if you get your wish, will either be China. You know those wonderful folks don’t you? Make a mistake on the job and they take you out back and shoot your ass.

Or if you aren’t so lucky maybe you’ll live under Sharia law.

Either way, good frickin’ luck.

All the best,
Thrash

By: Brad Thrasher

Brad Thrasher — Sun, 01 Aug 2010 23:49:50 +0000

Calculated risk has a great series on Sovereign Debt. You can pick it up at 5A or read the entire series.

http://www.calculatedriskblog.com/2010/08/sovereign-debt-part-5c-some-policy.html

You guys are so lucky to have a liberal around, filling in the blanks and getting you the whole story

All the best,
Thrash

By: Rick

Rick — Sun, 01 Aug 2010 23:05:24 +0000

Having been a professional pilot for most of my life, I do not know much about how or why things work in the finical world, but as an adjunct to my flying career I did study catastrophic aircraft incidents as a kind of self defense mechanism.

And regardless of how, or why, or what preceded a catastrophic accident, what always killed everyone on board, was the very sudden stop…

And from what I can see from all the red lights, bells, and whistles going off, if the economy was an aircraft, it’d be time to kiss our ass’s goodbye…

By: bill hopen

bill hopen — Sun, 01 Aug 2010 21:30:52 +0000

Its completely possible for a wide deep and serious gobal deflation to occur, while several individual currencies have a confidence crisis that is the same as inflation…this would seem like inflation and deflation occurring at once.

deflation may occur if you price things in gold oz. while inflation for those same will inflate when priced in $….just be in the right store of value, don’t get caughtwith savings in the wrong currency or asset.

By: Chief

Chief — Sun, 01 Aug 2010 18:55:40 +0000

Not debt is your problem, but greed since eternal times. But now it’s game over, “les jeux sont faits, rien ne va plus”, because you have been so damned greedy that you even sold us the rope to hang you with

I hope you like the dollar bills as a new means for creative wall tapestry. Good luck and Hail to the Chief!

By: Brad Thrasher

Brad Thrasher — Sun, 01 Aug 2010 11:39:50 +0000

Noland misses the point entirely. As do those who smugly echo cliches having read neither the Austrian School economists or Keynes for themselves.

As Elizabeth Warren will gladly show you, deductive logic doesn’t produce facts. As any moron with a lick of common sense can show you, begin with a false premise, Austrian or Keynesian, and you will logically deduce an incorrect assumption, or in another word, junk.

As we slip back into a perpetual state of technical recession by accepted definition, two consecutive quarters of declining growth rates, the government is helpless. There is but one buyer of debt remaining.

Hail the Fed.

Frankly gentlemen, the question begging to be asked would be, “Is this system worth preserving?”

We certainly succeeded in having overthrown the King during the revolution begun in 1776. Duh@us for empowering the King’s banker.

All the best,
Thrash

By: scott

scott — Sun, 01 Aug 2010 04:54:06 +0000

We all know what is being perpetrated here. The relaxing of mark to market and the whole extend and pretend can’t continue forever. Just happy I’m in Texas; I see a whole lot of pain coming to those who have been gaming the system- and I am ready to see the whole fed subsidized lots legs kicked out from under them. Those without skills (with fake gov. jobs) and those who have never contributed a dime to taxes must be shamed for the country to survive. Should the taxing and the welfare crowd win, well US will simply no longer exist. I see ever widening gaps in morals and behaviors that now separate middle America from the West Coast and the Northeast. Either way it goes, that is the change I hope for.

By: Dave Z

Dave Z — Sun, 01 Aug 2010 03:11:43 +0000

I have railed about this very subject to my representatives and the Fed Board of Governors.

They have been coasting on 200 years of monetary credibility that supports the current fiat dollar.

If they loose that credibility by endless stimulus and QE. If a critical mass of people catch on that it’s a charade, the money is fake…game, set, and match. It’s all over and they can print an infinite amount of notes and it won’t matter.

By: ray

ray — Sat, 31 Jul 2010 21:36:42 +0000

I agree with Bruce. I find it hard to believe Prez. O is that dumb, he has to be doing this on purpose. Soon it will be the rich and the poor until there are rich no more. Ten Years After music fans.

By: r.ess

r.ess — Sat, 31 Jul 2010 18:16:46 +0000

The soundness and credibility of our money went out the window when we let the money people of the hook. To not punish wrong doers is a recipe for it to reoccur. So hold on because the rollercoaster is climbing a higher apex because the money people still need to take whatever is left over from the last ride.