Comments on: All bubbles are equal, but some bubbles are more equal than others http://www.creditwritedowns.com/2009/11/all-bubbles-are-equal-but-some-bubbles-are-more-equal-than-others.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Element http://www.creditwritedowns.com/2009/11/all-bubbles-are-equal-but-some-bubbles-are-more-equal-than-others.html#comment-57591 Element Fri, 13 Nov 2009 04:51:00 +0000 http://www.creditwritedowns.com/2009/11/all-bubbles-are-equal-but-some-bubbles-are-more-equal-than-others.html#comment-57591 "...The country [USA] is already broke, this is only going to accelerate that, we’re heading, the real economic crisis is in front of us, it’s not behind us! Before Barack Obama leaves office there will be a currency crisis, the US dollar will collapse, and prices in this country, for consumer goods, will go ballistic, and so will interest rates. And we’re going to be living in an economy with unemployment closing in on 20%, and double-digit inflation, and double-digit interest rates. This is economic ruin that is coming, and it’s because of the economic policies that you, that you, that you’re wanting Barack Obama to pursue!" [Peter Schiff] "But you are stuck with him, like it or lump it, for the next three years, so are you suggest--you’re, you’re talking as though the US is going to go down the drain under Obama! … What’s the alternative?" [George Negus - SBS Dateline] "But it is! That’s the problem! We continue, we’re continuing--Barack Obama is pursuing the Bush Agenda! That’s unfortunate, and, and Ben Bernanke is doing exactly what Alan Greenspan did! We are repeating all the same mistakes, because none of the politicians want to level with the American public, and tell them the truth about the gigantic hole that their policies have placed us in. We need to go back to a real economy in this country, unfortunately we have been living in a fantasyland, we’ve been living off the productivity and savings of the rest of the world! We are coming, as I said, to a real economic crisis in this country—that's going to make what happened in 2008, look like, you know, the Roaring-20’s, by comparison." - Peter Schiff – SBS Dateline, Nov 9th 2009. Peter the indomitable. His democratic counterpart got slaughtered and ended up just agreeing with most of what he said here. The double-digit inflation + interest may be a way off, but the picture is clear; "debt is bad hokay? I keep asking myself is any of this new? Didn't we already know all this? Why are we surprised about asset bubbles and debt growth? I knew of these problems when aged 25 and I'm no economist or financier--debt is a two-edged sword and both sides cut. How surprising. The only truely unacciountable thing here is that senior experts seem to say they didn't know. Why this extraordinary blindness? That might be an even more interesting question given the outcome. “…The country [USA] is already broke, this is only going to accelerate that, we’re heading, the real economic crisis is in front of us, it’s not behind us! Before Barack Obama leaves office there will be a currency crisis, the US dollar will collapse, and prices in this country, for consumer goods, will go ballistic, and so will interest rates. And we’re going to be living in an economy with unemployment closing in on 20%, and double-digit inflation, and double-digit interest rates. This is economic ruin that is coming, and it’s because of the economic policies that you, that you, that you’re wanting Barack Obama to pursue!” [Peter Schiff] “But you are stuck with him, like it or lump it, for the next three years, so are you suggest–you’re, you’re talking as though the US is going to go down the drain under Obama! … What’s the alternative?” [George Negus - SBS Dateline] “But it is! That’s the problem! We continue, we’re continuing–Barack Obama is pursuing the Bush Agenda! That’s unfortunate, and, and Ben Bernanke is doing exactly what Alan Greenspan did! We are repeating all the same mistakes, because none of the politicians want to level with the American public, and tell them the truth about the gigantic hole that their policies have placed us in. We need to go back to a real economy in this country, unfortunately we have been living in a fantasyland, we’ve been living off the productivity and savings of the rest of the world! We are coming, as I said, to a real economic crisis in this country—that’s going to make what happened in 2008, look like, you know, the Roaring-20’s, by comparison.” – Peter Schiff – SBS Dateline, Nov 9th 2009.

Peter the indomitable. His democratic counterpart got slaughtered and ended up just agreeing with most of what he said here. The double-digit inflation + interest may be a way off, but the picture is clear; “debt is bad hokay?

I keep asking myself is any of this new? Didn’t we already know all this? Why are we surprised about asset bubbles and debt growth? I knew of these problems when aged 25 and I’m no economist or financier–debt is a two-edged sword and both sides cut. How surprising.

The only truely unacciountable thing here is that senior experts seem to say they didn’t know. Why this extraordinary blindness? That might be an even more interesting question given the outcome.

]]> By: Carmeloc04 http://www.creditwritedowns.com/2009/11/all-bubbles-are-equal-but-some-bubbles-are-more-equal-than-others.html#comment-57557 Carmeloc04 Tue, 10 Nov 2009 17:24:00 +0000 http://www.creditwritedowns.com/2009/11/all-bubbles-are-equal-but-some-bubbles-are-more-equal-than-others.html#comment-57557 nothing has changed , all central bankers are incompetent. Bubbles (housing, nasdaq) are autoregulated , sooner or later pop up by themselves. The actual problem is that this new bubble o reflation is really fostered by central banks intentionally on the grounds that economy only needs time to accommodate itself as they consider this a circumstantial and not an structural problem. In the mean time savers as usual are harmed by keeping low artificial interest rates. This kind of bubble will explode once government bonds yields start increasing and ratings downgrading. nothing has changed , all central bankers are incompetent. Bubbles (housing, nasdaq) are autoregulated , sooner or later pop up by themselves. The actual problem is that this new bubble o reflation is really fostered by central banks intentionally on the grounds that economy only needs time to accommodate itself as they consider this a circumstantial and not an structural problem. In the mean time savers as usual are harmed by keeping low artificial interest rates. This kind of bubble will explode once government bonds yields start increasing and ratings downgrading.

]]>