World Financial Crisis Over ?

[registered nutcase]

Haha, classic

Swanny you little spin doctor!

hes correct oz is far from an emergency & anyone that thinks otherwise shouldnt be taken seriously

Or perhaps, just maybe he "isn't credible and can't be taken seriously"

 

[renovator]

Haha, classic

Swanny you little spin doctor!

hes correct oz is far from an emergency & anyone that thinks otherwise shouldnt be taken seriously

Or perhaps, just maybe he "isn't credible and can't be taken seriously"

lol i thought that was a given & not up for debate :

 

[Auspm]

You guys tell me, is the 'Crisis' over?

I think the people with skin in the current climate will continue to exert irrational exuberance on the markets because of the nature of modern markets - it's a confidence game.

There's a LOT of liars out there right now. People like to point at the politicians and the elite as spin doctors, but in reality it's permeating through all of society... even right down to the stacker level.

Whilst you can certainly be quietly confident and have an up beat attitude on the situation, no matter what state it's in, there's a lot to be said for being a realist about things and being prepared for a sudden shift in fortune.

Let it be noted that 2008 came as a 'shock' to many, many so called 'experts' out there and much of the current climate is built on propaganda, rather than sound economic fundamentals.



The top chart shows that the global economy is rotten to the core and that anyone who's selling you the pipe dream of 'happy days are here again' either has a vested interest in maintaining the current status quo, or are outright ignorant of the fundamentals.

A timely reminder of just how far the BULLSHIT in our society extends :

[youtube]http://www.youtube.com/watch?v=2I0QN-FYkpw[/youtube]



I have a very short fuse for the spin doctors, con artists and bullshit mongers - whether it be a politician, media magnate, 'industry expert' or full of crap silver stacker.

It doesn't take a genius to spot them either.



So with that in mind, I'm locking out the white noise. The fundamentals are still rotten to the core and absolutely NOTHING has changed. All we have now is another round of lies, deceit, misinformation and propaganda.

2013 will STILL see this little black duck stacking and laughing & calling out the bullshit peddlers, no matter which kitchen white good they crawl from under to sell their snake oil.

 

[bordsilver]

 

[Auspm]

We've seen this bullshit parade before...

[youtube]http://www.youtube.com/watch?v=IWrX6kC9Nhs[/youtube]

1929

"Black Thursday" 24th October Wall St loses 11%

"Black Monday" 28th October Wall St loses 13%

"Black Tuesday" 29th October Wall St loses 12%

"There is no cause to worry. The high tide of prosperity will continue."
-Sec. of Treasury, Andrew Mellon,September 1929.

"Stock prices have reached what looks like a permanently high plateau".
-Yale Economist Irving Fisher, October 16th 1929.

"This crash is not going to have much effect on business."
- Chairman Arthur Reynolds, Continental Illinois Bank of Chicago, October 24th 1929.

"I have no fear of another comparable decline."
- Arthur W. Loasby, President Equitable Trust Co. October 25th 1929.

1930

"While the crash only took place six months ago, I am convinced we have passed the worst and with continued unity of effort we shall rapidly recover."
-President Hoover, May 1930.

"We have hit bottom and are on the upswing."
- Sec. of Labor James Davis, September 1930.

"I see no reason why 1931 should not be an extremely good year."
- Alfred Sloan Jr, General Motors Co., November 1930.

1931

"The depression has ended."
- Dr. Julius Klein, Ass. Sec. Commerce, June 1931.

"REDISCOUNT RATE CUT TO 1% RECORD LOW: Federal Reserve Bank Takes Drastic Action."
- May 8th 1931.

"You see in the old days there was mighty few things bought on credit. Your taste had to be in harmony with your income, for it had never been any other way.
I don't reckon there has ever been a time in American homes when there was as much junk in 'em as there is today... everybody has got more than they used to have, but they haven't got as much as they thought they ought to have.
If we could just go back the last two or three years and do our buying a little more carefully, why... we would be O.K."
- Will Rogers.


"I'm not against (bull fighting). Some nations like to see blood, and some like to see their victims suffer from speculation... They kill the bull very quick. Wall Street lets you live and suffer."
- Will Rogers.

1932

"In other periods of depression, it has always been possible to see some things which were solid and upon which you could base hope... but as I look around about, I now see nothing to give ground to hope."
- Former President Coolidge.

"Bankers are likeable rascals. Now that we are all wise to 'em, it's been shown that they don't know any more about finances than the rest of us know about our businesses... which has proved to be nothing."
- Will Rogers.

- Stock Investor's Desperate Sign.

1933

"The only thing we have to fear is fear itself."
- President Franklin Roosevelt, inaugural address 1933.

"If, with all the advantages I've got, I can't make a living... I'm just no good, I guess."
- Unemployed Texas school teacher, 1933.

- Unemployed man's sign.

1934

Sign held by unemployed man's son.

Sign on the outskirts of an American town.

1935

"Our whole Depression was brought on by gambling, not in the stock market alone but in expanding and borrowing and going in debt... all just to make some easy money quick."
- Will Rogers.

The Death of the Roaring Twenties

"Then the bubble burst... 'Brother, Can You Spare A Dime?'... The sidewalks are ripped out and used for fuel... With no one buying, farmers are forced to destroy their own produce."

[youtube]http://www.youtube.com/watch?v=YM8yxBL21Pk[/youtube]

Rioting Across America

... "5,000 are in the milling mob, outnumbering the police 10 to 1. A duel beginning in hand to hand fighting in which one deputy was beaten to death and scores were injured."

[youtube]http://www.youtube.com/watch?v=exuGv3HsV-U[/youtube]



Let me repost that last quote AGAIN for absolute emphasis :

"Our whole Depression was brought on by gambling, not in the stock market alone but in expanding and borrowing and going in debt... all just to make some easy money quick."

... Will Rogers


We are doing the exact same thing again and are on the exact same timeline, even down to the repetition of the bullshit fed to the masses to placate them to the end.

Even on SS, how many threads do we have pushing the same ideals that history has taught us leads to destruction?

Wake up people. WAKE UP!

 

[bordsilver]

^ That's a very quotable post Aus. Ta.

 

[Peter]

It's just starting.These have been the initial tremors.

 

[renovator]

hes correct oz is far from an emergency & anyone that thinks otherwise shouldnt be taken seriously

BAU is it? Are you one of these people that thinks the path to ZIRP is a good one?

Good for you.

I dont think any of the paths they are taking are good but i do know oz is nowhere near an emergency unlike many other countries .

Feel free to enlighten me on how you have come to the conclusion we are in an emergency ....im all ears .

Im waiting for you explanation on why oz is in an emergency . ?

 

[valuecreator]

BAU is it? Are you one of these people that thinks the path to ZIRP is a good one?

Good for you.

I dont think any of the paths they are taking are good but i do know oz is nowhere near an emergency unlike many other countries .

Feel free to enlighten me on how you have come to the conclusion we are in an emergency ....im all ears .

Im waiting for you explanation on why oz is in an emergency . ?

Because we're a pimple on the US ass, and the US is in an emergency.

 

[renovator]

^ That's a very quotable post Aus. Ta.

What a croc of cow patties . We will never get that bad . just another fearmongering pile of rubbish .

Run little kiddies run the boogey man is coming :lol:

 

[volrathy]

I dont think any of the paths they are taking are good but i do know oz is nowhere near an emergency unlike many other countries .

Feel free to enlighten me on how you have come to the conclusion we are in an emergency ....im all ears .

Im waiting for you explanation on why oz is in an emergency . ?

Because we're a pimple on the US ass, and the US is in an emergency.

The major thing I could see it doing is the USD crashes and our dollar goes to like .$1.90 or something insane this would cripple all our mineral exports as the prices would be exuberant

but as far as debt goes we arent in trouble

 

[trew]

^ That's a very quotable post Aus. Ta.

What a croc of cow patties . We will never get that bad . just another fearmongering pile of rubbish .

Well we could. If we do I am hopefully prepared.
If we don't then I am also prepared to carry on.

Prepare for the worst, hope for the best.

 

[renovator]

I dont think any of the paths they are taking are good but i do know oz is nowhere near an emergency unlike many other countries .

Feel free to enlighten me on how you have come to the conclusion we are in an emergency ....im all ears .

Im waiting for you explanation on why oz is in an emergency . ?

Because we're a pimple on the US ass, and the US is in an emergency.

Is that the best explanation youve got ? . :lol: hahahaha....... good work .We are a totally seperate economy than the us .. Thats like saying spain is fkd so germany must be too ..... Some places can hold their own & we are one of them our dollar isnt where it is by accident . Weve got enough foreign investment dollars coming in because they think its the best of a bad bunch to keep things afloat for a few years yet . Not to mention the raw materials supply that will continue even if china hits the skids( before any fool says it ) . We still sell to many other countries that will trickle us along nicely for a long time to come
.

 

[Dogmatix]

Me thinks you don't understand the 'global' in 'global economy'.

Why did the RBA drop rates reno? Why are they so low?

It's a prosperous time, should we not be beefing up rates and boosting our dollar?

I think you may yet again be stuck in the thinking pattern of 'if it sems good for me right now, it must be good on the whole'. Your perspective is internally facing, and that's why you can't see the big picture. It's okay, you have plenty of company across the country.

 

[renovator]

Im waiting for you explanation on why oz is in an emergency . ?

Because we're a pimple on the US ass, and the US is in an emergency.

The major thing I could see it doing is the USD crashes and our dollar goes to like .$1.90 or something insane this would cripple all our mineral exports as the prices would be exuberant

but as far as debt goes we arent in trouble

Thats a realistic post . But we will already have a lot of long term contracts signed & in progress . If that did happen im sure the powers would give subsidies to keep it going aslong as they could . Jesus the entire world is kicking the can you think we wont ? oh give me a break . Weve got years to make hay .We are the major suppliers to asia for lots of things its not feasible to get the raw products from anywhere else in the world atm . I know china has some coming online too.Mongolia i think from memory & both are being developed by australian companies AFAIK.

 

[thatguy]

^ That's a very quotable post Aus. Ta.

What a croc of cow patties . We will never get that bad . just another fearmongering pile of rubbish .

Run little kiddies run the boogey man is coming :lol:

it's different here :|

 

[renovator]

Me thinks you don't understand the 'global' in 'global economy'.

Why did the RBA drop rates reno? Why are they so low?

It's a prosperous time, should we not be beefing up rates and boosting our dollar?

I think you may yet again be stuck in the thinking pattern of 'if it sems good for me right now, it must be good on the whole'. Your perspective is internally facing, and that's why you can't see the big picture. It's okay, you have plenty of company across the country.

I understand global . Global doesnt mean every country in the world will be shot into dpression at the one time . Theres always countries that weather the storm better than others regardless of your "global "outlook .

So tell me did every country in the world have a major fiancial crisis in 2008 ? or did some coast through it with little to no affect ?

 

[wrcmad]

Just watched Kyle Bass vid - awesome.

For examples of optimism bias and memes becoming axiomatics through induction, see here ^^^^

Reno, have you seen it? http://forums.silverstackers.com/topic-34815-kyle-bass-americatalyst-page-1.html

 

[bordsilver]

...we might have done nothing. That would have been utter ruin. Instead we met the situation with proposals
to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of the Republic. We put it into action. . . . No government in Washington has hitherto considered that it held so broad a responsibility for leadership in such times. . . . For the first time in the history of depression, dividends, profits, and the cost of living, have been reduced before wages have suffered. . . . hey were maintained until the cost of living had decreased and the profits had practically vanished. They are now the highest real wages in the world.

Creating new jobs and giving to the whole system a new breath of life; nothing has ever been devised in our history which has done more for . . . "the common run of men and women." Some of the reactionary economists urged that we should allow the liquidation to take its course until we had found bottom. . . . We determined that we would not follow the advice of the bitterend liquidationists and see the whole body of debtors of the United States brought to bankruptcy and the savings of our people brought to destruction.

 

[Auspm]

^ That's a very quotable post Aus. Ta.

What a croc of cow patties . We will never get that bad . just another fearmongering pile of rubbish .

Run little kiddies run the boogey man is coming :lol:

Like I said, people with skin in the game will be the first to feed you their lies to keep you buying in.

Whether it's a banker, a politician or a rentier capitalist like yourself.

[youtube]http://www.youtube.com/watch?v=cjM45QkLeJY[/youtube]

[youtube]http://www.youtube.com/watch?v=hAu9U4ojO8Q[/youtube]

Australia is different, is it not?

Economics doesn't change because we have kangaroos & koalas. History proves this, even if you want to bury your head in the sand.

What's incredible is that you can laugh openly at people like Swan for their propaganda and yet... what do you do?

The 'boogey men' are people like you who will lie, cheat and misdirect others into a false sense of security to feed your bottom line.

I'm not promoting fear - I'm promoting real awareness of the path we are on and where it ultimately leads.

But there will always be conniving, opportunistic self interests out there (like yourself) who will present themselves as a voice of reason, when their ultimate goal is to maintain the status quo they profiteer from.

Your attitude is poison Reno, that's why I come after you with blades bare - I see you for what you really are.