Jim Willie's latest

derryb

I get the feeling he doesn't care for Bernanke.

jmski52

Thanks, derryb. I like to print his stuff and read it at my leisure. This will be an enjoyable read tonight, now that I'm back from my road trip.

jmski52

Jim thinks that a Cyprus-like financial meltdown (theft) is coming fairly soon. I have mixed feelings. Like several posters in one of the other threads, when I get out and look around, it seems like things are doing ok. However, when I consider the data on personal & governmental debt, and both personal finances and government finances, and then when I factor in the never-ending attacks on capital and personal savings, I must agree with Willie. You don't see people's personal financial situations simply by looking at who's going to restaurants, who's driving new cars or even who's buying new homes with poor credit. The government is giving unworthy folks free money in ever larger amounts now.

When I keep hearing the realities about job losses and more government subsidies to unqualified borrowers, it seems to me that a different ethos is being created and that we are fighting a nasty problem with the Cloward & Pivens types, all the way down the line. The only media voices that focus on the dollar's shrinking status as the international currency reserve unit are Jim Sinclair and Jim Willie. The implications of the dollar's rejection by more and more countries - gives me pause. It should give everyone pause.

Bernanke is on record saying that devaluing the dollar won't affect people in the US. I've never heard such a bunch of crap in my life.

streeter

Wylie is correct in that too many people have taken advantage
of bubbles to make a living in this country.

However, since he neither works nor produces anything...what he misses
is the current trend of successful business operations. Things like good
products, good management, good customer service

Just look at the financial geniuses that have chased yields for the last 10 years.
90% of those people are soon to be nextdinosaurs on the run looking for the next
bubble to make a few bucks to survive.

Sears, kmart, jcpenney, HP, wachovia, stockton, cyprus didn't get it.

When times ate good, enjoy life. When things are tough, you put your
head down and your a$$ up and work twice as hard.

Baley

<< <i>Wylie is correct in that too many people have taken advantage
of bubbles to make a living in this country.

However, since he neither works nor produces anything...what he misses
is the current trend of successful business operations. Things like good
products, good management, good customer service .

Just look at the financial geniuses that have chased yields .[metals]. for the last 10 years.
90% of those people are soon to be next dinosaurs on the run looking for the next
bubble to make a few bucks to survive.
. >>



What an ironic thing to post on a forum about precious metals trading and prices very good very good

jmski52

There's so much potential here in this country being wasted and destroyed by the entitlement mentality.

It's too easy for scammers to get freebies that are paid for by other people and - the kicker is that many people who are truly in need are too proud to apply for help.

It gives me severe cognitive dissonance.

streeter

Baley,
Metals are GOOD. For 10-25%.

This country is in an undeclared civil war right now. Then we'll have 10-20
years of reconstruction. I feel sorry for the Free Sh*t Army for the next 20 years. Tough times ahead.

As we said in college 40 years ago..Go hard or go home.

streeter

Baley,

My grammer, etal needs the spelling police..I'm posting from a new phone and
I need all the help I can get.
Editing is useless. Ate equals are.

KUCH

However, since he neither works nor produces anything...what he misses
is the current trend of successful business operations. Things like good
products, good management, good customer service



The above statement makes perfect sense in a perfect world, which has past. I believe what you/others fail to realize is that we are in a global government debt crisis!!!!!!! It's Marxism at it's finest. "The harsh police state will be the outcome from refusal to liquidate the BIG US banks." It's Marxism. 0% Fed rates and QE 1,2,3,4 have not done the trick. "America has no concept or comprehension of capitalism or capital formation."

It's Marxism.

Those in power choose to address gun control, illegal immigration, no budgets as a distraction to avoid dealing with this debt crisis. Then, BAM, austerity will hit like Greece, Spain, Portugal, and now the "bail-in" Cyprus. Shazam, you're cash in the bank is gone, the equities market has fallen to zero. It will not matter how good our products are, nor good management because our global trade will be ZERO.

Important question: Do you believe the world will continue to trade the US dollar as the reserve currency???????????? I'm curious how many of you have UST Bonds in your portfolio and what percent? Have you increased or decreased bond purchases the past 6 years?

It's Marxism

If we do nothing and just stay in the paper markets, we are at the mercy of these Marxists. If the majority would exit the paper markets, we could fight this debt crisis and possibly save this once great free prosperous land. (as an aside.... I didn't mention manipulation once......

it's MARXISM, the other M word.

Text

streeter

Kuch,
You remind me of a few disgruntled grad students I used to know.

It's not the end of the world.


Know your market, make quality product, take care of your customers. Ask Mercedes, ask CAT, ask Boeing. Or ask the little guy with
5-100 employees.

The rest is rhetoric. We just have bad demographics in theUSA right now. This to shall pass...about 20 years.

roadrunner

It's a lot more than just bad demographics. It's also

bad debt
bad entitlements
bad derivatives ($600 TRILL worth)/bad banks
bad politicians/bad electorate
huge RE foreclosure glut

Would agree that in 20 yrs it will have reset...but not just due to demographics. The old system will have been blown up or totally revamped.

Baley

<< <i>
Would agree that in 20 yrs it will have reset...but not just due to demographics. The old system will have been blown up or totally revamped. >>



Disagree.

I think "the system" (whatever that is, I guess the whole shebang, "the way things are") will continue to evolve in what they call "punctuated equilibrium"

Sure, reforms will be made, and there may be periodic "selection events" characterized by temporary (relative) chaos in certain subset or segments of "the system of everything" in America.

IMO and prediction, None of us alive now will ever see "the old system blown up or totally revamped" (whatever that means, I guess extreme SHTF like a civil war, new Revolution, or overthrow of the Constitution)





























I can already read what some of you're about to write, "it's already overthrown as far as I'm concerned and define it" and I'll preemtively disagree with that, too

Baley

Streeter, your grammAr aside, what I thought was delightfully ironic about your post was it's implication that people that profit from bubbles are doing something wrong, when many of your readers have profited greatly from the precious metals bubble of 2009-2011. Equally amusing was the bolded part about such people not producing anything, as if there were any net gain to anyone from someone buying a piece of metal for one price and selling it later for a higher price (except for the bubble exploiter, of course) Fun Stuff! At least we're honest with ourselves.

derryb

<< <i>[I think "the system" (whatever that is, I guess the whole shebang, "the way things are") will continue to evolve in what they call "punctuated equilibrium" Sure, reforms will be made, and there may be periodic "selection events" characterized by temporary (relative) chaos in certain subset or segments of "the system of everything" in America. IMO and prediction, None of us alive now will ever see "the old system blown up or totally revamped" (whatever that means, I guess extreme SHTF like a civil war, new Revolution, or overthrow of the Constitution) >>


I agree. We are however doomed to many years of economic misery until the financial house is put in order, control of it removed from the banksters, and greedy/corrupt leadership held accountable. Iceland is showing that it can be done, while Japan continues to demonstrate what not to do. Ironically, Japan was one of the first down this current path and chose to follow advice from US economic planners who, after seeing the failed results in Japan, stupidly decided to apply the same "prescription" when our own economy went sour. We don't seem to learn from our mistakes let alone from those of others.

QE can never really end; once the FED loses control of the bond marked and/or interest rates the very fragile house of cards collapses. Washington is once again pressuring banks to provide easy homeowner loans coupled with artificially low interest rates - deja' vu. Debt (to the banksters) at all levels created current conditions and it will prolong them until we say "no more" with more than just our mouths.

Not all stackers are preparing for SHTF, most are positioning to avoid the economic misery that continues to inflict pain on a growing number of their fellow citizens.

streeter

I'd post something profound right now but I'm currently in shock.

I just learned that USC's incoming freshman have higher SAT scores
than Berkeley frosh.

OnlyGoldIsMoney

<< <i>There's so much potential here in this country being wasted and destroyed by the entitlement mentality.

It's too easy for scammers to get freebies that are paid for by other people and - the kicker is that many people who are truly in need are too proud to apply for help.

It gives me severe cognitive dissonance. >>



This

In my work I frequently encounter an aggressive entitlement attitude as I administer government programs. It is amazing how many people will misrepresent income in order to take advantage of programs intended to aid the truly needy. In contrast I recall my disappointment in not being able to convince a WWII veteran (BB New Mexico kamikaze attack survivor) to accept grant assistance to repair his home.

derryb

<< <i>In my work I frequently encounter an aggressive entitlement attitude as I administer government programs. It is amazing how many people will misrepresent income in order to take advantage of programs intended to aid the truly needs. In contrast I recall my disappointment in not being able to convince a WWII veteran (BB New Mexico kamikaze attack survivor) to accept grant assistance to repair his home. >>


You can take most anything from a man but his pride. You cannot give pride to a man to whom youhave given most everything else.

jmski52

Streeter, your grammAr aside, what I thought was delightfully ironic about your post was it's implication that people that profit from bubbles are doing something wrong, when many of your readers have profited greatly from the precious metals bubble of 2009-2011.

Some people have a different opinion about gold's being in "a bubble". Sprott explains it for you.

Equally amusing was the bolded part about such people not producing anything, as if there were any net gain to anyone from someone buying a piece of metal for one price and selling it later for a higher price

Some people work very hard to produce and then buy gold in order to protect what they've managed to save. The fact that the price might rise substantially does not mean that anyone's come out way ahead. It means that everyone who didn't buy gold has fallen that much further behind.

derryb

<< <i>Some people work very hard to produce and then buy gold in order to protect what they've managed to save. The fact that the price might rise substantially does not mean that anyone's come out way ahead. It means that everyone who didn't buy gold has fallen that much further behind. >>


And this is what seperates Gold (and all PMSs) from the rest of the FED inflated market PM prices are not inflated, they only reflect the bubbles being blown around them via "easy" money. A recent drop in PM prices is only the result of a recent (yet temporary) drop in the air being pumped into the surrounding bubbles and of the staged downtalk of continued QE.

KUCH

<< <i>Kuch,
You remind me of a few disgruntled grad students I used to know.

It's not the end of the world.


Know your market, make quality product, take care of your customers. Ask Mercedes, ask CAT, ask Boeing. Or ask the little guy with
5-100 employees.

The rest is rhetoric. We just have bad demographics in theUSA right now. This to shall pass...about 20 years. >>



Ok, now that I have had my little rant, I feel better. Not disgruntled, just disgusted. The depression was way before my time, but I saw the distruction of the 60's, 70's, 80's. then we had some good economic times in the 90's-2000's. Yea, this global debt crisis has got me a little spooked and these tax hikes, OMG. Time for a break, going to Augusta next week to watch the Masters and playing some golf.

cohodk

As we said in college 40 years ago..Go hard or go home


I think what was said was, "If I get drafted im going to Canada."

It is ironic that the generation that got us here whines the most. Oh well, 20 or so more years---as you suggest---will rid us of a massive demographic problem.

cohodk

however doomed to many years of economic misery

I know lots of people who are seeing huge opportunities in this economy and are making the most of it. Some people are followers (herders). Others are leaders. To each his own.

cohodk

I just learned that USC's incoming freshman have higher SAT scores than Berkeley frosh

True story. I had a student at Berkeley write me a check and she wrote the word motors as moters.