Interesting interview on the global economy

[Fransisco]

Speaking of which.

I had drinks with a few people the other night one of which firmly believed that we would not be in a global economic crisis if only George Bush had found WMD's in Iraq.

[vagabonddreamer]

tell ya what though...i HONESTLY believe...that computers and the internet...would be the vehicles that facillitated this sort of manipulation if it WERE possible...think of how quickly information/news/stock trading/commodity marketing...CONSPIRACY THEORIES (lol)...can be spread...on a VERY large scale...for VERY little money...25 years ago...we had fax machines and teletypes...lol...vs

[TOM4CWB]

Vega;

..."if only George Bush had found WMD's in Iraq"....

Think about what you just said... NOW...What makes you think they didn't find the the capacity to produce them?

Why were the documents that proved the connection... between Sadam and Bin Laden... not carried by the main stream media?

Isn't everything going along... just as required... to position the world financial system... for a takeover by the IMF/ 'New World Order'?

Who... in a reasonable logical state of mind... after all this occurs over the past 18 months... would object... to a system that saves the world from Volatility that easily has the capacity to destroy every productive economy on the planet... ???

Are you actually trying to convince me that Putin... is going to peacefully solve the problems in Russia/FSU... that Pakistan is moving its troops over to the border with India... so the US is just 'tempted' to invade Pakistan [to clean out Bin Laden/Taliban]... and the Russians/Iran will just let this all ride?

And this is all happening 'just by accident'?

I have some 'Ocean front property in Killam' I can sell you!

[wilagro]

Francisco: Perhaps the likes of Anthony Boeckh are really part of the problem.
In his role as a University Professor, he should have recognized the signs that would foretell the current "recession/depression" phenomena and perhaps have warned about a possible shakedown of the financial markets.

As a founding trustee of the Fraser Institute, I am sure that Anthony Boeckh will defend the system despite its obvious flaws.

These people would like to police their own industry, but really what is needed is some binding Federal legislation to ensure stability and public trust.

[cottonpicken]

I agree with first two paragraghs but not the last wilagro.

As far as the interview the first part was reasonable but the last was not.

I will give him his due for some of the "inflation" comments.

But how can you talk about gold standard,and then the thirties, and then it wont be that bad,but there might be a complete breakdown?

I'd love to talk to him personally,because it seemed like a different type of interview where he might know more than is let on but he cant help letting a few cats out of the back.

Good post Fran.

I like reading conspiracies vaga,but i dont ever bother dealing with unsubstansiated facts.The dozens and dozens of different bileberg type groups out there can not really control anything for any length of time,the world is BIG not small.

[TOM4CWB]

Cottonpicken,

This is like saying:

"Energy can be neither be created nor destroyed" as a principal that is impossible to break... and then answering how all this "energy" and the system itself got created in the first place!

Duuuuh!


What caused the break down of the financial system earlier this year?

The tooth fairy?

No.

Real live people... caused it... and continue to feed this... because it feeds/meets the needs of the plan they have.

How can you convince a reasonable person... this financial break down... was caused by natural/disaster factors!???

[vagabonddreamer]

i dont know about that CP...once upon a time...the world was huge...but the fact is...technology...has taken over...real time news and auto stock market programs...have caused several near misses over the years...

REALLY...if you look at sheer numbers...the sub-prime thing...was a mere SPECK in relation to the US economy...yet...we are using sub-prime as the scapegoat for everything..

i think...the world is more educated and therefore more susceptible to these HUGE scams...

where are the country folks of the old days...who's adage was "i'm from Kansas ..SHOW me"??? do you remember that attitude CP??

the propensity of people to listen to mainstream media...is amazing..when you acutally realize how easily and how frequently it is manipulated...vs

[Fransisco]

I found his comment on oil quite interesting. That things are going to be a lot worse in the next cycle because all the oil companies are pulling all their capitilaztion projects off the table with the current collapse of oil prices.

[liberty]

The one thing I find puzzling is this quote:

"...the Treasury and the Fed are so deep in this thing in terms of bailouts, there's no way they're going to stop. Eventually, I think it's going to work. That's why I don't think we're looking at a 1930s scenario."

I'm not sure what he means by "work", but maybe he means "forestall a serious deflation". I do agree that the Fed intends to completely monetize all the bad debts out there, and we're nowhere near being done with clearing out bad debt. The Adjustable Rate Mortgages in the U.S. are due to start resetting in the next year or two, so any recovery in stocks in the next six months is likely to be very temporary. If you have investments in the broad market (i.e. what mutual fund salesmen call "diversified investments") you may want to use the rallies as selling opportunities.

This monetization is going to do two things: it will shred the value of the American dollar, thus ending its reign as the world's reserve currency, and spark massive inflation, or possibly hyperinflation, in the U.S. Unfortunately, I suspect that the Canadian central bank will feel compelled to maintain a semblance of parity between the Canadian and the U.S. dollar, and follow the Fed down the inflation path as well.

In nominal terms, the broad stock market may trend upward over the next few years, but if you factor in inflation, most investors will still be losing money.

[parsley]

Good chance barrels of oil will not continue to be priced in US dollars. Pars