The Great Depression. Another Great Depression?

[seanD]

Maybe you should hold off on making predictions if you don't really know what you're doing, huh Mr. Camping?

Explain to me how the subject of the failure of municipalities has anything to do with picking dates for the second coming, of which I never did.

[Darth Executor]

Explain to me how the subject of the failure of municipalities has anything to do with picking dates for the second coming, of which I never did.

They are both serious predictions made by fanatics that never came true. And this is coming from someone who agrees with you that a collapse of some sort is coming. In fact I'll be making a civics thread about it shortly. I just know better than to think I can predict something move by move with pinpoint accuracy and then proudly proclaim it in public.

[seanD]

They are both serious predictions made by fanatics that never came true. And this is coming from someone who agrees with you that a collapse of some sort is coming. In fact I'll be making a civics thread about it shortly. I just know better than to think I can predict something move by move with pinpoint accuracy and then proudly proclaim it in public.

Um, you're incorrect. The collapse of municipalities is a growing fact…

http://www.cnbc.com/id/48132752

http://www.businessweek.com/news/201...cipal-collapse

It’s just happening a few months later than I anticipated. And many more will happen in the near future, rest assured. Accusing me of being Camping was a serious charge even for you. But not only have I never picked a date for the parousia, the subject of the economy doesn’t even have anything to do with eschatology. So I’m mystified where that accusation came from and why.

[Darth Executor]

Um, you're incorrect. The collapse of municipalities is a growing fact…

http://www.cnbc.com/id/48132752

http://www.businessweek.com/news/201...cipal-collapse

It’s just happening a few months later than I anticipated. And many more will happen in the near future, rest assured. Accusing me of being Camping was a serious charge even for you. But not only have I never picked a date for the parousia, the subject of the economy doesn’t even have anything to do with eschatology. So I’m mystified where that accusation came from and why.

Yes, some liberal municipalities are collapsing. That is to be expected because left wing economics inevitably lead to collapse. However, you said "the collapse of western states and municipalities". A handful of municipalities hardly constitutes "the collapse of western states and municipalities".

Anyway, I didn't accuse you of anything, I made a sarcastic comment. I wasn't literally accusing you of being Camping, I was just poking fun at you using Camping because of the recent brouhaha involving his failed predictions.

[seanD]

Yes, some liberal municipalities are collapsing. That is to be expected because left wing economics inevitably lead to collapse. However, you said "the collapse of western states and municipalities". A handful of municipalities hardly constitutes "the collapse of western states and municipalities".

Anyway, I didn't accuse you of anything, I made a sarcastic comment. I wasn't literally accusing you of being Camping, I was just poking fun at you using Camping because of the recent brouhaha involving his failed predictions.

The comparison you made had nothing to with anything I’ve argued about economics, much less eschatology. It was a serious accusation, especially in this environment, and I expect a retraction or I’m going to report the post, something I’ve never done since I’ve been here.

[Darth Executor]

The comparison you made had nothing to with anything I’ve argued about economics, much less eschatology.

No, but it had something to do with failed predictions, which is why I made it.

It was a serious accusation, especially in this environment, and I expect a retraction or I’m going to report the post, something I’ve never done since I’ve been here.

I doubt a single moderator here is stupid enough to think I was saying you are actually Harold Camping. It was a sarcastic jab which last I checked is not against tweb rules. I will retract nothing because I did not make the accusation your paranoid, oversensitive brain thinks I made. Get a sense of humor.

[seanD]

No, but it had something to do with failed predictions, which is why I made it..

Your comparison was obviously incorrect. And it wasn't even a prediction. Countless number of real economists are echoing what I've been saying because it's obvious to anyone looking at the facts (facts that are available to anyone) and knows what they're looking at. Just because people don't see a tsunami on the horizon doesn't make someone who does see it a prediction. The fact that ignorance reigns supreme about an event doesn't make the event a prediction.

[seanD]

I apologize for hijacking your thread, Augustine.

[Augustine2004]

I apologize for hijacking your thread, Augustine.

Heh, I do agree with Darth. Making an analogy with another person is hardly a federal matter, let alone a thing for TWeb mods to mod. Just laugh it off.

Sean does not realize credit is essentially money. The vertical rise of the money supply (M1, M2 or whatever) is scary, but the amount of credit--the money supply is yet like a pimple on an elephant's head. I don't remember the numbers, something like 6000T in credit v. 3T money supply? A while ago, the credit graph was falling. I don't know where the graph is now, but it may merely still below the peak that it reached many months ago. IOW, DEflation. Not hyperinflation. Unfortunately, weather is causing food prices to explode through the roof.

[seanD]

Heh, I do agree with Darth. Making an analogy with another person is hardly a federal matter, let alone a thing for TWeb mods to mod. Just laugh it off.

Sean does not realize credit is essentially money. The vertical rise of the money supply (M1, M2 or whatever) is scary, but the amount of credit--the money supply is yet like a pimple on an elephant's head. I don't remember the numbers, something like 6000T in credit v. 3T money supply? A while ago, the credit graph was falling. I don't know where the graph is now, but it may merely still below the peak that it reached many months ago. IOW, DEflation. Not hyperinflation. Unfortunately, weather is causing food prices to explode through the roof.

Correct, but they're going to have to print faster and faster and more and more to keep up with the deflationary spiral as the credit bubble deflates. It's either going way up high or way down low (or both in the case of stagflation). My argument is that they're not going to ever let it go down because the entire global economy will go down together including the wealthy. So if they don't allow it to go down, this will require them to continue accelerating bailouts, monetization and stimulus world-wide (which we're seeing occur now).

[Augustine2004]

rate of savings by the wealthiest Americans:

2nd Q, 2012: 34%

2007: 12%

Maybe those folks are scared. They are much less sure what will happen.

[Augustine2004]

Is it true that the world's largest economy is imploding? Can you find something in this article to refute?
http://theeconomiccollapseblog.com/a...nt-of-our-eyes

My guess is Germany will leave the EU and save a bit of its skin. But, apres Spain, France?

[Augustine2004]

Dr. Steve Sjuggerud claims a correlation between national debt load and unemployment. For example, Hong Kong has a debt to GDP ratio of 10% and sports a unemployment rate that's among the lowest in the world (3.4%). The EU, 82% and 11.7%.

The youth of the world is getting the worst of it, with unemployment in places above 50%.

If he's practically correct, then we simply must get our government spending under control. Unfortunately, the power elite has a pretty firm grip on the reins. A wheel on our stagecoach will come loose sometime because too much spending (the youth revolting or rioting, for one thing). Be prepared.