tag:blogger.com,1999:blog-4921988708619968880.post3910319182449342718..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, September 12 2008: We have spent our futureIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger83125tag:blogger.com,1999:blog-4921988708619968880.post-6848396118635118652008-09-13T19:01:00.000-04:002008-09-13T19:01:00.000-04:00Paul -- Yours is by far the best comment in this t...Paul -- Yours is by far the best comment in this thread! BRAVO!<BR/><BR/>GSJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-57777778473828677882008-09-13T15:43:00.000-04:002008-09-13T15:43:00.000-04:00Sorry for the repetition.Sorry for the repetition.Paulhttps://www.blogger.com/profile/09157872703645656943noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82944723333673764202008-09-13T15:42:00.000-04:002008-09-13T15:42:00.000-04:00I wonder if anonymous thinks it possible that old ...I wonder if anonymous thinks it possible that old Blackjack Kennedy had a hot-shot computer database "at his very fingertips", when he made his fabled reply to the question as to why he sold all his stocks, when everyone else was buying, just before Big Depression I? "When the man who shines my shoes tells me what shares to buy, I know there's something seriously wrong with the market" (not Paulhttps://www.blogger.com/profile/09157872703645656943noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-24023422256845816752008-09-13T12:54:00.000-04:002008-09-13T12:54:00.000-04:00As sisyphus said “Can Illargi be more explicit wh...As sisyphus said “Can Illargi be more explicit why taxpayer "tab" for f&f is (can be) 5.5 trillion.”<BR/><BR/>Damn, I never had a problem with that statement as I understood it meant the government took on $5.5 trillion <B>in liabilities</B>. Not all mortgages will default. That is more all black or all white thinking, extreme but simple. AS Ilarqi said “US taxpayers? Get real, Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-12412994332356669692008-09-13T11:58:00.000-04:002008-09-13T11:58:00.000-04:00A true economy rests on the three legs of producti...A true economy rests on the three legs of production consumption and return. What we consider 'the economy' rests on only the two of production and consumption. For this two legged economy to be one of negative feedback is in essence not possible over time. While resources are plentiful the actual positive feedback aspect of a two legged 'economy' is not readily apparent but as in our present Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-11875028914412979932008-09-13T11:22:00.000-04:002008-09-13T11:22:00.000-04:00http://www.chrismartenson.com/peak-oil-b17b video...http://www.chrismartenson.com/peak-oil-b<BR/><BR/><BR/>17b video is ready.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52857577464137573842008-09-13T09:55:00.000-04:002008-09-13T09:55:00.000-04:00stoneleigh,Thank you for the response you took the...stoneleigh,<BR/>Thank you for the response you took the time to write, it was appreciated. I will check the library for the recommended reading you have provided. <BR/>BrendaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82547303033870360502008-09-13T09:32:00.000-04:002008-09-13T09:32:00.000-04:00Sisphus -- How many angels can dance on the head o...Sisphus -- How many angels can dance on the head of a pin? Please calibrate your answer on the micro and macro planes before responding ... and please...do take your time.<BR/><BR/>GSJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52987717820581186752008-09-13T09:24:00.000-04:002008-09-13T09:24:00.000-04:00Brenda,Ilargi and I are both based in Canada (alth...Brenda,<BR/><BR/>Ilargi and I are both based in Canada (although we are originally Europeans). Be patient and you will see that you made the right decision. House prices in Canada will fall just as far, even though Canada is lagging about a year behind the US. The oil boom is not all it's cracked up to be and Calgary in particular is in for an enormous bust. <BR/><BR/>Conventional oil and gas, Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36350120201592730182008-09-13T09:22:00.000-04:002008-09-13T09:22:00.000-04:00Whew! That was refreshing read."And lastly, I wil...Whew! That was refreshing read.<BR/><BR/>"And lastly, I will confess that my main interest in your blog, and others like it, is that somehow you all have managed to get a significant amount of all of this right, with a correct call from the beginning, yet it seems to me that you all lack real training in and knowledge of finance. So somehow you all intuited this, which is either very impressive Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71110788985437691422008-09-13T09:13:00.000-04:002008-09-13T09:13:00.000-04:00Sisyphus,Sorry about the snark re economics, but I...Sisyphus,<BR/><BR/>Sorry about the snark re economics, but I did follow it by a wink to indicate I was teasing the economics profession to some extent. I'm all for a lifetime of learning - <I>ancora imparo</I> - but I don't think it has to be formal training to be valuable, and I think breadth has as much value as depth. I have been studying economics and finance, particularly finance, Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19118799908595484942008-09-13T09:04:00.000-04:002008-09-13T09:04:00.000-04:00Anon, You got me there with the " easy "...Anon, You got me there with the " easy " questions. I can't answer them.<BR/>I am one of those whose financial education came from my father/society that I marry a rich man.<BR/>About those financial statements... Seems many trained in finance interpret them differently. For instance just a few months ago Lockhart read the statements of F & F and deemed them well capitalized. scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-64767838593100205852008-09-13T09:01:00.000-04:002008-09-13T09:01:00.000-04:00When I looked at todays comments I expectected the...When I looked at todays comments I expectected the usual 20 - 30 odd but 70 I am blown away :<BR/>2 things: in this blog frenzy I just couldn't be left out ;)<BR/>and 2nd to all the Anons who have just suddenly felt the urge to have their say please put a name there so we can rapidly learn to see which ones really write @#%p and we can by pass then without having to waste time.<BR/><BR/>Happy HappySurferhttps://www.blogger.com/profile/02616436901153873742noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34664498634373431482008-09-13T08:37:00.000-04:002008-09-13T08:37:00.000-04:00Marianne and I are roommates. She's doing some 12...Marianne and I are roommates. She's doing some 12 hour shifts right now. We both got scared and sold our houses. It was suggested we read Garth Turner's book Greater Fool which I did last night. I then went onto his blog - other people from Calgary are frustrated as prices there aren't dropping significantly. MSM has quoted a study by the business dept at UBC saying that Calgary is 7% Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14723240670937887902008-09-13T07:13:00.000-04:002008-09-13T07:13:00.000-04:00@generic beer "Paid Trolls".I was thinking the sam...@generic beer "Paid Trolls".<BR/>I was thinking the same thing after reading 'anonymous critic'. Someone is clearly very worried and trying to quiet the few on this blog before the many become aware of the severity of the crisis.<BR/><BR/>The fact that 'anonymous critic' showed up today indicates to me that the bubble is close to bursting. <BR/><BR/>I am most thankful for both Ilargi and Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6153542861340754232008-09-13T05:52:00.000-04:002008-09-13T05:52:00.000-04:00The tone of comments today brought to mind another...The tone of comments today brought to mind another old expression - 'the veneer of civilization' How quickly it disappears in times of hardship.<BR/>I have become a dedicated reader and agree that intuition gets short shrift among those challenged by abstract thinking. I am constantly amazed at seemingly intelligent people that forget that these problems are global rather than domestic. And Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-61028153577544815442008-09-13T05:48:00.000-04:002008-09-13T05:48:00.000-04:00Stoneleigh,many thanks for your well-balanced comm...Stoneleigh,<BR/><BR/>many thanks for your well-balanced comments. Although, I feel a bit annoyed by the constant negative bias against others which even you exhibit. This anon guy's and Ilargi's comments score way too high on the bossiness scale. Anon said a couple of things which I'd like to understand in more depth as he is pointing to interesting dynamics in subsystems which I haveAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-28583007890078766002008-09-13T03:11:00.000-04:002008-09-13T03:11:00.000-04:00With regard to freemarketzombie's miraculous datab...With regard to freemarketzombie's miraculous database that shows an impressively small number of foreclosure problems: Mish Shedlock over at Global Economic Analysis has been <A HREF="http://globaleconomicanalysis.blogspot.com/2008/09/wamu-pool-wmalt-2007-0c1-august-update.html" REL="nofollow">tracking one of WaMu's Alt-A pools</A> for quite some time. Summary for the lazy: this pool, which Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-49191383780378993452008-09-13T02:10:00.000-04:002008-09-13T02:10:00.000-04:00Best of luck to valued contributor Greyzone, who i...Best of luck to valued contributor Greyzone, who is currently riding out Hurricane Ike near Houston. Our thoughts are with you and your family.Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-30610510479637366082008-09-13T02:06:00.000-04:002008-09-13T02:06:00.000-04:00Thank you Stoneleigh, your comments are always cal...Thank you Stoneleigh, your comments are always calm, well reasoned and insightful.<BR/><BR/>Minor niggle - I would disagree that the line is between training and knowledge, as training is simply learning or teaching of knowledge.<BR/><BR/>The line is between knowledge and wisdom. Mistaking those two is generally what leads to the arrogance and misunderstanding you describe.<BR/><BR/>"The only Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36579019837453378742008-09-13T01:14:00.000-04:002008-09-13T01:14:00.000-04:00We certainly have an active comment thread today!A...We certainly have an active comment thread today!<BR/><BR/>Anonymous critic,<BR/><BR/>I think you'll find that what I said about a lack of downgrades by rating agencies was correct when I wrote it (August 2007). Indeed rating agencies had been major bubble cheerleaders for a long time and only began their raft of downgrades after the writing was on the wall. They even pushed companies like Ambac Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31352259837565046472008-09-12T23:32:00.000-04:002008-09-12T23:32:00.000-04:00Further along with what generic beer said...I don'...Further along with what generic beer said...<BR/><BR/>I don't suppose some of the anonymous have a .mil suffix as part of their addresses?Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81961041967183311322008-09-12T23:29:00.000-04:002008-09-12T23:29:00.000-04:00that's ON the markthat's ON the markrachelhttps://www.blogger.com/profile/15572854888730065806noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77264942202218300102008-09-12T23:25:00.000-04:002008-09-12T23:25:00.000-04:00@generic beer "Paid Trolls". I was just about to s...@generic beer "Paid Trolls". <BR/>I was just about to suggest the same thing. Their m.o. is consistent and fairly easily recognizable; their strategy usually the same "seems to be to simply assert that *you don't know dick!* And then claim authority due to proximity to a very large "database.""<BR/>Ilargi can expect new commentors with names like EconPHD and FDICinsider.<BR/><BR/>I will say, rachelhttps://www.blogger.com/profile/15572854888730065806noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-67696291442177267972008-09-12T23:24:00.000-04:002008-09-12T23:24:00.000-04:00I&S -- Enough already!! Cut Anon's commen...I&S -- Enough already!! Cut Anon's comments out -- everyone of them!! Ban him/her/it immediately and forever!! PLEASE DO IT NOW BEFORE I THROW UP ON MY COMPUTER!!<BR/><BR/>GSJAnonymousnoreply@blogger.com