tag:blogger.com,1999:blog-4921988708619968880.post7987919645399320327..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, October 9 2008: Debts no honest man could payIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger61125tag:blogger.com,1999:blog-4921988708619968880.post-60427799454486612732008-10-11T13:49:00.000-04:002008-10-11T13:49:00.000-04:00George Soros had an interesting piece in the Wall ...George Soros had an interesting piece in the <A HREF="http://online.wsj.com/article/SB122360660328622015.html?mod=googlenews_wsj" REL="nofollow">Wall Street Journal</A> the other day:<BR/><BR/><I>To reconstruct our mortgage system on a sounder basis, we ought to look to the Danish model, which has withstood many tests since it was brought into existence after the great fire of Copenhagen in 1795.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14020514996545247432008-10-10T15:55:00.000-04:002008-10-10T15:55:00.000-04:00A Thanks for the comments - it's hard to get a...A <BR/>Thanks for the comments - it's hard to get a conversation going in the middle of one of the worst shitstorms in history!<BR/><BR/>You say 'as Stoneleigh has repeatedly said, times such as this are great opportunities for power grabs'<BR/>Absolutely true. 9/11 being of course one of the worst and most obvious. Who knows what will come out of this. This type of thing is what Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72398659591165237862008-10-10T15:41:00.000-04:002008-10-10T15:41:00.000-04:00kjmclarkfrom wikipedia:"Irrational exuberance" is ...kjmclark<BR/><BR/>from wikipedia:<BR/>"Irrational exuberance" is a phrase used by former Federal Reserve Board Chairman Alan Greenspan in a speech given at the American Enterprise Institute during the stock market boom of the 1990s. .....<BR/>The presence of the short comment—not repeated by Greenspan since—within a rather dry and complex speech would not normally have been so memorable; however,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19146599984941186942008-10-10T14:46:00.000-04:002008-10-10T14:46:00.000-04:00Mr MotoI agree with your analysis, too, at the sam...Mr Moto<BR/>I agree with your analysis, too, at the same time trying hard to pay attention to what is going on, because, as Stoneleigh has repeatedly said, times such as this are great opportunities for power grabs. Another point is that most developed nations bought into the same faulty economic practices. The recent bailout package proposed by Paulson really raised the alarm bells for me. AtAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-90576784363039300362008-10-10T12:18:00.000-04:002008-10-10T12:18:00.000-04:00Krugman quotes Jansen in Faustian Bargains:Is this...Krugman quotes Jansen in <A HREF="http://krugman.blogs.nytimes.com/2008/10/10/faustian-bargains/" REL="nofollow">Faustian Bargains</A>:<BR/><BR/><I>Is this the beginning of the end for the dollar and the Treasury market? Is this the first sign of the bursting of the bubble in Treasury securities? That market, in a sense, represents the ultimate bubble as it exists at the whim and caprice of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-70827707091842535402008-10-10T12:03:00.000-04:002008-10-10T12:03:00.000-04:00Robert Schiller warned Greenspan and anyone who wo...Robert Schiller warned Greenspan and anyone who would listen about both the stock bubble and the housing bubble. ("Irrational Exuberance" was Schiller's phrase.) Ned Gramlich also did his best to get the Fed to change course about the housing bubble. Prof. Gramlich also kept pointing out that we were not preparing adequately for the retirement of the baby boomers. <BR/><BR/>Ilargi, I would kjmclarkhttps://www.blogger.com/profile/00490417628052004621noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-25161733417326266892008-10-10T11:54:00.000-04:002008-10-10T11:54:00.000-04:00Well, I guess it's better than nothing. Iceland ju...Well, I guess it's better than nothing. Iceland just put itself up for auction on Ebay.<BR/><BR/><A HREF="http://cgi.ebay.co.uk/Country-for-sale-ICELAND-99p-start-price-no-reserve_W0QQitemZ320308801162QQcmdZViewItem?hash=item320308801162&_trkparms=72%3A1298%7C39%3A1%7C66%3A2%7C65%3A12%7C240%3A1318&_trksid=p3286.c0.m14" REL="nofollow">link</A><BR/><BR/>I can't decide if current offer is overvaluedAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-73269738155259915612008-10-10T11:50:00.000-04:002008-10-10T11:50:00.000-04:00You don't mean that: 'they have gone to war and it...<I>You don't mean that: 'they have gone to war and it hasn't worked'?</I><BR/><BR/>It has worked like a charm, all goals have been achieved. You just need to understand what those goals were. They never intended a quick victory, they wanted a huge force to stay indefinitely, and the only way to get there was to create complete mayhem. Check.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77681181411135280912008-10-10T11:42:00.000-04:002008-10-10T11:42:00.000-04:00The primer I wrote at TOD a year ago, with a new c...The primer I wrote at TOD a year ago, with a new comment thread for today's reprint, can be found <A HREF="http://www.theoildrum.com/node/4629" REL="nofollow">here</A>. I've been explaining how financial crisis will affect energy.Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58773364112249682592008-10-10T11:38:00.000-04:002008-10-10T11:38:00.000-04:00Sorry Blue bired Nuclear war is still not on in my...Sorry Blue bired Nuclear war is still not on in my opinion. If it were a factor then the bombing of Iraq with conventional wwepons would have produced better results. I would think using food as a bargaining chip for the US to use in fighting a proxy war would be more likely . But who knows what crazy stuff goes on under the label of clear thinking in the Pentagon. The mad men are running this Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-18187493078597821682008-10-10T11:32:00.000-04:002008-10-10T11:32:00.000-04:00@CrystalRadio - perhaps war is nuclear? If so, I ...@CrystalRadio - perhaps war is nuclear? If so, I hope I am already dead.bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-17905090199258232882008-10-10T11:16:00.000-04:002008-10-10T11:16:00.000-04:00Guardian business blogs"The secret that, understan...<A HREF="http://www.guardian.co.uk/business/blog/2008/oct/10/creditcrunch-marketturmoil" REL="nofollow">Guardian business blogs</A><BR/><BR/>"The secret that, understandably, none of the experts wants to admit to is that the heart of today's problems is human behaviour, not impersonal flows of money."The Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19778759180127042372008-10-10T10:56:00.000-04:002008-10-10T10:56:00.000-04:00ilargi said:The demise of oil was always guarantee...ilargi said:<BR/><BR/><I><BR/>The demise of oil was always guaranteed to be the demise of the US. They decided to approach it this way: 300 million debt slaves. They are going to go to war.</I><BR/><BR/>You don't mean that: 'they have gone to war and it hasn't worked'?<BR/><BR/>To go any further in a war for oil, to my way of looking at that, would mean a draft and that land war in Asia. PossibleAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66729267612963772732008-10-10T10:49:00.000-04:002008-10-10T10:49:00.000-04:00Hello Stoneleigh,Nate Hagens just put your primer ...Hello Stoneleigh,<BR/><BR/>Nate Hagens just put your primer up on TOD (reprint).<BR/><BR/>With a very flattering introduction, no less.<BR/><BR/>I wonder what the old gander thinks of that?<BR/><BR/>Ciao,<BR/>FrançoisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-26723102675067297912008-10-10T10:24:00.000-04:002008-10-10T10:24:00.000-04:00I did a book search in Google books for the phrase...I did a book search in Google books for the phrase <A HREF="http://books.google.com/books?q=%22receding+horizon%22+oil&btnG=Search+Books" REL="nofollow">"receding horizon" oil</A> and got 162 hits/books. The earliest books I could find were printed in the 1970's<BR/><BR/>The first one was from a book printed in 1979 "projections of future oil shortages are like a receding horizon: no matter how Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31766920140092966592008-10-10T09:50:00.001-04:002008-10-10T09:50:00.001-04:00Back to basics, beans, potatoes, rice... I just pl...Back to basics, beans, potatoes, rice... <BR/><BR/>I just planted a clover/vetch cover crop for our garden for next year. I wish I had planted a bigger garden this last season!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-38083817382874592822008-10-10T09:50:00.000-04:002008-10-10T09:50:00.000-04:00I don't think it is possible for a centralized bur...<I>I don't think it is possible for a centralized bureau to plan every detail of history decades in advance. </I><BR/><BR/>I think it's a mistake to talk about planning details, there is no need for that. I see this as simply pushing a boulder off a cliff.<BR/><BR/>Gravity will take care of all the rest of the work.<BR/><BR/>If both the president and the Fed head go public pushing home-ownership,Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39762456713322968462008-10-10T09:19:00.000-04:002008-10-10T09:19:00.000-04:00Hi Greg, under consumption has problems of it's ow...Hi Greg, under consumption has problems of it's own. Maybe the worry is keeping the transport system etc. running and that depends on a lot of small business people. If I were in a place dependant on one lonely trucker who can't pay for his fuel I would be stocking up on a few cans of Sardines and a sack of rice. You know proletariat consumption, no champagne and caviar I'm afraid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-11553232069381338222008-10-10T08:42:00.000-04:002008-10-10T08:42:00.000-04:00"Consumers have cut back sharply on spending, in w..."Consumers have cut back sharply on spending, in what will be the first quarterly decline in 17 years when the government tally is in for the third quarter."<BR/><BR/>"To offset this shrinkage, the Democratic leadership in Congress is "seriously considering" a large fiscal stimulus proposal, which would send a significant amount of money to states and cities.<B> "We have to prop up consumption,"<Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-41274418220515756142008-10-10T08:29:00.000-04:002008-10-10T08:29:00.000-04:00You know Ilargi, I was inclined to dismiss your "c...You know Ilargi, I was inclined to dismiss your "conspiracy theory" at first. I don't think it is possible for a centralized bureau to plan every detail of history decades in advance. <BR/><BR/>But then if I put myself into a meeting of the Bilderbergers along about 1987, I can only imagine the assortment of bad outcomes that were discussed. I mean, you had the Club of Rome with a book greeted byJim Rhttps://www.blogger.com/profile/17419179432204743768noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34386620039545681672008-10-10T08:27:00.000-04:002008-10-10T08:27:00.000-04:00Hello All,Excellent comments today. Have deadlines...Hello All,<BR/><BR/>Excellent comments today. Have deadlines to meet, but will comment myself as soon as possible.<BR/><BR/>Team10tim (Tim?), was fascinated by your analysis of Ireland. For months, I have been thinking about the strong and weak points of my country (France) and, all false pride aside, I think there actually are some strong points.<BR/><BR/>This thought process was started many Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-90305159994053516482008-10-10T07:39:00.000-04:002008-10-10T07:39:00.000-04:00Just mulling over the comment from Anon that Green...Just mulling over the comment from Anon that Greenspan has been out of office for awhile. He prepared his acolyte( Bernacke) well to continue his work. Out of office does not mean out of influence. In fact out of office gives cover to covert influence. I have sure been wondering what Rumsfeld and Cheney have been up to in the shadows.<BR/>In the meantime we need to be taking care of our own scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77176349690701171012008-10-10T05:24:00.000-04:002008-10-10T05:24:00.000-04:00Behind the Panic:Financial Warfare over Future of ...<A HREF="http://www.engdahl.oilgeopolitics.net/Financial_Tsunami/Warfare_Behind_Panic/warfare_behind_panic.html" REL="nofollow">Behind the Panic:<BR/>Financial Warfare over Future of Global Bank Power</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-62505706082777634302008-10-10T02:48:00.000-04:002008-10-10T02:48:00.000-04:00Nice Post. Thanks for sharing this information wit...Nice Post. Thanks for sharing this information with us.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-33612409111961899872008-10-10T02:05:00.000-04:002008-10-10T02:05:00.000-04:00Sorry drchaos, I left two things out. Your count...Sorry drchaos,<BR/><BR/> I left two things out. Your country is heavily dependent on fertilizer, particularly phosphorus, for which I recommend organic farming. And Ireland needs to reforest, the forests of your country have been decimated and need to restored for long term heath.<BR/><BR/> <A HREF="http://www.amazon.com/Reinventing-Collapse-Example-American-Prospects/dp/0865716064" REL="team10timhttps://www.blogger.com/profile/12100467801841348435noreply@blogger.com