Posted on 11/21/2008 1:52:42 PM PST by 2ndDivisionVet
I strongly disagree my FRiend. It is my opinion that we are quickly descending into a deflationary depression that will rival 1929.
Stocks jumped from oversold status on triple-witching day. Obama timed the announcement to piggy-back on the phenomenon.
That could still happen. But Obama's choice of Geithner today (instead of Volker the inflation hawk for example) means they will try to inflate our way out of it. It will be an interesting battle.
The Do Nothing Caesar must be desperate to do something. Also hiring a lot of Clinton Book Cookers. Looks like the MSM will be talking about Caesars great economic recovery, while the Obamabots are standing in line to get soup. The rest of us will be bartering and trading assets.
To Paulsen: Mission accomplished. You did your job. Like a good Democrat, you got Obama elected.
May be why gold popped today and the HUI index registered it's biggest gain on record.
It definitely will be an interesting year ahead of us.
The market rally had precisely zero to do with this guy getting nominated for sectreas. It has a lot more to do with options expiring than anything. Look for todays gains to evaporate on Monday or Tuesday and for the long downward march to continue.
“It is my opinion that we are quickly descending into a deflationary depression that will rival 1929
That could still happen. But Obama’s choice of Geithner today (instead of Volker the inflation hawk for example) means they will try to inflate our way out of it. It will be an interesting battle.”
The two scenarios aren’t mutually exclusive. I expect deflation followed by inflation as the “fixers” dramatically overshoot the mark in inflating the money supply.
Todays “rally” is more like a wasp fart.
And it’s quite an accomplishment to be worse than Paul O’Neill.
Wow, the country really is run by just the New York Fed and Goldman Sachs. Why bother to vote?
Yeah, well that’s the $64 Trillion question. Inflation vs. Deflation. I’ve been struggling with it for 6 months and I still haven’t a clue.
We have some very bright, knowledgeable people in the world who are both adamantly claiming that either we are heading for a massive deflationary depression or something approaching hyperinflation.
I’ve been waiting for these two battle lines to begin to form consensus but they are further apart than ever. Both sides concede that the government will attempt to inflate. The only difference in their beliefs is that the deflation camp believes the attempt at inflation will be futile.
I’m stumped, caught dead in the middle, and have no clue who is right. I guess I should buy gold with half my money and put the other half in my mattress...
Among the deflation camp = Nouriel Roubini, Mike Shedlock, John Mauldin, Paul Kasriel, Lee Adler, Richard Russell, Robert Shiller.
Among the Inflation camp = Eric Janzsen, Peter Schiff, Gary North, Doug Noland.
Lots of great brains and they can’t agree. Good luck on this one as I am plainly stumped where this goes. I’m calling this “unknowable.”
any concrete advice for the lost out here about what to do in prep for this depression?
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