Bernanke Inserts Gun In Mouth

Market Ticker ^ | 03/19/09 | Karl Denninger

[TigerLikesRooster]

Ping!

[scooby321]

Gold up 60.00 in pre market opening.

[Mad Dawgg]

"Gold up 60.00 in pre market opening.

DOW Drop 500 pts or will it not sink in and we just roll merrily along?

[ClearCase_guy]

If I move to PA, will the Amish take me in?

[Tarpon]

You can’t buy your own debt.

[RedStateRocker]

You are trying to tell that to an entire generation that thinks they can use their Master Card to pay off their Visa bill:-).

[OB1kNOb]

If I move to PA, will the Amish take me in?

More than likely, yes. My brother asked a family in Iowa about working on their farm to learn their self sufficient ways and they were willing to allow him to stay with them as long as he pulled his weight and did his share of work.

[throwback]

Exactly. Ben to Tim: "I'll trade you my toilet paper for yours?"

Tim to Ben: "Sure. Whatever. Paper's paper."

[OB1kNOb]

That Denninger has such a way with words. Ya gotta laugh and cry at the same time.

[Centurion2000]

Depends on what the smart money is reading. But this has been coming for a while.

Someone here said this is stage two of Obama's plan to demolish wealth. Drop the stock market and force investors into treasuries was step 1.

[Zeddicus]

Seriously folks, follow the link and read Karl’s full entry here.

Who here is prepared and has liquid cash reserves on hand to be able to be independently self-sufficient for 12 to 24 months?

I’ve got 3 acres of land that I can do stuff with, but I still have a mortgage to pay and I certainly am not prepared to “go to ground” for two years.

[PGalt]

...it is a circle-jerk from The Fed and Treasury?

Ya think? I just saved a bunch of money on my con game by switching to Geithner. /commercial $ociali$t sarcasm

Very good article. Thanks for posting.

[Need4Truth]

If we find ourselves unable to sell debt to actual investors with actual money, and are circle-jerking ourselves; to balance this budget we would need to contact [sic (contract?)] spending to roughly $1.0-1.5 trillion in total.

It's becoming more and more clear that the Obama/democrat porkulus and earmark-ridden ominous spending laws were major mistakes.

[dennisw]

More alarming than gold is the USD sinking more against the EURO this morning

[dennisw]

Denninger has my vote for the most articulate Dr Doom right now

[dennisw]

Doom and gloom ping list. Economics and geo-political economics. 
Freep-mail me if you want on/off
Free Republic Keyword= doomgloom

[Betis70]

>>Who here is prepared and has liquid cash reserves on hand to be able to be independently self-sufficient for 12 to 24 months?

I read through most of the posting. I’m spending money on things I can use now (like gardening equipment) before my money is worthless.

[sniper63]

Exactly.

Ben to Tim: "I'll trade you my used only once toilet paper for yours?"

Tim to Ben: "Sure. Whatever, it's still got one good side. Paper's paper."

seems more PC

[blam]

"Who here is prepared and has liquid cash reserves on hand to be able to be independently self-sufficient for 12 to 24 months?"

He goes on to say:

"That's a minimum; if you can in fact have enough available to be able to execute a "bug out" plan where you are able to become effectively self-sufficient on short notice (a couple of months maximum) if necessary, that's even better. Yes, we're talking chickens, goats, enough arable land to grow what you need to survive (bartering for what you don't have with what you do) and the means to defend it. If you live in a big city consider carefully what you intend to do if unemployment goes north of 20% and the city effectively goes feral - if you're interested in "how bad can it get" go drive through major parts of Detroit - bring an armored vehicle for your tour and/or at least semi-automatic weapons.