Apocalypse This Way Comes -- Economic Commentary by Nelson Hultberg

Financial Sense Online ^ | 9/2/03 | Nelson Hultberg

[Tauzero]

"What was left out is what should an individual do if this is going to happen."

Live righteously. Arm yourself or stay armed. Pray.

About what you should do anyway. ;)

[Tauzero]

"(What do you mean I'm overdrawn? I still have checks!)"

That check was NOT bad! It was perfectly legible.

[Tauzero]

"and now you tell me there's a bad moon risin'?

I give up."

No no no.

Boff the cute English nurse, first.

[Orangedog]

As if the failed war on drugs wasn't bad enough. It has resulted in a quasi-police state and more drug trafficking than when it started. 90% of the people have no idea how much the drug war has effected their lives.

Try conduction any business transaction or bank deposit close to $10,000 in cash and the IRS is notified so you can be investigated for suspicion of laundering drug money. If you have even much less than that amount on you in public and if the police pull you over and searches you, they can and often do confiscate it. Then you have to go to court and prove that it wasn't drug money.

The drug war has given police the ability to serve a search warrant by having a ski-mask wearing SWAT team with fully automatic weapons smash through your front door with a battering ram, screaming "Police, search warrant!" When the cops make a mistake and do this at the wrong house, you would be lucky to even get an apology. Repairing the damage to house and it's contents is the home-owners responsibility. Taking them to court for the damages often cost more than the repairs.

Now the feds want the power to classify drug dealers as terrorists. The drug warriors had better stop and think about how long it would take a president Hillary Clinton, Clark, or Dean to classify gun owners as terrorists.

[St.Chuck]

Bump for later

[djf]

That one slapped me upside the head too. Brilliant quote.

[chilepepper]

BTTT

[UnBlinkingEye]

(cocking sound)

*BLAM*

thud.

Oh, my God, you shot the HR rep.

[Bernard Marx]

Bump for when I'm awake.

[Mad Dawgg]

"And I so wanted to live."

You mean..., we're all gonna die?!?!?!

Again?!?!?!

[jwh_Denver]

How original! Another Kondy wave junkie...ohhhhhhhhh

Haha! I know what you mean, just like the E-wave people: if it does this then is a C wave but if it does this then a 4.

But I will say this, pick the top 3 HUI miners and short them and I'll talk to you in a year. Don't mind those margin calls, you're headed for Big Bucks by your snake oil salesmen.

[grania]

how long it would take a president Hillary Clinton, Clark, or Dean to classify gun owners as terrorists.

It would probably take them more time than it would take GWB. Look at the "Patriot Act", for example. The Republicans we elected to guard our rights let that one by, next to no questions asked. If one of those three was to be president, it would energize the Republicans in congress to fight the assaults on our freedom.

[razorback-bert]

Nobel prize in economics for pointing out the differences between Homo sapiens and H. economicus. Real people tend to judge their well-being relative to others, not in absolute terms

How true this is, in the USA a family of four with $13,000 of income is in poverty, while in Africa a family of eight live on an income of $2000 or less.

[razorback-bert]

Screw the bulls, bears and gold bugs, this is about inflation. The real killer of wealth.

These figures are from Nationwide Investment Service:

In 1968 .................. 2000

dozen eggs........$0.33-----$0.96
pound of hambuger.$$0.56----$1.63
loaf of bread.....$0.22-----$1.36
new car...........$2,912----$20,356
gallon of gas.....$0.33-----$1.56
New home..........$19,039---$182,100

[habs4ever]

Compare it to real national wealth and asset values, and productivity.You can find those figures at the St Louis Fed, and the NY Fed.

Look at both sides of the balance sheet before you make up your mind.

[headsonpikes]

"...this is about inflation."

I believe the theory is that just as the American economy has absorbed a 90+% depreciation of the dollar over the last 50 years, people are willing to accept a further 90+% depreciation over the next 50 years.

And then a further 90+%, and so on.

Interesting theory - it's never worked out that way in the past, there has always been a sudden precipitating event when 'the music stopped'.

Maybe it's different this time.

[razorback-bert]

Well, since you think inflation is a good thing, you should be happy with current FED policy.

[Pietro]

".. monetary policy brings about creates prodigious amounts of debt that eventually overwhelm society."

I'm no economist but, when I recently refinanced my home I eliminated 100K of debt (we were also able to pay off our credit cards). As a result I have alot better liquidity than I did at this time last year.

Please explain how this is a bad thing. Also if millions of Americans have done what we did wouldn't the overall debt load in the US economy have been substantially reduced thereby blowing this argument into pieces?

[arete]

I'm no economist but, when I recently refinanced my home I eliminated 100K of debt (we were also able to pay off our credit cards). As a result I have alot better liquidity than I did at this time last year.

You will have to explain how your refi eliminated 100K of debt. Debt just doesn't disappear.

Richard W.

[BlazingArizona]

I smell another Lugnut Rockwell article.

Buy handbaskets! Now!