Posted on 02/14/2009 8:14:10 AM PST by NRG1973
In a freewheeling discussion about The Great Recession and energy, top economists painted dark scenarios that could be ranked as bad, worse and horrendous.
2009 is basically a write-off, Harvard University economics professor Kenneth Rogoff told a packed audience at CERAWeek, the annual Houston conference that has come to be known as the Davos of the energy world. The other economists agreed.
The good news: All economic crises end, he said.
The bad news: Rogoffs forecast was the most optimistic .
Nouriel Roubini, an economist with New York Universitys Stern School of Business, predicted an L-shaped stagnation similar to what Japan suffered in the 1990s when that country lost a decade of economic growth.
Roubini offered a caveat, though when the financial crisis hit Japan it was a nation of savers with a current-account surplus. The U.S. has neither of those advantages.
(Excerpt) Read more at chron.com ...
I think ammo will prove to be a good investment.
I made a 'life-time buy' of 7.62 X 39 during the Rodney King riots.
I read somewhere that this administration intends to increase taxes on ammo by 400%.
Prepare now.
Q. What’s the difference between an economist and a befuddled old man with Alzheimer’s?
A. The economist is the one with the calculator.
Q:Why did God create economists ?
A:In order to make weather forecasters look good.
The First Law of Economists: For every economist, there exists an equal and opposite economist.
The Second Law of Economists: They’re both wrong.
He has a large landscaping business and has many resources...like 2,000 gallons of diesel on hand for his equipment all the time. (etc)
He also bought a $400.00 pressure canner and 20 cases of canning jars. So...
I'm glad he's my neighbor.
If you guess and say it'll go bad...and it doesn't....your soon forgotten...if you guess and say it will go bad, and it does, you're a genius!
It's a simple coin flip.....that's all.
The Roman Empire also died partly because of massive infiltration by alien ethnic groups with no allegiance to Roman culture, and abandonment of early Roman republican virtue in favor of bread and circuses. Sound familiar?
infiltration by alien ethnic groups works every time.
It ended with “change” (feudalism) and “hope” (Church primacy).
History is cyclic. We’re in no way immune.
“I think ammo will prove to be a good investment.”
....in our area(NC)ammo was moving briskly in 1000 round case lots...popularity ranking was:
1) .223 for M-16 platform rifles
2) 7.62x39 for the AK-47 enthusiasts
3) 9mm for the semi-auto pistol crowd
4) .45 for the Colt model 911 platform folks
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