The Greatest Depression Is Coming

Financial Sense ^ | 11 Mar 2003 | John Finger

[headsonpikes]

Don't worry; be happy.

Prosperity is just around the corner.

;^)

[american spirit]

I don't worry because I've seen this coming for a long time and have prepared...I'm just worried about all the dimbulbs(homegrown and imported) that don't have a clue, can't wipe their butts w/o gov't assistance and will be more than willing to "trade their freedom for security".

[headsonpikes]

I'm with you. ;^)

[Dec31,1999]

ping.

[Always Right]

Where's my Great Depression, darn it!

[<1/1,000,000th%]

I was feeling a little depressed a couple weeks ago, but I'm fine now.

[Always Right]

Looks like most are still in denial so I guess we have a long way to go yet. Richard W.

Where's this 'Greatest Depression' you promised????

[arete]

Where's this 'Greatest Depression' you promised????

I don't believe that I promised anything but I still firmly believe that when all the bubbles busrt, we're in for some very hard times. Time is running out though.

Richard W.

[MeneMeneTekelUpharsin]

May be true. However, Mirant (MIRKQ) which is going through bankruptcy merely due to debt maturities was up 23%+ today. Why?

[Our man in washington]

The great depression will be terrible.

It will be coming soon.

Fortunately, it will affect only certain parts of the country.

Specifically, it will range from one of Tom Daschle's ears to the other when the Dow passes 10,000 again.

[dighton]

Doom will be here any minute now.

(Article posted 3/11/03)

[DCPatriot]

You mean to say you actually *read* it all?

[HardStarboard]

Bloody, your comparing microeconomic advice with a macroeconomic chart. Or...apples and oranges.

[Ohioan]

I don't believe that I promised anything but I still firmly believe that when all the bubbles busrt, we're in for some very hard times. Time is running out though.

I think that you are running into skepticism because of the need to hope for the best, and the wish to believe the "feel good" selective statistics being offered to pander to such needs.

Unfortunately, the Keynesian remedies being employed in America today are simply not understood--not even by some of those employing them. The "remedies" are not a remedy--and were never really understood by the depraved Fabian Socialist who enunciated them in the early days of the 20th Century to actually be a remedy. They were intended more as a device to reduce real wages by deception--deception being ever the prime resource of the Fabians--than for any other purpose.

The other unfortunate ingredient in the present stew is this: Those built in protections since the New Deal are simply not protections at all. They, like the Fabian remedy, are illusory, not real. If the Federal Government has to meet the built in entitlements in a real crash, it will have to resort to the printing presses to an extent which could make a German 1922 sequence possible. That is hardly something to be reassured about.

William Flax Return Of The Gods Web Site

[The KG9 Kid]

Not flaming you here, but I have noticed a few things about your 'Market Wrapup' threads -- one of which that I believe that I mentioned to you before:

1. You gentlemen never seem to post the 'Market Wrapup' threads on days when the DJIA/NASDAQ trends upwards at a healthy rate. When the market dips 100+ points however, you folks are first at the dinner table with your supposed 'daily' thread. I find this odd.

2. The headshot photographs of all the financial experts from Financial Sense that you fellows use for your 'Market Wrapup' threads all look like hobos, cab drivers, Serbian militia leaders, or disturbed loners who look like they get their sexual gratification from strangling small mammals. Financial advisors like this make me uneasy.

3. We're nearing the one-year anniversary of your 'The Great Depression of 2003 is right around the corner' threads that were so frequently seen in the winter of last year. Since that time, my meager stocks have made five digits in profit through taking a strategy precisely the opposite of your investors' advice. I don't even pretend to know anything about the stock market, either. Would you say that I have beginner's luck, or would it be fair to say that your strategy isn't even as good as a thoroughly random selection?

[BluH2o]

Feel free to buy all the gold you want. It's your money to waste.

Precious metals, such as gold and platinum are solid investments if you buy in at the right time. Part of any solid portfolio should be gold or platinum coins, or bullion, kept in a quality safe at home ... or bank safety deposit box.

[Poohbah]

The headshot photographs of all the financial experts from Financial Sense that you fellows use for your 'Market Wrapup' threads all look like hobos, cab drivers, Serbian militia leaders, or disturbed loners who look like they get their sexual gratification from strangling small mammals. Financial advisors like this make me uneasy.

Nice to know I'm not alone in that.

[Elliott Jackalope]

The gold I bought early this year for $315 is now worth $403. Not too shabby for a "gloom and doomer". BTW, what is the P/E of the NASDAQ 100? About 200 to 1? Oh yes, that's a quality investment! Such a value play!

Step right up, hurry, hurry, buy your NASDAQ stocks for a bargain price of only 200 dollars for every one dollar of earnings! Hurry, hurry, you won't get a chance to buy in at these prices again! Step right up, ladies and gentlemen, for the investment chance of a lifetime! Hurry, hurry, it's going fast!

[SeeRushToldU_So]

Do you feel silly yet?

[arete]

Let's see if I can address your concerns.

1. You gentlemen never seem to post the 'Market Wrapup' threads on days when the DJIA/NASDAQ trends upwards at a healthy rate. When the market dips 100+ points however, you folks are first at the dinner table with your supposed 'daily' thread. I find this odd.

Well, I personally post the Market WrapUp thread every single day regardless of what the market does. There have been two recent exceptions. The first was for the California fires when the market WrapUp wasn't published because it is based in San Diego, and the other was when I was out of town for the Thanksgiving holiday. Otherwise, I post it every evening that it is available.

2. The headshot photographs of all the financial experts from Financial Sense that you fellows use for your 'Market Wrapup' threads all look like hobos, cab drivers, Serbian militia leaders, or disturbed loners who look like they get their sexual gratification from strangling small mammals. Financial advisors like this make me uneasy.

Well, you may have a point.

3. We're nearing the one-year anniversary of your 'The Great Depression of 2003 is right around the corner' threads that were so frequently seen in the winter of last year. Since that time, my meager stocks have made five digits in profit through taking a strategy precisely the opposite of your investors' advice. I don't even pretend to know anything about the stock market, either. Would you say that I have beginner's luck, or would it be fair to say that your strategy isn't even as good as a thoroughly random selection?

Puplava has been consistently recommending commodities and gold and silver. They have had outstanding gains -- better than the stock market averages. Puplava has remained cautious on traditional stocks and paper assets in general and he has made his case clear and often. If you are having beginners luck, then it truly is luck -- which ought to tell you something.

Richard W.