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Egon von Greyerz: "A Hyperinflationary Deluge Is Imminent", And Why, Therefore, Bernanke's Motto Is "Après Nous Le Déluge"

Tyler Durden's picture




 

From Egon von Greyerz of Matterhorn Asset Management

Apres Nous, Le Deluge

Happy days are here again! Stock markets
are strong, company profits are up, bankers are making record profits
and bonuses, unemployment is declining, and inflation is non-existent.
Obama and Bernanke are the dream team making the US into the Superpower
it once was.

Yes, it is amazing
the castles in the air that can be built with paper money and deceitful
manipulation of all economic data.  And Madame Bernanke de Pompadour
will do anything to keep King Louis XV Obama happy, including flooding
markets with unlimited amounts of printed money. They both know that, in
their holy alliance, they are committing a cardinal sin. But clinging
to power is more important than the good of the country.  An economic
and social disaster is imminent for the US and a major part of the world
and Bernanke de Pompadour and Louis XV Obama are praying that it won’t
happen during their reign: “Après nous le déluge”. (Warm thanks to my
good friend the artist Leo Lein).

Moral and financial decadence

A deluge of an unprecedented magnitude
is both inevitable and imminent. The consequences of the economic and
political mismanagement will have a devastating impact on the world for a
very long time. And the consequences will touch most corners of the
world in so many different areas; economic, financial, social, political
and geopolitical. The adjustment that the world will undergo in the
next decade or longer, will be of such colossal magnitude that life will
be very different for coming generations compared to the current
social, financial and moral decadence. But history always gives us
lessons and the one that is coming will be necessary and eventually good
for the world. But the transition and adjustment will be extremely
traumatic for most of us.

We have reached a degree of decadence
that in many aspects equals what happened in the Roman Empire before its
fall.  The family is no longer the kernel of society. More than 50% of
children in the Western world grow up in a one parent home, either being
born by a single mother or with divorced parents. Children are neither
taught ethical or moral values nor discipline. Many children consider
attending school as optional and education standards are declining
precipitously.  Most families do not have a meal around the dinner table
even once a week. Sex and violence are common place on television and
in real life. Both press and television create totally false values and
ideals. Everyone must be young and beautiful often enhanced by surgical
or digital means. Old people have little value and their wisdom is not
benefitting the younger generations.

The Golden Calf or materialism is the
ultimate value that is worshipped and no means are eschewed to attain
material goals. Since most of the prosperity that has been achieved in
the last 40 years is based on printed money and debt, it is totally
false and unsustainable. A major part of the Western world has improved
their living standard, by exchanging services and swapping houses at
ever rising prices financed by printed paper and credit. The perceived
wealth that is created out of this is illusory and ephemeral. We have created a world economy which is based on debt and thin air.


The Gini coefficient of income and wealth
is now reaching extremes in many countries. This measures the
inequality between the rich and the poor. In the US the Gini coefficient
is now at the same level as in the 1920s before the depression. In
countries like the US, the rich are getting richer whilst 45 million
people live below the poverty line, 43 million receive food stamps and
over 700,000 are homeless. With a real unemployment rate of 22% and
urban youth unemployment much higher, the US will soon experience social
unrest.

But it is not only the US that will
experience financial misery, famine and social unrest. This will also
hit most European countries and in particular the UK, southern Europe,
Eastern Europe and the Baltic States as well as African countries, the
Middle East, Asia, yes in fact the whole world.

Are boom and busts inevitable?

Well if you listened to the former
British Labour Prime Minster Gordon Brown, he proudly declared that he
had abolished booms and busts and thus economic cycles. But he was
expeditiously thrown out at the next bust which of course had nothing to
do with him since he blamed the US sub-prime market for his ill-fated
destiny.

Cycles or ebbs and flows are a natural
part of both economic life and nature. And right at the point when
something could be done to limit the damage, most nations seem to have
the uncanny knack of selecting the political individuals who will put
fuel on the fire and make the situation catastrophically worse.

Greenspan was one such individual.
During his 19 years as Chairman of the Fed, he could have limited the
economic and social damage that the US would suffer. Instead he took
every single measure possible to ensure that there would be a
catastrophe with uncontrollable consequences. But we shouldn’t just
blame the incompetence of Greenspan. It was sickening to watch every
sycophantic congressman and senator licking Greenspan’s boots and
praising his wisdom. Because Greenspan’s money printing and incompetent
interest rate management created one of the biggest financial bubbles in
world economic history. But the politicians loved this. It made the
stock market boom, and house prices surge. Thus the politicians were all
loved by their voters who did not understand the dire consequences that
were looming. And Bernanke de Pompadour is continuing the same
disastrous policies of creating money out of thin air. When will they
ever learn that creating money out of thin air and running astronomical
deficits that never will be repaid with normal money leads to the road
of total ruin? When will they ever learn? The very sad
answer is that they won’t and therefore they are leading the world into a
hyperinflationary depression that will have uncontrollable and
cataclysmic consequences for current and future generations.

Empty stomachs are rioting

We have for years warned about
hyperinflation leading to famine, misery and social unrest. Well, this
is exactly what is happening in many parts of the world. The protests
and overthrowing of regimes in Tunisia, Egypt and Libya are primarily
due to a major part of the peoples of these nations having no job, no
money and little food. It is their empty stomachs that are rioting. In
addition they are protesting against the leaders of these countries
stealing from the people.

It is virtually certain that these riots
will spread to many countries in the Middle East, Africa and the
developing world. This will lead to new regimes and new political orders
that could either be far left or far right politically or religious
extremists. But the new regimes will not be in a position to change the
root of the problem which is famine and poverty.  In Egypt for example
there has been a quiet military coup. It is unlikely that a democratic
regime will take over from the military. So the people will protest
again and again. And this will be the same in most countries. Eventually
the people will take the law into their own hands since no regime will
be able to give them the food that they need.

 

The hyperinflationary deluge is imminent

Although food and fuel inflation is
rampant worldwide already, we are only seeing the very beginning.
Massive oil price rises are likely to continue as a result of the
geopolitical situation as well as peak-oil. The Middle East is a time
bomb waiting to go off. Israel is in an extremely precarious position
and the involvement or non-involvement of the US in this conflict would
both have dire consequences for Israel and peace in the world. Food
prices will continue to rise dramatically. Major parts of the world are
living below the poverty line today and this will increase
exponentially.

The lethal concoction of rising food and
fuel prices is already affecting the Western world. The Continuous
Commodity Index – CCI, (60% food, 17% energy and 23% metals) has almost
doubled since the low in early 2009 and has gone up 42% in the last 12
months. The almost vertical rise of the CCI is one of the best
indicators of hyperinflation being imminent. A catastrophe of
astronomical proportions is looming. This will hit the world at a time
when there is no capacity whatsoever to take any real measures that
could alleviate the problems.

(Click image to enlarge)

Most
countries are already running major deficits which will increase
dramatically in the next few years. The banking system is bankrupt and
is only holding together due to false valuations of toxic debt and
derivatives. This is done with the blessing of governments since
virtually no major bank could face an honest valuation of its assets.
Unemployment and especially youth unemployment is currently a problem
worldwide and it will get much worse. In 2010, the US government spent
60% more than its revenues. In order to balance the budget individual
and corporate income taxes would have to double.

Never before in history has the world run out of real money as well as (affordable) food and fuel simultaneously. But his is exactly what is happening now and it will get substantially worse in the next few months and years.

Financial misery, famine and high
unemployment combined with governments that will not be in a position to
give real help are a recipe for disaster that will lead to social
unrest and revolutions not only in developing countries but also in the
West. Hungry people are desperate people and desperate people do
desperate deeds. We could see already in 2011 food shortages, and riots
both in Europe and in the US.

Hyperinflation Watch

The following are INDISPUTALBLE FACTS:

  • The US dollar is down 82% against gold since 1999
  • The US dollar is down 49% against the Swiss Francs since 2001
  • The Dow Jones is down 81% against gold since 1999
  • The Continuous Commodity Index is up 100% since 2009

The above facts are clear evidence of an
economy that has been totally mismanaged. But more importantly most of
these trends are now starting to accelerate – a clear sign that
hyperinflation is just around the corner.

With
years of negative net worth and negative cash flow, the US is bankrupt
today. The Federal deficit is forecast to increase by at least another $
5 trillion in the next 5-7 years.  Add to this the State deficits, the
Municipal and City deficits that are rising at a galloping rate and we
have a country that is going to haemorrhage to death in the next few
years. One wonders when the totally ineffective and clueless rating
agencies are going to fathom this. Not that it will matter if they once
do.  One also wonders what Mme Bernanke de Pompadour and his court are
thinking. “She” and her courtiers should have above average intelligence
and could not possibly avoid seeing the facts that we all see today (of
course, some of us have seen it coming for over a decade). But “she”
has to please her master King Louis XV Obama and her devotion to the
king goes above all reasonable common sense, or rationale. So the two of
them will continue to crank up the printing press and drown their
people and the world in worthless paper.

Stock Market

To believe that the current money
printing liquidity boom is real and sustainable would be a very serious
and expensive mistake. The temporary and illusionary pickup that we are
now seeing in the economy and stock market is the normal initial phase
of a hyperinflationary economy. It must not be mistaken for a real
improvement in the economy.

The normal pattern at the beginning of a
hyperinflationary period is that stock markets surge. This is the
result of the increased liquidity and a flight to more inflation proof
assets. This was the case in for example the Weimar Republic and
Zimbabwe.  Just look at the chart below of the Zimbabwe stock exchange
that went from 1,420 in January 2005 to 5.4 trillion in June 2008, a 3
billion per cent increase.  That was of course in Zimbabwe dollars. In
US dollars the stock exchange went sideways with major volatility.  So
in hyperinflationary terms stock markets could continue to rise
initially thus making them a better investment than cash. However,
measured against real money, the Dow has gone down 82% against gold
since 1999 and 86% against silver since 2001 (see chart above). We are
currently seeing a dead cat bounce but we expect the Dow to decline a
further 90%, at least, against gold in the next few years. So even if
stock market investments will initially give the illusion of protecting
investors, it will be a very poor hedge against the ravages of
hyperinflation in real terms.

ZIMBABWE STOCK INDEX 2007-2008

Bond market

In January 2009, we warned investors
that long term interest rates were bottoming. Since then the 30 year
bond yield is up from 2.6% to 4.6% an 80% rise. But more importantly the
30 year is currently in the process of breaking a 17 year downtrend
line which dates back to 1994. This confirms that rates will now start a
major and rapid rise which is likely to reach the mid-teens or higher.
Governments will attempt to keep short rates low due to weak economies
but eventually the rising long rates will put strong upward pressure on
the short rates.  So the flight to government bonds that we have seen in
the last few years will soon reverse into a massive rush for the exit.
This will coincide with rapidly increasing financing requirements by the
US, UK, EU and many other governments. The poisonous concoction of
rising rates and rising financing needs will create a vicious circle of
collapsing bond markets and unsustainably high financing cost. This will
continue to drive interest rates even higher which will further
increase deficits and necessitate even faster running printing presses.
Add to that a collapsing currency and the hyperinflationary picture is
complete. It is our very strong view that investors should exit bond
markets entirely if they want to avoid a total destruction of their
assets.

Currency Market

As we have explained for many years, hyperinflation is created by the
government destroying the currency as a result of money printing to
finance deficits. This leads to the cost push inflation that we are now
experiencing. Add to that, shortages in commodities worldwide, thus
creating the perfect hyperinflationary scenario. The Dollar, the Pound,
the Euro and many other currencies will continue to decline. They can’t
all decline against each other at the same time so the market will take
turns in attacking one currency at a time. But all currencies will
continue to decline against gold. We believe that the dollar will soon
start a very rapid fall against gold and against many currencies.
Investors should exit the Dollar and also the Pound and the Euro. There
is no currency better than gold or silver but for any small amounts of
cash we prefer the Swiss Franc, the Norwegian Krone, the Singapore
dollar and the Canadian dollar.

Wealth Protection

A hyperinflationary depression will
destroy the value of money as well as most assets that were financed by
the credit bubble (property, stock market).  Wealth protection is now
critical and urgent. We see no better way of protecting assets against
total destruction than physical gold and silver stored outside the
banking system. Thereafter, precious metals, energy and food stocks are
our preference.  But it must be remembered that any asset including
stocks that is held through a bank is dependent on a sound and surviving
banking system.

The real move in precious metals is
still to come as we have outlined in many articles. Less than 1% of
investors own gold. Before this economic cycle is over we are likely to
see a mania in physical precious metals that will drive prices
exponentially higher. And luckily for investors, this is a mania which
is unlikely to end in a collapse since gold most probably will be part
of a future reserve currency.

Finally we are again quoting von Mises who clearly understood that “le déluge” is inevitable:

“There is no means of avoiding a
final collapse of a boom brought about by credit expansion. The
alternative is only whether the crisis should come sooner as a result of
a voluntary abandonment of further credit expansion or later as a final
and total catastrophe of the currency system involved.”
– Ludwig von Mises

 

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Sun, 03/06/2011 - 15:23 | 1023901 celticgold
celticgold's picture

 yeah , its on

Sun, 03/06/2011 - 15:48 | 1023971 Sudden Debt
Sudden Debt's picture

it's not just on, it's almost over.

once the rates go into double digits, all the private reserves of the citizens will be gone.

Like most have already seen : only about 1% has protection of their wealth in gold or silver. Give it another year and no normal person will be able to buy it anymore.

 

Sun, 03/06/2011 - 16:35 | 1024109 DoChenRollingBearing
DoChenRollingBearing's picture

Sudden, that is a great remark about no normal people will be able to buy gold in a year or so.

The percentage that I have seen the most is that 3% own physical (non-jewelry) precious metals.  1% seems too low, as I do know at least three people who own gold & silver...

Am I correct that it is similar there in Europe (1% - 3% own PMs)?  I had read that Germans have been on a buying blitz lately.

Sun, 03/06/2011 - 16:38 | 1024122 tmosley
tmosley's picture

Which is closer to the truth:  you know 100 people, or you know 300 people?

1% is just about spot on from my observations.  I have known exactly one person who owned silver before I spoke to them about it.  I have convinced perhaps a dozen people by now to buy silver, even if in only tiny amounts.

Sun, 03/06/2011 - 17:02 | 1024182 Malcolm Tucker
Malcolm Tucker's picture

Anonymous activist/hacker group interview with Al Jazeera:

http://fedupmontrealer.blogspot.com/2011/03/anonymous-interview-on-al-jazeera.html

Sun, 03/06/2011 - 22:29 | 1024985 Imminent Crucible
Imminent Crucible's picture

It's Monday morning in Asia, and silver is already over $36.

I think von Greyerz is right; prices are already running away.  I wonder how Blythe Masters is feeling right now.

Heehee.

Mon, 03/07/2011 - 06:23 | 1025528 Popo
Popo's picture

The bond market apparently disagrees that there is hyperinflation.  

You can look at whatever market metric you like.  But one metric is the largest capital market on Earth, and the other is a small, highly-manipulated, relatively illiquid market.

I know I'll get junked for this comment.  But really -- I'd like to hear some logical rebuttal to the fact that the bond market is not behaving like there is any sort of imminent hyperinflation.

Inflation, yes.  Absolutely. Crippling inflation is without question in our future.  But hyperinflation?  Imminent?   I see no evidence of that in bond rates.

Responses?  Analysis?

 

 

Mon, 03/07/2011 - 14:18 | 1026737 akak
akak's picture

When the Fed essentially now IS the bond market, what other signal than "all is well" do you really expect it to relay?

The "bond vigilantes" were all sent to the gas chamber by Herr Obergruppenfuhrer Bernanke long ago.

Sun, 03/06/2011 - 19:44 | 1024525 velobabe
velobabe's picture

funny story, T, my girlfriend Liza Leggette who dated Iggy Pop, told me her Dad only did

G O L D , in 1981. i remembered it quite well. i have been thinking about gold for almost 30 years now. so i believe, i was aware of one being able to invest in gold. all kinds of investments in life, have to be open†

Sun, 03/06/2011 - 20:39 | 1024667 Xkwisetly Paneful
Xkwisetly Paneful's picture

IMHO Once the fed steps aside prices are coming down.

QE started and equities and commodities have appreciated dramatically when QE stops they will be coming back to earth.

Besides the obvious mania/panic depending on perspective taking place.

Mon, 03/07/2011 - 00:28 | 1025262 rich_wicks
rich_wicks's picture

The Federal Reserve will never step aside.

Their function is the preservation of the banking sector, that's their only function.  The Federal Reserve will do whatever it takes to keep the banking system solvent, up to, and including, impoverishing you, and destroying the nation as you know it.

Mon, 03/07/2011 - 00:31 | 1025269 Xkwisetly Paneful
Xkwisetly Paneful's picture

Every month a different fed member balks at QE to infinity,

at some point it will stop and so will the mania/panic IMO.

Mon, 03/07/2011 - 01:24 | 1025365 TwoShortPlanks
TwoShortPlanks's picture

IMHO, when QE ends, Commodity prices will collapse, Bonds will collapse, Property value will implode (fully this time) and then the fire-works I've personally been waiting for, the unwinding of Derivatives. Paper metal will collapse too, and this collapse will further stoke demand for the physical. The price will go through the roof. Anything built upon Leverage ("multiple claim of underlying real wealth") will reset to zero where it belongs.

Once Fiat Atlantis has slid into the sea and the [demand] wave displacement has shot physical precious metals sky high, and the dust starts to settle, Agricultural assets will be King.

I think there's a growing realisation that the longer QE goes, the steeper the downward slope will eventually be...question is-is the slope a cliff face already, or worse? I'm guessing the economic ground we currently walk is a large, thin cornice over a 1000ft drop...'Dead Budgie!'

Forget US$100 per oz Silver, try US$1,000+. Go ahead and laugh if you so wish, but I know that the steeper that cliff is, the greater the physical will be propelled (temporarily).

P.S. The value of $1,000 is meaningless anyway, more accurate to say an ounce of Silver is equal to a sack of potatoes...but at least it can buy that sack of potatoes, unlike paper!

Mon, 03/07/2011 - 02:36 | 1025435 Xkwisetly Paneful
Xkwisetly Paneful's picture

Except that commodities have gone up dramatically with QE.

Mon, 03/07/2011 - 06:19 | 1025530 Popo
Popo's picture

So you see commodities performing equally well under inflation and deflation?

 

 

 

Tue, 03/08/2011 - 05:12 | 1028972 wintermute
wintermute's picture

The Fed cannot stand aside until Congress stops running deficits.

The deficit is $1,640 billion, the Republicans want to cut $100 billion, but can't even stomach the fight with Obama to cut $50 billion. These amounts are nothing compared to the belt tightening required.

 

Mon, 03/07/2011 - 01:54 | 1025408 Freddie
Freddie's picture

Does James Osterberg Jr. own precious metals?  Did he wear a shirt of dates?

What are the paper alternatives that own real bullion?  CEF?  Sprott's PHYS that Fred Hickey was buying?

I do not want to be stuck with Barack Mugabe dollars.

 

Sun, 03/06/2011 - 23:35 | 1025163 GeorgeHayduke
GeorgeHayduke's picture

About 3 years ago was the last time I talked about silver to folks who I know have a lot of money (my in-laws). They just kind of laughed me off with one of those "isn't he cute thinking he knows about investing real money" smirks. They then told me all about how they lost money investing in silver in the early 80's (they bought in late), and how it's a sucker investment, yadda, yadda.

Today, they know we hold physical and that my silver stocks have been kicking ass the past several months while their "safe" investments have been crap. But they have not yet conceded that I made a better investment choice. I doubt they ever will and I don't care. I'm doing what I think is best for my family. I'm not out to prove how much more correct I was.

Still, it's interesting to watch the people who really believed in the system getting their asses handed to them. They still equate it to Democrats, or socialism, or crap they hear on Faux News without really looking at what's happening. Hang on, it's going to get worse and most of those folks will be looking for someone to take it out on. Interesting times surround us in every direction!

Mon, 03/07/2011 - 09:58 | 1025771 Triggernometry
Triggernometry's picture

George;

I just want to say that "Don't Get Angry, Get Even" is one of the funniest, informative books I've read.

-Trigg

Mon, 03/07/2011 - 01:24 | 1025364 DoChenRollingBearing
DoChenRollingBearing's picture

tmosley, if I had to pick a number of people I "know" (meaning I know them well enough to have a normal kind of conversation, with someone, who, well, I know), then that would perhaps be 100 - 150 people.  No way 300, in my case.

Three own gold and/or silver.  3 / 120 (say) would be a bit over 2%.

We're both right!

I wish I had a reference for you re reading that approx. 3% own physical PMs.  If I ever see it again, I'll drop into a future conversation.

Tue, 03/08/2011 - 11:39 | 1029628 The Navigator
The Navigator's picture

Where I live, (in Extremistan) I only know 3 people who own physical PMs - but I know about 150 people (living in Mediocrastan) who are totally oblivious to the coming deluge. So 1-2% is about right.

Sun, 03/06/2011 - 18:40 | 1024402 PY-129-20
PY-129-20's picture

If you buy silver or gold in Germany, you are regarded by normal citizens as a crazy person. Furthermore, you will find many articles about why buying silver or gold is only for people that believe the end is nigh [which is, according to the media, of course absolutely ridiculous]. The mainstream media is still very happy to print all these record numbers. Mood is very bullish. Even average people are thinking that the worst is over.

So you are either a conspiracy nut or a doomer. Although I can confirm that there is a stronger demand for PM lately.

You would think that after years of being lied to, frauds and whatelse, people would be more clever, more cautious. And given the Euro outlook, you would also think that people wouldn't be too optimistic about that.

The average American person might be entertained by the demise of Charlie Sheen or NFL. The average German person is entertained by Bundesliga (soccer) and the demise of the politician Guttenberg. But I've got the feeling that owning Gold and Silver is more accepted in the United States. Correct me, if I am wrong.

Sun, 03/06/2011 - 19:04 | 1024446 misterc
misterc's picture

It's a different mentality. Americans seem to distrust the state itself in general. Germans on the other hand like to put their faith in the hands of "Vater (daddy) Staat". The €uro might be in trouble, gasoline prices might be exploding, but ultimately, the government will somehow take care of it and shield its citizens from the fallout. That's the common opinion.

And yes, to own Silver or Gold seems very disturbing to most people. Like exchanging good money for useless crap, basically throwing it out of the window.

Mon, 03/07/2011 - 05:12 | 1025515 feelingspicy
feelingspicy's picture

This might be true for the older generation. I think this is changing alot with younger people. Since we dont have to rely on the 8oclock news in the first program or have to read the big newspapers faz and sz for getting valueable information.

I would say that if you cast a vote for the 18-29 year old the christian democrats would find it hard to enter the parliament by overcoming the 5% barrier.

The two 'Volks'partys as they liked to be reffered to are in a major decline. CDU and SPD could combine almost 90% of the votes in 1970. Now they are at 56% and this will go on.

But it's ture that most people don't have a feeling for the urgency to protect against the loss of purchasing power.

Sun, 03/06/2011 - 23:26 | 1025136 MrSteve
MrSteve's picture

A while ago a ZH post documented German Landesbanks (state banks) being leveraged 10X  to 25X than US hedge funds. I can't see such poorly capitalized , under-reserved banks surviving the Euro bust unwinding now in Ireland and soon, Italy and Greece.

Sun, 03/06/2011 - 23:31 | 1025152 dalkrin
dalkrin's picture

Komisch, ich dachte nach dem Weimar Republik sollen die Deutsche echt wissen, wie das Papier gegen Gold und Silber steht. 

Of all people, the Germans should be aware of the dangers of hyperinflation.  I guess memory of the past has been blotted out.  Don't worry what others think, just keep it as your secret but keep buying.  Looks like the train is already leaving the station.

Sun, 03/06/2011 - 23:44 | 1025164 Pegasus Muse
Pegasus Muse's picture

"If you buy silver or gold in Germany, you are regarded by normal citizens as a crazy person."

Nay, nay.  Bought gold in Germany in the last 6 months through a local German bank.  The officer manager was not the least phased.  Many people ordering gold.  Not so much silver though.  But that was a few months ago.  It has probably picked now that the prices are higher.  

A German friend is a lawyer.  Many of his clients own PMs.  Some store in Switzerland, Lichtenstein, or with Goldmoney.com.  Other have their own personal vaults in their homes or elsewhere. 

Many Germans remember the stories passed down by their elders about the hard times during the Weimar period. 

Mon, 03/07/2011 - 03:52 | 1025497 Confused
Confused's picture

Yes they do remember. I'm not sure that Germans exactly trust the state as many here seem to think. Google maps, for example, does not have street view available in Germany (I'm not sure if its still wide spread, as I haven't had to use it) or Austria. Similarly, you cannot find public transportation schedules on Google maps in parts of Germany or in Austria. And its not because Google hasn't had the time.

 

http://german-way.com/blog/2010/04/12/no-google-street-view-in-germany-a...

Mon, 03/07/2011 - 04:17 | 1025506 misterc
misterc's picture

You're reading ZeroHedge. Your friend is a lawyer. That tells me you're at least part of the top 25% intellect-wise of the population. Same goes for your friend's clients'.

I'm talking about J6P, who might have, at best, a few thousand Euro in his savings account. To him, it still seems idiotic to buy Gold. Especially since price have gone up so much. Gold is perceived as too expensive.

Oh, and Google Maps IS available in Germany. They recently started it with the biggest cities (Berlin, Hamburg an so forth). But it's an American company. Many people distrust Google and had their houses blurred. I guess every 20th house is blurred out (they look like blurred licence tags on TV).

Mon, 03/07/2011 - 02:13 | 1025422 Freddie
Freddie's picture

I think the evil elites control the news media and TV in Germany, UK, USA, Canada, Australia, NZ, Europe et al.    They use idiot sports to brainwash the sheep like Stalin and others before.

Sun, 03/06/2011 - 17:39 | 1024277 IQ 145
IQ 145's picture

 I would like to dis-agree, respectfully. I appreciate your posts, and especially your position as a listening post in Belgium; but "these things take time". It's very un-wise of the author of the post to refer to "hyper-inflation"; what he is discussing is plain old inflation; which  of course, is with us. This can go on for many years. The most probable outcome, is that it will.

Tue, 03/08/2011 - 05:20 | 1028977 chumbawamba
chumbawamba's picture

While you were pretending to be paying attention, hyperinflation came up behind you and stole your wallet.

I am Chumbawamba.

Sun, 03/06/2011 - 21:26 | 1024800 aerojet
aerojet's picture

It doesn't matter because gold and silver are not going to save you. 

Sun, 03/06/2011 - 21:28 | 1024809 akak
akak's picture

Oh, "this time it's different", eh?

Care to explain your flyby denial of 2000+ years of monetary history?

Mon, 03/07/2011 - 00:00 | 1025219 LowProfile
LowProfile's picture

You mean 6000

Mon, 03/07/2011 - 01:38 | 1025387 Yen Cross
Yen Cross's picture

You are not tricking anyone! Don't get smart with me. I love ya! The third eye should be red.

Wed, 03/09/2011 - 17:00 | 1034052 Miles Kendig
Miles Kendig's picture

If you're gonna get all breathless akak .... Collect those coins

http://www.youtube.com/watch?v=F7qMybIxLiE

 

Mon, 03/07/2011 - 07:11 | 1025546 Reptil
Reptil's picture

I agree, aerojet. That alone is not enough. But it helps.

Sun, 03/06/2011 - 15:50 | 1023986 IQ 145
IQ 145's picture

 "exponentially higher"; and not, thank God, parabolically higher. Educated in Europe; isn't it wonderful. Pleaase, everyone remember, there are no parabolic price charts. none. not one. not anywhere. OK? thank you.

Sun, 03/06/2011 - 16:14 | 1024058 tmosley
tmosley's picture

Eh?  A parabola is an exponential function.  I don't know why people get their knickers in a twist over this stuff.  When they say "parabola" they are talking about the rough shape, not the mathematical formula of the line, which is near infinitely complex.

Sun, 03/06/2011 - 17:34 | 1024268 Gigliola Cinquetti
Gigliola Cinquetti's picture

No it's not . A  parabola is this : y=a*¨x^2+b*x+c

An exponential function is this : y=b*e^ax

Sun, 03/06/2011 - 17:40 | 1024281 IQ 145
IQ 145's picture

 Thank You.

Sun, 03/06/2011 - 18:02 | 1024332 toto
toto's picture

Sometimes the term exponential function is used more generally for functions of the form cbx, where the base b is any positive real number, not necessarily e.

From wiki

Sun, 03/06/2011 - 18:39 | 1024389 Goldilocks
Goldilocks's picture

x^2 ... is an exponent ... hence it is exponential.

BTW … without brackets (order of operations) those equations are a mess.

Sun, 03/06/2011 - 18:40 | 1024401 Yen Cross
Yen Cross's picture

send your law degree girlfriends. You sexy VIXEN.

Sun, 03/06/2011 - 22:27 | 1024983 StychoKiller
StychoKiller's picture

Sorry, but 2 ^ x is an exponential function, x ^ 2 is a simple parabola.

Mon, 03/07/2011 - 01:28 | 1025374 DoChenRollingBearing
DoChenRollingBearing's picture

That is my understanding as well.

Sun, 03/06/2011 - 20:48 | 1024724 Variance Doc
Variance Doc's picture

A parabola does not follow your first equation.  The first equation is a quadratic function.  At least you got the second right.  You're lucky that 50% is still a passing rate in most schools.

Mon, 03/07/2011 - 00:16 | 1025242 JW n FL
JW n FL's picture

Play nice V Doc... you are above being dragged into anything with regard to math.

Mon, 03/07/2011 - 17:43 | 1027500 Variance Doc
Variance Doc's picture

Thanks, but sometimes the gods have to set the mortals straight.  :)

Sun, 03/06/2011 - 16:19 | 1024074 Dr_Dazed
Dr_Dazed's picture

Thanks - this "parabola" crap has been bugging me to no end.  I'm just too lazy to have whinged about it.

Sun, 03/06/2011 - 17:42 | 1024289 IQ 145
IQ 145's picture

 you're welcome. Illiteracy is never to be condoned.

Sun, 03/06/2011 - 18:20 | 1024369 cossack55
cossack55's picture

"never to be condoned", however, to be reinforced thru the tireless efforts of the Dept. of Edumacation.

Sun, 03/06/2011 - 17:05 | 1024193 toto
toto's picture

parabolic is asymptotic,same as expontential.

Sun, 03/06/2011 - 17:58 | 1024328 Webutante
Webutante's picture

Yes, and they both start out seemingly in slow, predictable linear fashion, then race to infinity very quickly.

Sun, 03/06/2011 - 20:40 | 1024700 Variance Doc
Variance Doc's picture

No dude, you got it wrong.  A parabola is a element of analytic geometry, i.e. conic sections.  It is discribed via the equation y^2=4px or x^2=4py, where p is some constant.  Note the difference between this and a quadratic function y=a*x^2+b*x+c.  They are not the same.

Asymptotic refers to behavior of functions, etc. as values approach infinity.  It has nothing to do with a specific function.

New lows for the American education system, yet again....

Mon, 03/07/2011 - 08:47 | 1025623 toto
toto's picture

I never said that parabola is exponential function.

Your second paragraph is exacly what i meant.

conic sections existed long before analytic geometry and makes easier to see the asymptotic behavior of parabola.

I'm not American,so your education system is OK.

Mon, 03/07/2011 - 16:39 | 1027279 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Listen, toto, you jackass, I didn't say this yesterday because I thought it was a waste of space and that surely everyone else must know this basic knowledge. But my nerd rage has boiled over since you are still here the next day saying the same dumb shit today. I hate myself for typing all this out, but:

Neither parabolas nor exponential functions behave asymptotically in the way you are thinking.

The only asymptote on any parabola is at its maximum or minimum. In the graph of y=x^2, the asymptote glances the graph at x=0. Y increases without bound as X does and there is no asymptotic behavior.

Likewise for exponential functions, where the variable is in the exponent, y=2^x. These graphs are "hockey sticks" in general and the handle of the hockey stick is the only part that behaves asymptotically (y asymptotically approaches 0 as x decreases without bound.) As X increases without bound, so does Y, and there is no asymptotic behavior on the right end.

To bring it back to the context of price charts, neither charts that resemble parabolae nor charts that resemble hockey sticks have any asymptotic behavior at any price on the x-axis.

Now go fuck yourself.

edit: The winningest comment in all this parabolic / asymptotic sub-thread has got to be:

Alex Jones is going parabolic.

Mon, 03/07/2011 - 16:46 | 1027311 akak
akak's picture

Math rage --- gotta love it!

Mon, 03/07/2011 - 17:49 | 1027543 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

I even fucked up my own explanation.

I mixed up a tangent line to a parabola with an asymptote.

Parabolas have no asymptotes.

Mon, 03/07/2011 - 18:18 | 1027626 akak
akak's picture

We'll forgive you, this time, for going off on a tangent and making an asymptote of yourself.  Letting one's e-motions go parabolic almost seems like an integral part of the function of this site.

Mon, 03/07/2011 - 20:00 | 1027922 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

All my old friends at the Chastity Club, er Math Club, from high school are making fun of me right now. They like your Fox Attitude, though. Props.

Sun, 03/06/2011 - 19:20 | 1024483 rich_wicks
rich_wicks's picture

"there are no parabolic price charts."

Sure there are.

You see parabolic gains during blowoff tops.  Draw an exponential function on a logorithmic graph, then convert it to a linear graph.

See what you get.

Sun, 03/06/2011 - 21:49 | 1024857 aerojet
aerojet's picture

It's probably more of a logistic function since that is one that appears to grow exponentially and then levels off or falls after it peaks.

Sun, 03/06/2011 - 15:53 | 1023994 Ray1968
Ray1968's picture

I just wish some of that flood of money would flood into my pockets. I haven't seen much of anything to personally benefit from.

Yeah, its all about me, isnt it?

Sun, 03/06/2011 - 16:27 | 1024090 Michael
Michael's picture

It's all about the NWO. The article was good except for the Gordon Brown globalist piece of shit stuff.

I love the smell of bankruptcy in the afternoon.

Project  BLS Mayhem.

Gordon Brown New World Order Speech

http://www.youtube.com/watch?v=Uv5cqh26CC0

Sun, 03/06/2011 - 17:33 | 1024267 benb
benb's picture

I don’t know about you guys but I’m having a marvelous crisis.

Sun, 03/06/2011 - 17:56 | 1024324 DJ13Francis
DJ13Francis's picture

Me too! I'm taking great pride in knowing that I called this fifteen years ago.  Marvelous.

 

DavidJamesFrancis.com

Sun, 03/06/2011 - 18:20 | 1024365 Michael
Michael's picture

Nice 4 page article on Alex Jones in Rolling Stone.

Meet Alex Jones, the Talk Radio Host Behind Charlie Sheen's Crazy Rants

It's just past 9 a.m. when Alex Jones pulls his Dodge Charger into a desolate parking lot in Austin. From the outside, the squat, single-story office complex that Jones calls his "command center" resembles a moon base surrounded by fields of dying grass. But inside, blinking banks of high-tech recording gear fill the studio where he broadcasts The Alex Jones Show, a daily talk show that airs on 63 stations nationwide. Jones draws a bigger audience online than Rush Limbaugh and Glenn Beck combined — and his conspiracy-laced rants make the two hosts sound like tea-sipping NPR hosts on Zoloft.

Glenn Beck's Shtick? Alex Jones Got There First

A stocky 37-year-old with a flop of brown hair and a beer gut, Jones usually bounds into the studio, eager to launch into one of his trademark tirades against the "global Stasi Borg state" — the corporate-surveillance prison planet that he believes is being secretly forged by an evil cabal of bankers, industrialists, politicians and generals. This morning, though, Jones looks deflated. Five days ago, a mentally disturbed 22-year-old named Jared Loughner opened fire on a crowd in Tucson, Arizona, killing six and seriously wounding Rep. Gabrielle Giffords. Loughner was reported to be a fan of Loose Change, a film Jones produced that has become the bible for those who believe 9/11 was an inside job.

http://www.rollingstone.com/politics/news/talk-radios-alex-jones-the-most-paranoid-man-in-america-20110302?asid=98b65563

Sun, 03/06/2011 - 18:59 | 1024430 Michael
Michael's picture

I thought Jones was going overboard on this subject, but apparently he's not.

TSA, DHS plan massive rollout of mobile surveillance vans with long-distance X-ray capability, eye movement tracking and more                                                                                                                                                                                                                                             "(NaturalNews) Newly-released documents obtained by the Electronic Privacy Information Center (EPIC) reveal that the US Depart of Homeland Security has been working on plans to roll out a new wave of mobile surveillance technologies at train stations, stadiums and streets. These new technologies will track your eye movements, capture and record your facial dimensions for face-recognition processing, bathe you in X-rays to look under your clothes, and even image your naked body using whole-body infrared images that were banned from consumer video cameras because they allowed the camera owners to take "nude" videos of people at the beach.   Most importantly, many of these technologies are designed to be completely hidden, allowing the government to implement "covert inspection of moving subjects." You could be walking down a hallway at a sports stadium, in other words, never knowing that you're being bathed in X-rays from the Department of Homeland Security, whose operators are covertly looking under your clothes to see if you're carrying any weapons." http://www.naturalnews.com/031603_surveillance_police_state.html
Mon, 03/07/2011 - 03:34 | 1025485 John_Coltrane
John_Coltrane's picture

Fortunately x-rays are so strongly absorbed by air that as long as you stay about a cm away from their camera and/or stay out of a vacuum (better for breathing too) their "images" are going to be mighty fuzzy.

Sun, 03/06/2011 - 19:01 | 1024437 Yardfarmer
Yardfarmer's picture

Alex Jones is going parabolic.

Sun, 03/06/2011 - 19:45 | 1024532 Zero Govt
Zero Govt's picture

well Hilary Clinton wants to increase the already parabolic US 'media' budget from its current colossal $750m to counter Chinese etc countries global propaganda machines
....given that only 26% of US citizens believe their own media (ie. most think US media is sugar coated delusional dross) what %percentage does Hilary think the rest of the globe will believe in her bigger budget US propaganda?
Let's work on the basic assumption that 74% of the $750m US budget is already falling on deaf ears, this dumb bitch wants to piss even more money away on a message nobody wants to hear!!!

Sun, 03/06/2011 - 19:46 | 1024533 equity_momo
equity_momo's picture

Jones is only 37? Youre shitting me. He is one blown out 37 year old.

Mon, 03/07/2011 - 07:13 | 1025548 Reptil
Reptil's picture

+ 54

Sun, 03/06/2011 - 19:44 | 1024530 equity_momo
equity_momo's picture

Pick your favorite view point and put on your special shades , the blast is going to be unbelievable , you dont want to miss it.

Sun, 03/06/2011 - 23:57 | 1025213 jimijon
jimijon's picture

It's on like Donky Kong

 -- fixed

Sun, 03/06/2011 - 15:27 | 1023907 RockyRacoon
RockyRacoon's picture

Corporate tax income to government is 9% of total?  Individual income taxes is 41% according to the pie chart.  What is the corporate percentage of net profit in relation to the individuals' income?   Or is that a relevant comparison.   Just seems out of whack for some reason.   Somebody show me the error of my thinking.

I don't read these articles with the same sense of gloom, doom, and Armageddon that I used to.   My preparations are about as fine tuned as I can get them on the resources I have.   I reckon it's time to rock n roll.

Sun, 03/06/2011 - 15:46 | 1023962 Sancho Ponzi
Sancho Ponzi's picture

Corporate profits were about $1.5 trillion last year, so that works out to be about a 12.5% tax rate. Must be nice...

Sun, 03/06/2011 - 15:47 | 1023972 tmosley
tmosley's picture

You think consumers don't pay those taxes?

Pay attention.

Sun, 03/06/2011 - 16:05 | 1024032 Rusty Shorts
Rusty Shorts's picture

 - you are exactly right tmosely, CORPORATIONS make 8% profit by law

Sun, 03/06/2011 - 15:58 | 1024010 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"Somebody show me the error of my thinking"

You want us to point out the error in your thinking? That should be easy...

We should not even be alive. We are here because of crude oil. We will perish when it cannot be replaced.

Wait a minute. I'm communicating with a person who cannot even spell Raccoon?

Never mind....

Sun, 03/06/2011 - 16:54 | 1024167 New_Meat
New_Meat's picture

Judy:

"Wait a minute. I'm communicating with a person who cannot even spell Raccoon?"

Ya gotta' blame his great-grandfather, who came in through Ellis Island and they spelled it wrong. ;-)

- Ned

Sun, 03/06/2011 - 17:06 | 1024196 MsCreant
MsCreant's picture

+Adorable!

Sun, 03/06/2011 - 17:06 | 1024190 MsCreant
MsCreant's picture

We should not even be alive.

Why, because you say so? The oil was, we used it, we are alive. Should or shouldn't doesn't have shit to do with it. Get your Zen on High and Mighty Judy. To think that somehow you are separate from nature because the circumstances of your birth is coated in oil misses the bigger point. Oil is nature. We are nature. There is no separate. The question is "How will we navigate the boundaries of this Petri dish we share called earth?" Gotta admit, I agree with you that it ain't looking too good. But it does seem that crisis is what is takes before you can get the response you need to change anything. Evolutionarily that just seems to be where we are at and who we are. It may be too late to save most of us.

Besides, Rocks is cool. He does not deserve your contempt. 

Sun, 03/06/2011 - 17:26 | 1024251 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"Oil is nature. We are nature. There is no separate."

This is too simplistic for such an intellect as yourself. Oil derivatives are the fruits that have lead to hyper growth, population and financial.

The separative is the application of intellect.

The application of intellect without taking into account human nature is how we have arrived at this juncture. Greed. Unchecked.

In the end we will be happy if we can catch a raccoon, there will be very few food resources and too many hungry humans. That is when we will look at each other and salivate and not in a lustful way.

Sun, 03/06/2011 - 19:14 | 1024464 RockyRacoon
RockyRacoon's picture

I spelled raccoon that way deliberately and explained it several times, but then you weren't around in those days.

Judge Judy Scheinlok     History
Member for  4 weeks 2 days
Sun, 03/06/2011 - 22:13 | 1024920 akak
akak's picture

I spelled raccoon that way deliberately and explained it several times, but then you weren't around in those days.

Judge Judy Scheinlok    History

Member for  4 weeks 2 days
Regardless of how long Judge Judy has been around, he/she certainly is a member!
Sun, 03/06/2011 - 22:21 | 1024951 Yen Cross
Yen Cross's picture

A member of what exactly? The (fossil chisling society)?

Sun, 03/06/2011 - 22:26 | 1024973 RockyRacoon
RockyRacoon's picture

She's a pustulous hag but I didn't want to tell her that to her face.  My momma taught me better, however, the lesson on gossip didn't go over so well.

Sun, 03/06/2011 - 22:33 | 1024998 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Are you still mad about this? [patience little buddy, let it load]

http://v.ku6.com/show/UvnXpjG_VVZcbL2l.html

Sun, 03/06/2011 - 23:31 | 1025150 RockyRacoon
RockyRacoon's picture

Fool me once, shame on you...  I won't be fooled again!

Er, somethin' like that.   Gotta check with Dubya on how that goes.

Sun, 03/06/2011 - 23:50 | 1025191 cosmictrainwreck
cosmictrainwreck's picture

I'm just dyin' to know who's hiding behind that avatar [not you RR, the dame], but alas, we are all safe in the cocoon of anonymity. how come raccoon has 2 c's, but cocoon doesn't?

Mon, 03/07/2011 - 01:03 | 1025321 RockyRacoon
RockyRacoon's picture

It's all in the etymology my friend.

Mon, 03/07/2011 - 02:51 | 1025454 Yen Cross
Yen Cross's picture

U get my like button!

Mon, 03/07/2011 - 07:47 | 1025558 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"U get my like button!"

Who says stuff like that? Do you know of an app that converts Yen Cross to English?

Sun, 03/06/2011 - 21:14 | 1024770 HellFish
HellFish's picture

Wow.  Your pomposity just bleeds through the screen as your words are read.  Let me guess overcredentialed from a liberal university?

Sun, 03/06/2011 - 22:07 | 1024893 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

The world population will be culled and the lack of food will force us to devour each other. Do you hear me man?

Go long Huey Fong Sriracha Hot Chili Sauce (28oz), you'll need it.

http://www.amazon.com/Huey-Fong-Sriracha-Chili-Sauce/dp/B000LO40AG

Sun, 03/06/2011 - 22:10 | 1024910 Cognitive Dissonance
Cognitive Dissonance's picture

While the rest of us will go short Judge Judy Scheinlok. Deal?

You go away while I order up the sauce. Six bottles since I get free 2 day delivery.

Sun, 03/06/2011 - 22:15 | 1024928 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Don't forget the fava beans and a nice Montepulciano.

Sun, 03/06/2011 - 22:22 | 1024963 Yen Cross
Yen Cross's picture

The only thing I read, Is a man trapped in a body that needs a good SHAVE. Grow up JUDITH.

Sun, 03/06/2011 - 22:30 | 1024990 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

What is it with you? How long have you been working with the English language?

Sun, 03/06/2011 - 22:53 | 1025055 Yen Cross
Yen Cross's picture

About 45 years. What is your excuse?

Sun, 03/06/2011 - 23:24 | 1025129 EvlTheCat
EvlTheCat's picture

.

Sun, 03/06/2011 - 23:22 | 1025132 EvlTheCat
EvlTheCat's picture

From your argument people should be going long Soylent Green not chili sauce..

Mon, 03/07/2011 - 02:31 | 1025438 Yen Cross
Yen Cross's picture

Miss respectful. You kick intellectual ass. (MsCreant) You are a smokin hottie! Keep the posts coming.

Sun, 03/06/2011 - 17:47 | 1024300 IQ 145
IQ 145's picture

 good reminder eh? it's an internet blog.

Sun, 03/06/2011 - 15:28 | 1023917 bob_dabolina
bob_dabolina's picture

Put this in every classroom.

This should be mandatory reading to every student in America.

Sun, 03/06/2011 - 15:41 | 1023954 Cognitive Dissonance
Cognitive Dissonance's picture

You and I don't control America's classrooms. Thus this type of financial information will never see the inside of a public school classroom, at least not in this format and with this editorial comment.

The new control system is strangely similar to the old control system.

Sun, 03/06/2011 - 15:48 | 1023978 cossack55
cossack55's picture

Which thru the miracle of extrapolation is strangely similar to the older control system which is identical to the oldest control system.  The Devine Comedy #2.  Which begs the question: which level are we currently on.  I'm sure I see the Styx in the rearview mirror. 

Mon, 03/07/2011 - 15:42 | 1027127 New_Meat
New_Meat's picture

"The Devine Comedy #2."

Is that the SNL skit/takeoff on Iron Chef where they take that cloaca-thingie out of Jumbo Shrimp?

Sun, 03/06/2011 - 15:49 | 1023980 bob_dabolina
bob_dabolina's picture

I guess at this point it doesn't even matter.

Protecting yourself through preparedness is paramount.

I'd rather be over prepared then under prepared.

Sun, 03/06/2011 - 15:58 | 1024011 cossack55
cossack55's picture

Ya gotta love that ole sayin', I'd rather be two years early than one day late.   LMFAOWROTF.

Sun, 03/06/2011 - 17:56 | 1024325 IQ 145
IQ 145's picture

 Actually, I was two years early; I bought by base of silver bullion at  $6.53; and had to wait while it made incredible lows at 4.35; the pain is all gone now, tho.

Sun, 03/06/2011 - 18:28 | 1024386 cossack55
cossack55's picture

Close. I was 40 years early when paying 10 cents for Mercury dimes in 1963.  Glad I saved them.  Who would ever have thunk that a hobby (other than gun collecting) may become life-preserving.

Sun, 03/06/2011 - 17:27 | 1024253 Yen Cross
Yen Cross's picture

I, Guess.'

Sun, 03/06/2011 - 19:07 | 1024449 bob_dabolina
bob_dabolina's picture

blow me shit stain.

Sun, 03/06/2011 - 16:03 | 1024025 minus dog
minus dog's picture

And yet people wonder why some people are so bent on destroying the grip of the teacher's unions on the school systems.

Sun, 03/06/2011 - 16:23 | 1024082 Cognitive Dissonance
Cognitive Dissonance's picture

I don't understand. Are you saying the teacher's union determines the curriculum in the classroom? Or are you saying some people are trying to remove any outside influences on the classroom? Or something else?

Sun, 03/06/2011 - 16:46 | 1024148 Things that go bump
Things that go bump's picture

Apparently, the State of Texas, because of its size, determines the curriculum in the classroom, or at least what books are used, not only for Texas, but for the entire country.  

Sun, 03/06/2011 - 20:13 | 1024609 velobabe
velobabe's picture

i noticed that, as well. what if up^ with this governing body. damn the woman are always, BUTCH†

Sun, 03/06/2011 - 16:08 | 1024047 Bay of Pigs
Bay of Pigs's picture

I'm sure Steve LIESman and the CNBS crew are all aware of this and ready to debate its content...

LMAO.

 

Sun, 03/06/2011 - 20:39 | 1024692 akak
akak's picture

Steve LIESman is much too busy constantly kissing Bernanke's ass to be bothered to notice much of anything.

Sun, 03/06/2011 - 16:43 | 1024137 naughtius maximus
naughtius maximus's picture

It might find its way into a classroom under "history".

Sun, 03/06/2011 - 17:53 | 1024314 IQ 145
IQ 145's picture

 No. Field Marshall Goering on being told he would be judged by history, "History! History is written by the winners!" Only a glorious and seamless progression to the "present" wonderfulness will be allowed.

Sun, 03/06/2011 - 19:14 | 1024465 naughtius maximus
naughtius maximus's picture

The winner in this case will the limits of mathmatics. Infinate growth with finate resources will always lose.

Sun, 03/06/2011 - 16:47 | 1024145 ebworthen
ebworthen's picture

 

My 11th grader was telling me last night that they have not read one single book by Orwell...

...not Animal Farm...

...not 1984...

...not even mentioned in his public school education.  He has friends who are Seniors in regular and AP English and...

...ZERO Orwell.

I wonder if they burned the books by him they might have had in the library?

 

Sun, 03/06/2011 - 16:59 | 1024179 New_Meat
New_Meat's picture

and yet, late '60s, early '70s, Animal Farm was all the rage.  Then 1984 and Huxley.

I mutter "four legs good, two legs bad," and get strange looks from my son.

- Ned

Sun, 03/06/2011 - 17:11 | 1024207 Cognitive Dissonance
Cognitive Dissonance's picture

You just like that saying because you're a four legged porker. Talk about bias. :>)

Sun, 03/06/2011 - 17:55 | 1024320 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

An uproar of voices was coming from the farmhouse. They rushed back and looked through the window again. Yes, a violent quarrel was in progress. There were shoutings, bangings on the table, sharp suspicious glances, furious denials.

 

The source of the trouble appeared to be that Napoleon and Mr. Pilkington had each played an ace of spades simultaneously.

 

Twelve voices were shouting in anger, and they were all alike. No question, now, what had happened to the faces of the pigs. The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.

I am a product of South California public education, having graduated it in 2001. They had every English class but the honors read Brave New World in the tenth grade. Honors got to read Animal Farm in ninth grade, at least. Not sure how it is going these days.

Hollywood is about to make Brave New World for theater-going audiences in the near future.

Probably with all their 3D bullshit gimmicks too.

They are also going to re-do They Live.

Not sure how much more in-our-faces with this they can get.

Sun, 03/06/2011 - 20:18 | 1024634 Cognitive Dissonance
Cognitive Dissonance's picture

It's long past the point where people can simply be shown what's really going on and they will understand it and embody it. The programing and conditioning has been so thoroughly assimilated that the average person will rationalize away anything contrary to the world as they have been told it is constructed.

One piece of contrary information in a sea of propaganda and disinformation repeated endlessly day after day just won't penetrate. Sure people understand that's something is wrong. But given the choice between looking into the abyss or allowing yourself to float back into another few hours of mindless bliss, few will choose the path of emotional pain.

Either we begin our own process of deprogramming starting with those around us and our loved ones or we prepare for great dislocation and upheaval. The idea that I see around ZH of buying PMs and filling the storm cellar with the basics and hunkering down is just another form of self delusion. One man cannot withstand an assault from his own community let alone the county, state or nation. Either we begin to educate our communities now or we will be over run by those very same communities.

Sun, 03/06/2011 - 22:28 | 1024988 RockyRacoon
RockyRacoon's picture

Do we have teachers able to explain allegory in the classics?

Sun, 03/06/2011 - 22:44 | 1025035 Cognitive Dissonance
Cognitive Dissonance's picture

We are the only teachers left RR. The buck must stop here with us or it ain't stopping until the elevator crashes at the B4 level.

Going down?

Sun, 03/06/2011 - 23:00 | 1025072 Yen Cross
Yen Cross's picture

Rockie I like you, and your input! Mispell all day long my friend! Lets get wetarded!

Sun, 03/06/2011 - 23:53 | 1025209 RockyRacoon
RockyRacoon's picture

Like my old departed daddy said, if I'm so smart why ain't I rich?

Mon, 03/07/2011 - 00:21 | 1025252 saulysw
saulysw's picture

My first reaction : Probably because he wasn't an asshole.

Mon, 03/07/2011 - 22:49 | 1028371 ebworthen
ebworthen's picture

 

A complete lack of morality and ethics can facilitate the appropriation of wealth from others that posesse them, unfortunately.

Hell on Earth is the reward for the malfeasant; though it does take a little time to present itself.

Mon, 03/07/2011 - 22:41 | 1028361 ebworthen
ebworthen's picture

Allegory?

Is that the gory teen movie where everyone dies sooner or later in an alley with a bright fire that casts shadows?

;-)

Sun, 03/06/2011 - 17:15 | 1024219 Cognitive Dissonance
Cognitive Dissonance's picture

Dup

Sun, 03/06/2011 - 17:54 | 1024318 IQ 145
IQ 145's picture

 11th. graders who can read ? Wow, that's impressive.

Sun, 03/06/2011 - 18:58 | 1024432 LibertyIn2010
LibertyIn2010's picture

Buy Orwell and Huxley paperbacks with cash only...no sense making it easier for Big Brother to know who's educating themselves.

Sun, 03/06/2011 - 20:11 | 1024608 Real Estate Geek
Real Estate Geek's picture

But it was so much easier to have 1984 downloaded to my Kindle.

That's strange . . . now I can't find it. 

;-)

Sun, 03/06/2011 - 15:49 | 1023982 LukeWorm
LukeWorm's picture

... for those who can read.

 

Sun, 03/06/2011 - 15:57 | 1024005 bob_dabolina
bob_dabolina's picture

I thought about that after I commented.

The few who can read won't understand, and the few who understand will know there is nothing that can be done to prevent what we are going to see in the coming years.

In this regard I guess I can understand Bernanke. If he raises rates we are dead, if he prints money we are dead (it will just take longer) All he can really do is have good bed side manner by lying and saying everything is A ok. There is nothing else I can think of to justify his behavior.

Sun, 03/06/2011 - 17:59 | 1024329 IQ 145
IQ 145's picture

 He was appointed Captain of the Titanic.

Sun, 03/06/2011 - 23:03 | 1025079 Yen Cross
Yen Cross's picture

I understand. All is forgiven. Cheers.

Sun, 03/06/2011 - 16:02 | 1024022 Alcoholic Nativ...
Alcoholic Native American's picture

They should make em watch Inside Job too.

 

I remember back in econ 101 we learned how to calculate the GDP by filling in a pre algebra equation with made up numbers.

College is such a fucken racket these days.

Sun, 03/06/2011 - 15:30 | 1023919 gwar5
gwar5's picture

Bernanke XVI has a cake index that is off the charts.

Sun, 03/06/2011 - 15:29 | 1023921 Spitzer
Spitzer's picture

One thing that allot of inflationists even get wrong is that SOME ASSET PRICES FALL DURING HYPERIFLATION.

House prices will fall from 3 or 400,000 to 50 or 60,000 because people will sell anything to get money to buy essentials like food and energy. Its not like everyone is a neighbourhood short on essentials can just sell their 400,000 dollar house and buy all the gas and food they want, it doesn't work that way.

Cars, motorcycles, boats, motorhomes, houses, TVs, cloths, pretty much every non esenctial thing will fall in value during a hyperinflation.

 

Sun, 03/06/2011 - 15:36 | 1023934 uno
uno's picture

also crime will go exponential

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