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"The Train Wreck Is Coming," David Stockman Warns, "All Hell Will Break Loose"
Submitted by David Stockman via Contra Corner blog,
Transcript of David Stockman Interview on King World News
Eric King: “David, the man who is counsel to big money around the world, Michael Belkin, just spoke with KWN and issued a dire warning for the financial markets. I just wondered how you see things at this point with the Dow recently tumbling and everything that is happening across the globe? What should we expect?”
Stockman: “Well, the watchword at this point is stay out of harm’s way. We are headed into a perfect storm of policy failures. This is not simply a failure by the Fed, which has inflated this massive bubble and painted itself into a corner with no clue how to get out, but we are also seeing an absolute failure of American world dominance….
Our foreign policy is collapsing everywhere and yet the Washington war party keeps wanting to do more of the same. This confrontation with Putin is utterly out of hand and unnecessary. Now we have a trade war going that is going to ricochet through an already fragile European economy.
We hear today that Obama is considering going back into Iraq. What is he thinking? If you layer that on top of an already fragile financial bubble that is waiting to burst, I think we are in a zone of extreme danger. It’s hard to predict whether this will be the big, destructive bear market that inevitably has to come, or simply just another dip that encourages the robots and the trained seals on Wall Street to buy for another move higher. But one of these times we are going to have a big failure and I don’t think it’s too far down the road.
If you look at the stock market it has gone nearly straight up for the last 64 months. If you look at the chart of the S&P 500 you can see that year after year the dips get shallower and more infrequent and that is not a healthy chart. That is a sign of a market that is not discounting the actual real world future, but simply trading the word clouds and the liquidity that is being injected by not only our central bank, but central banks around the world.
The difficulty is that I don’t believe this central bank ‘act’ can be kept up. We have had such tremendous expansions of balance sheets that even the central bankers are now beginning to second guess themselves, become divided among themselves, and begin to worry about how they get out of the corner they have painted themselves into.
So those are the factors that will ultimately cause a major collapse. It’s just a question of when the black swan comes flying in, or when the confidence in this whole central banking illusion finally breaks down in the markets.”
Eric King: “Michael Belkin also told KWN that the Fed doesn’t understand the leverage they have created. Their easy money policy and money printing funnels into all kinds of hedge funds in mid-town Manhattan and according to Belkin, ‘they leverage up the wazoo in al these weird, arcane derivatives.’ He warned a great deleveraging is coming that is going to feed on itself.”
Stockman: “Yes. I think the whole global financial system is booby trapped with both visible and hidden leverage. The problem with the Fed, and Yellen in particular, is that they are looking at a very narrow set of indicators. For instance, the nominal balance sheets of the big banks.
But the biggest source of leverage in the economy today is the whole area of structured finance and options trading of one type or another. These Wall Street mechanisms are inherently leveraged; and the market has been coiled up like a spring everywhere owing to the endless bid funded by that massive leverage. Well, on the way up this forces assets values to continue to inflate and rise. But on the way down, when these positions are liquidated, the adjustment can become very violent in the other direction.”
Eric King: “It sounds like we have a train wreck in front of us.”
Stockman: “Train wreck is a pretty good term to describe what is coming. But this train wreck isn’t simply going to hit a wall out of the blue. Actually, it has been forming and accumulating and expanding for many years now, and yet it has simply been ignored, particularly by the financial markets which have ridden this bubble to these extreme and historic heights.
But when you take the balance sheet of the Fed from $900 billion to $4.5 trillion in less than 70 months, and when that pattern is replicated around the world, that is a train wreck in slow motion. The only issue is, when does it hit the wall? The answer to that question is it’s not very far down the road, and I can promise you that is when all hell is going to break loose.”
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when this train wrecks , lotsa "folks" gonna get hurt
not just that, but gold and silver will go to the moon tomorrow. I know this because king world news has told me so every day for the past 3 years...
Ha! Waiting for my lottery ticket too.
Doom is always 6 months away
one day one of these "experts" will be right
in the mean time prep & enjoy life
keep all the babble in perspective
I now return you to your regularly scheduled program
David Stockman writes:
Yes, yes, testify brother!
David Stockman writes:
"This is not simply a failure by the Fed..."
Yes, yes, we have a conundrum here, don't we?
drought in california, fukushima, ukraine, iraq, ebola, fracking, chem trails, gmo food, emf polution, the pacific gyre, ndaa, cops on steroids, nancy pelosi...derivatives are the least of our problem
https://www.youtube.com/watch?v=eFTLKWw542g
Agreed. Pelosi's sagging face and senility is a growing black mark on all Italian women worldwide.
Billy Joel sucks. Here is Joe and the boys-
https://www.youtube.com/watch?v=ga4wASz39Fc
Slight addition to your thoughts TahoeBilly2012 - Pelosi's sagging face and increasingly obvious senility are characteristic of over-privileged rich bitches worldwide who think their husband's bankroll means that their shit doesn't stink and everyone else's does.
all of these "experts" saw the light as soon as Obama came into office ... before that all was okay ... not a problem ... right, i believe you just show me another chart or computer program predicting it.
I already ordered my Dow 1000 train wreck hat.... First one that I know of..
I've got Kyle Bass on speed dial...
All Hell Breaks Loose In 2014
no silly, 2015, septemberish. in the meantime, stockman doesnt actually reveal anything does he. surface, and with "stupidity" used as a factor. sheesh, -stupid- is such a tactic, wonderful, blame -dumb- in stead of finding reasons.
There is no train coming. Oh wait....
https://www.youtube.com/watch?v=w612s5faYtE
Stockman's correct. Seventeen thousand is about as high as the DOW is gonna get. We won't have to wait long. Bitchez.
DOW to $20k, and then DOW/GOLD/BTC = 1
Nice of him to affirm what we've seen coming here on ZH for the last 3 years or more. Timing is everything. What we saw last week with the DJIA is just a foretaste. We all know this could just as easily run up to 20,000 before it bursts. Crap shoot at best. One thing he's right about is it could be 'hellish' for many. All the governments are broke.
Chugga-chugga-chugga-woo!woo!
Yellen shoveling coal into the boiler, pulling the wihistle chain.
"Next stop...Paradise City!"
AmericanSpirit > She looks like a lot of American's I see today...walking around half-dead (skin falling off) + full-brain dead from GMO's, Pharma and Flouride, not mention the devil that eats from inside. I am thankful I have not had a single pharma product in 20 years.
I used to think Keith Richards was proof man could survive anything, but now I see I was wrong, it was slow chemical warfare and satan that kills
I don't think Billy Joel sucks that bad.
Attila!
https://www.youtube.com/watch?v=AhRv3QjaiA8
Maybe just the later stuff...
Don't be a wooss sleigher. I LOVE BILLY JOEL! HE KNOWS WHO HE IS AND DOESN'T PRETEND TO BE ANYTHING ELSE.
"Man looks up at a yellow sky and the rain turns to rust in his eye. Rumors of his health are lies. He steals from me and he lies to you."
Old England is dying....Still he sings an Empire song, he keeps his Navy strong, and he sticks his flag where it ill belong"
Waterboys...take the liberty of changing Old England to Uncle Sam....
https://www.youtube.com/watch?v=Qwpz8snYCw8
You forgot to mention 2008.
Será muito interessante assistir o Federal Reserve Bank declarar num Tribunal que não irá pagar aos "fundos abutres" da China, como Argentina fez.
Kkkkkkkkkkkkkk!
Parece nos precisamos zerohedge.com.br meu irmão! Bem vindo
tudo e legal
Floripa tem mi coracao
Usted puede descubir que China posee gran parte de FRB.
You may discover that China already owns large part of FRB.
EDIT: They already access the Treasury directly. At zerohedge.
http://www.zerohedge.com/news/china-can-now-monetize-us-debt-directly
moved
jbvtme,
Try this, as our real problem:
The Long Descent: The End of the Industrial AgeAll Four Wheels Come Off The Anglo-American Juggernaut
We are out of bubbles and oxygen this time. GW Bush - "This sucker is going down". No shit sherlock, how presidential.
Yes...along with the rest of the Trans-Atlantic Economic system + Japan. Germany's at the exit door trying to get out as I read this.
BRICS "Resource Producers" 2
London "Wall Streeters" - 0
wanna bet on the outcome ?
in reply to :
One of these days they'll be wrong and it won't be six months away any more, it willl be a today ! !
And meanwhile, get off my lawn !!
Sorry, it's easy to get snarky about the steadfast prophets of doom-that-never-quite-comes.
The more wrong doomers appear to be, the more right they will eventually be. Then the several years they have been banging the drum will seem like a flash in the pan. Have you ever been in excruciating pain, one minute feels like one hour. All the cynicism about these never ending calls of collapse will be instantly converted into howls of anguish of how could this happen and when is it going to stop. If you are cynical and frustrated now when there is at least a facade of normality, wait till you have endured the same period of time in chaos. One day, very soon, we will wake to news that will leave us frozen with fear.
One day, very soon, we will wake to news that will leave us frozen with fear.
And you can take that to the bank...
Obozzo will sell Lucky into slavery.
I'm still waiting with with Didi and Gogo.
Doom is always 6 months away until it happened yesterday.
Well, on the way up this forces assets values to continue to inflate and rise. But on the way down, when these positions are liquidated, the adjustment can become very violent in the other direction.”
Gold miners?
... and Simon whats-his-name
"... and Simon whats-his-name"
Simon Black thinks that the Maidan riots were exclusively the work of freedom loving patriots living in Kiev. They took control of their government and all is well. Bless them.
Won't be listening to any more of his otherwise interesting and well executed podcasts for a while, without my bullshit filter on 10 of course.
Didn't Simon have a piece talking about the inexpensive apartment he rented and the great business opportunities to be had in Kiev a year or two back?
Simon's problem, put simply, is that doesn't know what he doesn't know.
I am a paid-up Simon subscriber, but would never accept anything he says as being reliable, until confirmed by otherr sources.
If you don't like the messenger, discount him, but listen to the message.
Just look at the S&P.....
Have you ever seen that line in your investing life?
http://finviz.com/futures_charts.ashx?t=FC&p=w1
yes
Variations of the same line. Free Money looking for a home, not evaluating risk; gauging investments...
Maybe try another time, since the great depression, or even the WWII.
RaceToTheBottom,
You said: "... Money looking for a home...."
Are you sure this is real money?
That's easy to answer:
Water, food and gas.
Where are:
BRICS!
hehe.
The software program called it money, it is buying stocks....
Not to get it into a definitional game, it is stock buying that would not have occurred without QE to infinity and beyond....
Very true....I think what people get sick and tired of, however, are the constant "death and destruction right around the corner" calls.
Yes, we all know how this must end. Yet we all keep making absolute fools of ourselves attempting to predict the timing, even so vaguely as saying "anyday now, sometime soon, in the near future, methinks...."
What do you expect, 100% of people sounding like Steve Liesman. There'd mass suicide under such circumstances. These doomsdayers play an invaluable role at keeping people out of the casino. Try and think beyond the present to the time this shit does collapse.
No and what goes up must come down thats the theory anyways but only 4.5 trillion why not 20 trillion
Patience grasshopper, and don't forget to pack some bitcoin with that gold.
Nah, leave the PMs for the suckers... like me. You are far better off with assets that have been rehypothecated a hundred times over, that is where the real money is.
That said, you are correct about metals hype. So long as the music plays fundamentals of any kind are meaningless. When it stops it may not matter what you have done with your money.
But I remain stubbornly on the sidelines. If there is still a world to be had folks will need food, and money... Real money, after the shysters have been forced to retire their shells, and the pea stands at last in the open for all to see.
Talk about mixed metaphors... screw it, I am having a lazy morning.
Gold and silver, gold and silver... blah, blah, blah... I purchased a pile of silver at $34, it went up, down, sideways and then down again. Instead I invested in some tools later and by using them I made 1000% a year return on my investment. If/when the SHTF, people will need tools more than gold and silver due to utility and necessity. Sure tools require effort and skill to use but that's a better bet than waiting for PMs to "go to the moon."
PM's are not an investment, they are insurance against the exact sort of thing taking place around the world today, monetary policy instability... Would you rather have $10,000 in fiat paper or PM's as savings? I know I prefer PM's for security and since there is practically zero return on low risk assets today... Having markettable skills is also imperative as you point out... That's how you move forward after the lights go out, but PM's are insurance to preserve your wealth when the fiat currencies go tits up...
The moment someone says PM's "to da moon" you know they have no idea what they are talking about. For the last time, PM's don't go "to da moon", fiat goes to the depths of hell. PM's don't do anything, they just sit there retaining exactly the same value they have always had. You PM owners who expect to sell gold when it supposedly hits $10,000.00 an ounce are so stupid you deserve to be relieved or your wealth. Just when fiat is telling you it is worthless, it will be the time you exchange your PM's for it. Silly human beings will never learn.
And what do you propose someone with $100,000 and 10+ years to retirement do. Buy tools? Please. Gold and silver will resume their place soon. It's only been 3 years and central banks have exhausted their supplies in keeping the price down during that time.
Gold and silver could double tomorow and i would not sell one single ounce.
I would...to retire debt denominated in dollars.
.."I would...to retire debt denominated in dollars".
..would it matter if you couldn't be certain you could ever buy it back just to play the arbitrage one more time?
I suppose it defines those who play for speculation and those who look at it as insurance.
Think you need to see this a a very personal decision. It is not arbitrage if you apply a portion of bullion you have see-sawed on for (in my case decades). I take a few oz. and pay down/eliminate debt in increasingly worthless paper. That is not an arbitrage game. Just trying to apply a bit of smarts to the inevitable.
if it doubles, then true inflation has set in...don't sell to retire debt until ALL inflation has been discounted. you may then be able to retire your debt for 1/100th less physical than after the initial doubling....
KWN is a bit of satire offering 'cliff' like scenarios and its contributors are likely to eventually get it right.
Or maybe not, what if the FED can print unlimted amounts of money with no consiquences.
Or maybe not, what if the FED can print unlimted amounts of money with no consiquences (sic)?.
What if the sky were orange, the plants were violet, and Unicorns actually shit Skittles?
King World "News"
Is mental masturbation. Period.
I own some metals,however, I don't think what you are saying is true. Usually in a serious downturn or crash metals are sold along with everything else that gets a bid. In the crash few things receive a bid as we saw recently. Gold and silver will be bid long after the crash when people seek the safety of other trading instruments. Why this crash would be any different than history I can't imagine.
You can bet some weak hands are going to be forced to toss some ballast in the first stages of a melt down, save some powder guys.. Au. will probably test 1K before it does 2K.
Landrew
the difference this time is that 'gold' is not a metal. Now 'gold' is (at a ratio of 99:1) paper.
Those who see a crash coming will sell their paper so they can buy real physical gold. The problem will be that this action will drive the price below that which any sane person would sell their real gold. When the price drops there will be no physical available. Better get physical now.
That's what happens in the beginning, but then it rises up as it switches from a liquid risk asset to an insurance/reserve asset.
If you look at the crash of '08, that's exactly the pattern gold moved in. It dumped in the month before and week of Lehman, and then climbed and set new record highs for the next three years until the Fed and other CBs decided they needed to suppress it due to making them look bad.
It will be the same again, except supression won't work anymore. God knows that will be a sight to see, I just hope I live to see it -- these guys are good at the long game.
EXACTLY. sitting on dry powder waiting for that exact moment when things start deleveraging...PMs will follow all other assets at first...but you will need to move quick. just saying.
While I agree with much of what is said, KWN is not a great source of news
This will turn the world on its side...
I think I've seen that similar headline 10x over last few years.
not just that, but gold and silver will go to the moon tomorrow. I know this because king world news has told me so every day for the past 3 years...
With all due respect here, Yup KWN and many others have been advocating bullion ownership for years. And I think they have been right for years. I humbly ask what alternative you suggest to preserve any financial assets you may have?
Art? Collector cars? High end real estate? farmland? cash for use as toilet paper? heritage seeds? food? Got any suggestions of where to put any monetary asset other than bullion? And yes we got bitcoin.
Gold, Women and sheep:
Prescott Financial
http://videosift.com/video/Prescott-Financial-Sells-Gold-Women-Sheep
We are observing nothing more than a grand "kick the can down the road" scheme. All roads come to an end........
Agreed on the kick the can down the road theorey .but at this point,
We are standing on top of mount everest kicking the can straight up in the air!
Racetracks don't.
no because OBunga says we're in a recovery... and the stock market went up on friday and Because...
Oh please ZH! Quoting the National Enquirer for gold bugs, King World News, now...?
Every other headline is "catastophe imminent!!!" for years now. Have you sunk so low? What's next?
ZH won't give you the same 'truth' your advisor, broker, or manager will. Of course, I am just an alarmist, as my family likes to point out. But then I laugh after every annuity purchase their "wealth management" advisor pushes. Yes, I tell them, this time is different. Everything will be alright. Except I know it won't be and I am just 'noise' to them. ZH is an oasis.
I am meeting a financial advisor tomorrow who wants me to put $100k in a variable annuity stating its perfectly safe as insurance companies are not banks. The shares will be invested in "mirror" accounts that exactly track the actual stock you think you own. This is not a derivitive he says. Is "just like" owning a stock but its through a complex set of accounts that will outperform the actual underlying stock.
Really? Sounds like a pile of bullshit that pays a $10k commission to me. I don't think he gives a shit what happens after he gets paid.
Maybe $100k in gold and silver is a better choice. Any advisors out there?
Real estate is a better buy than gold or silver IMHO. Now is a good time to talk anyone down on land because the realestate markets are in a huge slump. Any sticker price can be reduced 20% in this current
fear mongering market. All holders of real estate that are selling in this market are near to desperate. Wait until October and mortgage rates will be way down and sellers will be that much more desperate to unload for the cash to survive waht is about to happen. The warnings are necessary and should be listen to. Gold and silver are rigged BIG time.
It would be nice if you were right, however, in a crash NOTHING gets bid as with gold, silver, equities, long bonds at any risk level. Cash is the only holder of value when there are no bids. Real estate was a buy in 2009/11 when banks would not lend and cash or the best low debt credit could still buy. Those are the times Jesse Livermore, Morgan and others spoke of in times of panic. Cash can buy at rates of 10% of previous value. Jesse, wrote a wonderful little red book about his trading. The trick is to be in cash before the crash, very hard to do. I make my point, I bought the home I live in now having sold into the 2007 mania, I paid 120k under the 07 last purchased. Today it is only 30k higher in value, far less than I thought it would be today.
IMHO, very rarely are annuities worded to benignly favour the intended beneficiary. I would strongly suggest, informally, that you designate a qualified investment advisor with a legal degree and license in your particular jurisdiction to assist you. From my understanding, there are a rarefied slice of annuities actually worth investigating. Your mileage may vary, and this comment is not in any way, shape, or form, to be construed as investment advice.
In your shoes i would mix equal parts VYM, VIG and whatever Fonz says.
take $50k, borrow $500k with it (this is bank rational, right) and buy PMs.
take the other $50k, borrow $500k with it and invest in real estate (your choice, slum houses in detroit, farm land with rental income, etc).
or the other 2 options (which are exactly the same) are to buy $100k in stocks, or take $100k to the lottery/casino and let it run. either way, the outcome is the same.
I own and continue to accumulate gold, but I take Eric King's 'redictions' with a large pinch of salt. His website and his stoned voice are simply too stupid for words, but I'm not surprised that the usual nutcases fall for his bullshit.
Of course David Stockman has a book to plug and all those PM sellers have gold to sell, so the ideal platform is KWN. Don't forget, everybody has an agenda...
I'm sceptical of TPTB and MSM, but also I'm also sceptical of the scaremongers who cry wolf multiple times per day. Get a fucking life! You only live onces, enjoy life and don't forget to get out of your 'prepper bunker' once in a while and live life!
p.s. WHO the fuck is this Eric King anyways? He sounds like a goldbug stooge to me. Nothing is known about him.
"WHO the fuck is this Eric King anyways?"
I don't think he is anyone but a guy who has a canival voice and inflection and a pretty cool name. I doubt thats his real name.
I just found out that Bruno Mars real name is Peter Hernandez.
Geeze!!
ZH clearly is not in the investment biz, and neither is Stockman. Stockman has been saying the same thing for some time prior to plugging his book. ZH and King have its biases, of course, so what? Stand for what you believe in, or as the adage goes, you may fall for anything else. Listen to your gut, not the labels. I believe in ZH, because I mostly agree with its particular biases. But to each his own. Even if you might differ with ZH on certain points, overall, ZH intuitively hits the bull's eye of what is right. I really believe in ZH, were it to vanish, we would be royally dead.
Nobody is twisting your arm to listen to Eric King.
Nobody is holding a gun to your head to read David Stockman.
You write, "Don't forget, everybody has an agenda.."
What is yours and what are you selling?
If people want to read David Stockman then I have no problem with it.
If people want to listen to King World News then I have no problem with that.
But I do have a problem with you, someone who I do not know, telling me to, "Get a fucking life!", and, "...to get out of my 'prepper bunker' once in a while and live life!"
Who are you?
You sound like an Establishment Stooge to me. ..a shill, a mouthpiece, a spokesperson, if not a troll.
Nothing is known about you.
There will be no way on God's green Earth that I will ever invest into the FRAUD and DECEPTION that has become Wall Street and the US Government.
Gold is the very best way of OPTING OUT.
So...Go and autofellate you spineless shill...since you can.
.."Every other headline is "catastrophe imminent!!!" for years now. Have you sunk so low? What's next?"..
..ebola?
With the ultimate Mulatto Swan in the 18 hole Oval Office it just means there are limitless possibilities..
I think you meant to say *Oral Office*...or, maybe *Oral Orifice*.
As always, think:
1. Diversification and Asset Allocation
2. Beware of perma-bears as much as perma-bulls.
3. Salesmen have an angle and a biz model.
Hedge, plan and invest accordingly.
This all sounds a little alarmist in my opinion. But if it proves true, then there's little doubt the common man and woman (and the poorest among them in particular) will be hit the hardest. As they always are.
If you work an honest job, you are becoming a minority.
The State exists on Taxes (and printed out of air debt coupons).
You are paid in debt coupons.
See the circular logic of it all?
So that makes the "honest job" a "Debt Coupon Job", right?
Demand you get paid in "Money".
All you'll get is 0's and 1's ~ OR ~ Debt Coupons.
Don't follow you!
Money (dollar, Euro) is median of exchange.
Currency (say a gram of gold, wheat) is the median of weight.
No intrinsic value.
Not hard to understand you are paid for an honest days work with something that has no intrinsic value.
Ponzinomics.
So, how about digital-currency, Bitcoin?
I have a stack of silver certificates that I'd like to trade one for one.
BTC is still 0's and 1's, nothing new and no intrinsic value.
(gotta go play elsewhere, seeya)
Saw the circular logic of it all in High School.
Thought I was being stupid. Huh, turns out I wasn't. Go figure.
David Stockman, new xcehn, Eirik Magnus Larssen,
Tell us someting that we don't know!
2020 give or take.
By then the confluence of Peak Cheap Energy (Shale or"Tight" oil will have peaked by 2020), Peak Old Farts retiring and sucking the system dry, Peak Illegal Alien Wage Suppression, Peak Technology Wage Suppression (think automation, robots,), Peak Debt, Peak Ponzi, Peak Global Wage Arbitrage, Peak Ebola or Pandemic du jour, Peak Government Corruption, Peak Wall Street, Peak Fed.....
Oh yeah.....Peak Pensions.....forgot about that.
All of these are going to converge by 2020 give or take 5 years.
So......2015-2025.
Hedge accordingly. Stack and rack metals, Stack and rack ammo. Stack and rack Solar Cells to at least cut your power bill and keep the hot water running and the lights on. Better to go off grid if you can. And most importantly of all .....learn to grow and prepare your own food.
City dwellers and the lazy amongst us......( or those with piss poor soil ) try this.
http://earthbox.com/
Or if you are cheap like me try these D.I.Y models.
http://www.youtube.com/watch?v=5bhW5hf09ak
http://www.youtube.com/watch?v=-F7CMU3hYxE
http://www.youtube.com/watch?v=hIqssok6iXI
"You will fail as a rugged individual, but you will survive as a member of a tribe or a family."
-Michael C Ruppert https://www.youtube.com/watch?v=rdO2Xh51Q-U
R.I.P. Mike.
Even he was so despondent over what had happened to him....and what was coming.....that even with that family, he killed himself.
Sometimes failure is an option. Sometimes the only option. You just have to stay true to yourself the best way you know how.....and prepare for the consequences. Even if that is death. Death is the only freedom. Either you go into the ground and that's it. Or you go to your belief systems's version of Paradise.
Either way......you no longer are bothered by Prison Planet and its Rulers.
This is the last part of the last documentary on Mike. Hard to watch as you see how broken he has become since the release of his documentary "Collapse"
http://www.youtube.com/watch?v=kBwH0_EP5zo
The last scene of him waving goodbye as someone films him from a drone is very poignant and sad.
Here is Collapse in its entirety.
http://www.youtube.com/watch?v=IVd-zAXACrU
Johnny Cash saw the train comin...
https://www.youtube.com/watch?v=bDktBZzQIiU
Cue the Jethro Tull....
https://www.youtube.com/watch?v=yJkmHQ2q--I
Tune in next week, to "Dancing With the Stars"!
Most will not wake up until they're starving.
Train wreck jokes....lets get it over with:
With a face that could stop a locomotive, Yellen was the perfect man for the job.
/got nuthin'
"Hair, teeth, and eyeballs all over the right-of-way"
Not a joke, just how wrecks used to be described in the steam engine days.
if i had a dollar for every doom prediciton.....
The one who lucks out with their guess of which spark light the fire will be ordained the prophet. Let me put in my ticket as Nov 17th 2014 as the date, reason? animal spirits become disheartened the night before. In the meantime it's pretty obvious to anyone that the economic forest is tinder dry and going to catch fire before any rains come.
Funny, thats what people used to say just before the housing market collapsed.
You'd have lots of bits of paper.
I'd buy Stockman's book, but why does the Kindle digital download cost more than print edition ($18.99 vs. $14.00)? I just get annoyed with some of these talking heads charging so much for their wares, even if what they have to say is good. I feel the same way with Celente ($225/year), Fitts ($275/year), and Chris Martenson ($300/year). And don't get me started on Doug Casey's fees. If the masses need to wake up, we need to get the pricing down to affordable levels.
Good for you...they have all lost their asses.
Fitts believes the "elites" (that is being polite) have amassed more power and control and resources than they had prior to 2008. The strings can be pulled very hard. The people are cowed, and the enforcers are blind to how they are being used (the paycheck helps...). Via financial repression (including capital controls, bail ins, etc.), accounting fraud, blackmail, propaganda, and threats of violence, the "show" can go on for quite a long time. At least, this notion of "slow burn" and continued degradation of the average person's quality of life across the planet is a possibility, and COULD be more likely than some crisis that shocks people into action. By the time people finally understand what is happening, they'll be dying of cancer viruses, GMO, chemtrailing, etc. and the corporate media propaganda telling us that we're on the right path will be louder than it ever was. Having 3/4 of the Western world on psychotropic medications could help sustain the status quo, too.
I continue to buy precious metals, but I have no idea when fundamentals will matter. I take the longterm view in my personal life as well. The sun comes up each day, I take a walk, I buy a silver eagle or two, I chat with my neighbors, and the DC controlled media can go fuck itself.
HFIdiot,
Did you pay $275 dollars for the first paragraph?
Yep. I think I got a free silver coin as a "gift" though. :)
Well, you did the expected thing.
Now, you will have to improve it by going back.... to 1783
Ham you should have a web site with a tip cup. I'd buy your advice for a dollar through paypal ; )
Jumbotron - I consider myself intelligent, but that doesn't mean I "know" what I am talking about. :) I refer you to the experts I cite, and you can add Kyle Bass and other luminaries that ZH gives a platform to here. I wouldn't want to charge for my words. I enjoy my time at ZeroHedge very much. I've been censored too often at HuffingtonPost, Infowars, and Common Dreams -- places I used to post at fairly often under different handles. I am surprised at how liberal the ZH Tylers are. For 95% of the sites out there, any mention of 9/11 or Zionist or Geoengineering will get you kicked out. I hope this site lasts. It is very good to have you a part of the community here. Cheers!
Welcome to Thought Crime Identification Site #1. Please tell us what you really think.
Censored at HuffPo? You don't say.....I thought it was an open minded community that appreciates all world views and not just that of the namesake.
Que a bunch of down arrows from the paid trolls in 3...2...1...
I got a full dose of censorship back in 2008 during the run up to the elections. All the "liberal" sites meticulously scrubbed their boards of anything positive toward Ron Paul or third party. Can't risk a splintering of the herd. There was a large contingent of posters who were not happy with the democrats and were leaning toward Ron Paul and we got squashed. That was at Commondreams.org, although I might have tried to express pro-Paul sentiment at HuffPo at the time and got removed, as well. The Democratic/fascist machinery was in high gear at the time.
You actually pay for this crap? Might as well read the bible and "Revelation". Same fictional entertainment value. Then again, everyone needs to make a living somehow. Keep paying!
I really like what Martenson is doing. He tries to make a lot of his work open source, unlike many of the other "experts" out there. I'd rather that he or Fitts charged $99 per year. But compare that to the the $150 million given to MSNBC as part of the 2008 bail out. Or the sweet national advertising contracts given to corporate media that only parrots Washington talking points. Washington takes our money and then uses it to propagandize via its "trusted" presstitute outlets. The alternative media NEEDS revenue. I don't have a problem with that. Martenson, Fitts, Celente, Casey, and Eric King are all smart people with a good network of advisors. I do think I am more financially educated through my exposure to them; and more importantly, I have a better moral understanding of economics and how capitalism should work. You can put Ron Paul on my list, too, whose books I buy, even if he uses ghost riders much of the time. But you're right, there were few out there calling the tops in the PM prices these past few years. I am not a sophisticated day trader. I take a ten or twenty year view of things. Provided you work hard and have a stable income stream, that is not a bad way to go. It helps with sleep. I've known two traders and they both had heart problems because of market gyrations.
new HamFistedIdiot
Voodoo Economics! That's why the two traders had heart problems.
google "stockman deformation pdf" I think they have it for free at the Mises Inst
Mises has the book review, not the complete book, to get a free audio edition go to the famous Scandinavian site flying the jolly rogers flag!
PS: upon further research, an eBook is available from the same site listed above
Funny is also that "Dr doom gloom and boom" Marc Faber chanrges Dollars for his DGD report, in which he constantly predicts....the imminent collapse of the USD.
Save the money if you have read one you read them all. I believe all just to sell a book.only the top fuckheads know when we all know why
obviously but when
As I sit and listen to the machine guns barking in the background, soon. These aren't the typical police with their MP9s or select fire M4s, these are heavier caliber with a slower rate of fire. First time I've heard them here.
And you are where?
SAW mk 48 are sweet.
I'd give up an eagle for one.
TheReplacement, are you around the D.C. Beltway?
< train going off rails soon
< not even close to 'full retard' yet
What are some good indicators of "full retard"?
Obola gets a second Nobel piss prize
I'd say all of the above, individually, would be considered 'highly retart', but combined, they are 100% FULL RETARD!
I can't wait to watch the Cubs games, and the televised anal pounding Moochellle gives Barry! (During the 7th Inning STRETCH!)
Now that's full retard.