[quote=190pounds]Who else agrees it isn’t going to get as bad as partypup thinks?
partypup, I’ve read your threads and you are obviously pretty smart, but I sense you are overly paranoid.[/quote]
190pounds: you may be right. I think you’re wrong. We will see.
However, you might be interested in knowing that both Paul Volcker and George Soros – who initially thought that “doomers” like me were being paranoid – have now come to see the crisis for what it is: worse than the Great Depression.
“The global economy may be deteriorating even faster than it did during the Great Depression, Paul Volcker, a top adviser to President Barack Obama, said on Friday.”
“Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.”
Keep in mind: when I started posting, the Dow was about 4,000 points higher (at least), and 30,000-50,000 people were losing their jobs nationwide each month. The Dow has now plunged to its 1997 levels, and we are seeing 600,000+ people being thrown out of jobs each month. The employment crash is clearly gaining momentum, as it begins to feed upon itself.
Let’s examine the definition of “paranoid” for a moment thought, shall we?
para·noid (par′ə no̵id′)
adjective
of or like paranoia
characterized by extreme suspiciousness, grandiose delusions, or delusions of persecution
Now, what is more “delusional”: (a) to believe that a country and a world where capital markets are plunging, employment is hemorrhaging, and trillions of dollars of debt are being heaped upon the backs of taxpayers on an almost monthly basis can continue without profound and systemic disruption, or (b) to accept and prepare for the likelihood that systemic collapse is growing more likely every day?
You tell me. And send a note to Volcker and Soros 😉
