[quote=partypup]Re-reading these comments…I think there are going to be a lot or people who are going to get the living daylights slapped out of them when this s**t blows up.
Like 9/11, no one will see it coming. And once it happens, everyone will say the same thing they did on 9/12: we were so exposed, the signs and clues were all around us, but we just ignored it because we thought something like that could never happen HERE. That’s a black swan. I think the mother of all black swans is upon us.
We will most definitely be returning to this thread in the Fall…[/quote]
Totally agree with you, partypup.
FWIW, I watch CNBC in the wee hours of the morning because the overseas anchors seem to be more honest, and there is less of a cheerleading atmosphere in the hours before the west coast wakes up. Anyway, they were honestly talking about the dollar losing its reserve status. It gave me chills, because there wasn’t any of the usual joking around like they sometimes do when discussing China’s constant threats and harassment regarding the dollar. It actually seemed as though people were beginning to take things seriously, and it was the first time I’ve seen something like that.
Also, for the “USD crisis” naysayers: we have held a basket of foreign currencies and bonds for some years now. They just touched their high water mark, just as gold has done. China is sitting on excess commodities. Think hard about your long-dollar beliefs, and ask yourself why foreigners would be holding/buying our currency when we are printing money like mad, and our consumers are tapped-out.
