October 4, 2007 at 5:49 PM #10502LookoutBelowParticipant
Required reading for the Piggingtonians…..Its short and VERY descriptiveOctober 4, 2007 at 6:36 PM #87021stockstradrParticipant
Thank you for posting link. Yes, it is a brilliant article.October 4, 2007 at 7:06 PM #87024patientrenterParticipant
It’s an apocalyptic article, saying foreigners have lost faith in US financial investments because they feel misled by sub-prime mortgage hucksters.
If true, it’s hard to explain how come long Treasury yields are still very low. (10T today was about 4.5%.)
I think it’s a prediction of what will happen, not a description of what has happened, as it purports.
Patient renter in OCOctober 4, 2007 at 7:15 PM #87025kewpParticipant
Yes, excellent article.
Any comments from the peanut gallery as to what the future will bring? I’m starting to feel like the world is gonna look at the America as the United States of Enron.October 4, 2007 at 7:45 PM #87027
Yes, excellent article.
Pabulum. “Copyright © 2007 Philadelphia Church of God, All Rights Reserved.”October 4, 2007 at 7:57 PM #87031kewpParticipant
Gazooks! I’ve been hoodwinked!
Talk about a confirmation bias.
Or maybe I’m suffering from the Dunning/Kruger effect:October 4, 2007 at 8:12 PM #87032NotCrankyParticipant
NSR do you think this “pablum” is recruitment and mind control propaganda , by the church, of the paranoid well to do? I mean they have to attract a portion of the well to do somehow.
“The world is approaching an end of an era. America’s moral collapse now lies exposed to all—a virtual death sentence to an economic system based on trust. Confidence lost….”
Gee.. I better march down in my paranoia and tin foil hat and see if I can affilitate with this church that is so up on the ruin of the system I live in. I might need them.October 4, 2007 at 8:22 PM #87033bsrsharmaParticipant
Excellent article. Amazing for a Church publication, that too an unknown denomination. (I read it earlier, liked it, but hesitated to link/post on seeing that Copyright … God )
I saw that link on the Church; can’t seem to understand what it stands for or any distinct doctrineOctober 4, 2007 at 8:25 PM #87034
I mean they have to attract a portion of the well to do somehow.
Do they? Didn’t Jerry, Jimmy and Robert do well collecting their tithes from little old ladies social security checks?
Maybe we should cruise over the mega church over in Saddleback and ‘experience’ the opiate they’re pushing. I think they take credit cards for donations.October 4, 2007 at 8:30 PM #87035larrylujackParticipant
another sky is falling missive due to supposed “immorality.” Not much of a shock coming from a bible thumper website, although the confidence issue raised I would say does have some merit.
its not a moral issue at all but actually a normal function and one of the great wonders of so-called free market US style capitalism, namely to run amok to extremes to take advantage of some new ways of making cash, and then we get the inevitable correction perhaps with a partial bailout of wall street and bankers via lower interest rates, and press repeat (remember the S and L fraud and subsequent bailout, like I said, press repeat).
those who forget history tend to repeat it………..
LLOctober 4, 2007 at 8:50 PM #87036NotCrankyParticipant
“poets,priest and politicans
have words to thank for their positions
words that scream for your submission
and no ones jamming their transmissions.
and when their eloquence escapes you
their logic wraps you up and takes you.”
Something like that,
I have not heard this song by the Police in 20 years, I could be off a little on the words :).
20 years later we can add a lot of “positions” to the lyrics.October 4, 2007 at 9:20 PM #87037VoZangreParticipant
Well, well, well…
I wouldnt so easily dismiss some of the more pertinent themes of the article… as mere bible thumping…
the fact that Moody’s and S/P were compromised and issued bullshit ratings so the banks could clear their books…
dirty pool. period.
Now, I am not willing to say that unfettered greed and desire to make money, live life of luxury, without doing any real work is particularly American…
but… folks in these parts seem perty good at it…October 4, 2007 at 10:49 PM #87042temeculaguyParticipant
I am not going to take a stance on the article just give you some info on it’s origin, it’s from the Philadelphia Church of God. This is not some non denominational outfit but an offshoot of Armstrongism. After the death of this church leader his church splintered into a bunch of different churches. They don’t appear to be lunatics (I don’t know of any followers personally so I’m guessing) but they are quite different from the run of the mill churches. 10% tithing, no pork or shellfish, no christmas or easter and above all, the church will take over the government
Just like I cannot accept information from the National Association of Realtors without being skeptical I cannot accept this information because their doctrine needs the collapse of society and government in order for their predictions to come true.October 5, 2007 at 7:02 AM #87049bsrsharmaParticipant
I cannot accept this information because their doctrine needs the collapse of society and government in order for their predictions to come true.
Scepticism is good; but when I read the article, there is remarkably little doctrinaire stuff and generally good macroeconomic analysis. I did not see any mention of religious beliefs or dogma. It is no different from an article in Christian Science Monitor (a good general newspaper, in spite of unusual title)October 5, 2007 at 7:47 AM #87051
generally good macroeconomic analysis.
There is no macroeconomic analysis. There is a little blurping about subprime and MBSes but that is even less astute than you’ll find explained on the blogs.
Notice how the people quoted have impressive titles, but no listed affliations? the only one I see is Hamid Varzi ith IHT. They’re quoting an opinion piece. An opinion piece written by a banker in Tehran, Iran. http://www.iht.com/articles/2007/08/17/opinion/edvarzi.php
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