patrick.net

Believe me, I envy what you guys can do.

Teddy was someone who defined himself. He was essentially a pure leader.

I actually like FDR too. I think a lot of contemporary FDR bashing is a lot of revisionism. He was quite the leader too. We were lucky to have a benevolent guy at the helm, as was England, during that conflagration. It could have turned out much much differently.

I am a software "engineer" and I do express contempt towards technical people from time to time. But I also express contempt towards humanity.

I actually like FDR too. I think a lot of contemporary FDR bashing is a lot of revisionism. He was quite the leader too. We were lucky to have a benevolent guy at the helm, as was England, during that conflagration. It could have turned out much much differently.

Okay, I should shut up immediately.

It is just scary reading the 10 planks of the Communist Manifesto and matching that with US history of the period.

Randy H Says:
February 27th, 2008 at 9:57 pm
"I actually like FDR too. I think a lot of contemporary FDR bashing is a lot of revisionism."

I agree, he faced two of the most challenging threats to this country in a single century. Hindsight is 20/20 but a real leader makes the best of what he has to work with at the time.

Peter P Says:
February 27th, 2008 at 9:58 pm
"I am a software “engineer” and I do express contempt towards technical people from time to time. But I also express contempt towards humanity."

I'm the same way, I dislike everyone equally for different reasons. It's my take on diversity.

FuzzyMath Says:
True, I’ve heard that before.

I am not surprised, since I expect you have even used that line yourself. :-)

While in general it is true that...

Whatever, dude. Your point is that "buyers on the sidelines" might want to get scared about rising interest rates. Sounds like the usual farfetched troll-talk to me, but I guess realtwhores gotta eat too...

I’m the same way, I dislike everyone equally for different reasons. It’s my take on diversity.

Misanthropists are Equal Opportunity Haterz. :)

Okay, I should shut up immediately.

It is just scary reading the 10 planks of the Communist Manifesto and matching that with US history of the period.

Which is why he should be held up as a great leader. Someone weak of moral character would have made away with that opportunity, as did Stalin.

No need to shut up though, lol.

Peter P Says:
February 27th, 2008 at 10:02 pm
"It is just scary reading the 10 planks of the Communist Manifesto and matching that with US history of the period."

Ok, now my turn. Not my creation, I stole it but I think it is funny.

"Do you ever look at the current state of affairs, pull out the Book of Revelations, and start checking things off?"

“Do you ever look at the current state of affairs, pull out the Book of Revelations, and start checking things off?”

I do that, but with the Hitchhiker's Guide to the Galaxy.

I need to read that.

FDR might have been a hero but the irrefutable fact is that the trampled upon the very concept of property rights.

I agree that hindsight is 20/20. Yes, hindsight reveals that he "had no better options."

But the 10 planks absolutely do not fit the present US policies.

Malcolm Says:
I do admit it is radical, but what a fun concept to be an innovator/early adopter for. I think it looks awesome too.

Man, you would have loved this thing they used to sell back in the 90s, called the Corbin Sparrow, built in Gilroy. Radical to look at, completely plug-in, absolutely a hoot to drive. They even had a prototype for a 2nd generation that looked nicer, but they filed for bankruptcy a few years ago.

I heard someone was trying to revive the company, not sure what happened.

What I'd like to know is what it seemed like when the Depression started. I know they went into the same denial, I've actually learned that from reading some of the links. Growing up, I often heard the stories about how miserable it was. People actually were starving. I don't know if our modern society will have a repeat of that or if it will be a Depression on paper or like Randy says just a big R. To me, for it to meet the definition of a Depression A) it has to happen to me and B) there needs to be long bread lines and real misery.

We invented the printing press not so long ago.

Moreover, unlike the past, US now has a powerful military, which is useful in fending off creditors.

However, the financial system may experience Depression-like influences.

Although I do not like moral hazards, I still have to praise Bernanke for saving our banking system, if he is to succeed, that is.

I recognize the need to not let it collapse but that was just rampant stupidity. Criminally negligent.

How about fining the CEOs for all they're worth and dishing out some jail time?

Still though, FDIC is covering the deposits, so what's the big deal in letting it all go to pot?

One probable cause of the Great Depression was underconsumption.

Perhaps retiring boomers will be our savior this time around. There should be no fear of them under-consuming whatsoever. :)

Like CFC's tan man....he was criminally negligent. These people need to be held to a standard of public trust. They are backed by public funds.

As long as you give them payments they'll buy anything. Oh man, I saw the funniest King of the Hill the other day where the grandfather wanted to buy a timeshare in Mexico. It was classic!

How about fining the CEOs for all they’re worth and dishing out some jail time?

It will happen. A few scapegoats will go down in numerous witch-hunts.

just rampant stupidity

'Stupidity' is the alternate spelling for 'humanity.'

I think a War is much more likely than a Depression.

That's my worst case fear. Mexico is already firing across our border at the border patrol. We could have a real body count from pissed off investors going in and shooting some of these investment firms up. Nothing like finding out the servicer didn't complete the paperword properly so basically you bought someone else a house free and clear.

Malcolm,

If you look at my post again, you'll see that I didn't write that you were wrong, nor did I say that you were offensive. I merely said my substitution of street terms for your politically correct characterization of "most" of us is just another way of saying the same thing.

I wasn't disagreeing. And I didn't say you were being offensive, and I didn't take offense. So if you wanna say that I'm the offensive one, go ahead. "Some" or maybe as you said "most" mainstream Americans who grew up in mainstream USA and learned physics and math but failed in social skills took our social un-intelligence with us to engineering school and the workplace. Hardly surprising that some (or as you put it "most") of us lack the social intelligence to recognize things like your irrational exuberance or whatever. So that's one caste.

There's another, from elite upbringings in places all over the USA and all over the world, with all the perks and best resources and opportunties afforded by their birthright, including the most elite engineering schools. Coddled much of their life by hearing accolades about how special and smart they are, drawn from all over the world to the "Silicon Valley" or "tech" cache, you really think they're gonna listen to anything that you or me or anyone else has to say when they have been told their whole lives how smart they are, when they "know" that real estate only goes up? So there's those types, too.

Have a good night man.

Mexico is already firing across our border at the border patrol.

We need that double-layered fence built ASAP.

Depression is a political term. The "Great Depression" was a deflationary recession in economic terms. The "Great Depression" in Europe was (in many countries) the opposite -- hyperinflation. What made them depressions was the fact that the event threatened and changed governments.

I believe we are all but immune to hyperinflation, for the reason Peter points out -- we have a credible military. It's hard to collect from people who won't pay and have a lot of carrier fleets. Other examples would be Russia in the 90s, Israel years earlier.

But we aren't immune, however, to a good old fashioned liquidity trap.

But we aren’t immune, however, to a good old fashioned liquidity trap.

For that, we have the printing press! :)

It is very important to maintain a credible military. It is one of the few things that cannot be privatized.

God help us.

Yes, the most arrogant ones of those castes that I encountered were from European countries where they are never questioned, and always had job security due to the social caste systems there. We even had one of those guys commit suicide at Metallic Power after he managed to get himself fired for this atitude.
So I do think I've encountered my fair share. On the flip side, some of my closest friends were from those days and they definitely were not intreverted nerds, although even they joked about how badly their peers were at understanding economics or logistics. Then there was a group of very smart nerdy types who were so insecure they could never commit to something, they always doubted everything, and created more stumbling blocks than they solved. Nothing ever got completed because of this almost anti social behavior. I've seen it all.

Randy,

Well glad that I was wrong that you only "used to" post here.

Didn't say I hated you.

Not at all. It was I who solicited your opinion, because I respect and learn from what you wrote here, about the gold.

I asked your opinion (not advice) about gold, and you gave it. Something about the only good that would come from it would be to use it to flee the country (like maybe, some Vietnamese did after the fall of Saigon), but also something about that in that case, someone else would probably rob me for it. I took it as a double entendre, like the robbery might be the imposition of some kind of capital controls like the failed ones Mitterand imposed early in his first term.

I also noticed you expressed that sentiment to others at other price points too.

Well I didn't take your opinion as advice, but I did take note of it.

Yes, the most arrogant ones of those castes that I encountered were from European countries where they are never questioned, and always had job security due to the social caste systems there.

They need to understand that intelligence is just a commodity nowadays. If they are not flying around in private jets, they have no business being arrogant.

We are back to the days of 200+ comments per day. :)

Didn't know it was a challenge. I have to stop myself sometimes, if you get me on a rant, I'll get it up to 250 :(
I know I can't help it.

Sybrib

It's all good. It's been a while, and honestly I don't remember you particularly hating me. I was referring to the "goldbugs" who came on here with eerily regularity pasting links, pushing some "brokerage" or another, and invoking hellfire and damnation as a reason to load up on gold eagle coins.

Gold is a great component of a reasonable portfolio, in my opinion. Commodities in general might be pretty good for the near term, due to inflation. My only point was don't expect to "spend" your gold. It's not money. And I always prefer investments into things that produce cash flows.

Yes, that's what I used to say to (nicely) and about them. In this country you're worth what you can actually deliver, don't try flaunting some status thing around like you're indisposable.