Either they're letting the kooks on to freak everyone out, or the kooks are right and the people who listen to them (vs. Bernanke and Bush) will be happy they did.
Got popcorn?
March 02, 2008
So is the MSM fear-mongering, or are they simply now just letting the cat out of the bag?
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you can tell that washington is out of touch with the people when pres. bush said he hadn't heard that gas was going to be 4 bucks a gallon. they don't buy what the regular people buy the american taxpayers are buying everything they want and need so they haven't been in a grocery store in years. Haven't had to buy gas in years. also they can afford it and their checking account doesn't drop to nothing when they go grocery shopping. I have been telling people for months now to save quit spending just buy what you need pay off your bills don't buy anything new. They looked at me like I was a raving lunatic (I guess I did look sorta crazy, there were no news reports yet)because I think they think the government is going to fix it and they won't have to change a poor way of life. I virtually had no savings but 2 years ago I started getting very serious about that and then begin to hear americans save no money all they do is spend spend spend. All the people that laughed at me and told others don't talk to her she's crazy boy will they get a surprise when the government can't fix it and they have to change. People are talking about gardens in the back yard. I say get a survival guide book because I think that is what people are really gonna need, quiet as it is kept the government is really letting this stuff leak as a warning: You are on your own. And NAFTA AND WELFARE REFORM SUCKS. When a woman with kids looses her job to NAFTA and can't find another she can't even get WELFARE. So Clinton screwed everbody and he didn't even know that he was. Some times these things don't play out by the end of the year sometimes it takes YEARS for the full impact to show it's ugly face and this is ugly.
No one knows how this will play out.
However, the media owes it to everyone to show the raw data. Mr. Williams did not say we are headed into another Great Depression, he said he had not seen similar conditions since the Great Depression.
Considering the ridiculous, unsustainable level of affluence we now enjoy, what would "bad" look like?
Stop the war, tax the rich, create jobs, deploy and develop high tech and green tech. End of problem.
Stagflagion... Does that have something to do with a stag party?
---GWB
Keith,
Thanks for posting the video.
Amazing stuff... for CNN.
Based on the report, I think we're in Fear. The story, as scary as it is, still presents this as a possibility (albeit a strong one) - not a certainty.
When MSM reports it as a certainty, we'll hit Panic. Then the wheels come off.
That will heppen soon.
Thanks again.
Since the consumer confidence index is falling, I think that Faux News is aware that it needs to resonate with its audience and at start psychologically mirroring fear.
"And NAFTA AND WELFARE REFORM SUCKS."
while NAFTA sucks, it was necessary since the smart americans would be doing business over the internet anyway and trading information and building a culture under the radar. and the realities of NAFTA forced "welfare reform."
What really sucked about welfare reform is that the federal government (according to bowling for columbine) gave rick folks (like Dick Clark) kickbacks for hiring those on welfare while, as we know, thumbing its nose at minimum wage increases. Obviously, subsidizing the minimum wage would have been a much better policy towards the poor than transfering even more wealth to the wealthy!
Keith,
I agree that CNN may be just starting to reflect low consumer confidence with some data, and I don't think John Williams is a kook... especially as M3 and other previously available government indicators are now being dropped from visibility -- somebody has to show the American people the truth, and the fact that Universities are echoing it... lends even more credibility.
Yes, banks will fail, etc. and I think you know that it's going to be very painful as the currently ongoing recession escalates into an actual depression.
If you haven't been there yet, Jim Puplava has a great site at www.FinancialSense.com -- he has Peter Schiff on quite often. Puplava is calling for an actual depression to occur in 2010. The weekly broadcasts are excellent. Lots of educational resources from guest speakers are also found at:
http://www.financialsense.com/asktheexpert/archive.html
Keith, keep up the great work. Thanks.
You missed the irony - we ARE the kooks
.
"Is everybody Happy"?
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Careful with the certainty about inflation. A shitstorm like this wipes out demand, it's going to be real hard for producers to pass on the increased PPI costs, and according to Mish (according to others), the Fed 's own data show that it has been deflating, not inflating:
You have read the headlines about the Federal Reserve's new policy of inflation to solve the credit crisis.
I ask you bluntly: "Have you reallocated your investments so as to hedge against the FED's wave of fiat money?" Be honest. Have you?
I hope not. Why? Because the reports are all wrong. I don't mean a teeny-weeny bit wrong. I mean completely wrong.
The FED has not been inflating. The FED has been deflating.
Hard to believe? It surely is. I find it difficult to believe myself. I had thought the FED would inflate ("Reality Check," August 28). So did everyone else. But the data are clear. The FED has shrunk the money supply since mid-August, 2007.
In support of this, I offer evidence from the FED itself. I have assembled the data and the charts. Click the link: What the Federal Reserve Is Doing to Solve the Credit Crunch.
....
Conclusion
The bullish stance of American investors is being hit hard by a falling stock market and falling real estate prices. The hope of most investors who are long – and most are long – is that the FED will intervene on the side of the bulls. In fact, the FED has been intervening on the side of the bears.
Because this is so far out of character, the media are blind to the data. They listen to Bernanke's assurances of aggressive monetary policy and think, "stimulus." He even says this magic word.
Do what Nixon's Attorney General John Mitchell once said: "Watch what we do, not what we say." They did, and he went to jail.
Watch the statistics of what the FOMC has done, not what Bernanke says they have done. If you don't, you're in for a big surprise.
I can barely watch this. The melodramatic delivery is so obvious. The hand waving, the head shaking and nodding, the shouting towards a distant mic like it's a sporting event. It's all so staged. These are entertainers, not journalists relaying useful information.
granma pkk here--
That version of John Williams interview is interrupted and edited. He also said we are heading into a deflationary recession which will slide into a depression in 2009..
Glenn Beck, not very fond of his personality, said last week/posted article as well: Greater Depression:
I dreamed year and date of "greater" depression when I was 6.
Try to think extremely realistically..drop to the lowest bottom line you can think of and prepare for that. Be as sensible as you can...don't throw away clothes if they can be worn, that sort of thing..Look for necessities on sale; winter coats..
Remember Daddy Bush's look when confronted with a supermarket bar code scanner? He couldn't scan a milk carton - completely flummoxed.
Now stupid idiot son Bush #43 when confronted by the fact of $4.00 gallon gas in us gives that chimp-like dumb gaze and shrugs his shoulders...
Have you ever seen two more clueless alleged humans ever?
The stupidity and disconect, It Must be in the genes...
grandma pkk here again today--
I know that was delivered rather dramatically, but I saw the whole of John Williams interview last Friday and he was very subdued and sedate. But he did say we are going into a depression, in 2009. Quietly, but clearly.
However, today I caught some of Bernanke's talk re the mortgage crisis. He is suggesting one remedy might be for banks to reduce the actual principle owed on houses, with the bank to hold a warrant so that if the house were sold in future, the bank could then collect some or all of that money. The idea being that this would encourage discouraged home buyers from walking away..He is saying lower the principle to what it should have been in the first place..
THIS IS POSSIBLY UNPRECEDENTED, AND HE IS IN A POSITION TO KNOW THE REAL SITUATION.I do not know if this was done during the Depression; I think it might have been done on a case by case basis. I will ask some of my personal discussion sources. We are talking EMERGENCY MEASURES HERE FOLKS. There is no way that man wants to step up to the flack that idea will bring down on his head; he is saying that because it is that bad. But banks will be very reluctant to give anyone a mortgage if they aren't sure of it's outcome. So that's possible, but probably not helpful. I know it doesn't look like anything much has happened in many communities, so it's hard to believe some of what is written here.But take it from an older, informed person, we are in deep compost...I think this one will play out slightly differently, in that it will probably all come home in a short period of time, say over a 2-3 week period with some couple of major, related events, and then the denial will be gone. I think most of TPTB, excepting of course George, are no longer in denial.Television coverage is choppy, with more or less disclosure, but hearing the Depression word surface on MSM is a clue in itself.
The first thing for most of you to do is go into anger, denial, numbness and apathy. This is, part of the process of you assimilating this information. No rescue or plan is forthcoming from the government despite the empty promises and rhetoric they are all known for. You alone must be responsible for your welfare. As always, it is imperative that you are aware to what's happening.
You better prepare yourselves for the worst because the super rich are talking about it among there peers and they know what's coming. Many are fleeing the country!
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