Tuesday, Feb 10, 2009
Video: Dr Doom meets The Black Swan (and get mugged by CNBC hosts)
CNBC: Predicting Crisis: Dr. Doom & the Black Swan
Great stuff. Bill Gates and Michael Dell stood in the queue for hours at Davos to see these guys. Nationalise the banks and sack everyone that got us into this mess, talented bankers, central bankers and governments, the lot. Are we near the bottom yet? LOL we haven't even started...
Posted by mountain goat @ 01:31 PM (527 views) Add Comment
5 Comments
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1. mountain goat said...
While on the video bear trail....CSPAN Rep Paul Kanjorski Reviews the Bailout Situation
"On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there.If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it."
2. troy said...
A global depression, in and of itself, isn't the end of the world. However, it can set in motion unexpected events (black swans) -- as in how the last depression catalyzed WW2. The revisionist effort to this economic collapse isn't likely to be a surge in ideology or nationalism. Instead, we can expect an organic realignment as small groups of people form new primary loyalties (either to violent manufactured tribes or resilient communities), slot themselves into open source movements, and challenge a wheezing group of incumbent nation-states. This is a global guerrilla century.
http://globalguerrillas.typepad.com/globalguerrillas/2009/02/journal-the-depression-scenario.html
3. troy said...
apologies to the purists, that was a quote from the article
here's a comment
There's a QUADRILLION dollars of fraud out there. Forget the trillions you've cited.
http://mikecane2008.wordpress.com/2008/11/12/the-dimensions-of-our-doom/
4. troy said...
WTO Chief Warns of Looming Political Unrest
By AFP
February 09, 2009 -- BERLIN (AFP) – The global economic crisis could trigger political unrest equal to that seen during the 1930s, the head of the World Trade Organization (WTO) said in a German newspaper interview Saturday.
"The crisis today is spreading even faster (than the Great Depression) and affects more countries at the same time," Pascal Lamy told the Die Welt newspaper.
http://informationclearinghouse.info/article21940.htm
from their comments :-
This is NOT good.
I think the people (sheeple), are being "primed" to expect that "Law and Order" WILL be imposed by black garbed, booted enforcers.
In other words, "Don't be surprised to hear a loud speaker in your street at 5:00 am telling you to - "stay inside your house, and do NOT exit, that there is "Civil Unrest" and all "persons" found in the streets will be immediately taken into custody."
Not good, very worrisome. This entire society is targeted for harshly imposed "change".
Nancy | 02.09.09 - 5:14 pm
5. paul said...
Never understood why Taleb got all the recognition for his book on Black Swan Events. Thom Yorke sung about it in 2006 (for a slightly different reason though - the end of oil). Enjoy.