Comments on: Updated: 'Don’t Bet On A Recovery'

By: John Danforth

John Danforth — Sun, 07 Mar 2010 21:36:58 +0000

Anyone who has any real wealth is in for a lot of trouble trying to hang on to it.

For us peons, the best way to save is by buying pre-1964 silver coins. Can’t be inflated away, can’t be confiscated easily, can’t be taxed easily. Hide in a separate place from your guns and ammo.

By: Myron Pauli

Myron Pauli — Sun, 07 Mar 2010 19:27:19 +0000

I fully confess to NOT understanding consumer behavior. My big purchase for the week was buying cans of Chile for 34 cents/can ($1.79 discounted to $ 1.34 with $1 off coupons). However, I took my daughter and 3 friends to the Tysons Corner mall to splurge $20 on a movie and popcorn while I read the newspaper and watched hundreds of people spending money on overpriced garbage at the mall. So the federal government prints and borrows money, pays its employees and those of contractors, and the mostly women and kids (with guys tagging along) go out and spend it in Fairfax County VA on overpriced crud imported from Asia – such as $ 400 coats at the North Face. As long as the counterfeiting keeps up, so does the overcrowded mall. To me, America 2010 has the feeling of Austria 1913 – right before the end of an era. I don’t know when the financial bubble will collapse but I have some cans of Chile to live off of for a while.

By: Roy Bleckert

Roy Bleckert — Sat, 06 Mar 2010 19:43:47 +0000

Schiff is ONIT

http://schiffforsenate.com/

By: Greg

Greg — Sat, 06 Mar 2010 15:41:41 +0000

Great Blog entry. I agree completely!

By: Steven

Steven — Sat, 06 Mar 2010 14:24:20 +0000

Peter uses sound logic in a supply and demand sense to come to his forecast and I find myself agreeing with his conclusions.
However, on a personal level I am not seeing or experiencing any of the effects of this supposed downturn.
It looks to me that we have a corporate culture controlled by spastic individuals, whose only leadership attribute is selling themselves to their constituents, pretending they know something, acting ‘responsibly’ in response to the latest economic news, and in place of making any intelligent choices as how to maintain their company’s profitability, they resort to the easy way out and lay off the people who helped create that company’s wealth in the first place.
No these aren’t the titans of industry we’ve been led to believe they are. These are over educated, over rated, sad examples of humans who should be the ones on first ones kicked to the curb with the cords of their golden parachutes cut.
And the same applies to all the dullards sitting on these corporate boards with their i.v.’s steadily draining the life from the company without consideration for the lives attached to it.
And government is not the answer. People are. Individuals need to, on an individual level, not some corrupting collective group, understand their own self worth and be willing to say FU to these petty hacks who think they hold sway over each of us, and let true competition begin as the basis for mutual respect in the work place.