Self fulfilling prophecies are self fulfilling.

Imagine for a moment, a Republican president, doing the exact same things Obama has done. The tone of media coverage would be so different, I bet people would feel better about the economy, and things would be better on track.

And of course if the Democrats were being as obstructionist as the GOP is being, they would be demonized more thoroughly that the Russians were at the height of the Cold War.

FTA: "If this credit bubble pops, the depression could be so severe that I don't think our civilization could survive it."

Man, I can't wait!

Shut up subby! Hope n Change is here!

Meh, lets all go biatch about "fairness" in the political tab. That'll solve all of our problems

I have heard that Donald Rumsfeld recently had about 3 years worth of food / supplies delivered to his New Mexico ranch (right outside Taos by Eagles Nest...I have family there). Could be just a local rumor mill...not sure.

Stopped reading when he said "When we broke the link between money and gold"

Wow, they're letting gold nuts write articles now?

The problem is not fiat currency or even credit. It's the break down of our social elites, and their fark you I got mine attitudes. For Christ sakes, people are on MSNBC preaching the gloriousness of allowing depositor banks and investment banks to be one in the same. Regulations have been guttet, and where they haven't been, people are abusing and finding ways around the spirit of the law, while Washington stands by and tells the citizens: not our problem.

We're on the precipice, starring into the abyss because of a generation of assholes who take everything and will not allow themselves to be held responsible for the shiat they peddle.

For the government, to wall street, to main street. They privatize the profits and kick and scream and complain to get the losses socialized. It's not their fault! They only took the wealth from their parents, that they created, and borrowed heavily from their children future. IT'S NOT THEIR FAULT.

Thanks alot D'ohbama!

/just kidding, gold bugs are loony

More farked than Paris Hilton at a fancy Hollywood party?

More farked than a kardashian at the NBA playoffs?

More farked than your mom?!?!?

EnviroDude: you would think after bailing them out, the democrat supporting wall street bankers would loosen up their purse strings. Want to know why this is a jobless recovery? Because nobody can get a loan anymore - but the upside is that Obama and the democrats will pocket millions at their $50K a plate fundraisers.

Need to borrow money? Eat cake!

Wow. In your world it is the Democrats who are in the pocket of Big Finance and Big Corporations??!?!!

What color is the sky there?

Man and here I've been told the problem with the economy is consumers are deleveraging their debts. In other words they are repaying their debts and reducing their credit which is driving demand down as they are not buying shiat cars, shiat appliances, and just plain shiat on credit.

SpectroBoy: Wow. In your world it is the Democrats who are in the pocket of Big Finance and Big Corporations??!?!!

That's been true since approximately forever, just like it is for Republicans.

Both parties simply represent a different set of special interests on economic issues.

vgacolor: Stopped reading when he said "When we broke the link between money and gold"

Same here, I wonder is the author realizes it was Nixon, a republican, that took us completely off the gold standard.

YixilTesiphon: SpectroBoy: Wow. In your world it is the Democrats who are in the pocket of Big Finance and Big Corporations??!?!!

That's been true since approximately forever, just like it is for Republicans.

Both parties simply represent a different set of special interests on economic issues.

So vote republican?

stuhayes2010: vgacolor: Stopped reading when he said "When we broke the link between money and gold"

Same here, I wonder is the author realizes it was Nixon, a republican, that took us completely off the gold standard.

Came here to say this - and to make a sarcastic remark on how there were never any panics, recessions, or even a single depression when we were on the gold standard. Not. A. Single. One. Nope - not at all.

EnviroDude: you would think after bailing them out, the democrat supporting wall street bankers would loosen up their purse strings. Want to know why this is a jobless recovery? Because nobody can get a loan anymore - but the upside is that Obama and the democrats will pocket millions at their $50K a plate fundraisers.

Need to borrow money? Eat cake!

The cake is a lie.

Are you a for-profit corporation that made one too many bad loans? Fark you, you're the idiot entitiy that made the stupid loans to begin with.

That's why bankruptcy exists. Sucks for you, try not to be stupid with money.

Americans don't have money to pay you and eat, you farking morans. Where's the money they owe you going to come from, out of their ass?

Take the profits you assholes make each quarter, and offset an equal amount of bad loans. Write them off, and don't loan to subprime customers again. You know the McDonald's workers who each bought a $500,000 mansion with an ARM? LOL, don't expect payment from them. Ever. Write it off. Start with the loans least likely to be paid back.

Kick them out of the houses they can't afford, and sell those houses plus the houses that haven't been sold since 2007 to homeless people for $1, US veterans get first crack, followed by families with 2 or more small children that didn't fark up financially, they deserve a chance. These are the people that got the ultimate screwing in this economy. With luck (now that they feel like their lives aren't meaningless), they'll start to contribute property tax revenue, however small it may be.

The McDonald's workers who declared bankruptcy can get to the back of the line, they've already proven they're useless AND stupid. Let those assholes rent.

/rant off

FTFA: "If this credit bubble pops, the depression could be so severe that I don't think our civilization could survive it."

Nonsense! The price of Hoppe's No. 9 Solvent has not changed in recent weeks, therefore civilization is not about to collapse.



/when it does...EVERYBODY PANIC!!!

So, Bush broke the world.

We will be lucky to survive it.

Hate to tell you this baby boomers, but this isn't all going to end in a bang.

It's going to end with all of you dying. Some now. Some 10 years from now. Some 40 years from now. But as a population, y'all gotta go.

You are tying up slots in the workforce. And as long as you continue to do so, we can't find jobs for people who are trying to support a family. All of our collective wealth is tied up in one way or another with your various speculation schemes: The stock market, the housing market, the credit market, etc.

As you die off, your shares in these fleecing schemes will have to be liquidated and distributed to your heirs. As you die off, you will be replaced in the workforce by someone who needs to support a family. All that property that is tied up while you look for another sucker to fleece will have to be sold.

This gig is only going to continue to be a drama while you draw breath. And fortunately that is not forever.

So I am refusing to panic. Or get depressed. I'm just biding my time, knowing that I have the clock on my side.

I tried to make a handy infographic of the world's current financial state using Game of Thrones characters to represent major issues and leaders. Unfortunately, I couldn't stop making everyone Hodor.

Sweet Jesus, another farking moron that wants to go back to the gold standard.

Shazam999: Sweet Jesus, another farking moron that wants to go back to the gold standard.

Yea that's when I stopped reading that lunacy. I enjoy the occasional nutbag "article" but I can't listen to anymore gold standard nonsense.

Evil Twin Skippy: I'm just biding my time, knowing that I have the clock on my side.

Lol, until one of them 'accidently' runs you over at the Farmer's Market in the ultimate 'Get Off My Lawn" gesture.

Let me guess. He's selling something.

/rechecks article

Yup. Selling a book.

"If this credit bubble pops, the depression could be so severe that I don't think our civilization could survive it."

Man, talk about being a drama queen.

Contents Under Pressure: Let me guess. He's selling something.

/rechecks article

Yup. Selling a book.


yeah what a shiatty way to market it too. The whole civilization will go kaplooey in ten years. If you truly believe it you would put all your money in perishables, ammo, guns, water, etc. No need to buy his book, if your main point is civilization is over.

No, no, no - this is Obama's Great Recovery!

/We're all rich rich rich - thanks Obama!

In summary:
1. The economy is complex
2. No one really understands it all
3. We should panic

Thanks for the info.

Grand_Moff_Joseph: Oh look, another "we're doomed!' article from CNBC. By the end of the day, they'll have a related article telling us the exact opposite.

CNBC's ratings go up when market turbulence goes up -- their ratings, in general, are positively correlated with market volatility (and generally when the market is sinking). Of course, they can find someone to talk about anything they want. No doubt, they can find a bullish "analyst" / "expert" that thinks we'll see 25,000 on the DOW by 2015. There's enough folks who wouldn't mind some TV time, and enough folks with opinions that span a very wide spectrum, that CNBC can find people to speak about whatever they want. It just so happens that folks like the guy in TFA tend to elicit discussion and comments.

WxGuy1: Grand_Moff_Joseph: Oh look, another "we're doomed!' article from CNBC. By the end of the day, they'll have a related article telling us the exact opposite.

CNBC's ratings go up when market turbulence goes up -- their ratings, in general, are positively correlated with market volatility (and generally when the market is sinking). Of course, they can find someone to talk about anything they want. No doubt, they can find a bullish "analyst" / "expert" that thinks we'll see 25,000 on the DOW by 2015. There's enough folks who wouldn't mind some TV time, and enough folks with opinions that span a very wide spectrum, that CNBC can find people to speak about whatever they want. It just so happens that folks like the guy in TFA tend to elicit discussion and comments.

So in other words, It's not News, it's FARK^TM?

Heraclitus: So, Bush broke the world.

We will be lucky to survive it.

LOL, you have got to be kidding me, try again. 0/10

stuhayes2010: vgacolor: Stopped reading when he said "When we broke the link between money and gold"

Same here, I wonder is the author realizes it was Nixon, a republican, that took us completely off the gold standard.

Is a bad idea somehow better or worse depending on who had it? FDR started us down the path of decoupling from gold, and Nixon finished the job. It was dumb and the party affiliation of the people involved doesn't matter. Nixon also instituted wage and price controls, which was an equally stupid idea.

Evil Twin Skippy: So I am refusing to panic. Or get depressed. I'm just biding my time, knowing that I have the clock on my side.

I'm not worried either, knowing that my golden years will be paid for by you guys' contributions to Social Security, you who'll probably collect a fraction of what you end up paying in.

I got the twitching, "TFA's going to talk about global calamity, fiat currency and gold," feeling before I clicked.

The answer these idiots have to the world's problems is to get a chest of doubloons, some guns and stick your head in the sand.

imontheinternet: And so it was prophesied that in the dark days of plutocracy and certain ruin, the spirit of the Roosevelts would descend upon the people and save the middle class. FDR would bring them jobs with living wages, while Teddy would pistol whip and skullfark each and every one of the plutocrats along with their puppets in Washington. Thus was justice restored to the land.

I would watch that movie before one about Lincoln fighting vampires.

The man on the TV would like us to buy his new book.

H31N0US: I have heard that Donald Rumsfeld recently had about 3 years worth of food / supplies delivered to his New Mexico ranch (right outside Taos by Eagles Nest...I have family there). Could be just a local rumor mill...not sure.

That's a lot of puppies!