One pissed-off redneck tells it like it is about the economy

[cinephile]

Man, this guy's awesome! Check out this youtube vid where this redneck is mad as hell and isn't going to take it anymore! He's pissed about the economy and all the BS from politicians and the "feel good" rhetoric about how the economy will turn the corner soon. He also doesn't miss a beat with any of his facts. This is no simple rant.

 

As soon as I saw it, I thought it would be GREAT if someone posted a vid like this for psychiatry! Instead of a computer monitor we could have a hanging effigy of Biederman or some other toxic and corrupt elite psychiatrist and beat the hell out of it. Someone could also shatter all kinds of pharma freebies like pens, clocks, etc with a sledgehammer.

 

Awesome!

 

[Altostrata]

Great idea, cine. You're the perfect person to do it!

 

With Steve Jobs's passing -- he was as close to a hero as I've ever had -- I am reminded that, if you have a good idea, don't wait for approval or for someone else to do it. Have faith in yourself and do it!

 

One thing Steve had was faith in himself. I don't think anyone would deny that.

[Crocus]

I appreciate your video cinephile. I do. Sometimes I wonder if anyone else notices that things are really going the wrong direction at high speed. It makes me sick. We want to work. We need to work.

 

I cannot believe that people believe in the unemployment statistics. My husband and I and a lot of people just like us aren't eligible for uneployment so we aren't even counted...

 

I would LOVE to see a video about bigpharma done just like this. I have props to contribute....pill bottles...haha!! I cannot even explain to people what I am going through.

 

So glad you are here. Keep the fire burnin' in your belly - always. Crocus

[cinephile]

A little update, Crocus:

 

Take a look at this link. It blows the lid off how the latest round of BLS bullsh*t just obscures how wretched the economy really is.

 

As Scooby would say: RUT ROH!

 

http://www.zerohedge.com/news/gallup-finds-recent-job-boost-due-temp-and-part-time-hiring-underemployment-greater-prior-year

[alexjuice]

Zerohedge!

 

You've found the pot of gold at the end of the rainbow. I don't know how much reading you do over there but I do quite a bit. The market stuff is itneresting. The end of the world stuff, well, who knows.

 

The problem with predicting financial collapse and global armageddon is that... well, you can just get carried away. It's in the timing.

 

I particularly recommend the stuff from Kyle Bass, a hedgie out of Dallas. If I had $5Million, he'd be my guy.

 

http://www.zerohedge.com/news/kyle-bass-explains-new-world-order

 

http://www.zerohedge.com/news/why-central-planning-leads-instability-bass-reads-taleb

 

I guess the important thing is that I've come to truly appreciate the economic maxim: Things that are unsustainable, eventually stop. That's where we are, IMO, with debt in the developed nations. The end is still uncertain, though the inevitability of looser monetary policy leading to wide scale inflation/resource hording becomes more likely by the day. The good news is twofold. 1.) nobody knows the future and 2.) even things bound to happen can occur over multiplicity of timelines.

 

I try to live in today. But, cine, if you like finance, I recommend Kyle Bass. (Also Hugh Hendry). Bass is the most lucid of the collapsingcurrecy folks and he's got a helluva track record. He made hundreds of hundreds of millions shorting sub-prime mortgages a la John Paulson.

 

If you already follow all this, no offense. But this stuff has been of particular interest to me for a very long time even though I am a bystander come the markets.

 

Alex

[cinephile]

Awesome Alex! I found ZH about six months ago and it's just an amazing website.

 

But I agree that the end-of-the-world stuff can be a bit much. And a lot of the commenters can be real self-righteous assholes.

 

I totally agree with you about how the economy as it is now practiced is unsustainable.

 

And you actually cheered me up by reminding me that nobody knows the future and bad sh*t can happen over various timelines.

 

I needed that

 

PS: I've recently discovered Kyle Bass via ZH. That guy is a stone-cold bad-ass. You're right, he has a great track record. One of my favorite quotes from him is "Look, I'm not paid to be optimistic. I'm paid to be a realist, and right now it's realistic to be negative."

 

AWESOME!

[alexjuice]

That's cool that you've been following as well. I agree with ya about some of the commenters, there's some whackos for sure.

 

I first came across Kyle Bass when he participated in the very well-made CNBC two hour documentary on the housing collapse in 07-08 called House of Cards. House of Cards is available online...

 

http://www.cnbc.com/id/28892719

 

... and if you ever have an extra hour forty, I recommend it. Great doc.

 

Also, I've actually had some moments of getting really terrified about the economy in my withdrawal. It's something that provokes fear in everyone, financial insecurity. But I try to remember an old quote from Peter Lynch about financial meltdown. Basically he said worrying that the whole system will come crashing down is like worrying that an asteroid will strike the planet in that the damage will be so massive, affecting everyone that it's almost not worth worrying about. If it happens, everyone is screwed more or less equally.

 

I've got a day to day life to worry about, no time for Armageddon. I'm doing pretty well with that most days.

 

The other thing is that even though smart prognosticators like Bass foresee bad times ahead... Well, it's been my experience that the greatest investors are at best correct 60-70% of the time. And actually very few are right this often, IMO, unless they are cheating. Most of the greatest speculators/asset managers are 50/50 or a little better. One can become a famous investors being wrong more often than being right, so long as one is very right when they are correct and quickly cut losses when they were wrong.

 

Yogi Berra about the forecasting, right? It's tough to make predictions, especially about the future!

 

So even though I see trouble ahead... you never know. And for guys like me, the trouble ahead pales in comparison to the threats a guy in Haiti or Zimbabwe faces every single day.

 

Still sorta sucks.

 

Alex

[Barbarannamated]

You guys are truly awesome.

We lost a house in that collapse.

Oddly, our credit scores are higher than ever. We're afraid to ask why.

[alexjuice]

One of the things I feel most angry about regarding my current poor health, is my inability to live an economically independent life. I foresee many things and sitting here with my two hands cuffed behind my back, after a whole adulthood with one hand tied behind my back, is unbearable.

 

I won't give up but I only have so much time. I continue to be very pessimistic about the world's economic affairs and this post is a reaffirmation of my despondency.

 

Al;ex