Tice Sees U.S. Depression, Says Jobless Rate May Top 15%

[Mnphats]

Quote from tman:

Scooters are like fat chicks

Tons of fun.

 

[hayman]

Quote from ByLoSellHi:

I actually am in full agreement, so I really don't take exception to that.

I think things are so much worse than 98% of the population does, but I don't think I'm pessimistic. I think I'm a realist.

I've been telling people this is not a business cycle recession; we are undergoing a macro, structural change, and it will take a decade to complete the process.

By the time all is said and done, and equilibrium is achieved, most people here will freely admit they would have never believed what they have by then witnessed, as we settle into the 'new normal.'

The one component that could really make life hard for all global participants is productivity gains. That would exacerbate the problem by a magnitude that is truly frightening.

If businesses increase output dramatically, using fewer employees and lower resource utilization, economic policy will have to be completely redeveloped to stave off the 'Greater Depression.'

Sadly, I am in agreement here.

 

[Clubber Lang]

Quote from ByLoSellHi:

I actually am in full agreement, so I really don't take exception to that.

I think things are so much worse than 98% of the population does, but I don't think I'm pessimistic. I think I'm a realist.

I've been telling people this is not a business cycle recession; we are undergoing a macro, structural change, and it will take a decade to complete the process.

By the time all is said and done, and equilibrium is achieved, most people here will freely admit they would have never believed what they have by then witnessed, as we settle into the 'new normal.'

The one component that could really make life hard for all global participants is productivity gains. That would exacerbate the problem by a magnitude that is truly frightening.

If businesses increase output dramatically, using fewer employees and lower resource utilization, economic policy will have to be completely redeveloped to stave off the 'Greater Depression.'

I am bearish on the economy too, although not nearly as much as you (and Tice).

I don't think the mid 600's area will hold on the S&P's (however, I think they will hold on the first retest, then the real drop comes in summer/autumn 2010 after everyone finally realizes the government is full of shit and real panic selling hits the market).

 

[Hombre]

Quote from Clubber Lang:

I, then the real drop comes in summer/autumn 2010 after everyone finally realizes the government is full of shit and real panic selling hits the market).

Ain't gonna happen, gov has been full of shit since Bush Sr and people still don't get it.

 

[Clubber Lang]

Quote from Hombre:

Ain't gonna happen, gov has been full of shit since Bush Sr and people still don't get it.

Very true, but the lies and propaganda coming out of this administration is beyond compare, and they've only been in office a few months!

 

[turkeyneck]

When will he upgrade his monitor?

 

[ByLoSellHi]

Quote from Clubber Lang:

I am bearish on the economy too, although not nearly as much as you (and Tice).

I don't think the mid 600's area will hold on the S&P's (however, I think they will hold on the first retest, then the real drop comes in summer/autumn 2010 after everyone finally realizes the government is full of shit and real panic selling hits the market).

I mean this literally: The only thing that has prevented a full out depression so far is the expectations that the Obama Admin planted in January with the talk of the great good the stim package was going to do.

Once the masses come to grips with the fact we are worse off now than before the stimulus package was implemented, and that the government really desired to essentially save the banking system from collapse (which they could have done for a fraction of the money they expended, as they used the crisis to pass a bunch of union, state employee, etc. friendly spending ), the confidence will leave the country like air from a balloon.

That's when the shit will hit the fan; when people lose faith that the government can 'fix' what ails the economy.

That time is drawing nearer. It's inevitable. When it dawns, it's money in the mattress time, which will be the final shock that capsizes the economy.

They can fire up the printing presses at that point at it will be like pushing on a string, because people will simply not spend money.

 

[makloda]

Once the S&P hits 350 he should also be able to upgrade to a decent pair of leather shoes (and get rid of those $15 Chinese rubber loafers) next time they shoot a photo of him.

 

[Debaser82]

He said gold 2000$ in 2009.

Whats going on David.

Should I dig up my coins from the backyard and sell or is it still happening?

 

[jonnyy40]

Fascism is another version of collectivism - They're all from the left. That's what you people are beginning to suffer and as things get worse,it will be used as an excuse for an evermore tougher kind. Rahm Emanuel's compulsory service corps will be the 'New American Patriots' and they will be equally as zealous as Mao's little red bookers because nobody does zealotry like Americans.However,your uniforms will be terrific,I guarantee it.