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clearly you have some radical opinions on this
Whats radical now used to count as common sense 
Topic: Jim Rickards' New Book "The Death of Money", Review - page 3. (Read 14014 times)
He is probably talking about self bias. A university is part of the government system it then intends to study. We could argue education is independent but the amount of money put out by government and the large amounts spent by universities I think puts them into a mutual relationship. I think Timothy Geithner, Ben Bernanke and BHO have between them one years experience in the real world of business unfunded by taxes and yet they spent trillions with their high qualification and almost zero experience
So just out of curiosity, how many people here have formally studied debt? (Economics, finance majors / grads, credit traders, etc.?)
Not me.
But the people sitting at university teaching theory have no idea about the real economy anyways (see Bernanke, etc...). It's not about having formally studied this.
Alright, well clearly you have some radical opinions on this. Can you provide any backing for what you just said? That was an incredibly bold statement. Which research / set of facts led you to this conclusion? It seems like you've said anybody who worked in that industry "wouldn't know about it anyways" or something along those lines. I just don't understand how that can be.
I think if there is somebody more qualified than Bernanke, Yellen, etc. it is of the utmost importance that we find them and make sure they are in the right position.
So just out of curiosity, how many people here have formally studied debt? (Economics, finance majors / grads, credit traders, etc.?)
Not me.
But the people sitting at university teaching theory have no idea about the real economy anyways (see Bernanke, etc...). It's not about having formally studied this.
So just out of curiosity, how many people here have formally studied debt? (Economics, finance majors / grads, credit traders, etc.?)
this is very well written review
What time dose it come out?
sorpport you
What time dose it come out?
sorpport you
It's out already. That's why I could write the review.
this is very well written review
What time dose it come out?
sorpport you
What time dose it come out?
sorpport you
@ Dr Bloggood
I changed my mind and decided to buy Rickards' book. So far, I am finding much better than I had thought it would be. I have read a lot of doomer-financial stuff, but Rickards looks like he is very much on top of the game as well as being well-connected.
I'll report back with my own review when I finish it, but it has kick-started some ideas that I will think about and share here if they seem to be good.
I changed my mind and decided to buy Rickards' book. So far, I am finding much better than I had thought it would be. I have read a lot of doomer-financial stuff, but Rickards looks like he is very much on top of the game as well as being well-connected.
I'll report back with my own review when I finish it, but it has kick-started some ideas that I will think about and share here if they seem to be good.
Yeah, go ahead and let us know what you think when you are done reading!
[...]
There is a massive level of overcapacity in manufacturing in the world. China's manufacturers are learning how to sell direct, check out http://dhgate.com
[...]
There can never be. We want maximum production, at least per hour worked. It is the purpose of the economic system. There can only be production of the wrong things. In the market, this will be adjusted by the price signals. A company goes bust, leaving the resources for a better adapted company.
GM has stuffed the distribution channel with nearly a million cars. It is not on their balance sheet. This can only happen if there is a major price distortion. My guess is that they give the distributors loans, backed by gifts from their government friends. If nothing more, just an implicit guarantee of a future bailout could have been enough.
seems an interesting book
@ Dr Bloggood
I changed my mind and decided to buy Rickards' book. So far, I am finding much better than I had thought it would be. I have read a lot of doomer-financial stuff, but Rickards looks like he is very much on top of the game as well as being well-connected.
I'll report back with my own review when I finish it, but it has kick-started some ideas that I will think about and share here if they seem to be good.
EDIT:
@ AnonyMint
I too believe that China will crash hard, and that Germany is at great risk (as is the USA). Many old models are likely to collapse. Debt is a killer.
I would agree that there is worldwide overcapacity in most products. That does not seem to be the case for "tapered roller bearings", we cannot get enough (from Korea anyway).
@ all
Zero Hedge today had a piece on Japan's national debt reaching 1.02 quadrillion Yen...:
http://www.zerohedge.com/news/2014-05-10/japan-debt-update-%C2%A5102000000000000000
***
Disclosure: our Chinese car wheel bearings sell very well in Peru.
I changed my mind and decided to buy Rickards' book. So far, I am finding much better than I had thought it would be. I have read a lot of doomer-financial stuff, but Rickards looks like he is very much on top of the game as well as being well-connected.
I'll report back with my own review when I finish it, but it has kick-started some ideas that I will think about and share here if they seem to be good.
EDIT:
@ AnonyMint
I too believe that China will crash hard, and that Germany is at great risk (as is the USA). Many old models are likely to collapse. Debt is a killer.
I would agree that there is worldwide overcapacity in most products. That does not seem to be the case for "tapered roller bearings", we cannot get enough (from Korea anyway).
@ all
Zero Hedge today had a piece on Japan's national debt reaching 1.02 quadrillion Yen...:
http://www.zerohedge.com/news/2014-05-10/japan-debt-update-%C2%A5102000000000000000
***
Disclosure: our Chinese car wheel bearings sell very well in Peru.
Actually, Germany may very well be an epicenter for the collapse of the Euro. Why? Because they are a massive creditor. During debt implosions, creditors take huge losses. Creditors tend to watch their economies contract much steeper then debtors. German manufacturing firms are loaded to the hilt with operational debt. Germany continues flooding the world with excess production of vehicles, equipment etc. All financed by debt. The German state itself is not in good shape because of simple demographics. Do you really think all those young Mohammed's in Germany will willfully pay the pensions of Mr and Mrs Hanz?
Germany has imploded it's own economy about 4 times in the last 100 years alone, including some of the worst hyperinflation ever recorded. Let's not forget the wealth loss they are responsible for via 2 world wars. Don't let their propaganda fool you.
Germany has imploded it's own economy about 4 times in the last 100 years alone, including some of the worst hyperinflation ever recorded. Let's not forget the wealth loss they are responsible for via 2 world wars. Don't let their propaganda fool you.
There is a massive level of overcapacity in manufacturing in the world. China's manufacturers are learning how to sell direct, check out http://dhgate.com
DHGate holds the funds until the shipped products are received. Thus you can deal confidently with direct suppliers of Chinese manufactured goods.
Watch out Amazon.com! Your days are numbered.
Germany has a negative population growth rate.
Germany's over engineers things and their Cathedral model and culture is not well adapted to fast changing Bazaar type of future of R&D.
Some Germans are so anal, they even write down every item they purchase for home use in a ledger. And some look down on other people as inferior. I have German ancestry (mixed with others) so I understand that perfectionist mindset (I have it on call), but I am thankful I am a mix of cultures so I can adapt.
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Creditors tend to watch their economies contract much steeper then debtors.
This ignores their production. They dont have to sell to Europe, the arabs will still have oil, the Russians gas and so on. In the end people sell so they can buy what they need, so the fact Germany has products to export on a regular basis is always going to be a good thing.
I take the point those best off have more to lose in a way but they arent holding a golden egg, they have the hen :p If europe screws up, or uk or USA then they'll be others with more then just credit notes to hand over and Germany or anyone who produces will be best placed to continue forward.
The mistake Merkel made was being too much in fear of bad debt. Always there must be focus of what works, the death of a bad company is needed like a tree must be cut back to keep new growth in the right direction.
All of this bailout is to support what has not worked, is not working and in future it still wont be productive so why spend so much to get so little back. True growth is exponential, 2008 till 2014 and this kind of return is missing presumed dead but its out there
That sounds very reasonable, they are holding the hen! That only helps once they close the "hole in their barrel" and stop paying for the southern countries though.
I have heard rumours Merkel wants to change course, maybe something will happen after the EU elections.
Quote
Creditors tend to watch their economies contract much steeper then debtors.
This ignores their production. They dont have to sell to Europe, the arabs will still have oil, the Russians gas and so on. In the end people sell so they can buy what they need, so the fact Germany has products to export on a regular basis is always going to be a good thing.
I take the point those best off have more to lose in a way but they arent holding a golden egg, they have the hen :p If europe screws up, or uk or USA then they'll be others with more then just credit notes to hand over and Germany or anyone who produces will be best placed to continue forward.
The mistake Merkel made was being too much in fear of bad debt. Always there must be focus of what works, the death of a bad company is needed like a tree must be cut back to keep new growth in the right direction.
All of this bailout is to support what has not worked, is not working and in future it still wont be productive so why spend so much to get so little back. True growth is exponential, 2008 till 2014 and this kind of return is missing presumed dead but its out there
Thanks op for your review
Thanks a lot, Doc, i think you save me much time.
No prob. I wish I had saved myself that time, as I was reading the book for the better parts of 4 days... But hey, I also took something with me from it.
Dude, keep your cool and read that phrase you quoted and my OP again carefully! Your anger is making you adress the wrong people. I would say 0,7% is pretty rocking compared to what's happening in Spain, Italy, Greece or Portugal.
I'm basically of your opinion, and I think this could be as bad or worse than the great depression. You are smarter than me, because you know it will start exactly in 2015 (so 7th of May 2015 or what) and know exactly how bad it will be. I don't know when it will start or how bad exactly it will become.
I'm basically of your opinion, and I think this could be as bad or worse than the great depression. You are smarter than me, because you know it will start exactly in 2015 (so 7th of May 2015 or what) and know exactly how bad it will be. I don't know when it will start or how bad exactly it will become.
I am not angry. I am trying to wake you up from your complacency.
What part of 200 year debt highs do you fail to grasp?
Can you read?
Do you seriously suggest things are as bad in Germany as they are in Italy, Spain or Greece?
This ego shit is too stupid, let's not continue this.
Actually, Germany may very well be an epicenter for the collapse of the Euro. Why? Because they are a massive creditor. During debt implosions, creditors take huge losses. Creditors tend to watch their economies contract much steeper then debtors. German manufacturing firms are loaded to the hilt with operational debt. Germany continues flooding the world with excess production of vehicles, equipment etc. All financed by debt. The German state itself is not in good shape because of simple demographics. Do you really think all those young Mohammed's in Germany will willfully pay the pensions of Mr and Mrs Hanz?
Germany has imploded it's own economy about 4 times in the last 100 years alone, including some of the worst hyperinflation ever recorded. Let's not forget the wealth loss they are responsible for via 2 world wars. Don't let their propaganda fool you.
You are painting a pretty dark picture there. Who knows whqat might happen. As I said, Germany is gonna get dragged down with the rest of the countries sooner or later.
Obviously, I was talking present tense though. Things in Germany look pretty normal at the surface (at the moment, at the very present time as we are speaking)! People are becoming increasingly desperate in Greece, Italy and Spain, but they are not desparate at this time, right now, in Germany.
Dude, keep your cool and read that phrase you quoted and my OP again carefully! Your anger is making you adress the wrong people. I would say 0,7% is pretty rocking compared to what's happening in Spain, Italy, Greece or Portugal.
I'm basically of your opinion, and I think this could be as bad or worse than the great depression. You are smarter than me, because you know it will start exactly in 2015 (so 7th of May 2015 or what) and know exactly how bad it will be. I don't know when it will start or how bad exactly it will become.
I'm basically of your opinion, and I think this could be as bad or worse than the great depression. You are smarter than me, because you know it will start exactly in 2015 (so 7th of May 2015 or what) and know exactly how bad it will be. I don't know when it will start or how bad exactly it will become.
I am not angry. I am trying to wake you up from your complacency.
What part of 200 year debt highs do you fail to grasp?
Can you read?
Do you seriously suggest things are as bad in Germany as they are in Italy, Spain or Greece?
This ego shit is too stupid, let's not continue this.
Actually, Germany may very well be an epicenter for the collapse of the Euro. Why? Because they are a massive creditor. During debt implosions, creditors take huge losses. Creditors tend to watch their economies contract much steeper then debtors. German manufacturing firms are loaded to the hilt with operational debt. Germany continues flooding the world with excess production of vehicles, equipment etc. All financed by debt. The German state itself is not in good shape because of simple demographics. Do you really think all those young Mohammed's in Germany will willfully pay the pensions of Mr and Mrs Hanz?
Germany has imploded it's own economy about 4 times in the last 100 years alone, including some of the worst hyperinflation ever recorded. Let's not forget the wealth loss they are responsible for via 2 world wars. Don't let their propaganda fool you.
$7000 Gold will never happen.
Long before that the banking system would have already imploded.
Jim Rickard's is a typical dooms day hack. These guys are all over the place pumping gold and their own books. Ironically they all seem to be reading the same tea leaves or something.
Long before that the banking system would have already imploded.
Jim Rickard's is a typical dooms day hack. These guys are all over the place pumping gold and their own books. Ironically they all seem to be reading the same tea leaves or something.
Thanks a lot, Doc, i think you save me much time.
A question I ask myself is whether any upcoming crisis will follow the pattern of previous ones or will it be 'new'?
Both.
On one hand, history always repeats itself. Human psychology stays exactly the same.
On the other hand, the mistakes made now are very different from the mistakes made in, say, the great depression. People learn from the old mistakes and make differnt new ones. Conditions are a bit different too. So it can't be exactly the same.
It's all very complicated...
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