If you pirate music, you're downloading communism!

[mary]

Such cheery news, no surprises though. I don't think our votes mean much to
the wider world run by a few corrupt individuals, and corporations. The mass
discontent is so real I can feel it, and I think it's going to get a lot
worse before it gets better. Hopefully, within my lifetime, there'll be
another upswing in the economy, but I doubt it. I really hope I'm wrong.
Bill, start buying those gold bars. For years I've been hearing about there
being a lot more money on paper than what can be accounted for in reality.
What a mess. I know, nothing new here.  I want to be aware of what's
happening, but when it involves things I can't change I filter it out, and a
lot of the news is too disturbing.  I'm not an ostrage,  ignorance isn't
usually bliss, it's stupid.
I always learn a lot from reading your postings.  Many thanks.

Mary


Mary



-----Original Message-----
From: BOC/Hawkwind Discussion List
[mailto:BOC-L at LISTSERV.ISPNETINC.NET]On Behalf Of M Holmes
Sent: Friday, April 03, 2009 7:34 AM
To: BOC-L at LISTSERV.ISPNETINC.NET
Subject: Re: If you pirate music, you're downloading communism!


Stewartbas at AOL.COM writes:

> Mike ain't lying. I recall a conversation I had with him, in some danky
gin
> mill, deep in the bowels of NYC, probably a decade ago, and he did predict
the
>  current financial crisis.  What should I do with the remainder of  the
not
> so vast Stewart fortune, Mike? And don't say put it in the  mattress, I'm
> sleeping on the floor :( .

Gold, though if deflation gets severe, it'll be necessary to bail from
that too. Cash should do OK. Corporate bond funds should outperform
equities on average during the bear market, though individual
corporations will be hit by bankruptcies through not being able to roll
over debt, or through chain defaults.

> Predictions?

Manufacturing and retail are going to be hit hard this year.  The
housing bust will continue in 2009 and 2010.  It *might* finish in 2011
or 2012.  The US will be hit by trouble on Alt-A and Option-ARM
mortgages over the next couple of years.  Meanwhile the banks are now
gonna get hit by bad car loans and bad credit card loans, and the
asset-backs and CDO's they built on those the way they did on mortgages.
The problem there was that the credit card companies kept the proportion
of bad loans down by growing the business faster than the loans grew
bad. In a debt-deflation, they won't be able to do that, and so the
ratio of bad loans is gonna rocket. As with mortgage-back CDO's, there's
effectively a trigger point in that ratio where the CDO's themselves
become functionally worthless. Lather, rinse and repeat for the credit
crunch...

> Sorry to read they smashed up the Bank of Scotland yesterday,
> but hey, a little revolution is a good thing----No?

The best thing to do would have been to let 'em all go under. It'd hurt
more, but we'd get through the mess quicker. The pols are bailing out
the bankers the way Japan did in 1989 when their bubble burst. They're
still not through their mess. Basically it's been decided that instead
of a 5 year depression, we'll have a 20 year recession. It'd have been
nice to at least have a vote on that.

FoFP

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