Mish Talk

I am a big fan of Mish's Economic Analysis blog. He has covered the topic many times. http://globaleconomicanalysis.blogspot.com/ (Make sure to read comments, and be very careful - your legal leeway differs greatly from state to state). Also, google "Intentional Foreclosure" or "Strategic Default" + "your state".

http://globaleconomicanalysis.blogspot.com I'm interested if you can name one mainstream economist or economic commentator, especially a famous one, who comes even close to being as factual and prescient as Mish. This is just one site...the blogosphere was all over the impending economic collapse for years, while the mainstream economic journalists, many with economics degrees, had it exactly backwards. And if your retort is that it wasn't a big deal, all is well now, I recommend you do more reading and decide for yourself if that is true.

The dollar demise seems to be in vogue nowadays thanks in no small part to QE I and II. I guess it makes for good headlines, especially when gold is over $1430. To those of you that may be interested in financial commentaries outside of mainstream I suggest the following: - Mish [1] - The automatic earth [2] - Max Keiser [3] - Jesse's Café Américain [4] These can be classified more or less so in three different camps: inflationist, deflationist, and stagflation. But inflation/deflation here does not mean price increase, but credit expansion/contraction. Also, these blogs are all against the status quo, hence their non-mainstream designation. For that there is WSJ. For starters, at the automatic earth [2], Illargi and Stonleigh give very detailed analysis of the current situation taking into account credit availability and peak oil for example. They argue that we will hit a deflation period (i.e., credit contraction) before any hyperinflation destroys the dollar. Mish [1] is also in the deflationist camp and provides excellent commentary on current financial news. US centric but with good international coverage. Max Keiser [3] is an inflationist. I believe that he has called correctly gold and silver trends (up and up) for the past decade. He’s a very vocal anti-to-big-to-fail commentator. I think that he’s currently spearheading a movement to get people to buy silver bullion in order to put JP Morgan out of business given their alleged silver shorts. Mish, while a good…

Just because idiots use an argument doesn't mean the argument is stupid. 30 seconds of Googling brings up this article [1] (a secondary source, primary sources are Bloomberg and Washington Post), discussing the impression that doctors are performing/suggesting unnecessary, yet expensive surgeries/treatments. Even if it turns out not to be true (after proper research), it's an argument worth considering in any situation that involves financial incentives not aligned with the desired outcome. [1]: http://globaleconomicanalysis.blogspot.co.uk/2013/10/unnecessary-surge…

> So that's my gut feel as well, but I don't have a good handle on the economic & market information as to why that might be so. Welcome to Reality. The mainstream media is just misleading / propagandizing you - if you want the truth, you'll have to turn to "alternative" sources. > Can you expand? Peter can: http://www.youtube.com/watch?feature=player_detailpage&v=RpfUg1cpu… Here's another good source: http://globaleconomicanalysis.blogspot.com/

Yes, and Japan, the country he's held out as a great Keynesian success in the past, is going over the falls right before our eyes: http://globaleconomicanalysis.blogspot.com/2012/12/kyle-bass-on-end-of…

If anyone is interested in topics like this I would recomend: http://globaleconomicanalysis.blogspot.com/ This is one of the top financial blogs currently. Look at articles regarding fraction reserve lending like this one: http://globaleconomicanalysis.blogspot.com/2011/03/central-bank-author…

We're already well on our way to getting nowhere with this. > Not-so-obviously, if I had qualms about my job I wouldn't be doing it. Some people are for sale, I'm not. So participating in the financial industry driving the Western world's economy off a cliff is fine, but having to work with .NET is where you draw the line? > I know these sites. They're rather juvenile These sites discuss (the economic) Reality, and what's going on in it. Trying to discredit them is logical, of course, for someone working for the financial industry. Here's someone with a more somber take on things, in case it helps: http://globaleconomicanalysis.blogspot.com/ - he's on the same page with the aforementioned two, though. > There is nothing bad about making money from financial services. No? Well, what good is there about it? How does it benefit the real economy, where people use their time and skills to produce something of value, which they then exchange for goods and services as necessary? What is it that grounds the financial industry into the real economy? In other words, in what ways is it not about making money with money? > If you stretch it a bit, you can call it "making money with money" the same as you can argue that the sole reason for any imaginable job is making money. It's not. Huh? A job is an arrangement where an employer pays someone a salary in exchange for using his time/skills in a way that benefits the employer (in a monetary sense, ultimately). For both parties…

Deflation seems more likely: Fiat World Mathematical Model http://globaleconomicanalysis.blogspot.com/2009/02/fiat-world-mathemat… Will this printing create [price] inflation? This is dependent very much on what money will do next. If banks will not lend and banks sit on that cash forever and ever like the great depression because the risk is too high and the banks do not know if the lending will end up in good assets or bad assets, and because banks are in so many bad assets now they probably will not lend at all. That is the observation that Murray Rothbard made, that during the Great Depression that banks have chosen not to lend because the risk of accumulating bad assets was far to high. So they were sitting on massive reserves. That is what is developing right now. A good example is what happened in Japan in 2001-2002 where the Bank of Japan pumped 300% at one stage and lending continued to collapse. I expect similar things to happen here. If lending will not increase we can conclude this will not be inflationary.

That is the worse advice I have ever heard. To the original poster- Nobody will care more about your own money, than you. Take responsibility for your wealth and enjoy it. Getting ahead and staying ahead involves responsibility and confidence in yourself. You will learn from mistakes and will be better for it. Personal finances and money management are important skills that are always overlooked. Based on your initial question, you already seem to have the right attitude. You will see fears of hyperinflation and fears of massive deflation in credit. There are some good economic blogs out there such as Mish's (http://globaleconomicanalysis.blogspot.com). Read a few highly rated books from Amazon. Personally, if I had $2m I would buy land, physical gold, and hold on to my currency in various banks (and physically). Remember, $2m in the bank means that your bank probably is loaning out $1.8m of it (fractional reserve banking).

Maybe they didn't underestimate the consumer as much as the Federal Reserve's desire and ability to inflate stock market valuations and other asset prices.[1] Certainly helped Silicon Valley and the unicorns, but we will see how it plays out over the next couple years. http://globaleconomicanalysis.blogspot.com/2016/01/former-dallas-fed-g…

Says former Fed governor Fisher: "We frontloaded a tremendous market rally to create a wealth effect ... The Federal Reserve is a giant weapon that has no ammunition left." http://globaleconomicanalysis.blogspot.com/2016/01/former-dallas-fed-g…

>Bitcoin is unregulated. So are cash transactions. >practically impossible to tax So are cash transactions. >unappreciated by most governments So are cash transactions [0]. >it's not going to survive if it does not make compromises and become regulated, traceable, and taxable. Bitcoin is a protocol, that can not "make compromises". Can Http make compromises? [0] http://globaleconomicanalysis.blogspot.ca/2015/03/cash-dinosaur-france…

Really? http://globaleconomicanalysis.blogspot.com/2013/11/mish-fined-8000-eur…

Some Info on GDP http://globaleconomicanalysis.blogspot.sg/2013/01/ten-reasons-for-decl…

A slow-motion run on Greek banks has been underway for more than a year. http://globaleconomicanalysis.blogspot.com/2010/02/capital-flight-out-…

> Most tax money goes toward providing defense It seems like (FY2010) 20% of Federal expenditures go toward defense, and 58% go to entitlement programs (which (I speculate) the 1% wealthiest do NOT receive disproportionate benefit from). Source: http://globaleconomicanalysis.blogspot.com/2011/03/usa-incorporated-gr… second graph

not really: http://globaleconomicanalysis.blogspot.com/2011/02/us-dollar-about-to-…

I would be skeptical of Schiff's investment advice. Look here for a rebuttal of his claims: http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wr…

"The root cause of this crisis is fractional reserve lending, and micromanagement of interest rates by the Fed in particular and Central Banks in general. The Fed started the party by slashing interest rates to 1%, but Central Banks everywhere drank the same punch to varying degrees." -- http://globaleconomicanalysis.blogspot.com/2008/10/global-coordinated-…

Mike Shedlock has some interesting background data: http://globaleconomicanalysis.blogspot.com/2007/10/what-factors-are-af…

Vancouver had a big housing bubble, and now their sales have plummeted, so I would imagine the state government might struggle a little bit. http://globaleconomicanalysis.blogspot.com/2010/07/vancouver-home-sale… However, overall Canada is in good shape financially compared to the other G20. Not alot of public/external debts. Here are the stats, as well as the other countries mentioned in the thread Canada - 833 Billions external, 75.% GDP public US - 13 Trillions external, 52.9% GDP public (~70T owed in social security/medicare uncounted) England - 9 Trillions external, 60% GDP public France - 5 Trillions external, 77% GDP public Germany - 5 Trillions external, 72% GDP public Israel - 84 Billions external, 78% GDP public Netherlands - 3 Trillions external, 62% GDP public Chile - 60 Billions external, 6.0%!! GDP public Poland - 201 Billions external, 46.5% GDP public Singapore - 19 Billions external, 113% GDP public China - 340 Billions external, 16.5% GDP public India - 223 Billions external, 58% GDP public http://en.wikipedia.org/wiki/List_of_countries_by_external_debt https://www.cia.gov/library/publications/the-world-factbook/rankorder/…

He is telling the truth. Startup: Record Number of Companies Pull Back on IPOs http://www.newsmax.com/InvestingAnalysis/ipo-offerings-companies-initi… Europe: EFSF - 133% Of German GDP To Cover All Of Europe's Bad Debt http://www.zerohedge.com/news/explaining-how-just-announced-ecb-market… Germany rejects idea of further EFSF expansion http://www.marketwatch.com/story/germany-rejects-idea-of-further-efsf-… China: Chinese growth could slow to zero in 2012 http://www.iii.co.uk/articles/18948/chinese-growth-could-slow-zero-201… Cash Crunch in China Picks Up Momentum; Chinese Economy "Teetering On the Edge" http://globaleconomicanalysis.blogspot.com/2011/09/cash-crunch-in-chin… Japan: Japanese economy contracted more severely than previously reported http://online.wsj.com/article/SB10001424053111903285704576559380092114… Japan auto lobby cuts 2011 sales outlook by 10 pct http://www.reuters.com/article/2011/09/27/autos-japan-idUSL3E7KR0RG201… US: Consumer Confidence Stagnates Near Two-Year Low http://www.businessweek.com/news/2011-09-27/u-s-economy-consumer-confi… Food stamp use rises to record 45.8 million http://money.cnn.com/2011/08/04/pf/food_stamps_record_high/index.htm Overall: Are We Headed Into A Recess/Depress-ion? The Answer In 9 Simple…