Saturday, October 25, 2008

NOW HERE'S A REALLY INTERESTING READ.

Well Fargo's Chmn thinks a lot like we do. Very revealing about his belief that a hard-fast bottom is best. He gets that. For him, that would be six months from now. Wow! But all he wants to do is reignite the old infinite growth paradigm and he doesn't get Peak Oil.

http://www.businessweek.com/print/magazine/content/08_44/b4106000649486.htm

MCR

11 comments:

Dana said...

Thanks for your constant vigilance on these issues. I know this would be old "news" to you, but it might provide some useful background (if generally philosophical and not as specifically "on point" as your information) for those who are less well versed on the overarching social and economic issues at work. It doesn't talk about peak oil (except for a quick graph, showing the global oil production bell curve), but the idea of the infinite growth paradigm is discussed and, dismissed. If you find it to be misinformation, by all means, delete it. Um, and tell me so, because I'm given to agree with it!

Money As Debt

Rice Farmer said...

General Electric has urgent need for cash
http://www.bloomberg.com/apps/news?pid=20601009&sid=aDJkIbQuQxFc

businessman said...

Any economic forecast by so-called "experts" is completely irrelevant if the person is completely unaware of, or doesn't understand Peak Oil. Just take the forecast and throw it in the garbage can, which is where most of these people's forecasts belong nowadays.

Making a positive forecast for the economy without any knowledge of Peak Oil is like arriving at the beach at 10:00 a.m., sitting down on your towel and commenting on what a lovely day it's going to be, and being completely unaware that there's a tsunami coming at you in just 30 minutes.

winstonsmith said...

So Mike
what are your thoughts on his 6 month time frame? Particularly as it might pertain to social collapse?
To me all this seems to be moving pretty damned fast. There are already mass lay offs in Britain. If civil dissorder starts, It's not going to wait for the market to bottom out, surely. Once TSHTF Wall Street's done isn't it? Or am I misreading this?

Rice Farmer said...

Airlines experience 'alarming' drop in passengers
http://www.canada.com/topics/news/story.html?id=bb60e317-df17-4be4-b07a-af79cdabbaf0

Look at this. The systemic wind-down is proceeding very quickly. The US government is blowing its wad, and elites are busy stuffing their pockets. Where will the US get all the money (and energy) it needs to keep traffic infrastructure in repair, upgrade and repair the electric grid, and generally prop up industrial civilization? Kiss the Gilded Age goodbye. Kiss entitlements goodbye. We are now making the transition to a lower energy level.

OakHeart said...

it is illegal tom pay tax in ANY country of tyhe world, until a GLOBAL STATE OF EMERGENCY is declared for the environment

http://www.ecotort.gn.apc.org
http://ecotort.blogspot.com

OakHeart said...

any contract to damage or destroy the environment is a contract to commit "Aggravated Criminal Damage" (damage or destro0y ANY property with intent to endanger life, or being reckless as to whether life would be endangered - max LIFE SENTENCE)
http://www.ecotort.gn.apc.org

http://en.wikipedia.org/wiki/Criminal_Damage_Act_1971#Aggravated_criminal_damage

eg, any contract between muilti-national corporations, the world bank, the IMF etc to name a few...!

Peter J. Nickitas said...

Jenna:

I posted an article with a link to a Reuters article on the People's Daily (PRC) attack on the dollar. Did you get it? I thought I put my screen name on it.

Peter J. of Minneapolis

FTW admin said...

peter, the last one i remember from you was in the baseball thread.

FTW admin said...

peter, the last one i remember from you was in the baseball thread.

Rice Farmer said...

`Biggest Bubble of Them All' Is Globalization
http://www.bloomberg.com/apps/news?pid=20601109&sid=asRq2L_zxsS0&refer=home

A new word in the business lexicon is "reverse globalization."

Airlines experience 'alarming' drop in passengers
http://www.canada.com/topics/news/story.html?id=bb60e317-df17-4be4-b07a-af79cdabbaf0