From this linked CNN story on today's jobs report.
"The economy is now deteriorating with frightening speed and ferocity- it's truly horrific," said Bernard Baumohl, chief economist at the Economic Outlook Group. "We'll see significant declines going forward."
Now add that to the fact that a spokesman from the Bureau of Labor Statistics testified in the House today that this was the single worst jobs report in history. One member asked, "How long have you guys been keeping records?" The answer: "124 years."
BUT the DOW rose 274 pts. today based upon investors "hoping for a brisk holiday season."... A brisk holiday season??????????????????????
That's about as stupid as asking Peak Oil activists to stop flying to conferences. Yeah right! Let the bad guys who are running us off a cliff use all the best and most powerful means of accomplishing goals available, then relegate us trying to save things to the 19th Century. That was a classic example of stupid Progressive thinking. No, it won't make any difference whether any of us stops flying or not. The math is so far out of line that... we'll, you'll have to read my new book. And if my book does well I will fly as fast as I can to promote it and to get where I need to go. For me, I am making full use of the energy while we have it. I am also enjoying a few energy luxuries while they're still available. There's a well-known peaker who refuses to fly or do any number of commonplace things. He's a good guy but I wonder if he knows how many conferences he screwed up by making everyone wait for him.
The logic of that is about the same as risking the entire species going extinct in order to NOT deal with a dieoff that is scientifically inevitable, very predictable, and massively documented in many other species throughout history. The chaos that will result from this approach is... is... suicidal. And we on this list, and throughout the Peak Oil movement, are not. The idea is to save as many lives as possible. For those of us who have been at this for many years I can say that it's real hard to save people's lives until someone admits that they are in danger.
Correction: Biolabs only go up to Level Four. Thanks Mark.
Have a good weekend. "The economy is now deteriorating with frightening speed and ferocity - it's truly horrific." ... Man is that a mouthful!
Go out. Party. Take a long drive. Make love. Make someone smile. Make yourself smile.
[Mary, I think I love you. Please keep posting. You too Victoria. Rice Farmer, my brother, you are just a big solid rock. Businessman, I miss ya.]
And while we're mouthing off at irksome comments, below is a paraphrase of some correspondence with a person important to me; otherwise I wouldn't bother trying to convince one who so obviously wishes to remain HUA: (That one's hard to get by googling but you can guess. I did, when Mike first used it. It's a cops' term for a distracted driver.)
FTW, the blog and other writers correctly foresaw the Balkanization of Iraq, the disintegration of poorer countries such as Zimbabwe, the "recession," the heightened tension between India and Pakistan and the steep and inexorable decline in oil production reported by the IEA last month, among other symptoms of global disaster too numerous to go into.
What do you think collapse looks like in the beginning? People on Madison Avenue looting Ralph Lauren? The U.S. has a financial situation that even the mainstream media are now comparing to the Great Depression and worse. The Peak Oilists warned of this years ago, remember?
To compare us to apocalyptic cults is superficial, arrogant bait. It derives from a wish to be cool by being a wiseass. Mark Twain said words to the effect of: "When I was fourteen, I thought my father was an idiot. When I was twenty-one, I found it remarkable how much wisdom the old man had acquired in seven years."
If you want to achieve cool, read and find out actual facts instead of being an armchair critic who dismisses with a snarky soundbite. Don't follow the crowd; lead them.
"Shares in Julius Baer have lost some 60 percent in 2008 as markets have worried about outflows at its hedge fund GAM, which accelerated in October."