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Author Topic: This is the way the world ends  (Read 117495 times)

iloilo

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Re: This is the way the world ends
« Reply #45 on: October 06, 2008, 03:44:43 pm »

Apropos of this topic, I've ordered "It Can't Happen Here" by Sinclair Lewis (not a great book, but applicable) and "The Black Obelisk" by Erich Maria Remarque.  I used to have both...and may still, but most of my books are still in boxes and I need to reread these books NOW.

Might make sense to reread Eliot as well. 

I have a major fear of gas rationing.  Anybody else had these thoughts?

Spatter


A bit concerned about gas rationing: getting a new mountain bike this week, and also stocking/renewing some gas supplies for the chainsaws, etc.
ff
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Hollywoodgold

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Re: This is the way the world ends
« Reply #46 on: October 06, 2008, 09:42:03 pm »

Apropos of this topic, I've ordered "It Can't Happen Here" by Sinclair Lewis (not a great book, but applicable) and "The Black Obelisk" by Erich Maria Remarque.  I used to have both...and may still, but most of my books are still in boxes and I need to reread these books NOW.

Might make sense to reread Eliot as well. 

I have a major fear of gas rationing.  Anybody else had these thoughts?

Spatter

Matthew Simmons recently stated that conditions exist where we could be within 3 days of a gas crisis if supplies were disrupted. In that event, JIT (Just in time) supplies would break down and food would have difficulty making it to market. So, yes, others have had those/these thoughts.

DS
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Lisa Aenne

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Re: This is the way the world ends
« Reply #47 on: October 07, 2008, 03:50:02 pm »

I've been worried about a gas crisis, too.  Regarding food supplies, I have a suspicion that interruptions of those supplies are already occurring at some level.  I went to the store yesterday to get some fresh fruits. veggies and eggs.  When I saw the state of the shelves (so many were empty and next to empty), I decided to stock up some more on the basics. I've been doing that for the last few weeks when I have some extra cash I could somewhat spare. I spent way more than I'd planned on, but it's all in food and supplies like tp that'll hold us over for a while if need be.

The stuff being wiped were inexpensive survival type stuff:  cans of tomato products, dehydrated potatoes, crackers, cans of tuna, mac and cheese dinners, flour and sugar, chicken, pasta, duraflame logs, canning supplies.
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spatter

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Re: This is the way the world ends
« Reply #48 on: October 07, 2008, 04:43:35 pm »

The aspect that concerns me is the possibility that we'd all have to line up and "prove" to some government flunkie that we "need" a certain amount of gasoline per week or month. 

Talk about control!

Spatter
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Re: This is the way the world ends
« Reply #49 on: October 07, 2008, 04:57:56 pm »

Doesn't this gas crisis play into the hands of Iran and Russia?  All they have to do is slow down the supply 10-15% and the rest of our economy is toast. 
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ShortyDawkins

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Re: This is the way the world ends
« Reply #50 on: October 07, 2008, 05:59:43 pm »

Iran is nothing. The real worry is China. China holds more of our debt that anyone (except England, I believe). What if they sell our debt en masse? We're toast. Or even if they just stopped buying our debt. We're toast.

Shorty Dawkins
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vonuvan

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Re: This is the way the world ends
« Reply #51 on: October 07, 2008, 07:42:32 pm »

IMHO, the only way China would quit buying our debt is if we stop buying their exports.
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Hollywoodgold

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Re: This is the way the world ends
« Reply #52 on: October 07, 2008, 09:05:32 pm »

I've been worried about a gas crisis, too.  Regarding food supplies, I have a suspicion that interruptions of those supplies are already occurring at some level.  I went to the store yesterday to get some fresh fruits. veggies and eggs.  When I saw the state of the shelves (so many were empty and next to empty), I decided to stock up some more on the basics. I've been doing that for the last few weeks when I have some extra cash I could somewhat spare. I spent way more than I'd planned on, but it's all in food and supplies like tp that'll hold us over for a while if need be.

The stuff being wiped were inexpensive survival type stuff:  cans of tomato products, dehydrated potatoes, crackers, cans of tuna, mac and cheese dinners, flour and sugar, chicken, pasta, duraflame logs, canning supplies.

LA:

What you describe on the grocery shelves is very similar to what occurred during IKE on the Gulf Coast. Cheap, easy to prepare, often pre-prepared foods requiring low energy input typically with a high sugar and/or carb level disappeared quickly. I thought this to be the case because of the large number of people leaving cities and driving through to camp grounds and other make-shift environs. I am a little surprised to hear you describe these conditions today. What region of the country are you residing in?

Very interesting.

BR/DS
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Silver

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Re: This is the way the world ends
« Reply #53 on: October 08, 2008, 09:29:10 am »

The central banks of the world are coordinating a 0.5% rate cut, putting the loan rate to their friends well below the rate of inflation.  They are literally paying (some) people to borrow money.

The central banks are circling the wagons. Their citizens are in the center.  Now they are firing hyperinflationary bullets inwards.
British Treasury will make at least $437 billion available to banks.

Peace,

Silver
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vonuvan

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Re: This is the way the world ends
« Reply #54 on: October 08, 2008, 07:56:56 pm »

The central banks of the world are coordinating a 0.5% rate cut, putting the loan rate to their friends well below the rate of inflation.  They are literally paying (some) people to borrow money.

The central banks are circling the wagons. Their citizens are in the center.  Now they are firing hyperinflationary bullets inwards.
British Treasury will make at least $437 billion available to banks.

Peace,

Silver

The Aussies must have missed the meeting, they did a full percent, and are expecting the banks to pass it all on, which none are.
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Silver

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Re: This is the way the world ends
« Reply #55 on: October 11, 2008, 08:42:48 am »

The latest Federal Reserve H3 report shows another giant leap in the monetary base, another 8.2% in the past 2 weeks, on top of the 7.65% increase Sept 10-24.

Lew Rockwell blogged
Quote
It's the end of the world as we know it
"And I feel fine." Well, not quite. The pleasures of saying "I told you so" have always been overrated, but they're non-existent these days as the parasite politicians and central bankers, and their willing enablers, non-Misesian economists, wreck the world. Then they use the wreckage as the excuse for vaster inflationism, fascism, and socialism. But in the maelstrom, we have a job, aside from protecting ourselves and our families to the best of our abilities. That job is to teach the truth about the crimes and consequences of the state, the empire, central banking, and fractional reserves. The truth is the necessary foundation of the restoration
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Peace,

Silver
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Claire

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Re: This is the way the world ends
« Reply #56 on: October 11, 2008, 08:56:58 am »

A touch of encouraging news. A FoxNews poll shows that not only do a majority  continue to oppose the Big Bailout, but that:

Quote
A majority of voters (53 percent) thinks the bailout package shows that government leaders "have no idea what they’re doing." More remarkably, only 6 percent believes officials "know exactly what they’re doing and how the rescue plan will affect the economy." While the continued low ratings of both the president and Congress indicate a lack of confidence in Washington, these results are nevertheless staggering.

and

Quote
A 53 percent majority thinks government involvement is not part of the solution at all, but part of the problem. This view is more intense among Republicans (69 percent) and independents (59 percent)—though a large minority of Democrats (40 percent) also views government involvement in a negative light.

http://www.foxnews.com/story/0,2933,436041,00.html

Other encouraging news in the poll, as well. If the results mean anything, support for limited government may be growing, even among Dems.

I'm actually surprised that a whopping 6 percent thinks the fedgov knows what it's doing in this case.  :rolleyes:

The loathing of Rs for the program of their own party also presages interesting things for the future. Might the R's, deservedly, go the way of the Whigs?

Claire
« Last Edit: October 11, 2008, 10:36:17 am by Claire »
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penguinsscareme

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Re: This is the way the world ends
« Reply #57 on: October 11, 2008, 10:33:09 am »

Quote
I'm actually surprised that a whopping 6 percent thinks the fedgov knows what it's doing in this case.

I'd be curious to know what percent of those polled suffer from senility or other dementia...
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Claire

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Re: This is the way the world ends
« Reply #58 on: October 11, 2008, 10:45:41 am »

Hans Sennholz has an article this morning linked from LewRockwell.com that perports to explain the German hyperinflation of the 1920s.

It's an interesting enough article about part of the impact and the genesis of the catastrophe. And it's fascinating to see how "experts" of the day tried to claim that no inflation was actually under way!

Unfortunately, I still don't get something very basic and Sennholz doesn't help. I see how non-hyper inflation begins and grows. But despite Wikipedia, Sennholz, and the econ mavens of TMM, I don't grok how garden-variety, sneak-the-money-out-of-their-pockets inflation goes that wildly out of control.

Can anybody explain the moment, the mechanism, the why, the wherefore of that moment when inflation goes totally mad? It's obvious to me that garden-variety inflation like we've seen in the last 95 years is very deliberate, very carefully planned. Hyperinflation is clearly just mad desperation. So what is the trigger factor? How do those oh-so deliberate money masters become panicked servants of the printing press?

Claire
« Last Edit: October 11, 2008, 10:50:24 am by Claire »
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Just as the flattery of friends often leads us astray, so the insults of enemies often do us good. -- St. Augustine, Confessions, Book IX, Chapter 8


When faith ceases to be a challenge to the standards of polite society, it is no longer, or has not yet become, faith. -- Donald Spoto, Reluctant Saint:  The Life of Francis of Assisi


My life is my message. -- Gandhi

vonuvan

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Re: This is the way the world ends
« Reply #59 on: October 11, 2008, 11:45:52 am »

I would think that all price inflation would lag the causative currency inflation by a certain amount of time, but I'd be blind guessing as to how to judge the lag, or its factors.
IMHO, all value is safest held in gold and silver, in actual possession, until another commodity is needed.
There is probably a bunch of stuff in the LRC archive about this.
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