Comments on: I Think I’m Turning Japanese, I Really Think So

By: Innocent Bystander

Innocent Bystander — Thu, 27 Nov 2008 02:22:55 +0000

We passed Japan’s model about 10 miles ago.

The Treasury said they are going to dump money into companies directly (hoping they hire and not hoard like the banks did).

Good Luck

By: jstanley01

jstanley01 — Wed, 26 Nov 2008 17:44:01 +0000

Japan was, and is, a nation of savers. We aren’t. The problem isn’t debt, per se. It’s that debt has been rising faster than income, which is unsustainable. The mortgage crisis is only a “for instance” of what happens. Adding more is nuts. Not only is it not going to work, it’s going to blow up the economy.

By: JAllen

JAllen — Wed, 26 Nov 2008 15:08:34 +0000

Well, since you’re (we’re) turning Japanese, here’s what we are in for:

I think I’m turning Japanese
I really think so

No sex, no drugs, no wine, no women
No fun, no sin, no you, no wonder it’s dark
Everyone around me is a total stranger
Everyone avoids me like a Psyclone Ranger
Everyone…

That’s why I’m turning Japanese…

- Fortunately, this will not happen. We will refuse to feel Fleckenstein’s “enormous amount of pain for everybody” and BAIL, bail, bail. And if that doesn’t work, we will bail some more.

It’s not so difficult.

JAllen

By: Nate G

Nate G — Wed, 26 Nov 2008 14:38:10 +0000

There will be no revolution or revolt. The masses were fed “American Idol” and “Dancing With The Stars” and didn’t even realize the Constitution was being shredded by the Executive Branch. They’ll come up with a bigger stimulus rebate next year so everyone can have a 56″ HDTV in their tent or cardboard box with brand new programming (all in glorious digital bandwidth) to blow our minds and keep us numb.

By: Norman Ball

Norman Ball — Wed, 26 Nov 2008 14:32:19 +0000

You’ve been on-the-money with your out-of-the-money commentary Mr. M. I quote you here in a recent Potomac essay:

http://thepotomacjournal.com/np-NormanBall2.htm

Here’s to being able to turn positive again at some point in our natural lives.

By: Laker

Laker — Wed, 26 Nov 2008 06:27:43 +0000

On Tuesday Morning On the Boldson (Paulson) speech. He said the government will do anything it can to ease the borrowing so that people could finance their daily expenses. I REPEAT. “ease the borrowing so that people could finance their daily expenses”

My question is, why do people need to borrow money to pay their daily expenses? Why do i need to loan money to buy food, gas and pay the cell phone bill??? Is paying for food and gas out of the paycheck/checking account/pocket cash is a bed thing. So the lucky have access to credit cards to pay for gas at 10% APR. The unlucky/deadbeats/poor credit got to payday advance and pays 200% interest to pay for bills….

Why don’t the government get people to pay their bills from their money! Stop borrowing to spend. If you don’t have the money don’t buy it. Market is behaving normally when credit is contracting, but government is trying to mess with the natural forces….

By: Dick

Dick — Wed, 26 Nov 2008 06:03:11 +0000

I’ve been reading and watching all the media about the bailout and how we are all screwed for the next couple of years. I had agreed with everything that was said and I believed the doomed outcome for our economy.

That was until just recently. Let me run this by Mr. M and the rest of the folks here. Isn’t the world different now? Specifically, the Berlin wall is down and we have the BRIK countries who all have capitalism economies. This is tremendous. Everyone I shocked about how our debt is growing out of control. But, wait a minute. Everything grows larger over time. This of a cup of coffee you bought in 1980 vs. a cup of coffee you would buy today. The price went up. So too has our debt. It should GROW. We are not just the U.S. anymore but a global economy.

I also hear things like “we don’t produce anything” and therefore were are screwed. We do produce things but the U.S. has evolved to a service economy, which is a reflection of a sophisticated labor force. We have Dr., Consultants, Tax and accounting professionals and I hate to say it bankers. All much more higher educated then a person in China building a toy for a 2 year old.

The U.S. is an economic powerhouse. Other countries come to us for things that no other country has.

So, relax people and give all of us a break on the doom and gloom thing. We ran the debt up before and we managed to get it under control. The same will happen again.

By: Graham

Graham — Wed, 26 Nov 2008 04:45:13 +0000

There is no need to worry about quantitative easing even if the liquidity produced is not sterilised and hence results in ‘printing money’.
The Fed will not permit the normal measures of money supply to grow in a way that could even begin threaten surge in inflation. Long before that they would take back the liquidity (sterilise) For now we are likely to need it to avoid deflation and ensure banks are not constrained when they wish to lend.

This what the Fed should have done in the early 30s (along with fiscal expansion from government….they did the opposite).

If there was no such monetary action, a fiscal squeeze and increase trade controls, then some of these doomster commentators might have the start of an argument.

Mr M. Please put up the link to the Bernanke paper

By: ex_owner_now_renter

ex_owner_now_renter — Wed, 26 Nov 2008 03:24:53 +0000

OD.. the revolution already started! The consumer is in control.. is’s 70% consumer based economy! wake up.. a lot of us already have!

By: od

od — Wed, 26 Nov 2008 02:42:23 +0000

Don’t count on a revolution. Who are you going to revolt against? Clearly, not our gov’t. The gov’t doesn’t call the shots. Are you going to revolt against our financial system?

Ron Paul has been trying to do that for years. Your revolution will be laughed at.