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163 comments on DrumBeat: July 18, 2007

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BrianT on July 18, 2007 - 9:10am Permalink | Subthread | Parent | Comments top

Matt: The Fitts book looks like a good read. Thanks.

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eric blair on July 18, 2007 - 7:49pm Permalink | Subthread | Parent | Comments top

Did someone say Fitts!

http://www.solari.com

http://www.solariactionnetwork.com/phpBB2/

Start up a good Peak Oil discussion. I'd like to see someone other than Daybrown post!

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MicroHydro on July 18, 2007 - 9:13pm Permalink | Subthread | Parent | Comments top

Fitts had the correct reply. The stock markets, interest rates, dollar index, and gold prices are all actively managed. The Fed (~JPMorgan) and Treasury (~GoldmanSachs) have all the tools required to prevent abrupt market discontinuities. The BOJ, BOE, and ECB are all partners in this process. There will only be a financial "crash" when and if the PTB want one.

In addition, for people who have significant investments, "crashes" can be immensely profitable. Selling some stock (even in Evergreen Solar) and buying some put options can put one in position to profit from a "crash".

As for real estate, the "crash" can't come soon enough for this renter. IMO, someone who bought their house or farmlet in 1977 should be very happy to sell it to me for a 1997 price and make a huge profit. But, they still are greedy enough to want a 2007 wishing price, which is at least twice a reasonable multiple of local income and no buyer will pay it. Bring on the "crash", please!

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paulah on July 18, 2007 - 11:43pm Permalink | Subthread | Parent | Comments top

What is the BOJ, BOE, and ECB and the PTB?

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HeIsSoFly on July 18, 2007 - 11:59pm Permalink | Subthread | Parent | Comments top

Bank of Japan
Bank of England
European Central Bank
Powers That Be

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The Chimp Who Can Drive on July 19, 2007 - 12:44am Permalink | Subthread | Parent | Comments top

MH,

I intend to poach you from TOD over to the LATOC forum. I can offer you lots of turnips.

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710 on July 19, 2007 - 8:15am Permalink | Subthread | Parent | Comments top

Everything MH said about the PTB and a crash are pretty much dead-on, however, if the PTB really had all the power they think they do, and all that we attribute to them, we wouldn't be in quite the level of sh!t we are in right now.

The best laid plans, and all that.

And a crash can also be profitable a little later on when large amounts of material resources can be had for fire sale prices, but one again needs significant resources to begin with.

The rich get richer, etc.

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BrianT on July 19, 2007 - 9:46am Permalink | Subthread | Parent | Comments top

710: TPTB are rich-they are getting richer-they are presently too busy to worry about everybody else's problems.

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