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Editorial
See other Editorial Articles

Title: Are doom & gloomers ever right?
Source: Mister Clean
URL Source: [None]
Published: Aug 9, 2007
Author: Mister Clean
Post Date: 2007-08-09 10:09:25 by Mister Clean
Keywords: economic collapse, terrorism, global warming
Views: 2316
Comments: 213

Are doom & gloomers ever right in their numerous and freqent predictions of disaster?

I'm not simply talking about the garden variety doom & gloomers who are constantly predicting a massive economic collapse or continually warning about the evil plans of the New World Order. I also include the al-Qaeda fearmongers who are constantly predicting nuclear Jihad in America. I'm also talking about the global warming alarmists who predict that the east coast of the US will eventually be submerged in a major flood.

These groups of doom & gloomers have different agendas for sure but they're basically the same in their fearmongering and pessimissm. It's as if they want a disaster to happen so they can screech "I told you so!"

Fortunately, these prophets of disaster are as wrong in their predictions as they are negative and pessimistic.

I really wonder why America is full of these types of people.

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Begin Trace Mode for Comment # 103.

#8. To: Mister Clean (#0)

Are doom & gloomers ever right in their numerous and freqent predictions of disaster?

Actually, they're almost never wrong, they merely fall under the variations of the rule that states "The Market [read also System, or Society] can remain irrational longer than you can remain solvent".

If they were actually wrong in the aggregate, or over time, then there would be evidence like a return to sound money, or politicians suddenly spending less, and the Constitution actually being followed to the letter.

Ya see that happening? I don't think so, so a word to the wise - Hope for the best but remain prepared for the worst, and the possibility you merely might have to pass on those preparations to your kids...

Axenolith  posted on  2007-08-09   10:39:54 ET  Reply   Untrace   Trace   Private Reply  


#11. To: Axenolith (#8)

If they were actually wrong in the aggregate, or over time, then there would be evidence like a return to sound money, or politicians suddenly spending less, and the Constitution actually being followed to the letter.

I've been hearing predictions of a massive economic collapse for almost 20 years now and it hasn't happened. But the typical doom & gloomer says it's just around the corner.

I really don't see much difference between them and those who say al-Qaeda is about to detonate a nuke in America.

Mister Clean  posted on  2007-08-09   10:43:35 ET  Reply   Untrace   Trace   Private Reply  


#23. To: Mister Clean (#11)

I've been hearing predictions of a massive economic collapse for almost 20 years now and it hasn't happened. But the typical doom & gloomer says it's just around the corner.

And there were several instances where is was a very close brush that that collapse didn't occur due to frantic management of money and markets. It kept the wheels on for the time being, but you're not paying $3.00 for a gallon of gasoline and $4.00 for a loaf of bread now because either of the materials to create them are any scarcer or more difficult to process...

Axenolith  posted on  2007-08-09   11:00:21 ET  Reply   Untrace   Trace   Private Reply  


#29. To: Axenolith (#23)

And there were several instances where is was a very close brush that that collapse didn't occur due to frantic management of money and markets. It kept the wheels on for the time being, but you're not paying $3.00 for a gallon of gasoline and $4.00 for a loaf of bread now because either of the materials to create them are any scarcer or more difficult to process...

Close doesn't count.

Every time the market experiences a technical correction, the doom & gloomers come out from under their rocks in gleeful anticipation of a new depression.

They're always disappointed!

As far as prices go, well, they always go up. That's life.

Mister Clean  posted on  2007-08-09   11:06:28 ET  Reply   Untrace   Trace   Private Reply  


#99. To: Mister Clean (#29)

As far as prices go, well, they always go up. That's life.

No, that's NOT "life", that's INFLATION, and when you have a monetary system based upon fiat currency, you are more or less sure to have said inflation. Before we allowed the "Federal Reserve" to take over our currency, we had a Constitutional system of currency based upon precious metals, and a dollar was defined as being a certain weight of silver. As a result, prices did NOT "always go up" for a period of over one hundred years. It wasn't until the US abandoned the Constitution and allowed the Fed to print money out of thin air that we embarked upon our current course of endless inflation.

Keep in mind that a dollar today will purchase about as much as two cents would back in 1913. That's NOT "life". That's INFLATION. Caused by endless debasing of the currency. Currency debasement is a favorite pastime of governments, and it always ends with said currency eventually becoming worthless. Always has, and always will. You would do well to read up on Ludwig Von Mises and the views of the "Austrian school" of economics.

Now, does this mean the entire economy will eventually shut down? No. As Ludwig Von Mises so brillantly stated, "Economics is human action". As long as people produce and create and exchange their products and labor there will be economics. Does this mean we are going to eventually see a period of wrenching readjustment as our current fiat currency system loses popular appeal and support, and some other form of currency eventually asserts itself as being a more desirable medium of exchange? I can, with certainty, say "yes". I cannot say WHEN it will happen, but I can say that it WILL happen.

Elliott Jackalope  posted on  2007-08-09   15:35:07 ET  Reply   Untrace   Trace   Private Reply  


#103. To: Elliott Jackalope (#99)

educative post

(return to a sound money system and nearly all of our ills vanish)

christine  posted on  2007-08-09   15:43:38 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 103.

#104. To: christine (#103)

Not to mention also the fact that the [un]sound money system is essentially why we ended up with Hitler, Stalin, etc...

Axenolith  posted on  2007-08-09 15:55:36 ET  Reply   Untrace   Trace   Private Reply  


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