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on the bright side, 9/11 didn't cause a collapse so maybe this won't either
actually if it wasn't for for foreign central banks and sovereign wealth funds America would have collapsed. Private money pulled out and the above mentioned moved in. Now who is going to come help us out?
Not knocking them either way, but there is not $5000 tp $10,000 gold, and there are not Social Security checks bouncing down the streets -- at least not yet.
I guess you follow this is all from Scenario Planning (I will put some more info in the "Books" thread about that). Anyway, you sort of have to declare that Full Worst Case (a full nuke war for example) and the Full Best Case (we all win the Lottery tomorrow) are not really real or people (like Doomers) get stuck in them, and cannot get to the practical application part -- for example --
School Fire. (very rarely happens, and if it were common, no kids would go to school). But the good application of the study are Fire Escapes and Fire Drills.
Titanic Sinks (again rarely happens) Application -- 100+ % lifeboats and life preservers and look out for icebergs.
Car Wreck. Most of us drive daily with out a wreck. But the awareness and study gives us cause for seat belts and air bags.
Life Insurance. Don't plan on dying today, but . . . well you get the idea.
Here is why you have declare the Worst Case rarely if ever happen -- not only because they do rarely if ever happen, but . . .
If one cannot acknowledge these events rarely happen, folks cannot get past the imagined trauma, and get to the mitigation and prevention parts (the useful application of the study).
And THAT imagined loss or trauma is where Doomers tend to get stuck, so they go dig their hobbit holes and stock it up with canned goods and wait for the end rather go on living life and being blessings and assets in their community.
lol,
I get your point. I only use the information I have for planning. Taking into account the possible outcomes and most likely outcomes and worse case scenario outcomes. Then I have contingency plans for each. I am actualizing plan C as we speak.
I actually don't know enough about that to even comment one way or the other.
Quote:
Originally Posted by Wild Style
actually if it wasn't for for foreign central banks and sovereign wealth funds America would have collapsed. Private money pulled out and the above mentioned moved in.
Location: where you sip the tea of the breasts of the spinsters of Utica
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By the way, if you can still find dealers who aren't holding on to their precious metals, this would be a good time to buy some. They're bound to spike very quickly.
ETA: Dow closed 4.42% down, worst drop since right after the 9-11 attacks.
Location: where you sip the tea of the breasts of the spinsters of Utica
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Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act
Posted Sep 15, 2008 12:58pm EDT by Aaron Task in Investing, Recession, Banking
Related: LEH, MER, BAC, AIG, WM, ^DJI, ^GSPC
Updated from 12:58 p.m. EDT
With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety of their bank deposits. While the FDIC insures individual accounts up to $100,000, the reaction to IndyMac's failure this summer -- lines outside retail branches -- shows Americans have limited faith in the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000.
.....But Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.....
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act
Posted Sep 15, 2008 12:58pm EDT by Aaron Task in Investing, Recession, Banking
Related: LEH, MER, BAC, AIG, WM, ^DJI, ^GSPC
Updated from 12:58 p.m. EDT
With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety of their bank deposits. While the FDIC insures individual accounts up to $100,000, the reaction to IndyMac's failure this summer -- lines outside retail branches -- shows Americans have limited faith in the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000.
.....But Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.....
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