interesting issue: conscience and profiting from misery
that is precisely why I try to warn so many friends and family
so far about a 5-10% success rate
but worse, I see a "sense of futility" in their reaction
"there is nothing we can do" keeps being spoken
I am losing my conscience, thru an erosion process
it started with 2000 and the QCOM fortune lost to the wind
it continued with additional losses in spring 2001 when the Fed rate cuts just DID NOT WORK, and the stockmarket realized it rather quickly
the fact that the public didnt realize it only pushed me to warn others late in 2001
I thought the WTC attack was a watershed event in many ways
it crippled the economy in certain ways, e.g. airlines
but it changed the dynamics totally
it led to a colossal increase in Fed FunnyMoney infusions
thereby distorting completely the whole financial asset community forever
since we refuse to allow a recession, it will be far worse
but my conscience has bothered me since Feb-March 2002
now I am going thru a new phase
NOT GIVING A SHIT ABOUT THE SHEEP
they are destined to be slaughtered
they know no other way, an unchanging part of human nature
it is their role in the landscape to feed the adapting New Intelligent minority
the eaters and the eaten, no difference from wild nature
in 1930 a whole gang got wealthy
they became bankers and politicians in the following decades
this is no different
I felt awkward for weeks that I want the Dow to careen to 4000
I WANT ALL CLINTON-RUBIN-GREENMAN GAINS TO BE REPUDIATED
all all all all all all all all all gains wiped out
clear the decks after such criminality never witnessed before
I want real estate to come back and correct by 30-35%
nothing catastrophic, but a sizeable comedown
this would surely cause a painful long recession
but so be it, it must be done to fix the imbalances
so I felt bad that so many friends and family would be hurt during this massive once-in-lifetime crash continuation
well, a few conflicts ensued that changed my tack
I had an mild argument with a smart former sweety NJ friend
she and I hung out for months when each was going thru divorce in Boston in early 1990's
she no longer wants to discuss any financial matters, period
her company is on Weiss HitList for high risk bankruptcy failure
I have an ongoing argument of a more gentle nature with a very smart college roommate in Vermont
he is goading me now that his IRA rose 7% since my early July warnings
of course, I reminded him that it went down 7% before rising 14%, and might drop another 20% soon
it doesnt matter, he doesnt want to hear it
he is a great guy, but he believes in the system
they all believe in the system
that is why the Faber editorial about Big Lies is so appropriate
the entire financial system is sick to the bone
when debt levels continue to rise in households, corporations, and fedgovt, but income fluctuates and even declines, we are in serious systemic trouble
rising debt levels just dont go away
rising debt levels are like rising water levels threatening your life when you are bound within a cage
the Austrian School knows this
as Faber says, "the debts remain, even grow, while the assets decline and the income is threatened"
but you dont see anything in press about either debt levels or derivative risks
I am sick & tired of sounding like a kook
these are extraordinary times, with spectacular failures happening
I know we are on borrowed time nationally
and Europe is not in much better shape
another college buddy worked in the Re-insurance business
he lost his job, and understands the gravity of the financial picture
he told me in Nov01 that another large scale calamity hitting the insurance industry would bring down major pillars
the Europe floods and the US Midwest drought is just that calamity
my brother doesnt want to discuss financial matters anymore
if real estate declines and his private business income dries up, he will be out in the street with no equity in his home
or worse, negative equity in his home
but does he sell his house that costs him $2300/month where he lives alone?
no
does he follow thru with his stated desire to get a smaller apartment?
no
does he regard me as a kook who blew it in 2000?
yup
does he show only contempt for any analysis, any conclusions, any evidence, any research approaches?
yup, almost all, but cloaked under supposed curiosity
to hell with all of them
if not to hell, then out of my sight, out of my path
I wont argue the cause much anymore
I dont want any obstruction to my thought process anymore
I want some peace of mind also
I tell them that I see no way out anymore for our financial system
that banking system is next to implode
starting with bigbanks and then intermediaries
e.g. mortgage banks, FannyMae, etc
I now officially am emotionally tied to pulling for a near collapse of our faulted and hopeless financial system
this is no longer a system where ripe ideas can come to fruition
the financing of such ideas is broken down completely
I want to see real estate come down bigtime
I want to see the stock market come down bigtime
I expect therefore that trusting sheep will be killed
that their pension systems will be decimated
they are adults, responsible for their own decisions
and I am not responsible for them
gold will benefit from the upcoming panic
gold will benefit as banking system falters badly
tech/telecom had a finance accomplice in the bubble crime
now it is time for finance to experience implosion
I will rejoice
what happened to Enron will happen elsewhere within finance
I will rejoice
and others will hate me more
they see the finance sector crimes, but dont expect the finance sector implosion because "that would hurt our system"
how naive
the accomplices go down with the perpetrator
I cannot change that, and I dont give a shit anymore
sorry for the length, but I am really really out of sorts
the disconnect has never been greater
the oppositional camps have been been farther apart
and now patriotism and politics have entered the fray
we have freedom of speech in this sick country
I have an opinion about failed govt policy
I am an American patriot, a weird one, but a patriot
I used to love my country much more than I do now
it has let me down
our upper caste social system has preyed on the lower caste
an historically unprecedented transfer of wealth, legally and illegallly, has taken place in this country, which will change its internal social dynamics forever
OUR LEADERS WILL NOW MAKE MANY REACTIVE MISTAKES
THEY WILL COMPOUND THE PROBLEMS, MAYBE ALL PROBLEMS
THEY WILL ENSURE (BY POLITICS, SPECIAL INTEREST, IGNORANCE, AND ILLITERACY) THAT ALL PROBLEMS WILL BECOME MUCH MUCH WORSE
IF THEY CANNOT RECOGNIZE THE CAUSES, THEIR REACTIONS CANNOT DO ANYTHING BUT WORSEN ALL PROBLEMS
this will get very ugly indeed
and I will rejoice quietly in most arenas, loudly in others
I am so angry
I will survive this slowmotion calamity
I will prosper from it
I will not harbor an ill conscience
I will not feel guilty
I have warned, and it is largely unheeded (but not here)
if I can, I will help some later after the dust clears
but that will be a long time from now
until then, let them fend for themselves, seek out sage guiding advice...
or else be slaughtered
it is nature's way, always has been, always will be
thanks again to all who bring solid useful quality information and editorial opinion to the board
/ jim |
