Here is a happy note. NOT. From Dr. Berry's morning notes a quote from Julian Robertson who used to run the Tiger fund and was as successful as people like George Soros and Jim Robers.
<At the same time market gurus George Soros and Julian Robertson have painted a
distinctly bleak picture of the immediate economic and capital market future. Take Mr.
Robertson for example. In an interview with CNBC’s Ron Insana two days ago, Mr.
Robertson, predicted “utter global collapse” as a consequence of the bursting of the
world-wide property bubble.
Wow! When the former head of Tiger Management speaks in those terms one must take
note. Mr. Robertson went on to forecast that 20 million people could lose their homes in
spite of all the current and future global Central Bank inflation.
“Where does it end?, Insana asked Robertson. “Utter global collapse,” he answered. But
not just economic collapse … collapse of epic proportions. Collapse and disintegration
of all infrastructure, including government. Inflation will run into the double and
triple digits. “Food production will fall. People will be carrying around U.S .Dollars in
wheelbarrows like Germany,” he said.
There will be “total collapse of public infrastructure. Total collapse of medical care
systems. All public pension plans, Social Security will collapse. All corporate pension
plans will collapse.”
“The American consumer is effectively now supporting the rest of the planet,” he
continued. “Consumption rates in all other nations are falling, have fallen to the point
that the tax revenues to governments, that the business and industries those nation
states are providing is now a net negative number relative to total debt service and
public cost, that this exists in virtually every nation state on the planet now.”
According to Mr. Robertson, “the Bush-Cheney regime is preparing the nation for
transition from democracy into dictatorship because a dictatorship will be necessary to
control, in 5 years time, food and water riots.” He said “the federal government, that part
of Patriot II Act, the internal exile that the government is going to have to build now huge
detention compounds on federal lands, probably in the West where the land is available,
to potentially house 50 million or more citizens that will be in financial ruin.”
In 10 years time, whoever is left will be effectively starting again, he said. “More
importantly, and I’m trying to think how we imply this or how we express this to the
people, what extraordinary times we are living in and how the destruction of the planet
has been engineered by the Bushonian Cabal from 1980 to 1992, and then from 2001
to present, which has effectively destroyed the economic liquidity of the planet,”
MORNING NOTES Wednesday February 13, 2008
Michael A. Berry, Ph.D.
MORNING NOTES 2 OF 4 2/13/2008 |
