Am in Shanghai.
Top-of-mind thought: until and unless inflationist wastrels such as Krugman are completely discredited, the bear market would not end until most wastrelism believers are through-and-through pauperized by the back and forth, hope and despair grinding action.
Front-of-head reckoning: given that most have sinned in alignment with the rot spewed by the likes of Krugman, either by direct commission or by affectionate acquiescence, therefore Krugman’s ideas will not be completely discredited until the bitter end, tracking the typical learning diffusion curve amongst the population, and so the consequential punishment of most will be until they are roughly pauperized, at the end of the tragic curve.
Back-of -brain conviction: many of us in this on-going discussion are, in our ways, doing good work and saving souls, even if only one lost soul at a time. For each soul directly saved, so saved are direct descendants, and maybe even the family and friends of the otherwise foolishly lost soul.
Distilled faith: Come revelation day, we will receive our reward for having embraced the terrible truth with learned and early alacrity and having astutely engaged with angry god’s work even as we save souls.
Happy thoughts: In the mean nasty time, let us continue to have fun while providing for our family, and doing so knowing that we work with a higher and noble purpose, even if we do so for selfish survival, enticed by the darkside of gain, for pay, or for all of the wrong reasons.
Question: so, are we agreed that given the line up of krugman, friedman, wsj and nyt, fox and cnbc, goldman and jpmorgan, and washington and new york, tokyo and london, on one side, and little us on the other, the market may not finally clear to the bottom until sometime 2015-2020? |
