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<p>[QUOTE="forextrading, post: 983809, member: 27085"]As one of the few on this thread who have actually read the book, I thought I'd weigh in. I agree that this is not your typical ITEOTWAWKI kind of book.</p><p><br /></p><p>FYI, I'm not a permabear. In fact, I'm naturally an optimist and have discounted the bullish potential of gold until recently, when I started understanding the fundamentals at work that are going to devalue our currency.</p><p><br /></p><p>I really like a lot of the book...especially through Chapter 7...and agree with many, but not all, of the premises and conclusions of the authors.</p><p><br /></p><p>THINGS I AGREE WITH</p><p><br /></p><p> - The recent real estate boom was a bubble that has not yet completely deflated. The time to buy real estate as an investment is not here yet.</p><p> - Stocks are currently in a bubble that have not yet deflated to reasonable levels. There is either a major crash or a consistent bear market ahead...or both.</p><p> - China is a HUGE bubble that will deflate BIG TIME soon...it is already starting. I've long believed that, and recent events confirm it. Back in the 80's, everyone thought Japan would crush the U.S. This time, everyone put too much faith (and investment) in China, creating a bubble of overinvestment. Read this: <a href="http://bit.ly/bzIs05" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://bit.ly/bzIs05" rel="nofollow">http://bit.ly/bzIs05</a></p><p> - The dollar is deflating in value and will continue to do so. The European economy is not in a whole lot better shape, but the Euro and other currencies, due to supply and demand, will increase a lot vs. the dollar. I am bullish on the Euro for that reason...not because I think European economists are any better than U.S. economists. It's just that the U.S. burden of debt is about to collapse on us, and the Euro will benefit.</p><p> - The government debt situation is the most gargantuan bubble of all, and when it gets popped, the economy will be "reset" a long way down from where we're at right now.</p><p> - All of the above bubbles will drive people toward gold…myself included. However, the fundamental forces at play will also create a gold bubble that will at some point pop. This is probably 3 to 5 years or more away. Until then, I'm bullish on gold.</p><p><br /></p><p>THINGS I DISAGREE WITH</p><p><br /></p><p> - The authors seem to have respect for Keynesian economic philosophies, and I do not. I believe the people are the source of wealth, and government cannot efficiently manage it or create it. They can only destroy it. They may at times succeed in distorting the markets to pick winners and losers, but it will usually end badly.</p><p> - The authors give no moral blame to government for causing the above bubbles, yet all of them are due to government intervention in the economy, IMO.</p><p> - The authors like FDR. I find it unbelievable that anyone with any historical knowledge whatsoever can like FDR.</p><p> - The authors take a nonchalant view of our supposed predestined "evolution" toward an international currency managed an international equivalent of the Federal Reserve. They suggest that this is a given, that there's nothing we can do to avoid it...nor should we. I totally disagree. I believe our national sovereignty is crucial to surviving the collapse of the dollar and the global economy in general. We will not get out of this by banding together and singing Cum Bay Ya. We will get out of it by competing once again to earn the investments of the world in our economy.</p><p><br /></p><p>--Kevin</p><p><br /></p><p><a href="http://stocktwits.com/forextrading" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://stocktwits.com/forextrading" rel="nofollow">http://stocktwits.com/forextrading</a>[/QUOTE]</p><p><br /></p>
[QUOTE="forextrading, post: 983809, member: 27085"]As one of the few on this thread who have actually read the book, I thought I'd weigh in. I agree that this is not your typical ITEOTWAWKI kind of book. FYI, I'm not a permabear. In fact, I'm naturally an optimist and have discounted the bullish potential of gold until recently, when I started understanding the fundamentals at work that are going to devalue our currency. I really like a lot of the book...especially through Chapter 7...and agree with many, but not all, of the premises and conclusions of the authors. THINGS I AGREE WITH - The recent real estate boom was a bubble that has not yet completely deflated. The time to buy real estate as an investment is not here yet. - Stocks are currently in a bubble that have not yet deflated to reasonable levels. There is either a major crash or a consistent bear market ahead...or both. - China is a HUGE bubble that will deflate BIG TIME soon...it is already starting. I've long believed that, and recent events confirm it. Back in the 80's, everyone thought Japan would crush the U.S. This time, everyone put too much faith (and investment) in China, creating a bubble of overinvestment. Read this: [URL="http://bit.ly/bzIs05"]http://bit.ly/bzIs05[/URL] - The dollar is deflating in value and will continue to do so. The European economy is not in a whole lot better shape, but the Euro and other currencies, due to supply and demand, will increase a lot vs. the dollar. I am bullish on the Euro for that reason...not because I think European economists are any better than U.S. economists. It's just that the U.S. burden of debt is about to collapse on us, and the Euro will benefit. - The government debt situation is the most gargantuan bubble of all, and when it gets popped, the economy will be "reset" a long way down from where we're at right now. - All of the above bubbles will drive people toward gold…myself included. However, the fundamental forces at play will also create a gold bubble that will at some point pop. This is probably 3 to 5 years or more away. Until then, I'm bullish on gold. THINGS I DISAGREE WITH - The authors seem to have respect for Keynesian economic philosophies, and I do not. I believe the people are the source of wealth, and government cannot efficiently manage it or create it. They can only destroy it. They may at times succeed in distorting the markets to pick winners and losers, but it will usually end badly. - The authors give no moral blame to government for causing the above bubbles, yet all of them are due to government intervention in the economy, IMO. - The authors like FDR. I find it unbelievable that anyone with any historical knowledge whatsoever can like FDR. - The authors take a nonchalant view of our supposed predestined "evolution" toward an international currency managed an international equivalent of the Federal Reserve. They suggest that this is a given, that there's nothing we can do to avoid it...nor should we. I totally disagree. I believe our national sovereignty is crucial to surviving the collapse of the dollar and the global economy in general. We will not get out of this by banding together and singing Cum Bay Ya. We will get out of it by competing once again to earn the investments of the world in our economy. --Kevin [URL="http://stocktwits.com/forextrading"]http://stocktwits.com/forextrading[/URL][/QUOTE]
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