#11: PAUL VOLCKER: THE MOTHER OF ALL CRISES

[dontswin]

Just a reminder to new viewers: these videos are just about a year old from today 3/15/09

Thank you and watch them all he knows his stuff I think!

[GlobVetus]

Thank You for the answeres. A lost generation could mean riots an civil unrest all over Europe and USA..No bright future. Who is going to tell them the true story ? I paid of all my debt in late 2007. And sold my house( just in time). And during 2008 I have been trying to tell people to do the same.. With no big luck though.. I am looking forward to see your predictions for next year and a half.. Mikael Sweden

[Crashof2008]

Mikael-

Congratulations on some very good decisions. Getting out of debt is a critical strategy that, unfortunately, few Americans understand.

In terms of what this could mean in terms of civil unrest, look at today's farmer's strike in Greece, which is bringing that nation to a standstill. And Iceland of course has recently seen a true opposition forming.

Please feel free to join our discussion on the left hand side of the Crash of 2008 home channel page.

Mr. Fed

[GlobVetus]

Thank You Mr. Fed.

Is it possible to get back on the track again in 2009 ? Or are we looking at a lost decade ?

How bad will it be ?

[Crashof2008]

Or a lost generation (25 years?)

These videos contained my predictions until this month, January 2009.

Next month I will start posting videos with my forecasts through July 2010.

The short term is too chaotic too predict, the long term too uncertain. This is why I (and the Fed) rely on intermediate term forecasts.

Mr. Fed

[libertyeconomics]

It didn't move from Wall Street to Main Street. It moved from Main Street to Wall Street. And now, supposedly, the government save the "real economy" through more inflation. It is the exact opposite. We need to let the entire regime of false values, i.e., the fiat monetary regime, fail.

[Crashof2008]

You are mistaken about inflation.

Japan has had some of the most explosive monetary growth in history over the last 15 years. Are you claiming they are now poised for a terrible bout of inflation?

We do NOT live in a currency based economy. Currency is a small fraction of credit. The Fed is not "printing" money.

Where is explosive consumer demand going to come from? Laid off Chinese steelworkers? Laid off US auto sector? Laid off financial sector employees? Fired real estate agents?

[libertyeconomics]

If inflation is good, why isn't Zimbabwe the world's leading exporter? Why isn't Japan super prosperous? The United States is totally dependent upon foreigners financing our consumption through true savings, productivity, and capital. If we continue down this present policy path, we are going to have hyperinflation. I'll tell you what. I got me some gold and silver bullion. Weak economies do NOT contain reckless monetary policy.

[Crashof2008]

You have zero idea what you are talking about or whom you are talking to. Have you watched all of my videos? Name one person that hates inflation more than Paul Volcker or myself.

You need to study the income velocity of money. Watch my videos entitled Milton Friedman's Big Mistake. Where is the hyperinflation Friedman promised us in back in 1982?

Volcker said it wouldn't come and if it did we would kill it. But it NEVER came.

The 1960s are over. Watch my videos and learn.

[kendjo]

Thanks for this enlightening info, I appreciate the wealth of information you provide.

[AirelonTrading]

Very well presented & pretty much mirrors my thoughts.

But I note the title of your channel is a bit surprising. Are you predicting a market crash? There hasn't been one thusfar. And really can the psychological phenomenon of a crash even be predicted by using economic data? Since any crash isn't an economic situation; it's a psychological phenomenon.

But I agree with you completely with Paul Volcker. Greenspan? Volcker gave us 30 years of REAL prosperity.

[Crashof2008]

Thanks for the kind comments.

You might enjoy viewing my other videos for a broader view of my perspective.

Volcker was and is a central banker's central banker. No one else has come close and indeed HE deserves more credit than anyone else for the recent 30 years of prosperity.

In my other videos I talk about Volcker's epiphany after Wayne Angell became Vice Chairman. Wayne came from the Kansas City Fed, which revolutionized Federal Reserve policy in 1982.

Mr. Fed

[seabassbanker]

you rock mr fed

[endjinn8]

Thanks for the analysis.

[TheMarketingGroup]

Thank you Mr. Fred.

[joshrain1]

nice video.

[barbaglia111]

Thank you Mr.Fed for the well researched video.

[MaverickCentricity]

Excellent quotation. I'm shocked that most many in the mainstream media are calling a bottom on the market and an end to the credit and mortgage crisis. I don't see how any rational person could ignore the heavy downside factors that are present within this market. I'm looking for some heavy volatility on a negative trend downwards this week with earnings reports and PPI. Only time can tell what the future holds.