I liked this scene from "Der Untergang" so much that I decided to use it again. As if the Aurelian debacle wasn't bad enough, now it's September, 2008 and the sell off in precious metals has taken...
I liked this scene from "Der Untergang" so much that I decided to use it again. As if the Aurelian debacle wasn't bad enough, now it's September, 2008 and the sell off in precious metals has taken its toll on You-know-who's portfolio. He's just gotten a margin call and he is NOT happy. It looks like his portfolio isn't the only thing that's going to be liquidated!
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I laugh at people who load up on gold and silver because they think the American dollar is doomed. It's as if they don't know the Yuan and Euro exist. Face it, commodity backed money will never return. And the world is better for it: imagine trying to get a loan to open a small business in a commodity economy. At least with a ton of paper floating around, its easier for entrepreneurs.
Is that sarcasm? If it is, the economy is not zero sum. You should worry about what happens if its impossible to get a loan instead of what happens if its easy.
True. But let's face it, if this is as bad as it gets with easy loans its a cakewalk compared to the recessions of the 70's and 80's. People who don't read history or are too young to remember have no idea what it was like back then.
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