GDP Jibber Jabber

October 29th, 2009 by stacyherbert

Stacy Summary: GDP up 3.5%.

Tags:   68 Comments

68 responses so far ↓

  • Illya Kuryakin
    Oct 29, 2009 at 1:21 pm

    It’s not “how much” a dozen eggs will cost, it’s what would you do to get a dozen eggs?

  • Robert Baird
    Oct 29, 2009 at 2:04 pm

    By all accounts Gordon Brown was all geared up with press releases and all the Labour friendly media hacks were primed ready for positive UK GDP numbers. When they didnt come through he went into one of his now famous bunker rages. Probably trashed another mobile phone. The world appears to have gone utterly mad.

  • frances snoot
    Oct 29, 2009 at 3:17 pm

    It’s not “how much” a dozen eggs will cost, it’s what would you do to get a dozen eggs?

    Actually, it is relevant if the price of eggs is a function of an hyperinflating dollar. Then the value of the eggs AND the gold will be called into question, realizing a preference for food over the shiny metal. How long can gold retain its luster in a survival world where the very meaning of currency has been destroyed?

    And, unfortunately as the Euro valuation increase is showing, the world’s currencies are all linked to the dollar. There are many variables at play, not the least the sdr expansion and the different fundamentals of trade with a sdr basket.

  • frances snoot
    Oct 29, 2009 at 3:19 pm

    Saying goody goody gold will be 6000 dollars an ounce seems to me a rather superficial forecast.

  • Illinois Brandon
    Oct 29, 2009 at 4:56 pm

    Today is the anniversity of the Great Crash of 1929. My Grandparents were teens in those days. I’m 27 and my generation is about to get a hard lesson on what doing without is like.

  • Giuseppe Bagoshite
    Oct 29, 2009 at 4:57 pm

    This is a great article from Trace Mayer…

    http://www.runtogold.com/2009/10/relentless-advance-of-technology/

    The first video about Homo Evolutis is good brain food…
    and the onion video is good for a laugh…
    I’m still digesting the article’s implications…
    Maybe you’ll taste it differently…

  • Illinois Brandon
    Oct 29, 2009 at 5:00 pm

    Without Cash for Clunkers it would have been 1.9%. The US has over 23 trillion in exposure to the crisis! Real unemployment is 17%, oil is 80 bucks soon to be 100 plus, student loans are defaulting at record levels, foreclosures are still surging and 1 out of 8 Americans is on food stamps, but hey JP Morgan and Goldman Sachs are doing well. This is what is important to the financial media.

  • Hadley
    Oct 29, 2009 at 6:52 pm

    I was just watching a Dr Phil episode about recession survival techniques as these figures came out. It was pretty extreme tips like withdraw money on your cc then don’t make any payments on cc or mortgage.

  • Mishopshno
    Oct 29, 2009 at 10:05 pm

    http://news.bbc.co.uk/2/hi/uk_news/politics/8333192.stm

    Blair may not be EU president after all. Now they can let Polanski go.

  • KingDom
    Oct 29, 2009 at 10:59 pm

    I would be interested in peoples views on this rise in the US of the GDP growth in Q3? Is it purely the Cash For Clunckers seeping through and is it sustainable?

    I watched an interview with Mish Shedlock who takes a view that the dollar is not going to die, next month, next year or for the near future, possibly in ten years plus. He makes the observation that just abot every currency is taking a knock. Apart from the Aussies and Norwegians.

    Stacy and Max, some insight please?

  • Illya Kuryakin
    Oct 30, 2009 at 2:43 am

    Saying goody goody gold will be 6000 dollars an ounce seems to me a rather superficial forecast.

    You’re right. In a way. The only reason I use a dollar reference At All is because that’s the only thing people easily comprehend.

    I do not give a damn about the $ or any fiat toilet paper except for the fact that I’m paid in Kanadian dollars that I need to immediately convert to something else to hedge against inflation. To keep the product of my physical and mental labour and not have it inflated away by shysters.

    3,000 years ago an ounce of gold bought 350 loaves of bread, today it does the same thing. That’s the only point of reference that interests me. If I actually BEAT inflation then that’s merely a bonus.

    The zero sum game balance sheet is tilted toward the richest 10,000 or so people on earth controlling and/or owning two-thirds of the wealth. They’re not getting mine.

  • frances snoot
    Oct 30, 2009 at 5:18 am

    The only reason I use a dollar reference At All is because that’s the only thing people easily comprehend.

    Illya: you contradict yourself. If the above is true, then the concluding argument should be that dollar pricing is inherently untrustworthy. If ‘most people’ easily comprehend dollar pricing then dollar pricing is most probably a universal and the collapse in the dollar will precipitate a collapse in price “trust” (the result of a hyperinflating currency) by those that comprehend value as a derivative of dollar pricing.

    Another words: eeeeeeeeeeeeeeeeeek

  • frances snoot
    Oct 30, 2009 at 5:26 am

    3,000 years ago an ounce of gold bought 350 loaves of bread, today it does the same thing. That’s the only point of reference that interests me. If I actually BEAT inflation then that’s merely a bonus.

    King Tut Illya:

    If you took some time to exit your pyramid you might notice that we have a new system of exchange in play. The gold-backed currency regime ended when Nixon took the US of the gold standard in 1971. Do you believe the controllers of the currency want to return to a gold exchange system?

    You, most probably, won’t be able to retain a viable means of exchange outside EU/IMF control: that is The Plan. If you really look at it logically, gold is fiat in that the gold is only a representation of value placed there by a fiat system operating under criminal control.

    You have faith that the outcome will favor Illya. Are you royal?

  • jj
    Oct 30, 2009 at 11:20 am

    Hmmm…………

    We’ll see… by… mid Nov. 2009.
    Maybe… even before that….

  • Illya Kuryakin
    Oct 30, 2009 at 4:45 pm

    @frances

    My brother: you just do not get it. You are living in a USD-denominated galaxy and that is about as far removed from reality as you can get.

    Dollars, Rubles, Yuans, SDRs, etc, do not mean a motherfucking thing.

    I would not even wipe my as with any of that toilet paper.: I cannot understand why you can’t divorce yourself from the USD fiat system??? What is your problem?

    Why do you even think in terms of X = Y dollars???

    The ONLY thing that MATTERS is what an ounce of gold or silver or palladium or platinum or copper or iridium or cobalt etc, will actually put food on your table.

    You are talking about esoteric bullshit that means absofuckinglutely nothing to anyone who is interested in living. WTF?

  • frances snoot
    Oct 30, 2009 at 5:47 pm

    “Why do you even think in terms of X = Y dollars???”

    Because the pricing system to which we all adhere is focused on this equation.

  • jj
    Oct 31, 2009 at 3:47 am

    Why we think in terms of X = Y dollars?
    So we can go on luxurious foreign shopping vacations.

« Older Comments