Skip to comments.Everyone Is Still Looking Past The Gorilla In The Room
Posted on 11/17/2011 10:49:37 AM PST by Kartographer
I had lunch yesterday with one of the sharpest financial minds Ive met in a long time at a rather picturesque setting overlooking Evergreen Lake, west of Denver.
The restaurant patrons were all well-to-do residents of this wealthy community in fact, the whole area is like a bubble, largely shielded from any negative effect of the economic fallout thus far. Most of these folks have gone about their lives over the last few years completely oblivious to the global financial crisis.
My friend agreed; he told me, Most of the people sitting in this restaurant havent felt a thing. Their guard is down, and they have no idea whats coming. It makes me nervous.
(Excerpt) Read more at businessinsider.com ...
There is no greater disaster than to underestimate danger. Underestimation can be fatal.
Anybody remember that scene in the movie, The Pianist, where he is asked to stop playing so a couple of guys can bounce some gold coins to see if they are real?
I think that in a way, we are there now.
Baloney. If they had any money in investments for retirement, they have been significantly affected.
Perhaps they live a more prepared, conservative life.
Yeah, the whole “they haven’t felt a thing” part struck me as unadulterated BS.
The gorilla in my room is named “Obadiah” and he keeps pestering me to get a Wii.
Change is bad for long term investing.
Have a fanily member living in just that kind of bubble right now. Makes a lot of snide remarks too.
I see normalcy bias people, and some of them, they don’t know they are normalcy bias.
The upside is that life went on, it wasn't the same but it went on and that will be true for us also.
Isn’t that pretty much the definition of “normalcy bias”... not knowing that you have it?
Their 401-Ks have been hit but some people are still wearing rose colored glasses and refuse to see the reason why and what is coming down the road.
We had a gathering recently at which all who were there “got it”, including the offspring which weren’t there but were the topic of conversation (if you get what I mean) - EXCEPT for my favorite lib-in-law, who is definitely in the intentionally oblivious bubble.
Our guests were talking about their daughter trying out canning and wheat grinding and buying property in the boonies. My libinlaw was expressing her total denial of what’s coming. “Why would anyone in this day and age want to can anything or grind their own flour? It’s cheaper and easier to buy it at the store!”
Of course, back in 2008, she voted for 0bama because “he’s going to make the world a better place for your children” - and she really believes that.
Nobody stole the manure?
My economic theory is that nothing changes until the cash flow stops. the only thing that is going to change our federal and state government is when the cash flow stops.
In fact, these are the people managing the business at hand.
They have the means to expand their business, but will not do so because everyday reveals another unanticipated cost of doing business, due to regulation or threat of new taxation.
Key to a successful business is managing risk, which means bounding the uncertainty to which you expose your enterprise.
I tell jokes to amuse myself. If other people get the joke that’s ok too:)
That is how it always seems to happen one day everything is normal, then a week or two of gorwing unsettleness and then BAM! SHTF!
What you have discribe what you observed in Mongolia after the collapse of the Soviet Union is so very close to what Ferfal in Argentina and Selco in Bosina discribed when SHTF in those two places.
I find Selco’s posting as being must READ! You can reviewed them here:
Selco;s blog is here: http://shtfschool.com/
FerFal’s blog is here: http://ferfal.blogspot.com/
Black clouds cover the horizon, the lightening is flashing and there is the distant sound of thunder! The storm flags are going up, will you heed them?
I am very aware that if its the great end that there is nothing I can do to stop or change it, but history is full of instances and times when man or nature have caused such a calamity that people have cried out and begged God to end it all.
The bible has many verse such as this:
A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
This verse and others are there for a reason and I urge all to take heed of them, because we are clearly on the edge. Everyday there is a new story about the Yutes who grow more restless everyday and when you add the fact that because of the economy people are already on edge it wont take much to set things off.
Reminds me of one of my favorite quotes:
Star Trek: Deep Space Nine: The Siege of AR-558 (#7.8) (1998)
Quark: Let me tell you something about Hew-mons, Nephew. Theyre a wonderful, friendly people, as long as their bellies are full and their holosuites are working. But take away their creature comforts, deprive them of food, sleep, sonic showers, put their lives in jeopardy over an extended period of time and those same friendly, intelligent, wonderful people... will become as nasty and as violent as the most bloodthirsty Klingon. You dont believe me? Look at those faces. Look in their eyes.
Today we have yutes who roam our streets who are with out morals, without respect for law or life itself. They will look are you with the same doll eyes a shark does before he eats you and they will feel no more compassion than the shark does.
That will be the test of many. Most preppers I know are Christian people and they will hesitate to do what they might have to do to stop the yutes. On the other hand the yutes wont think twice nor lose a minute of sleep, in fact they will smile and laugh about it.
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
For those of you who havent started already its time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
There is no greater disaster than to underestimate danger. Underestimation can be fatal.
As the LDS say When the emergency is upon us the time for preparedness has past.
I have one of those relatives, too. He lives and works in D.C. Doesn’t have a clue what life is like outside that little safety zone of never ending government paychecks.
The last lesson is that there’s money to be made in manure...
Did you read about Ann Barnhardt?? Not unbelievable, but much of a shock.
It posted one minute after I asked :) Saw it...thanks. Glad it got it’s own thread.
Bank run yet?
Thanks for posting this thread.
Simon Black writes “This is the point of no return. Examining the long and distinguished list of countries over the last 800-years that have been in this position before, there is hardly a single example of a nation escaping default and/or hyperinflation. This time is not different.”
I call that a good description of our terminal financial death spiral.
I always like clicking on your posts within posts. It’s kind of like a playing Zork and going underground. You never know where Blam is going to take you:)
Bank run? Already happening.
(from an Infowars article, probably not welcome here)
“Days before the doomed financial broker filed for bankruptcy, MF Global conducted unexplained wire transfers that led to a $900 million shortfall in client funds, leading customers like Gerald Celente to learn that their accounts had been looted and setting the precedent for internal bank runs as more big firms go bust.”
“Bank run? Already happening.”
So is Zerohedge ok?
“A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Lets not sugar-coat this or make this crime seem complex and abstract by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global.”
stick a fork in us
They are clueless. Mine has the intention of selling their million-dollar-plus house in a couple years “when things get better”. And the house is five or six times larger than what they needed. I have been telling them to get out for six years. Four years ago they doubled down on cost and size.
The last lesson is that theres money to be made in manure...
People are clueless.I saw a local news report that more people are traveling for turkey day tired of having no money.People will still spend money to keep them not so depressed.
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