Is this the same guy who said the DOW would be at around 5000 by the end of the year?
by those who don't remember the collapse of the yen carry trade in the late 1990's
Not so long ago Insana was playing....let's pretend bill clinton will become the next Secretary General of the United Nations.
Why Insana has his own show on WABC radio is beyond me.
"According to Robertson, "the Bush-Cheney regime is preparing the nation for transition from democracy into dictatorship because a dictatorship will be necessary to control, in 5 years time, food and water riots." He said "the federal government, that part of Patriot II Act, the internal exile, that the government is going to have to build now huge detention compounds on federal lands, probably in the West where the land is available, to potentially house 50 million or more citizens that will be in financial ruin."
"More importantly, and I'm trying to think how we imply this or how we express this to the people, what extraordinary times we are living in and how the destruction of the planet has been engineered by the Bushonian Cabal from 1980 to 1992, and then from 2001 to present, which has effectively destroyed the economic liquidity of the planet," he said."
Paging Nurse Ratchet...the man's overdue for his meds...
And then 20 million other people will move into those houses.
Infomagic? Is that you?
For details, google +Infomagic +greenspun
Short version: Infomagic was a user on the old MIT-hosted greenspun newsboards during the runup to Y2K. He was famous for positing that Y2K would result in the ultimate death spiral for the world economy, displacing millions, crashing world food production and distribution, governments implement martial law etc etc. Here's a link to his summary.
Impending doom the fault of Bush / Cheney? No wonder this guy's worth millions with original thinking like that.
Someone remind me again who all these Billionaires For Bush are.
WWASD
What would Adam Smith do?
The only bubble that is going to burst is the bubble of home-ownership by people who can't really afford the homes, and thanks to threats of redlining lawsuits, companies being forced to hand out enormous loans to people who can't possibly pay.
We're in for rough times, but Robertson is way out on a leftist limb with his predictions. I suspect from the language that he is using that if Kerry had been elected President and the same exact economic conditions prevailed as today, there wouldn't be much of a problem looming at all, in his judgment. ;)
Mr Doom and Gloom. Probably one of thosee yahoos who swore that on 1/1/2000 near every electronic device in the world would freeze up, planes would crash, elevators would stop between floors, nuclear missiles would launch themselves and land in neighborhoods down the street, water would turn colors, cows would go on strike, and Michael Jackson would turn white.
So now we've gotta start consuming more, to make up for the lazy under-consuming foreigners in slacker nations? Is that the message?
SD
Actually, never been wrong Robertson was forced out of the industry by substandard performance. He couldn't hang onto his clients. The bull/bear 1995-2003 forced out numerous managers. Robertson's was an exceptionally high profile, and especially unceremonial exodus.
Two, the old geezer might like to take a look at a first year course in international finance and a glimpse at the capital account before making foolish assertions about our spending habits.
Third, I'd like to know how much of his portfolio is short these overpriced assts.
What a moron.
"People will be carrying around U.S. dollars in wheelbarrows like Germany," he said.
Naw. Most of us use bank cards now.
So much irony, so little time... Mr. Never Been Wrong, is the former head of Tiger Management because he made the wrong investments and he had to liquidate the company.