Comments on: The Last Bear

By: redeyesandtears

redeyesandtears — Mon, 28 Sep 2009 07:17:12 +0000

Back in the 30′s, they calculated unemployment based on anyone who didn’t have a job.

Much more stricter definitions today, plus many are working less hours. Unemployment may be more like 15%. Who really believes 10% unemployment? You are gullible, and stop listening to our government – they are the lame brains that believe fractional reserve lending is a good idea.

By: zippythepinhead

zippythepinhead — Sat, 26 Sep 2009 23:42:40 +0000

I agree with you Steve, always the contrarion, however the day eventually comes when logic and reality collide. That day I believe the patient will be DOA and no amount of adreneline will bring him back. But hey don’t worry they’re still bad mouthing gold.

By: Steve Kusaba

Steve Kusaba — Sat, 26 Sep 2009 22:26:37 +0000

The trouble with the bear position is that is in deep conflict with reality while being extremely logical in its foundations. At the core of it is the fact that paper currency is something that can be created to whatever degree the politicians wish to. Zimbabwe is a much worse place than the U.S. will ever be and yet their stock market is robust. Stocks will rise to new highs constantly
because they are always better than worthless dollars.(the good ones that is) There will be a deflation-depression if you measure in gold however. We will be murdered by excruciating high prices in everything and yet bears want to deny us one of the few places to hide, stocks, preferably metals and energy. Every big drop I make a fortune buying when people are singing the end of the world song. I hope the panics keep coming. I sell when when I hear the happy music from the TV.

By: magman

magman — Sat, 26 Sep 2009 09:27:00 +0000

i am pushing 70 hopefully i will die in my sleep..i can see an end coming..everyone is in denial in florida no one can get a job down here (socially) we all drive old cars..we no longer trust banks,insurance companies,politicians..i don t buy anything new..i see people like myself living in a house i can never keep ..my small business is foundering..i just got my ss check and i can pay my bills if i eat one less meal a day (or 3)and my taxes are going up still and the govt says the recession is over but the depression is just starting

By: Bloomer

Bloomer — Sat, 26 Sep 2009 04:45:01 +0000

Jim Grant was always one of my favourite bears. The economy boomeranging back from the abyss is conceivable as the era of “great inflation” could continue for some more time yet.
But since the financial meltdown, the green shoots have wither and died as there is no hint of economic recovery. We have seen at best a de-acceleration of the free fall. I will keep my power dry as always, but I am not about to become trigger happy, even out of my admiration for Mr. Grant.

By: jason

jason — Fri, 25 Sep 2009 20:56:38 +0000

The bears should be coming out of hibernation again. The durable goods was a disappointment, and I read in the newspaper that the government might bail out the smaller banks–the banks that aren’t too big to fail, but many of them are about to fail because of defaults.

By: Kevin Larkin

Kevin Larkin — Fri, 25 Sep 2009 19:08:55 +0000

Hey Bill!

I’ve enjoyed reading your essays for the better part of this decade. Keep up the good work. You have a wonderful way with words…you old cantankerous curmudgeon!