I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Oct 09, 2008 2:44 pm Post subject: Re: Hong Kong riots over stock losses
Quote:
I'm not sure I can but I've lived in Texas for almost 30 years and can verify a strong residual element here capable of organized violence should a significant mass develop.
Quote:
There are clear reasons why much of current voluntary military comes from the south and, to a lesser degree, western states. We have been (and it continues) to be raised with emotional acceptance of violence as a tool to achieve "self evident" justice.
Rockman, I'm 44. I've lived in the south my whole life. I was also in the military. I agree with what you said. For the first time in my life, I see the average southerner really pissed at their government about these bailouts for the rich bankers. The poor white southerners feel like they have been sold out by their own party. They never trusted their government, now they don't trust their own party to represent them. This bailout is a morality issue in the classic white south.
If they are so pissed now with jobs, I worry what next year will bring out when many don't have jobs. We don't know yet what the societal "blowback" of these bailouts will be. We know the bailouts failed to stop the financial meltdown, but the real failure of the bailouts may be moral indignation of the poor. Paulson may have just germinated the seed of "self evident" justice at the hands of the poor.
Last edited by seahorse2 on Thu Oct 09, 2008 3:45 pm; edited 1 time in total
Posted: Thu Oct 09, 2008 2:50 pm Post subject: Re: Hong Kong riots over stock losses
So true Seahorse but still difficult to imagine it getting that bad. But we both know that the real pain...deadly pain...is likely a year or so off. Guess I should go research the time lines for the Great Depression. For the first time since this whole mess started I'm getting that tight gut feeling I suspect you know about. Been a long time since it felt this bad.
Posted: Thu Oct 09, 2008 3:40 pm Post subject: Re: Hong Kong riots over stock losses
The problem is everyone has arrived at the same point, whether its an economist, trader, average joe, we all realize its really bad, but no one knows what it means, where it will end. We are literally in uncharted territory, facing what Greenspan calls a "100 year event", this realization scares people as it rightly should. Fear paralyzes action, which makes things worse and compounds the problem. People literally have no idea what tomorrow will bring, where or how it will all end. Maybe it will end well, but the future is dark and uncertain. Its the classic child's fear of the dark, and in this moment, we are all children.
Posted: Thu Oct 09, 2008 3:47 pm Post subject: Re: Hong Kong riots over stock losses
Indiana is pissed, too. I think everybody hates the bailout, and wonders what will come next, but they are sure they won't like it.
Hard to tell what it will take to get the pitchforks and torches going, but I'd say that CONgress got a fair sampling with the protests over the bailout bill. Hell of it is, the damned fools passed it anyway. _________________ Local fix-it guy..
Joined: Dec 02, 2005 Posts: 6684 Location: Oil-addicted Southern Californucopia
Posted: Thu Oct 09, 2008 4:37 pm Post subject: Re: Hong Kong riots over stock losses
patience wrote:
...Hard to tell what it will take to get the pitchforks and torches going...
Yes, it is. All we know so far is that everything that has gone down up to now hasn't elicited much of a response. As near as I can tell, this is the biggest "riot" we've had:
Come on, that's a pathetic turnout. We're just not the rioting kind, folks. God knows what it will take to get us going. Let's hope we don't find out. _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Posted: Thu Oct 09, 2008 4:47 pm Post subject: Re: Hong Kong riots over stock losses
[quote="Zardoz"]
patience wrote:
...Hard to tell what it will take to get the pitchforks and torches going...
Yes, it is. All we know so far is that everything that has gone down up to now hasn't elicited much of a response. As near as I can tell, this is the biggest "riot" we've had:
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