Home > welcome to Kondratieff winter

welcome to Kondratieff winter

September 30th, 2008 at 01:58 am

Saving log - $0 tip box
Spending log - $25 lunch (chipped in for a birthday lunch)

I don't know Julie Tuesday, but she was quite the philosopher today.

I was in a training session, so I didn't see the 778 pt stock market drop until I clicked into the news this afternoon.

That the bailout failed really didn't surprise me - the extreme left and the extreme right didn't like it, the partisanship on both sides is (and was) so poisonous that no one voting for it would get any cover. A Rep voting for it would be accused of raising taxes like a Dem, a Dem voting for it would be accused of caving in to Reps and everyone voting for it would be accused of believing a lie. Its what GWBush over-estimating the case of getting into war w/ Iraq did. If you lie once, you could lie again. Everything is now a possible over-estimate ... are we now into an economic apocalyse - or not?

I do think we are now in a first phase of very steep patch of

Text is deflation and Link is
deflation - money is disappearing, stocks are dropping, assets are consolidated, the credit bubble is popping, margin and debt is left to default, consumption contracts. This unwinding is a process with more pain to come - even during the
Text is GD and Link is
GD, its not as if stockbrokers jumped on Oct 30.

Fear is rampant. Still, when one of the IT guys is telling me its time to buy ... its not time to buy anything yet. Smile But it is time to window shop. And wait.

6 Responses to “welcome to Kondratieff winter”

  1. paulettegoddard Says:

    I had a different take about the bailout vote going the way it did: I was disappointed that my Congresscritter voted for it despite a floor speech saying it sucked because it didn't help out the middle class, and he's supposedly "extreme left" if you believe any Republican. I know a Republican in a tight race who voted against the bailout. I guess if you're a President it does no good to cry "Wolf!" before a bill you think is "dead urgent" needs to be passed.

    I am hopeful something will pass that will be more of the liking to us li'l guttersnipe turds, you know, the middle-class.

  2. baselle Says:

    Its funny - the bailout failed in two different ways in the past 6 days. And yet no total apocalypse. Fiscal shoes dropping all over the place, sure. Each buyout failure without actual blood in the streets is going to make the next vote harder.

    I'm trying to figure out what I'd like in a buy-in/ bailout program...I'm drawing a blank.

    There is one silver lining: I've noticed how much Jon Stewart is morphing into Will Rogers.

  3. PauletteGoddard Says:

  4. baselle Says:

    Bank robbery eh? We were first told it was a hostage situation at the Money Tree, and now we're told its a bomb threat either at the Money Tree or the Chicago Title offices on Columbia.

    We aren't quite under lock down yet. But in another hour, who knows?

  5. Petunia Says:

    I think I'll stay away from downtown.

  6. Broken Arrow Says:

    Thanks Baselle, for sharing your insight!

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