Submitted by Tyler Durden on 01/10/2012 08:09 -0500
Bob Janjuah, despite never leaving, is once again back:
It has been a while since I last wrote. At one point I thought I was having a period of "writer's block", but over the Christmas break I had a "Eureka" moment. I don't have "writer's block". Instead I realised that I was trying to write something "different" at a point in time where actually the key issues are, pretty much, the same as they have been for some years now. As such, I have abandoned this attempt and instead present my latest thoughts, even if you have "heard all this" before:
1 - Key Issues:
Unchanged from last year/the last few years: Too much debt, insufficient "real" self-sustaining growth, and the same old failed thinking from (Western) policymakers, which over the last 20 + years has created the biggest debt disaster in modern history. Western policy makers, at the national and G20/IMF level, still seem to have no response to solvency problems other than printing more money, loading on more debt, and hoping that "time" sorts it all out. In other words, the extension of ponzi schemes which are being used to cover up our lack of competitiveness and real productivity growth through the use of money debasement and leverage.
As ever, the bigger this effort gets the harder the fall once the inevitable collapse happens
I guess if the gumpies can kill the use of credit, why not us? The HUGE jump in consumer credit from prior report is telling. Nuther credit bubble, gonna be a duezy when it blows.
http://www.zerohedge.com/news/bob-janjuah-ushers-new-year-here-we-go-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
| 