Ahh the rush of the holidays.
Had planned to do an indepth post today on the silver issue but after spending the morning at the beach with my dog, I got bogged down all afternoon with several lengthy emails. Before I knew it... I had to get ready for tonight's Festivus party.
And in the spirit of Festivus, I have to say that the plethora of news articles generated by our Central Banks debt warnings are nothing short of a 'Festivus Miracle'.
It's no longer a case of 'bitter bloggers' who are crying 'chicken little' that the sky is falling... rather the whole issue now has an aura of legitimacy.
Of course, until a collapse happens... the idea that we are in a bubble simply will not be accepted, even with Mark Carney sounding the alarm about the dangers that lie ahead.
Look for an intense counter-offensive by the Real Estate Industry.
The first shot has already been fired by the likes of Helmut Pastrick, chief economist of Central 1 Credit Union, who said:
- “I don’t see a price bubble and I don’t see that we need the mortgage criteria tightened as is suggested in some quarters”
Somehow the winter doldrums of January/February aren't going to be as boring as in past years.
Let the airing of grievances begin.
Happy Festivus everyone!
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Email: village_whisperer@live.ca
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A belated happy festivus.
ReplyDeleteI agree with your analysis Mr Whisperer. To think that there will be no consequences associated with the printing of trillions is pure folly. There are a lot of bloggers who suggest that cost push inflation does not even exist. They suggest that increasing prices are just speculation and with the deflating credit bubble the money creation will just be a wash.
ReplyDeleteIn regards to the governments lies on statistics, what can one say really, other than they don't represent us, which is becoming more obvious by the week. Lies on GDP, Inflation and Unemployment are ongoing. I read that if unemployment in the US was measured as it had been when Clinton was first elected, the rate would be 22%.
2011 will be interesting and it will get crazier in 2012, as average people realize the old North American economy is history.