Summit of Doom

Hint: Regardless of what kind of market correction lay ahead, it’s gonna be bullish out there eventually. This (read on) all but guarantees it.

First of all, I have committed to publishing Jim Kunstler @ Biiwii because to me he is one of the best writers out there and well, he’s got a long-standing burr on his butt. I like people like that; malcontents. I am a malcontent. He provides political commentary through the lens of his own unique view of modern America.

The Winners Will Lose and the Losers Will Win

I was however, irritated to see this at the end of the article. It was published with the content however, because unlike many sites, I let the Biiwii authors promo within bounds.

Join me (JHK), David Stockman, Chris Martenson & Adam Taggart in New York City for an intimate 6-hour discussion primarily focused on our forecasts for the Economy and the financial markets, with special emphasis on the biggest threats that could trigger a major correction, as well as the key crash indicators we’re all watching most closely. We’ll also explore the many growing Energy, Environmental and Social Disorder risks in today’s world — as well as provide ample time to address your most burning questions.

There’s a confederacy of doom for you. I can write that without guilt of being heavy handed because they wrote these things (threats, crash, disorder… forecasts!), not me. And they are very public figures, promoting publicly.

I once wrote a post probably on the old blown up Biiwii database noting how bear and gold bug entities, when trying to push doom & gloom always note “Doctor” before the name of Ph.D.’d bears or gold bugs who are about to scare the shit out of you (and scare you into making poor decisions). Doctor Hussman… Doctor Paul… Doctor McHugh… Doctor Martenson, as he’s introduced here by something called the Gold Money Foundation. The “Doctor” part makes you feel small. It makes you the undisputed receiver of the information because you are not a Doctor and you don’t know as much as the forecaster.

Here’s Doctor Chris of Peak Prosperity discussing peak oil and then the pitch for gold and silver (with the latter laid on so thick you’ve just gotta run out and git yerself summa dat rare shit). You can almost hear the “drum roll, please!” in the background as the peak oil discussion segues into the inevitable pitch for Au & Ag that these entities (oh wait, this one’s a foundation) put out.

Check out the video from 2011, which was the year that silver flamed out, gold peaked (no pun intended) out and Crude Oil made its secondary top well ahead of a crash instigated by a supply glut. Peak oil?

Full disclosures:

  1. I have been wrong about many things over the years (and I don’t pretend otherwise).
  2. Biiwii (old database, accidentally blown up by yours truly) was the first or one of the first to publish Chris’s “Crash Course” work before he left the minor league backwaters for the bright lights.
  3. Speaking of work, I had a lot of work to do over the years in getting my own doomsayer impulses under control as well. I admit that freely and that is probably why I have a problem with this stuff now. I’ve done the work. Recovery is a multi-step process guys, but first you’ve got to want to recover. Oh, and recovery also had the side benefit of improving my analytical work.
  4. For a doomsayer (2004-2008) I think I was pretty level headed; but that’s my bias. :-)

I’ve told this story before, but for modern-era readers Chris and I came out of the same cadre of ‘investors’, presided over by a mythical figure named John. Speaking personally, the guy was very persuasive and in some cases very right and in others, very wrong. Also speaking personally, the thing began to feel a little culty, so I got the fuck out of there. But don’t think I did not have this experience in mind when the name Notes From the Rabbit Hole came about.

Chris got out of there too. But when he called and woke me up one Saturday night talking with way too much energy about his ideas of spreading the word to the greater public I’m like ya okay Chris, good stuff. I am going to go back to sleep now. But let me know how I can help. I actually admired that. He found a path, he found Adam Taggart and he absolutely powered forward.

So I was front row to the making of a guru. I mean, he was a corporate scientist and I only wish I sounded that smart when I talk. Seriously, his presentation almost demands that you realize Chris knows more than you do. He’s really, really smart. As in really.

Anyway, the other one here is the redoubtable David Stockman. I like the guy and respect that he was part of the Regan administration, but he – like Doctor Martenson – is only human. They have all proved without a doubt to be wrong for a long, long time. As for Jim Kunstler, I like the way he writes but I am not going to him to learn anything about the economy. I simply enjoy his perspectives.

So there you have it. It’s another of those “intimate” round table discussions that you can attend (access provided in the article @ Biiwii linked above). The group will be discussing forecasts for the economy, key crash indicators and the coming major correction. The group will likely be exalted by the media after the correction comes and many people will flock to the ones who had it right all along, year after year after year after year after year after…

Tomorrow the whole enchilada could come unwrapped. But there have been thousands of tomorrows where the sun came up, the birds chirped and those not privy to the great conspiracy simply made money. So there’s that too.

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