KWN: Still Harvesting Fearful Eyeballs

After being asked on Twitter for thoughts on the article linked below…

The two main things I remember about King World News are that its interviewer has a voice that is remarkably similar to Dennis Miller’s and that the headlines and articles over there scare the crap out of people. It is not only the major media that harvest eyeballs.

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Aside from the article linked above with its cool picture of the Joker heading it there are plenty of other stories (including Golden Ghost stories) that you can consume, consider and just maybe not over react to. It’s not a battle good vs. evil, us against them. It’s a market with a lot of policy, media and now societal input.

As noted in May, I myself am a long-since recovered doom-o-phobe.

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So at least I walked the walk back in 2003-2005. I also bought the gold (surely a good thing), the gun, the generator, the wood stoves and all that. I am not denigrating the concept of being prepared. Every morning when I check the market futures I am prepared for the unraveling of this desperately policy-stoked fantasy. As noted in Friday’s post:

But here I’ll repeat that the Fed is balls out printing money (really funny munny), manipulating Treasury and Corporate bonds and stating that it will have virtually no limits in this MMT (I would turn around MMT to call it what it actually is, TMM or Total Market Manipulation). They can give it a fancy name like Modern Monetary Theory but by any other name it is chicanery and a scam that society will suffer the fallout from some day.

They are cheapening the munny units in order to give the appearance of rising asset (especially stock asset) units. Say it again… “they are cheapening the munny units in order to give the appearance of rising asset units.”

Hence, gold. The shiny rock, the bullion, the anchor to monetary sanity. In this surreal monetary realm it is something real.

I was fairly well doomed out from 2001-2004. But in 2003 I realized that the market’s prices were going the other way, the non-doom way. So while I would never say never regarding some of KWN’s frightening headlines, I would say that for 2 decades such headlines have most often not worked well for people who may have acted on them in a committed way.

In this perma-reflated society to step outside the casino of rising prices for extended periods has meant to fall behind, at least as denominated by the munny the racket uses by house rules. Most people with regular jobs and professional guidance are by definition taking big risk in a passive way. It works fabulously well as long as they remain at risk and as long as the racket endures. Hence, I’ve long ago decided to play the game but manage that heinous 4 letter word as best I can.

The Enchilada could unravel today, tomorrow, next week or some hazy time out on the horizon. But disaster does not have to come in the form of deflation. I think it ultimately will, but von Mises might argue otherwise.