by
Chris Martenson
One of my favorite internet articles of all time, entitled "Pompous Prognosticators," placed quotes of various politicians and other authority figures across a chart of the Dow Jones, spanning the years 1925 to 1933. A portion of that article is located here.
Here’s an image from the original article to jog your memory, in case you can’t recall which article I am referring to:
I loved that article when it came out, and still love it today, because it reveals that nothing has changed through the decades and that believing the self-interested pronouncements of "green shoots" can be hazardous to your wealth.
So I decided to recreate that effort but update it for our modern times. Let’s continue to update this chart over time and see where it goes. The people at Lowesville will recognize the work below, because I presented it there, along with a lot of other new information, inlcuding the Crash Course Toolbox, which is a main feature of my in-person seminars.
In Their Own Words – Economic Quotes
by Chris MartensonOne of my favorite internet articles of all time, entitled "Pompous Prognosticators," placed quotes of various politicians and other authority figures across a chart of the Dow Jones, spanning the years 1925 to 1933. A portion of that article is located here.
Here’s an image from the original article to jog your memory, in case you can’t recall which article I am referring to:
I loved that article when it came out, and still love it today, because it reveals that nothing has changed through the decades and that believing the self-interested pronouncements of "green shoots" can be hazardous to your wealth.
So I decided to recreate that effort but update it for our modern times. Let’s continue to update this chart over time and see where it goes. The people at Lowesville will recognize the work below, because I presented it there, along with a lot of other new information, inlcuding the Crash Course Toolbox, which is a main feature of my in-person seminars.
by
Chris Martenson
There’s a new Martenson Report ready for enrolled members.
This one concerns the results of bank stress tests due to be announced this week.
The Bank Stress Tests Have Already Failed
Here’s part of the conclusion:
A “stress test,” at least as far as I understand it from a scientific or engineering standpoint, is supposed to encompass a set of conditions beyond normal, or expected, values. The bank stress-test assumptions are already exceeded in each case by real-world conditions, and therefore will be neither illuminating nor predictive when they are released. Let’s all be thankful that the Federal Reserve and Treasury Department do not design bridges. If they did, they might “stress test” them by simulating an average load of traffic under average conditions and declare them perfectly safe.
I advise you to tune out what is certain to be an upbeat assessment of the condition of our banks, when the stress test results are finally released. My opinion is that the stress tests were specifically designed to be neither stressful nor revealing. Instead, they were designed to produce expected results for the purpose of instilling confidence in banks and in the crisis management team.
New Martenson Report Ready for Enrolled Members
by Chris MartensonThere’s a new Martenson Report ready for enrolled members.
This one concerns the results of bank stress tests due to be announced this week.
The Bank Stress Tests Have Already Failed
Here’s part of the conclusion:
A “stress test,” at least as far as I understand it from a scientific or engineering standpoint, is supposed to encompass a set of conditions beyond normal, or expected, values. The bank stress-test assumptions are already exceeded in each case by real-world conditions, and therefore will be neither illuminating nor predictive when they are released. Let’s all be thankful that the Federal Reserve and Treasury Department do not design bridges. If they did, they might “stress test” them by simulating an average load of traffic under average conditions and declare them perfectly safe.
I advise you to tune out what is certain to be an upbeat assessment of the condition of our banks, when the stress test results are finally released. My opinion is that the stress tests were specifically designed to be neither stressful nor revealing. Instead, they were designed to produce expected results for the purpose of instilling confidence in banks and in the crisis management team.
by
Chris Martenson
The economic news these days can be readily parsed into two separate types: increasingly positive “survey” data and increasingly worse “real” data.
I recently wrote about the flaws in the survey reports, so I won’t spend more time here discussing why these reports are best taken with a very large grain of salt.
First, the survey data that was released today:
Spin Cycle Set to “High”
by Chris MartensonThe economic news these days can be readily parsed into two separate types: increasingly positive “survey” data and increasingly worse “real” data.
I recently wrote about the flaws in the survey reports, so I won’t spend more time here discussing why these reports are best taken with a very large grain of salt.
First, the survey data that was released today:
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