cancel
Showing results for 
Search instead for 
Did you mean: 
BA Deere
Honored Advisor

Bill Bonner-internet can not create GDP growth

http://www.dailyreckoning.com.au/the-internet-is-a-dud/2012/12/22/    Hi Faust, I bet you like this guy too.

3 Replies
Faust100F
Advisor

Re: Bill Bonner-internet can not create GDP growth

BA - Bonner was a prime contributor to my little gloom and doom thread.  I now have it on my top sites listing thanks to your post.   Yeah!  Kinda nice to see he has not changed.  It appears Bonner confirms what all we gloom and doomers believe,and that is we cannot sustain the debt our government has put on our backs in this country.  

 

That is why the Kyle Bass video was so important, he is a voice in the wilderness that can see the forest for the trees.   We are being lied to, to protect ourselves, it would be financial suicide to be sitting in stocks (even though it has been kept pumped up by the FED so the 401K's do not become 101K's but . . . the crash is

coming.

 

The one sector that has been the exception to the rule has been grain farming and the land owned  by farmers.

I think most farmers, except maybe Big Pigs, Cattle Feeders, and Dairy have been on the winning side of this depression.  But . . . we know it cannot last forever, as Bonner points out.   So it is not bad advice to put some of the fiat money into hard assets.  That is where China is going to be sucking wind, if and when the dollar is devalued, like the Mexican Peso was.  

 

I think many of us are lucky to be sitting here in the cheap seats of the peanut section out of harms way, and watching this economy slowly slip into the abyss.  Iowa claims a 4.9% unmployment rate today.  Well, we all know that is a lie, because after four years of deprssion many on unemployment gave up when benefits ran

out.  So we have a huge unemployed number out there not the number the politicians like to publish.

 

Even the greeter jobs at Wal-mart are no longer available.   This whole country is slowly shutting down.  Great post.  Adios Amigo. John

Samnospam
Advisor

Re: Bill Bonner-internet can not create GDP growth

I don't think you can say technology hasn't grown gdp, its made up for shrink in other sectors, and since its a world economy much of the growth has occurred in other countries.
BA Deere
Honored Advisor

Re: Bill Bonner-internet can not create GDP growth

Yes, tech has "rearranged the deck chairs" at least. Before we needed 2% of the population as farmers, now with 48 row planters going 24hrs, planting straight as a string maybe we can get by with .25% needed to be farmers.  It opened up Big Mac flipping jobs anyway and that is part of the GDP and gantry crane opperators UNLOADING ocean freighters at the harbors.