Fascinating Presentation on Economics

[Sukerkin]

I came across this as a link on a news article that TF linked to about a totally different story.

It's long and dry but it tweaked my economists soul from the start - probably because I agree with the basic assessment of the talk (and have been saying much the same here for years).

http://www.stansberryresearch.com/pro/1103PSIEOAVD/PPSIM617/PR

The only thing that confuses me is why it is considered 'offensive' or 'controversial'?

HUGE WARNING: I posted this after watching the first twenty minutes or so and, thinking that it was worth putting up to chat about, linked it here. It turns out that this 1.5 hour presentation is a 'pitch' to sell books/packages for working the financial and commodities systems as a private person. Not necessarily a bad thing but hardly the academic lecture I thought this was. Apologies.

 

[Ken Morgan]

Sorry...I shut it down five minutes in, I got tired of him telling us how ****ed we all are and how great he is for recognising this all before everyone else...all in the introduction....

I'm guessing he is saying that high debt is bad and as the US is still the dominate world economy, it's bad for the world, the only way to pay down the debt is to let inflation go up, so you are paying down the debt with cheaper currency, which in turn drives prices up around the world, so those on fixed incomes, those with pensions and those with investments are screwed.

That about right?

In the long introduction he talks about riots and the over throw of governments around the world essentially as a result of huge US debt loads. Nope, sorry disagree there, lots of reasons are to blame.

 

[Sukerkin]

It's more wide sweeping than that, Ken. If the US loses it's status as host for the reserve currency then things will fall apart even faster than they are doing now.

It happened to us (Great Britain) which is why we are a shrunken remnant of what we once were.

I haven't yet gotten to the end of the talk (it is very long as I said) so it maybe that there is a 'sting' in the tale for the chaps company - but he's not wrong with the core economic matters he's talking about.

 

[Big Don]

Sorry, Suke, the first word and the fourth should not be in the same sentence...

 

[Sukerkin]

OKay - this goes on forever. No wonder there is no progress bar on the file embedded on the site!

The basic premise is correct and the description of the economic consequences are accurate but there is no need for this presentation to go on and on.

Listen to the first twenty minutes or so to get the idea. I'll report on what the conclusion is when he finally gets there ...

 

[Sukerkin]

Sorry, Suke, the first word and the fourth should not be in the same sentence...

ROFL - don't worry, Don. After all, one of the group of letters after my name is B.A. {Hons} Economics :O. Somethings I find fascinating may indeed be deadly dull to others .

 

[billc]

Started listening. You wrote, listen for the first twenty minutes...how do you summon the will power for it?

 

[Carol]

Started listening. You wrote, listen for the first twenty minutes...how do you summon the will power for it?

Summon the will....hmmm....has anyone seen Sukerkin and the Green Lantern in the same place?

 

[Sukerkin]

He's still going now!

Even I am fed up with it now, especially as it is now starting to sound, after huge prevarication, to be a don't-get-poor 'play' to garner business for his company.

As I said, the basic economic premise is on the money {yeah, economics pun attack!}. There is also some interesting recent economic history in there. But it is a monumental 'advert' to sell some books and investment packages.

 

[Sukerkin]

OP amended with a duration and intent warning i.e. this this is an hour and half long and is for the eventual purpose of 'flogging' financial services.

 

[granfire]

OP amended with a duration and intent warning i.e. this this is an hour and half long and is for the eventual purpose of 'flogging' financial services.

Looking at it from this side of the pond, and hour and a half is not enough flogging of the financial sector....

 

[Sukerkin]

:chuckles: Aye. But in this case I meant the useage of the word 'flogging' that means to "sell" rather than to "beat" .

 

[billc]

Here is a book that is getting the attention of a lot of people.

http://www.amazon.com/gp/product/08...mp=1789&creative=9325&creativeASIN=0805091203

"Reckless Endangerment," apparently goes into the economic meltdown and names the names of all the players, from both sides of the political spectrum and from the financial side of the crash. I haven't read the book myself, yet, but it is supposed to be the accurate account of what actually happened.

Here is a review of the book from the New York Times book review...

http://www.nytimes.com/2011/05/29/b...-by-gretchen-morgenson-and-joshua-rosner.html.