In case you didn't notice, Karl Denninger has put up his Tickercon 1 post.
This is taken from the old DefCon levels back in the Cold War. Tickercon 1 means that all your preparations should be done. Do not delay.
Has Denninger correctly called it? There's no way to know. A tornado is going to pass over your house. Will it be on the ground when it does? That's where we are at.
The thing to watch out for is being stampeded. The election in Italy signals that the problems intrinsic to Europe and the financial union are completely unresolved and unresolvable (long term). The Japanese decision to devalue was already making things unstable. The sequester is being pitched as TEOTWAWKI, but it's miniscule. The great fear of the political class is that people won't be hurt by the cuts and decide they can live just fine with less and less expensive government.
I recommend taking everything you hear for the next week or two with skepticism. To the extent possible spread serenity. Try to keep those around you thinking rationality rather than emotionally. Beware of media hype and of conveniently propaganda-rich events.
Aside from making sure you are well-supplied, no action is better than panicked action at this point.
Would you believe me if I told you I was about to send you an email today making a gentleman's bet that today would be the start of the downturn? Then you post this. Heh. Oh, and I don't have any grains stored. Better get moving on that. I did buy guitar strings on Saturday though, based on your previous post.
ReplyDeleteYes, I'd believe it. We're just old gloom-and-doomers.
ReplyDeleteGuitar strings are an essential. I don't have any spares. I need to get some next time I'm in town. Thanks for the reminder.
'Course with my guitar-playing, everybody might be better off if I just bongo'ed the naked box.
I've been thinking about getting a mandolin. Do you know anything about them?
Sorry, don't know anything about mandolins that I can recommend to you. About the guitar, I realized through Youtube that everybody on the planet except me played so I picked it up at the tender age of 48 so as not to appear too weird. I do love it though. Can't say the family enjoys my playing as much as I. Well, maybe by the time I'm 55 I may be ok. But there's always somebody better out there, isn't there? There's a lesson in that.
ReplyDeleteI have loved guitars since I was a kid, but it just never was a priority and none of the immediate family played. I had one but I never did anything with it and wound up giving it away to a kid who really wanted to play.
ReplyDeleteThen I bought my wife one years ago and learned a few chords. I don't practice enough to get any good. She won't let me keep it out here in the office, which is why I was thinking about the mandolin.
Or I could just buy another guitar since I already know at least enough to play "Victory in Jesus" and "Copper Kettle". Maybe a different body style.