Tell him he’s dreamin (economic titanic)
As you can see I wasn’t quite sure what to call this post so I’ve kinda given it two names, as above.
There’s a classic Australian movie that’s been around for a few years called “the castle“. It’s a very funny story about an Ozzie family that are about to be evicted from their home, as developers attempt to buy up the property for an extension to the airport next door.
It’s full of Aussie humour, and there’s a classic line that is revisited throughout the movie, “tell him he’s dreamin”. One of the kids in the family, Steve, is an avid reader of newspaper classified ads. Steve comes to dad regularly with the prospect of purchasing a bargain at such an such a price, he reads his dad the ad, and dad’s reply is always “tell him he’s dreamin”
To put it another way, they’re kidding themselves, it just aint worth that sort of money.
As I read an article today in our Australian media, in which the reserve bank governor is suggesting the strong possibility of an economic recovery in the not too distant future, I would just like to say this “tell him he’s dreamin” (RBA Chief Glenn Stephens upbeat on recovery)
It’s not going to happen, Glenn Stephens’ is kidding himself. The US economy is going down and she’ll be taking a whole bunch of other nations down with her, Australia included.
In the very short term there may seem to be a recovery in the stock market, but in my opinion, for what it’s worth, as soon as the markets recover sufficiently, many of the big investors are going to pull out in an attempt to recover some of the losses that they have born over these last few months.
I guess we can talk this thing up and hope for the best, I understand that Glenn is just doing his job, but if you are willing to look at the US economic fundamentals such as foreign debt, money supply, productive capacity, you will see that the world has changed, and will change profoundly as a result. It’s a little like watching the Titanic sail on with the passengers and crew in denial that such a ship could ever sink. I guess we’ll find out soon enough that there are no lifeboats to get out of this one either.
As to Glenn Stephens supposed recovery. Someone, tell him he’s dreamin.
Here are a couple of vids if you are interested in this stuff.
Thank you..
And thanks also for the “tell’em he’s dreamin” commentary…………very good!
The word on the street (gospel street) in America is that President Obama is the concierge for the anti-christ. In a vision, it was seen as “two men, one president Obama and a insignificant in the political arena”……….”the insignificant one is actually President Obama and the former mentioned aready knows he has a significant furure”!
It will all come down to this fairytale wealth (that never real existed) from the last 10-15 years.
People want it back (middle class and above), they want it back badly and the anti-christ will promise to them………were closer than you think and things are not what they appear to be.
It has come upon us as a woman with child and if anyone thinks otherwise, “tell them their dreamin”
respectfully,
Greg
Gregory
August 22, 2009 at 2:36 am
Hi Greg, Thanks for the comment. Very interesting days for sure…I just wonder how much longer this game with the economy can continue? In Australia at the moment I read recently that the average persoanl mortgage debt is now $345,000. The media and government just keep talking this thing up and it seems clear to me that when this all comes down it is going to come with such a crash that people will be left wihtout hope. Perhaps then they may seek a more enduring hope..
Cheers,
FTW
flee the wrath
August 25, 2009 at 10:12 am