Search This Blog

Sunday, January 16, 2011

American Insanity

While I was in Nevada last week, I met a man from Oregon who said that Rose Bowl tickets were selling for 1500 dollars. I watched the game for free in the nice warm confines of the casino.

Who pays 1500 dollars for three hours of entertainment? What kind of idiocy makes someone rationalize that watching a college football game for 500 bucks an hour is a worthwhile expenditure?

That's the America I live in now. A hundred thousand people with so much money that they can waste it on shit like that. As a libertarian, I support your right to waste your money anyway that you choose. Here's a comment I snipped from the Economic Collapse Blog. This gal has some sense of priorities which did not include wasting half a months net salary on a sporting event.

The Baroness
Keep up the good work! I am tired of trying to wake people up. My husband and I are only concerned with ourselves (and others who have seen the light). The collapse is coming and its going to be BAD.
Instead of spending $500-$1000 on Atlanta Falcons tickets (yes we had friends that spent that last night for a football game) we took that money and bought more PM and supplies. Its called priorities.

Our "Baroness" has her priorities more in line with the times. I conjure up a picture in my mind of Nero and a nation of idiots paying vast sums for entertainment- fiddling while Rome burns. It reminds me of that bizarre scene in the movie Titanic. The band comes out onto the deck of ship while it is sinking- as though somehow that was the appropriate thing to do.

The Baroness is buying precious metals. The other day on the blog I had a commenter tell me that the government will simply change the rules and outlaw precious metals if the currency collapses. I laugh when I hear that. The government seized gold once. But this time it is different. Nobody is going to turn in their precious metals. I'm not. And the government can pass all of the laws they want- trying to keep us scared and paying us with worthless paper. They're not going to like the metal they get from me.

I have upped my cash conversion levels to 40% precious metals. My deadline is June of this year. Why June? Well that's when the FED and Bernanke wrap up QE2 and the great bank stock buying holiday draws to a close.  At that point, the banks still won't be solvent, the economy still won't turn around, tax receipts for the first 9 months are going to come up another trillion short, all those Ca. mortgages begin to reset higher, taxes will ratchet up, inflation and oil will ratchet up (T Boone Pickens is calling it north of 150.00), and the FED is going to have to try QE3. The resistance will be tremendous. Our debt level at that point will be beyond 15 trillion with no end in sight.

Gold and silver took a big hit when the CFTC ruled in favor of big banks once again (Big Surprise!) last week. Apparently they can short silver markets beyond available and existing supply. Option holders should take delivery of the underlying commodity. The underlying commodity is no longer of any consequence. I see this as a huge buying opportunity. Gold and silver may go down a bit further, I'd love to see sub 1300 gold and buy a couple more ounces. Sub 25.00 silver means I'd double my amount.

I love it when people spending 1500 bucks on a football game call me crazy for spending my money on precious metals. Ain't that just rich?


arerix said...

3rd of February is the start of the year of the rabbit (or hare) in the chinese calendar. This years rabbit is metal in character, I found this on wikipedia:
"Metal is the decline of the matter... Metal is yin in character, its motion is inwards and its energy is contracting. It is associated with the Autumn, the west, old age, the planet Venus, the color white, dry weather, and the White Tiger (Bai Hu) in Four Symbols. The archetypal metals are silver and gold."
Fun stuff, but a bit chilling.

More fun stuff: "Wallace and Grommit in the curse of the Were-Rabbit"
"A voracious beast is eating all the produce. Can it be stopped?" Seems to fit in with the times, the chinese calendar and all.

rawmuse said...

I am a musician. Here is a notorious musician story. The band did indeed play as the ship was sinking. They knew they were doomed. After the news of the sinking, a month later, envelopes arrived to the widows of the musicians in Southampton, from the White Star Line. Inside was a bill for the uniforms of the musicians, since they had not been returned to the company!

Brian said... artist? Excellent. And good story- so stupid I believe it must be true. Back then, I would not be surprised if honest widows did in fact, send the money in.

rawmuse said...

The band playing as the ship sank has always appealed to me as the ultimate futile gesture. So completely useless as a means of survival, yet so necessary that it be done, if for no other reason than for the comfort of the dying. And think of the fortitude that it must have taken to have done it. Playing an instrument is difficult under normal circumstances.

Brian said...

I have never thought about it that way. Futile but necessary. Interesting. Maybe it wasn't so futile after all...