Zero Hedge: The Last Time The Dow Was Here…

If you follow markets, you’re probably aware of all these facts. But to see them compiled like this is shocking. From Zero Hedge:

  • Dow Jones Industrial Average: Then 14164.5; Now 14164.5
  • Regular Gas Price: Then $2.75; Now $3.73
  • GDP Growth: Then +2.5%; Now +1.6%
  • Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
  • Americans On Food Stamps: Then 26.9 million; Now 47.69 million
  • Size of Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
  • US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
  • US Deficit (LTM): Then $97 billion; Now $975.6 billion
  • Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
  • US Household Debt: Then $13.5 trillion; Now 12.87 trillion
  • Labor Force Particpation Rate: Then 65.8%; Now 63.6%

Read the rest here.

More Raw Footage from ‘The Bubble’ – Jim Rogers

Another brilliant series of raw cuts, this time featuring legendary investor Jim Rogers, from the upcoming film The Bubble. Of the hundreds of interviews I’ve seen with Mr. Rogers, this is possibly the best. Why? Probably due to the fact that the film’s writer, Thomas Woods, is an Austrian/free-market economist like Rogers.

“American finance is going to be in a (relative) decline for the next 2 or 3 decades… 10 years ago, most IPOs were done in NY…”

“It will be good for us all when this central bank eventually disappears…”

Marc Faber Discusses the Rise of Moral Hazard, Bubbles

Raw footage from the upcoming documentary The Bubble: Who Caused it. Who Called it. What’s Next.

The movie also features interviews with Jim Grant, Ron Paul, Jim Rogers, Bob Murphy, Peter Schiff, and is written and narrated by Tom Woods. Needless to say, I will be watching this movie. It’s due out early next year.

Faber: US, Europe Getting Closer to Revolution

Key talking points:

  • Borrowing for consumption purposes is counterproductive, borrowing for infrastructure can be a good thing.
  • Within 5-10 years the [Western] “system breaks”.
  • Asian crisis was unlike next Western one will be, due to “new Keynesian” response.
  • Most Fed members make Bernanke “look like a hawk”.

More at Marc Faber’s site, www.gloomboomdoom.com.

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