Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Paul Farrell - The End is Near
Old 10-20-2009, 08:35 AM   #1
Recycles dryer sheets
beowulf's Avatar
 
Join Date: Oct 2007
Posts: 466
Paul Farrell - The End is Near

Farrell has been getting more doom and gloomish with each column - this is his most "sky is falling" yet.

America's soul is lost, collapse inevitable Paul B. Farrell - MarketWatch

Anyone think he's right??
__________________

__________________
beowulf is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-20-2009, 09:29 AM   #2
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
All we can hope is that "sky" holds up until 12/21/12. After that .... well, you know ....
__________________

__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 10-20-2009, 09:36 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,531
Oh gosh - this is just such typical Farrell. Why do I even bother to read his stuff? Here he is "passing stuff along" - but still, how sensationally can you do it? Ah hah - now we get why he is doing it - to sell media.

Yes, there is something wrong with the Wall Street entitlement mentality, (unlike the article they feel no fiduciary duty to shareholders either) and it does appear that it's right back to business as usual instead of learning something from the past year.

But the rest of us learned something, and I suspect reigning in will occur. We got real close to total collapse. I don't think that's been forgotten. Whatever goodwill wall street had with main street is gone, gone, gone.

But even with all that, I don't see the impetus for a "collapse". And even if the US somehow implodes, I don't see the rest of the world coming down too. There is so much global business out side of wall street. Just instead perhaps that the US becomes irrelevant, and that is not necessarily a bad thing.

Whatever.

Now, if this article had been written in late 2007 or even very early 2008......

Audrey
__________________
audreyh1 is online now   Reply With Quote
Old 10-20-2009, 09:37 AM   #4
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
My impression? He makes some good points here, but the doomsday tone is going to cause a lot of people to tune it out -- which is unfortunate.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 10-20-2009, 10:16 AM   #5
Recycles dryer sheets
 
Join Date: Feb 2007
Posts: 71
This makes me feel like cashing out and going to 100% FDIC CDs (or TIPS)! I am so tired of the uncertainty of what the future holds. Seems like the U.S. will NEVER be able to pay off it's debt.
__________________
emi guy is offline   Reply With Quote
Old 10-20-2009, 10:43 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Oct 2006
Posts: 3,820
Like Audrey, I see and entitlement philosophy and no willingness to make any changes. They will continue to get richer and send the bill to the rest of us.

However, if "collapse" means Americans starve because the trucks stop running and we can't get food into our cities, then I don't see "collapse" in the next ten years. My "bad scenario" is a decline in living standards. But we're starting from a level where average Americans can afford cell phones and personal computers.
__________________
Independent is offline   Reply With Quote
Old 10-20-2009, 10:47 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I quit reading his column awhile ago because I felt so hopeless after I read them. He may be right, but tell me what to do to make it better which he neglects to do often...just too much of a downer for me.
He reminds me of the old time preacher I heard in Arkansas who predicted the end of civilization where all the rocks would fall from the mountains and the oceans would overflow, and the world would shake from the 4 corners of the earth (let's forget the earth is round for a minute there)...just his technique to scare people into listening to him I guess. Ferrell reminds me of him with all his scare tactics all the time. It gets old to me listening to a downer all the time and where are his solutions?
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 10-20-2009, 11:21 AM   #8
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
So I post THEN read the article and see his reference to 2012 .... laughable!

These dooms-day-scenarios are concocted by a group of underachievers who are triing to put some meaning in thier lives. The same group who were drinking Jone's Punch and dieing to ride the comet.

I expected more from Farrell.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 10-20-2009, 11:37 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
Quote:
Originally Posted by CATAMAN View Post
I am so tired of the uncertainty of what the future holds.
You need some Zen in your life.

Quote:
"The best way of preparing for the future is to take good care of the present, because we know that if the present is made up of the past, then the future will be made up of the present. All we need to be responsible for is the present moment. Only the present is within our reach. To care for the present is to care for the future."
I just love koans:

Quote:
A novice monk approaches his teacher and asks, "Is this a bull market or a bear market?"

The teacher replies, "If it is a warm day, and I say that it is winter, will you still wear your heaviest coat?"

Causes and Conditions

"This is, because that is. This is not, because that is not."
or is it all as simple as:

Quote:
As Zig Ziglar says, "You can tell your wife that she looks like the first day of spring, or you can tell her that she looks like the last day of a long, hard winter. There is a difference."
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 10-20-2009, 11:45 AM   #10
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
I agree with Ziggy. The sensationalism is counter-productive. Instead we need to work on specific issues he raises that have merit.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 10-20-2009, 11:48 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,531
Quote:
Originally Posted by RonBoyd View Post
You need some Zen in your life.
Quote:
"The best way of preparing for the future is to take good care of the present, because we know that if the present is made up of the past, then the future will be made up of the present. All we need to be responsible for is the present moment. Only the present is within our reach. To care for the present is to care for the future."
That is a really great quote! It reminds us that even though so much of the future is out of our control - and it will ALWAYS be uncertain - the key is to focus on what IS in our control - and that is our lives today.

Far too many people waste precious angst over things outside their control (and I see quite a bit of that on this board and it seems so unfortunate). Why suffer like that? Why let yourself get totally bummed out because bad things could happen in the future? The best way to deal with fears of the future is to live your life to your fullest today. Who knows? You might not even be around for that future you are worried about.

Don't let the bloodsucking media distract you from the magic of your own life!!!!

Carpe Diem!

Audrey

P.S. Remember! It's the media's job to distract you from your own life under the guise of "keeping you informed". Why? because it often keeps you watching their cr@p and that's how they make their money. And if you get sucked in, the quality of your own life usually suffers.
__________________
audreyh1 is online now   Reply With Quote
Old 10-20-2009, 12:11 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
An even better explanation:

S O R R Y C O M I C S: HUBBERT'S PEAK
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 10-20-2009, 12:55 PM   #13
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
Quote:
Originally Posted by audreyh1 View Post
That is a really great quote! It reminds us that even though so much of the future is out of our control - and it will ALWAYS be uncertain - the key is to focus on what IS in our control - and that is our lives today.

Far too many people waste precious angst over things outside their control (and I see quite a bit of that on this board and it seems so unfortunate). Why suffer like that? Why let yourself get totally bummed out because bad things could happen in the future? The best way to deal with fears of the future is to live your life to your fullest today. Who knows? You might not even be around for that future you are worried about.

Don't let the bloodsucking media distract you from the magic of your own life!!!!

Carpe Diem!

Audrey

P.S. Remember! It's the media's job to distract you from your own life under the guise of "keeping you informed". Why? because it often keeps you watching their cr@p and that's how they make their money. And if you get sucked in, the quality of your own life usually suffers.
YES!!! What Audrey said!!!
__________________
Goonie is offline   Reply With Quote
Old 10-20-2009, 01:54 PM   #14
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 463
The same Farrell article is quoted on a long thread on Harry Browne's Permanent Portfolio I've been following over at the Boglehead's Forum. On p. 33 of that thread a wonderful guy with the web moniker Medium Tex has these words of wisdom about the article:


Quote:
The thing that Cassandra pieces like that tend to get wrong, however, is that they take a valid thesis regarding decline and telescope many years or decades of events into a more compressed timeline, which makes the looming experience seem more terrifying, which in turn has a way of crippling one's ability to think rationally and make good decisions in the present.

Ultimately, I have found that thinking of the demise of our society, economy, culture and political institutions is a bit like thinking about my own death: I figured out at some point that I was going to die some day and figured out how to make peace with it. I am also aware that other human institutions also pass away, and I try to make peace with that as well.

Against this backdrop of heavy doses of reality, it isn't surprising that people turn to fantastic beliefs and belief systems that promise what Harry Browne called "a more enticing future." Who cares if it's true or not if it makes you feel better today, right? I have often thought of our whole debt-based monetary system as a form of secular religion that ultimately relies for its viability upon beliefs about the future that are at best delusional.

The trick, I suppose, is to see the world as clearly as our senses will allow without allowing the experience to exhaust us or rob life of its meaning or sense of purpose.

Lest I leave things on a dark note, I recommend Joseph Campbell's "Hero With a Thousand Faces" as a way of finding meaning based upon the experiences of countless generations that grappled with many of the same issues we are grappling with today (including the grief of losing a treasured way of life).
Here's the link:

http://www.bogleheads.org/forum/view...=579081#579081
_________________
__________________
kevink is offline   Reply With Quote
Old 10-20-2009, 05:44 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,445
Screw him. I can't afford any more med's than I'm already taking.
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 10-20-2009, 06:09 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Quote:
Originally Posted by Dawg52 View Post
Screw him. I can't afford any more med's than I'm already taking.
Yeah **** that doom and gloomer.
__________________

__________________
Notmuchlonger is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ron Paul Hydroman Health and Early Retirement 21 08-12-2007 01:03 AM
Paul Farrell~ 10 tips for us irrational investors mickeyd FIRE and Money 3 01-09-2007 07:26 PM
Who drives the END of their dead end street? thefed Other topics 17 06-13-2006 03:01 PM
Paul Farrell Brat FIRE and Money 14 12-15-2005 09:14 AM
Hi... I'm Paul piranha Hi, I am... 1 03-06-2005 06:41 PM

 

 
All times are GMT -6. The time now is 05:42 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.