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Old 09-05-2011, 09:03 PM   #21
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Many good points. I well remember the nuclear war drills we did in the early 60s. That would have done so much good--crawling under one's desk?
I still remember the drill, word for word: "Crawl under you desk or a table, put your hands behind your head, put your head between your knees and kiss your a** goodbye".
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Old 09-05-2011, 09:32 PM   #22
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Many good points. I well remember the nuclear war drills we did in the early 60s. That would have done so much good--crawling under one's desk?
My school must have been backward, "duck and cover" was never mentioned once and I was in school from 1953 to 1965.
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Old 09-05-2011, 10:06 PM   #23
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My school must have been backward, "duck and cover" was never mentioned once and I was in school from 1953 to 1965.
I was one year behind you, and we had duck and cover drills in elementary school in the mid to late 1950's. We didn't have these drills in junior high or high school.

Our neighbors had a bomb shelter built, too.
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Old 09-05-2011, 10:11 PM   #24
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I don't see any potential benefit to spending time worrying about a future that will likely never come to pass and I have little if any ability to influence.
And that could be a lot of stuff...
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Old 09-05-2011, 10:33 PM   #25
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Have your dispassionate considerations resulted in any actionable conclusions?
I don't play internet ping-pong.

So yeah, you are probably right. Best not to consider apparently unlikely scenarios.


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Old 09-06-2011, 04:16 AM   #26
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I was one year behind you, and we had duck and cover drills in elementary school in the mid to late 1950's. We didn't have these drills in junior high or high school.

Our neighbors had a bomb shelter built, too.
In the UK we still had information on what to do in the event of a nuclear attack broadcast as commercials on the TV in the 70's plus booklets issued to the public.

From age 16 I was in the Royal Observer Corps until they were finally stood down in 1991. Life feels a whole lot more secure these days.

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From 1955 the Corps operated from 1563 ROC underground monitoring 'posts' about 7-8 miles apart from each other throughout the UK.
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Old 09-06-2011, 04:45 AM   #27
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There is plenty to worry about for investors.

Some believe we never really recovered from the Tech bubble when it burst. But that the economy was propped up with low interest rates... Then we went into the joint credit and housing bubbles.

The white house is now predicting that we will not reach 6% unemployment till 2017. That is another 5 years. That would seem to mean that we could be facing almost 10 years till we fully recover.

White House: Slower jobs recovery ahead - Sep. 1, 2011

We could end up with the lost 2 decades!

Plus if we are looking at 10 years of low interest rates, there is plenty of time for low interest rates to form more bubbles.
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Old 09-06-2011, 06:32 AM   #28
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I remember 2nd-3rd grade duck and cover drills. I remember thinking that the small desk would not provide much protection when the walls dissolved in the nuclear blast, but I did the drills and forgot about it.
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Old 09-06-2011, 07:19 AM   #29
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The white house is now predicting that we will not reach 6% unemployment till 2017. That is another 5 years. That would seem to mean that we could be facing almost 10 years till we fully recover.

White House: Slower jobs recovery ahead - Sep. 1, 2011

We could end up with the lost 2 decades!

Plus if we are looking at 10 years of low interest rates, there is plenty of time for low interest rates to form more bubbles.
Here's a sobering chart from the Atlanta Fed, showing how long it will take to close the nation's "output gap" under different growth scenarios. The message here is that at less than 3% growth, we don't ever get there.



(Here's a link to the chart, in case it isn't showing)

http://macroblog.typepad.com/.a/6a00...87d9970b-popup
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Old 09-06-2011, 07:28 AM   #30
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I don't play internet ping-pong.
OK, no ping-pong, how about a little sing-along?

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