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Comments about ‘Hugh Hendry is still in "doom and gloom" mode’

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Published: Thursday, July 19 2012 1:26 p.m. MDT

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SEY
Sandy, UT

This article will go almost unnoticed because it's not fodder for Republican vs Democrat potshots. Hendry is one of the most successful hedge fund investors of this bear market. He hits the nail on the head here:

In May, he told a conference that the politicians had not really come to grips with the scale of the global debt bubble that was now disintegrating. “We have reached a profound point in economic history where the truth is unpalatable to the political class — and that truth is that the scale and magnitude of the problem is larger than their ability to respond — and it terrifies them...” Hendry feels that the financial markets are in risk of a major crash which could present the opportunities of a lifetime.

We've been warned.

Diligent Dave
Logan, UT

I would 'amen' what Sey in Sandy said.

And I would add that the financial problem is actually secondary to two (2) underlying problems.

1) One is socialism. Bernie Madoff was able to run a Ponzi scheme, mostly on his own, for apparently close to half a century. Government run Ponzi schemes, like Social Security and MediCare can perhaps run longer, because government can force, to a point, payments into their Ponzi scheme/s.

2) An even bigger problem is declining/too low human birth rates. Europe's financial crisis, even with socialism, would not be as bad IF Europeans were not at severe sub-replacement fertility levels. This crisis has been in the works for more than half a century! Therefore, it certainly won't be fixed, because it cannot be, in a few months or even years (if ever)!

Trying to be cheerful when you are in an airliner plunging rapidly earthward will not necessarily reduce the speed of your descent, nor avoid the slamming of your craft on the surface of the planet. Of course, one is doomed if one does not try to change things. However, trying and being where trying can do anything, are separate.

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