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abitare (99.44)

'Conspiracy of Optimism.' (David Tice, Marc Faber, Peter Schiff)

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June 03, 2008 – Comments (7) | RELATED TICKERS: SKF , SRS , LEH

"Fat, drunk and stupid is no way to go thru life son"

Dean Wormer 

Dean Wormer provided some timeless advice Americans should heed. Borrowing $1-2 billion a day to support consumption does not make much sense to me. It is a systemic problem that will correct, likely to fall on the next generation.

Someday we will look back and think about how stupid a "consumption based economy" is. How is it logical to have economy that borrows $500 billion a year and is 70% consumption based? It is amazing to me that there are not more bears and bearish views on CAPS. I would expect stocks like LEH to be 80-90% underperform, but LEH is nearly 50/50. Is it a Conspiracy of Optimism?

David Tice is not my favorite Bear. But I like his term "Conspiracy of Optimism" here:

 

Marc Faber is one of my Favorite Bears. 

Peter Schiff is one of my Favorite Bears: 5/28/2008- Part 1 Ron Paul Advisor Peter Schiff On FBN

Of course the Classic Bearish Video: The Dollar Collapse 

 

7 Comments – Post Your Own

#1) On June 03, 2008 at 8:00 PM, abitare (99.44) wrote:

Animal House 

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#2) On June 03, 2008 at 8:09 PM, binv271828 (< 20) wrote:

Excellent. I liked the way you opened and closed with Dean Wormer. :)

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#3) On June 03, 2008 at 11:02 PM, Tastylunch (29.97) wrote:

Thank you sir may I have another!

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#4) On June 04, 2008 at 3:19 AM, Tastylunch (29.97) wrote:

my favorite bear

one of the worst PSAs in history

 

 

actually I think I'll still go with Meredith Whitney (she counts right?), She's one of the few female bears I've ever seen (or noticed at any rate), that's bonus points for trailblazing in my book.

 Your choices were all top notch guys though. Surprised you didn't include Jim Rogers. 

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#5) On June 04, 2008 at 7:47 AM, XMFSinchiruna (28.57) wrote:

Great Post!  Stand strong, though, when people try to label you a permabear.  That's a very different thing, and connotes a personality of pessimism that I do not think applies one bit to the rationally bearish investor given the historic set of circumstances that are upon us.  I look forward to the day when we can all be bulls again.  :)  It could be a while.

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#6) On June 04, 2008 at 9:19 AM, binv271828 (< 20) wrote:

Abit and Sinchiruna,

Amen. Abit, you had a blog talking about being bearish but still staying positive. I think that is exactly what a lot of us (speaking for myself at least) are looking for: Ways to be optimistic, and things/industries to be optimistic about, even though we are bearish on the economy in general.

 

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#7) On June 04, 2008 at 6:37 PM, abitare (99.44) wrote:

ALCON,

Thank you for replies. 

Tastylunch,

Funny....don't get me started on the animal videos. I did that a couple weeks ago.  

TMFSinchiruna,

ty, I prefer to be a bull, but I cannot ignore the sum of what I see.

binv271828,

I some point I will return to bullish, but that might not be for years. But there is far to much optimism in the market, that does not align with the news.

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