The Blow-Off Begins? 1929 Chart Says Yes!

It’s a conditional  “Yes” – and while this is normally the kind of thing that we save for our subscribers, the reason UrbanSurvival is here is so a large following can track (and grade) our thinking on economic matters.  Even if we differ on the politics of free lunches and what-not.

A bit of background on all this work:  I took my masters in business back in the late 1990’s and my focus was on long wave economics.  Shortly thereafter, I did a paper in September of 1999 which was called “Death By DotCom ” (DBDC)

I’d become aware of the long wave during my news director days from 1970 to 1983 in Seattle.  Many brilliant people contributed to my thinking including Howard Ruff who was out promoting his Rough Times and the late financial novelist Dr. Paul Erdman ( Silver Bears, Crash of ’79, and who can forget  The Billion Dollar Sure Thing.” )

Erdman actually spent some time in prison because in those days, the head of a Swiss bank, which he was before writing, was responsible even when underlings did something wrong – which they did – so he took the penalty.  My, how times have changed?  Notice Jon Corzine is back?  Like I said, different times back then…

Point is that I’ve been studying the “Long Waves” in the economy for coming up on 50-years now.  And not sure I’ve come to any conclusions except to say that a) there are waves but their analysis is complex because b) all waves are self-similar depending on how you “adjust your data.”  Still, all have similar impacts.

By the way, this matter of “data adjustment” is precisely the fraud of “climate change.”  You see, in economics there is a semi-rigorous set of rules for “seasonally adjusting” data.  In Climate studies, there is no such set of rules and so “adjustments” are  as much designed to get more grant money and build resumes, rather than actually measuring for and rigorously discounting the massive measurement distortions of things like “heat islanding.”

But that’s not the point of today’s little ditty, either.  No, what we’re going to do is simply line up two number series on a chart, draw some lines and allow you to draw your own conclusions.

A word about the data sets.  The black trace in the following chart is the Dow Jones Industrials from 1920 through the mid 1930’s.  The Dow was a very good representative of the economy back then because the index included transports, manufacturing, and so forth.  I won’t bore you with looking up the individual components, but their version of “tech” was radio and companies like RCA.  There were also “trusts” which are not entirely dissimilar from sector ETF’s we have today.

Naturally, we like to think of ourselves as the “best and smartest people ever” but the Truth argues the point.  I recently bought a 1,096 issue collection of Popular Mechanics on eBay (it was like $30-bucks on 4 CD’s) and it is amazing to read about the electric vehicles that were being trialed for postal delivery work in 1905!  So much for best and brightest, huh?

The second set of numbers has its basis in my masters work.  This is a modern “Aggregate Index” of US Markets.  You see, in order to get the same proportion of “all industry” that was represented in the compact Dow a hundred years ago, you need to include weighted portions of the Dow, the S&P, and the NASDAQ in order to understand the modern market.

Next, you “norm up” the old 1920’s data so it’s scaled the same as present times and what you get is this:

A word, or two, about what this chart represents – in my view which is not to be taken as trading advice!

The first area circled – at left “A” – is where the 1929 market began its blow-off.  At “B” we have the modern analog..

The black arrows and the red arrows are explained in the chart text and that really forms the investor decision – paradox really – that we presently face.

Sure, sure, everyone likes to say “This time it will be different!” but that’s a pantload because it always ends the same regardless of whether you’re talking Tulipmainia (1632-1637), or the South Sea Bubble (1716, but that’s going from memory) to the 1840’s Depression in the US, the Long Depression from 1873 through almost 1900 and of course the Great Depression of the 1930’s.  All the same tune.

There are some commonalities in terms of investor survival strategies.  The main one you ought to be concerned about is preservation of a job and a roof over your head.

When the banks began to fail in the 1930’s they called in mortgages and that forced people out of homes.  Banks back they had loosey-goosey reserve requirements and when bank woes (and runs) began, the little banks (down at the corner within walking distance) simply shut their doors.

When people lost their homes, another knock-on was that people were no longer able to fend for themselves from their home gardens.  If you search “The Hungry Years,”   after you get through the Neal Sedaka album hits, with any luck you’ll get to The Hungry Years: A Narrative History of the Great Depression in America.

That’s the kind of thing you ought to be reading instead of having your head up your (digital game-based distracted) butt.  Because there’s much to be learned.

Coming up on 10-years ago, one of Elaine’s boy’s asked m e what I thought about him taking a job with the Post Office.

“At some point in history, it would be a terrible idea – you’d be out of the rising tide of a soaring economy.  But, you’re in a position where you don’t have the inclination to learn heavy-duty programming and develop quick-turn-over IP, so  take the longer view and remember that government workers generally kept their jobs in the Great Depression.

One of the joys of being old (like over 70) is Elaine and I can still remember the “old days.”  In my case, it was the grandparent’s home (on dad’s side) where grandma Bessie fed the whole family:  Husband, three boys, and two girls out of the garden out back that took up the whole backyard.  On Elaine’s side it was grandparents living in a home without running water and an outhouse – which she remembers as a child.  Along with the proverbial “pot to piss in” when it was too cold to go to the outhouse.

No, this is not a nostalgia trip.  The point is you can read up of any of the Great Recessions, look at the “human suffering” angles and then sort them out using our seven major systems of life that we cover more deeply in various Peoplenomics report.

You see, when the crap hits the fan it hits what?  Peoples’

  • Food
  • Shelter
  • Transportation
  • Communications
  • Environment
  • Energy
  • …and Finances

Regardless of whether you put any stock in our ” 1929 Replaying” possibility, the key things to focus on (out here, not in phone-space and cyber worlds) is the real-deals.  How are you going to eat?  Where is your food from right freaking now and what are your supply vulnerabilities?

Apply that kind of “If Disaster, then X, Y, and Z happen, and my plan to avoid that pain is to “right now” get on with avoidance actions 1, 2, 3,. and however much it takes.

We have very well-off friends and we far, far below our means.  But that’s a matter of choice.

On the Peoplenomics side tomorrow, there’s a long article coming up about how to prepare a serious shop an how one can be organized (with pictures and examples).  We’ve also got a “Great Tomato Race” going because we are doing some actual growing/yield/labor comparisons because that is the kind of information you really need to have worked out in advance of the crap hitting the rotor.

OK, sorry to get off on a rant (almost a junior Peoplenomics report but not).  I just wanted to put some of these concepts “out there” so when you read things like articles a bout food growing and building a massive home shop on the Peoplenomics side of the house, it’s not that we’ve lost our “economic star to steer by.”  It’s that we’re in a period – if the chart above is anywhere near right – when we should all be paying down debt and getting ready for what could be coming.

Although we may give a certain presidential candidate a lot of crap about Native American heritage, we also publicly acknowledge that  “Elizabeth Warren says the ‘warning lights are flashing’ for the next economic crash” is the best outlook we have heard on the economy from any of the hopefuls including Trump.  Trump’s problem is that if the bubble blows before 2020, he’ll be a single term prez.  And this chart says that’s something to spend some time thinking about.

We now return you to an abbreviated morning report…

Financial Data

Redbook and some housing price data coming later, but for now, the market’s set to open up a hunsky, or so.  +103 on the Dow at click time.

Possibly Useful Information (PUI)

This being National Tequila Day…

Rate cut hype is everywhere: Since 1990, the stock market does this every time in the week ahead of a Fed rate cut is but one example.  If the Fed actually anticipates the correction to come, there’s a chance to hyper-extend the rally we’ve been in since 2009 but that’s a long shot.

Counterpoint in “What Is The World Going To Look Like If Rates Ever Normalize”.  I’d remind you rates in 1929 were topping 6% in New York.

An American Leadership Crisis is becoming “normal” as Gartner Survey Shows Only Half Of Business Leaders Feel Confident Leading Their Teams Today.

Another Historical replay: Historic US Senate hearing eyes cannabis banking hurdles, but major reform seen as long shot.  The rhyme part?  Depressions bring legislative relief by drugging the masses.  So when we note that Prohibition ended Dec 5, 1933, we will not expect national loosening of the Harrison Act and other anti-weed laws until the bottom of the Great Depression to Come.  When it gets here, it’s a good marker to go long again…

Amazon for Preppers? Former head of Amazon Business joins Boxed, a start-up selling household goods in bulk.

Watch LMT: Lockheed Martin profit rises 22% on higher F-35 deliveries.  More important?  LMT is leading in compact fusion development.  Long shot but…

Got’cher “rockers?” Harley-Davidson cuts 2019 shipments guidance after sales slump.  We swear Harley could be a giant among the younger people with less dough if they’s just build a Honda-90 clone… But hey, obvious to a marketing/rider doesn’t mean it will fly…

There goes another Fed Vacation on the taxpayer’s dime: Budget Deal Avoids U.S. Government Shutdown Before 2020 Election.

Mid-Engine –Finally!  Look, my ’86 Porsche 944 had a mid-engine, as did the 1970’s 914 and especially the screaming 914-6.  So,, based on the mid-engine 914 being brought out in 1969, we figure it has taken GM’s high performance Corvette just over half a century to catch up with Porsche. 51-years late, here comes the C8: 2020 Chevrolet Corvette: Why It Was Time to Move the Engine.

Well, time to move my engine to the feed bin, so moron the ‘morrow…

43 thoughts on “The Blow-Off Begins? 1929 Chart Says Yes!”

  1. George … Been thinking for a long time about the “seven major systems of life” and believe it’s one system short of a full deck.

    In today’s reality of human “being” … Health plays a major role both in and is affected by each of the “seven systems”.

    Perhaps it’s time to update the seven to eight and include “Health” as each supports the other just as health supports the original seven. Ill health, lack of medical services, non-existent life sustaining drugs and the inability to obtain direct health care will play a major role in any of the life altering events you expound upon.

    Health does not supersede the others but without it, one would not need the others very … long.

    • Grteat point, BUT in my worldview construct, Health is the result of Environmental factors.
      EG in a clean environment there is no chemicals or smoke or pollution to cause cancer, for example. Or if the lifestyle is low stress, who needs blood pressure meds? If the food we eat, the air we breathe and all the “environmentals” are squeaky clean, then health is the result – people’s bodies are designed to work well but they don’t because we don’t feed or care for them right. Which is why we pay so much attention in our personal lives to DNA and the geography which our bodies were designed for. Elaine and I are both Scandinavian DNA’ed so if we eat the foods of that region, we do much better. Make sense?>

      • Curious? Where, when and how soon is this Uretopia realization for your discerning … readers?

      • “Health is the result of Environmental factors.”

        Phew.. I don’t know about that.. I think it is a toss up between Hereditary genome markers, environmental and social..
        I don’t think environmentally there is really any real safe area’s in the USA.. and most of our food is imported.. our medical supplies produced in countries that have no water standards at all.. so chemicals can be administered into the body while in surgery or naturally.. from personal use. or industrial use.. almost every part of the USA you should have a good filtration system on your homes.. at least for drinking…
        not to mention your genome makeup and hereditary traits.. all play important factors..

  2. Rather than a C-90, they should bring out a smooth running 800cc with fairings like a Honda Pacific Coast. Three “trunks” built in plus luggage rack, built for two, and ride in the rain without getting too wet.
    Wish I’d bought one when they were new.

  3. I’m 81 and lived the first ten years of my life on a farm in MN without electricity. So very familiar with an icebox for refrigeration, the trips to the outhouse, and reading evenings using a kerosene lamp. My life sounds like an ancient dinosaur. LOL

    Farmers could not afford electricity because of the high cost of installing power poles to their farms. REA (Rural Electrification Administration) was a created by Executive Order in 1935 by Pres. Roosevelt as a New Deal public relief program to revolutionize life in rural America. It was a few years after WWII before it came into our central MN area.

    • “Farmers could not afford electricity because of the high cost of installing power poles to their farms.”

      At the last place i worked we needed a fiber circuit installed @ a business location, zip 48116.

      The value added reseller (VAR) was reselling AT&T circuits. The sidewalk, alley, etcs… had to be broken up to get the circuit to the building. Much to expensive for the business.

      Using federal grants ATT installed the circuit for “free” to the business.

    • What are your thoughts about comparing Donald Trump to Herbert Hoover, another “two-termer” who didn’t quite make it to the second term because of unforeseen circumstances. Seems to me we’re repeating the ’20’s economically and policy-wise…

  4. George

    “this matter of “data adjustment” is precisely the fraud of “climate change.””

    A new paper published by researchers form the University of Turku in Finland suggests that even though observed changes in the climate are real, the effects of human activity on these changes are insignificant.

    “GCM-models used in IPCC report AR5 fail to calculate the influences of the low cloud cover changes on the global temperature. That is why those models give a very small natural temperature change leaving a very large change for the contribution of the green house gases in the observed temperature.”

    And from Japan:

    Prof. Masayuki Hyodo and his team Yusuke Ueno, Tianshui Yang and Shigehiro Katoh from the University of Kobe in Japan in their paper published this month in propose that the “umbrella effect” is the main
    factor behind climate change.

    “When galactic cosmic rays increased during the Earth’s last geomagnetic reversal transition 780,000 years ago, the umbrella effect of low-cloud cover led to high atmospheric pressure in Siberia, causing the East Asian winter monsoon to become stronger. This is evidence that galactic cosmic rays influence changes in the Earth’s climate.”

    These can be found at The Global Warming Policy Forum:

    You never here about this research on the 6pm news! Wonder why?.

    Don’t laugh about the Cosmic Ray research! I once had a nomograph, (short research paper), from Texas Instruments that explained that occasional resets of Flip-Flop integrated circuits can be caused by cosmic rays. I used this paper to successfully explain why a data dump from a production activity had a few bad data points that could not be explained or repeated in subsequent production runs.
    Those rays are highly energetic and can easily penetrate modern buildings!

    • The old nomograph is no longer available so for the more technically inclined I offer the following out take from a current TI manual available at:

      Preview: Radiation Handbook for Electronics, Texas Instruments

      The terrestrial radiation environment.

      The terrestrial radiation environment exists within the Earth’s atmosphere, from sea level to flight altitudes (typically up to a maximum of 13 miles or 22 km) and at all latitudes and longitudes. Three sources of radiation dominate microelectronic reliability failures in the terrestrial environment:• Very localized alpha-particle radiation (<50 ?m from active silicon devices), emitted by the natural radioactive decay of unstable isotopes like uranium, thorium and their daughter isotopes.• High-energy cosmic-ray neutron radiation, produced as a byproduct of nuclear reactions between galactic and solar high-energy protons with the nitrogen and oxygen nuclei in the Earth’s atmosphere. The resulting neutron flux depends on the altitude, latitude, longitude and solar activity.• The interaction of low-energy cosmic-ray neutrons with an unstable isotope of boron (10B) in a microelectronic device. SEE's dominate microelectronic reliability in the terrestrial environment. Most reliability failures are related single-event upsets (SEU's) – the flipping of digital bits in memories and sequential logic and the occasional single-event latchup. Additionally, in high-voltage power devices, single-event burnout can be a reliability concern in the terrestrial environment.TID and displacement damage (DD) are not considered major effects in the terrestrial environment because neutron and alpha-particle event rates are simply too low to cause an appreciable accumulation of dose for typical electronic product lifetimes (decades). The reliability of microelectronics in the terrestrial environment is thus the sum of failures induced by the three natural radiation mechanisms: alpha particles, which are localized within a few tens of microns from active device areas; nuclear reactions between nuclei in the device and penetrating high-energy cosmic-ray neutrons; and nuclear reactions induced by low-energy cosmic-ray neutrons and 10B. In order to accurately determine the reliability impact of SEE's on any device, you must account for the contribution of each of the three components in the terrestrial environment.

  5. Sell the blow off..yeah yeah yeah, markets can remain irrational for longer than “the average bear” can remain solvent – what does say about average?

    “Don’t fight the fed” – yeah yeah yeah cept precious metals have recently found their mojo and are trending higher..”pump it up, until U can feel it.” -Elvis C.

    Which of course will lead to the “Japanifacation” of the US – Zerobound Forever..

    Quick G – up in the sky, its a bird, its a plane..nope just a fast moving visitor coming twixt Us the Moon tomorrow, perhaps heralding the coming sky show – Perseid’s

    Picture if U will a clear night sky, temps in the mid-low 70’s, a very dark state park, somewhere in Pennslytucky within hours drive, a$10 tijuana blanket, a lil Oil for the vape, lil wine for cleansing vape residue/iritation in mouth, and of course Mrs make everything “fine as frog hair” – basically free nighttime entertainment. Stay Calm and Party On!

  6. George, another interesting piece on economics. Will go back and reread. Thank you.

    But, again, on climate, you’ve got it backwards. A simple analogy, please. If 97 out of 100 reputable scientists/engineers conclude that the bridge is structurally unsound, you close it. Period. Then reopen it when 97 out of 100 give it a clean bill of health.
    Your position again today seems to be that you just let the public keep using it — until it is absolutely, definitively proven unsafe.
    I know this is an unpopular position here, but surely you must concede that my analysis is just plain commonsense. Best, Mike.

    • If 97 robbers want to steal from the poor and give to themselves?

      Ground corporate jets, go back to slower higher fuel efficiency per seat mile and let people have a path to build and license their own vehicles…

      No, we don’t want the answers.

      So I sit here at my solar-powered tree farm sequestering something like 20 tons of carbon a year and growing both hydroponic and dirt gardens for food and ask How can Mike not understand the environment?

      Have fun as the grocery store. Living at the end of the conveyor has done something to your objectivity about change. Remember, 10+ years on a sailboat and coming up on 18-years on my tree farm. I think I’m a lot more first-name with nature than thou and if I tell you it’s a con? Same bag as the $3.00 Hillary’s sold as novelties….

      We don’t have much, but we have reality.

      • George, there is a path to building and licensing your own car design. It exists in many states, though you’ve alluded to Texas not wanting to participate. There’s a relatively new federal law allowing for space to build street rods and replica cars that avoid a lot of the federal BS. In my state it’s relatively straightforward if you do the work and have receipts for everything. I think the State Police do an inspection to look for stolen parts and you have to have obvious stuff like lights and wipers. It can’t hurt to have pictures of the building process(similar to experimental category aircraft). It’s just a lot of work. I may do one when I have time. There’s a national organization(Specialty Equipment something) that did a lot of work on clarifying the legalities.

        I really don’t care about sequestering carbon, but I really do value liberating oxygen!

  7. In my MBA program, where case studies were used in each course, one of the options we were required to present as a case solution was “to do nothing.”

    I do wish that a requirement for all people opining about how to deal with what is coming in the USA were required to present as an option “leave the USA.”

    Contrary to popular opinion, things are not the same everywhere, and the USA is simply no longer the best place to be, as the more than 1 million Americans living outside the USA will attest. The USA has turned into clown world, because if you take an honest look at the politics and financial situation in the USA, you can only conclude that this could not be done by rational human beings, but only by a bunch of clowns. The real truth is that the people you see in the media are mentally ill, but admitting this is more frightening than most folks can handle.

    Remember, if you have not visited one of the top 10 locations in the world where expatriated Americans are living, what you believe about expatriation is what somebody wants you to think, and I guarantee you they do not have your best interests at heart.

    And as far as prepping goes, if you have not turned off your water and electricity for at least two weeks in the summer and in the winter and hunkered down in place to test your plan, there is about a 99% chance that your preparations will fail.

    As the Minnesota farmer noted above, self sufficiency is really hard, hard work, and without the creature comforts we know today. If you are not physically capable of working 12-18 hours a day as I did as a kid in Nebraska, I suggest you find an alternative.

    You might just try somewhere that the cost of living is a fraction of where you are now, and seniors are not only respected, but honored.

    • What you missed is real Americans don’t run away to some foreign country which most likely would sink into a depression without the USA. The USA will right the ship as the truth is shown that the lunatic left is not yours or anyone’s friend.

      You are right about shuting off the lights for 2 weeks. I did it with the grandkids in the backyard for a weekend & it was a lot of work. Never again, I will move to Ecuador & pay the locals substandard wages to do everything like you do. I am sure they will be very happy.

      • Newsflash! Crossing the county line doesn’t make you an international traveller. We have enough of this nativist rhetoric in the mainstream media. Don’t bring it here. And BTW, the ugly American doesn’t last long outside the United States. Assimilate or suffer. Now a retired U.S. servicemember, I spent many years overseas during peacetime. I was repeatedly reminded that American cultural profligacy is not flattering.

      • Google. Hint: Ecuador is on it; so’s Costa Rica, Panama, and Columbia. As hard a time as I sometimes give EE, he’s in a good spot until the SHTF. When the U.S. gets itself buried in a pile of poo, every other nation will get buried under a mountain of it. Barring a Marxist takeover or EMP, the U.S. will also be the first to dig itself out. In the event of the aforementioned, NOBODY will dig themselves out and we’ll have several hundred years of worldwide totalitarianist anarchy. Are you ready for MadMaxLand? If not, don’t assume it won’t come to a tropical paradise to which you ex-pat…

      • “Barring a Marxist takeover or EMP, the U.S. will also be the first to dig itself out. In the event of the aforementioned, ”

        I don’t know Ray… grid down EMP.. parts are manufactured in china.. NASA estimate twenty years to replace equipment. Car parts.. we would have to adopt the inginuity of Cuba. Our parts are produced in other countries. We have been dumbing down our youth for decades.. importing our brains from other countries.
        A good indication of what could happen is take a long look at cities like Detroit and steel mill cities that have been basically destroyed poverty stricken because of outsourcing..people chasing a piece of paper or a generated number.. conveniently the tool and die the real craftsman are at the age where they are unable to teach the young..
        We may not be able to recoup faster.. knew a guy that lived in a dumpster.. those like him will make it..they live it we don’t . The colonies the amish.. they will make it..
        Those of is dependent on others to provide our comforts .. what was the estimated loss from an EMP 97 percent of the population…

    • “The USA has turned into clown world, because if you take an honest look at the politics and financial situation in the USA, you can only conclude that this could not be done by rational human beings, but only by a bunch of clowns.”

      Does that not apply to most countries??????????

      There is someting wrong w/ most humans, IMHO!

    • Amen Expat….its easy to read a hell comes visiting where it tells you to shuffle to the left or weave to the right book.. quite another to live it.. sort of like sitting in your chair watching the super bowl God if he would just dodge that guy he would get a touch down..yet we are sitting in the chair chips and tacos while he is playing the game..

      Sewage and garbage what is the estimate five or seven pounds of trash a day.. turn off the water.. the electricity.. hell turn off the tv for a weekend try to get along without your cell phone or internet… lol lol lol lol..
      Like my friend that razzed me.. about solar..then had the power shut off ran out of fuel lol lol lol

  8. Corvette trying to become a Ferrari. Just using the Ferrari ideas. No more shifting transmission on the floor or clutch. Engines viewed thru back window. Loud engine. But the Corvette with the bells and whistles will probably cost $80 to $90,000. While a Ferrari will run you $215,000.
    Good friend had the 914-6. Back in mid 70’s. It was fast for its time and handled great. Don’t know if Chevrolet can male a good handling car.

  9. Just a reminder, George…one of the lousiest cars produced by GM under the Pontiac banner was the mid-engined Fiero. I hear many of them burned up.

    But I love the ‘Vette too and owned two of them at one point.

    • The Fiero was a great idea. GM’s beancounters utterly destroyed it before the brass ever saw the final blueprints. You can buy one today, take it completely apart, and build it into the car Pontiac should have built — for about $28000 + labor. Pontiac wasn’t allowed to put the ~$1300 at the time into it which would have made it a “Dino killer,” and safe, and that’s a shame…

      The worst of these stories ever was the AMC Pacer. American Motors’ engineering team was dominated by the Studebaker whiz kids who designed the Hawks and the Avanti. AMC was a relatively small company and had no budget to build anything more radical than the Marlin and Rebel. After being allowed to (join the “ponycar” market very late) do the Javelin and AMX, genuinely hot cars with (look surprised) questionable appearances, the whiz kids designed a revolutionary chassis for a next-gen sportscar. IIRC the body was a cross between the ’70s Opel GT and the modern-day Tiburon. It employed composite transverse leaf springs, rack & pinion steering, those strange shock absorbers that that McPherson guy came up with by leaving out half the suspension bits, a complex arrangement of multilinks and anti-sway bars, and suspension bushings made out of some plastic-y compound instead of natural rubber. AMC’s brass dictated that it should first go into a new “compact and fuel-efficient” car, because that was “what the market wanted” (granted, this WAS during the fuel embargo years…) However it was the beancounters who nixed 100% of the chassis design, as being too expensive to implement in an econobox.

      If’fn you know anything about cars, you know exactly what I described, and the significance of those Stude engineers has been far-less lost on you than it was, the (soon-after-this-decision-to-be-bankrupt) folks at American Motors…

      • Th car we called the Cadillac was a car I picked up for a hundred bucks great car no air comfortable seatsgreat radio.. if you were blind you’d swear you were riding in a Cadillac lol.. got it at the tow truck place. Heck the car I drive now I got for two hundred and I’d trust it to drive across the usa.. it was totalled out in an insurance deal.. only to discover the girl owning it had it from birth and was as anal as I am on automobile maintenance..
        I put over a hundred thousand on the Cadillac before it died of old age..I have almost two fifty on the beast now..
        I had a chance to buy a vette at the towtruck place.. two hundred.. took a look at it.. gorgeous from a distance.. get next to it..totally ripped and shredded.. I asked what happened to it..someone steal it..the guy said nope cops caught him carrying drugs ripped it apart inside looking for more.. what a shame looked like the took ax’s to the interior.. test drive a Bentley could have had it for pennies. Four years old.. twenty thousand miles on it beautiful hand rubbed wood and leather.. lol 267,000.00 new .. needed a brake job. The salesman said if I offered him fifteen he’d make it mine lol they wanted to get the brake job out of it..

      • ‘Was looking at a Ferrari “fambly car” a few years ago. I was looking for a second car and several people were selling the 400i on fleabay for <$20k (less than a gently-used Chevy.) I mean, really, who wouldn't want to go roadtrippin' in a Ferrari? Upon investigation, and learning a "tune-up" from a reputable wrench cost $28,000, the answer to that question was "ME!"

        I suspect a Rolls or Bentley would have the same "issue" with maintenance and repair costs…

  10. Hate to be ‘that guy’, but to the best of my recollection, fortified with a trip to Wikipedia, the 944 was front engine. You are perhaps referring to a different Porsche model.

  11. George if what the post today of What Does it Mean.Com is 50% fact we may see some changes.

  12. Mid-engine, not a necessity. The Citroen DS’s were great handling cars, had a ridiculous amount of body-roll and nearly a 40% difference in f/r weight balance, but the engineering Citroen put into the suspension compensated marvelously for a vehicle which, by American standards, should not have been steerable. Chevrolet (and Ford) Racing do a helluva lot of engineering which never sees production vehicles, and which CAN make Corvettes, Camaros, Mustangs, and even Ford’s Taurus platform handle as well as any factory Porsche or Ferrari. Unfortunately, it CAN’T do it for much less than the cost of a top-shelf Ferrari or Lambo, which makes them a no-sell. Who, other than a Team driver, wants to drop 180 Large on a ‘Vette, the resale of which will drop like a rock, when they can spend 100g’s more on an Italian supercar, the retail of which will drop like a feather, for 11 years, then begin to rocket into the stratosphere? Answer: No one. Hence the $80k Vette that’ll pull .98g and do 64mph through the slalom. It’s damn’ good, compared to Grampa’s ’63 Valiant and Wifey’s SUV, and that’s good enough for Chevrolet to sell every one they make…

  13. “we will not expect national loosening of the Harrison Act and other anti-weed laws until the bottom of the Great Depression to Come. When it gets here”

    George.. now that brings up an interesting take on the affects of Marijuana legalization..

    Now my question…….



    We see the economic facts from the states that have legalized marijuana.. think of the effects of a farmer having a new crop of a product that has so many positive aspects you cannot count them.. on the evening news the other day.. they had a company that is developing the new cotton gin.. but for marijuana to harvest and separate the marijuana plant into the different marketable product sections.
    we already know that having it illegal hasn’t stopped use of it for recreational purposes.. all that did is increase the amount of money that is needed for legal and housing of those incarcerated.The same as alcohol during the prohibition It has given the profitability of the sales to the criminal element rather than communities to grow and expand.
    Now I wouldn’t use it for recreational because I don’t have that desire.. the same with alcohol.. I only have a drink once in a while with family.. and then I nurse it..
    The last time I had read it..the estimated taxes that could be generated from legalizing marijuana and taxing the various products ( except medical and pharmaceutical Products of course) produced by the plant would generate … If I am not mistaken an estimated three trillion dollars a year.. give or take..

    So did taxing alcohol actually bring us up out of the abyss during the last depression.. would legalizing and taxing marijuana and all of the products it would be used for keep us from the Abyss of the next depression.. save farmers from collapse with a new versatile crop that could be planted. Not to mention the revenue that has to be generated at present to enforce the Harrison act..
    also as all of us know.. the use of more caustic drugs like heroine etc.. is down in area’s where marijuana is legalized.. so are accidents and violent crime.. I have been for legalization ever since I started to weigh the positive against the negative aspects.. and the statistics show that those that will be addicted to it.. are already addicted to alcohol.. and the statistical number is what two to ever quarter million people.. which is for me saying Milk is banned because there are ten thousand people with lactic allergies..

  14. “When people lost their homes, ”

    Sadly the vast majority of us are only a few paychecks away from living in a tent city.

    Consider a man I met last year that had some of his military records vanish and his retirement stalled until the senator can get it straightened out. Hes homeless on the street. After a long career with the armed forces.
    He lost his home all his belongings everything.. if one of us was to go the daily expenses would force the other to sell..

    • The kicker on that.. is the vast majority of Americans have their mortgages through banks that sell their mortgages and mortgage loan companies that get the financing from foreign countries..
      Now if I’m not mistaken didn’t Congress pass legislation a few years ago that would allow foreign companies and Individuals to take physical posession of land and property in the continental USA. ( so that they could sell the ports of entries and a few toll roads) at least there are a bunch of companies around here owned and operated by china..
      With a thirty day pull the loan clause that leaves the vast majority of Americans vulnerable..

    • If you don’t own your own home and have assets secured to pay the taxes for it in an extended run of bad luck, then pay attention. Now is the time for you to get your plan B ready. Any property which you hold the title to is more valuable than property with a mortgage. Inherited property, deer camp, fish camp or family farm can be your rock to hang onto in a raging credit deflation river. If all you can manage is a tent on the side of the road, then buy a good one while the money is still coming in, and get your roadable vehicle paid for. The next major downturn will leave the rent-it-all generation flat-footed and gasping. Don’t get caught without a solid fall-back plan.

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