Friday, September 25, 2009

Thank You, Recession

Jason said...
Hi Ferfal I just recently purchased your book from Amazon. I can't wait to read it. I wanted to share with you something really interesting I came a across on youtube. It's and episode from a show called Vanguard. And the two american reporters went to Argentina to document the state of the Argentina economy. I wanted to get your insight on it. Hopefully you post it on your blog. If the link doesn't work you can youtube "Thank You, Recession: Vanguard"

That’s crazy. I came very close to being in that program. The two women contacted me from USA before traveling here (they had found my blog) and we talked a lot. They asked me the same question, where do I keep my money.

Unfortunately we couldn’t do it because the contract required to show up on the show gave Current TV rights over my name, material and such, and it wasn’t a good idea to sign that with a book coming up.

My wife has a company in the metal working industry, and its no picnic. They are going through very hard times. It’s true that coops give the worker a greater sense of pride, but its also true that they barely survive, at all.

Anyways, just saw the video and its ok, a bit Elle magazine happy go lucky version of what happened here ( at least the part where they visit Buenos Aires). I have the impression that in that context I would have ended up looking like the crazy, armed survivalist, so I’m glad I didn’t do it.



Unknown said...

Thank you for posting Ferfal. I noticed that show tried to keep things peachy and positive. They tried to only show one side of the table. One is to wonder why don't they show any of the hungry folks the shanty towns etc. Well it was kinda of nice to see another perspective then TEOTWAWKI. I remember hearing someone say " I can't wait for this hyper-materialistic society to end. I kinda agree with that.

Keep in mind this is 8 years after the collapse. I'm sure the first few years after the collapse in 2001 was much worse than what they showed. If TSHTF in America..... will it be worse since it will be a global issue? I think so...I live in Los Angeles Oh my.....

FerFAL said...

There's always two sides of a story. I admit I dont have the "thank you recesion" attitude. :-)
I dont see the positive side of recesion, inflation, unemployment, crime, poverty, cultural deterioration, lack of foregin investment, censorship and lack of a better future. And I'm not the type of Argentine that goes pray to San Cayetano or ends up batering a pair of old shoes for a box of flan. Not trying to be a jerk or anything, it's just that my time can be put to better, more productive and profitabel use than that.
About barter for example, its just the shadow of what it once once (in 2001-2002) as I explained several times. Yet I understand why American film producers would want to show that, but I mean its not the solution to the probelm.
Same for the guy hiding his money in books... lets just say he's not the smartest person and I certainly woudlnt' adivce people to hide thier money in the most obivous place every criminal looks for.


Occdude said...

Recessions are positive events IF, they are allowed to play out.

Recessions are reactions to malinvestments that need to be repriced for reality. In Argentinas case, constant government intervention into the economy has not allowed these boom and bust cycles marked by inflation and then deflation to correct, so you get "recovery lite" a partial recovery until the excesses from the original problem catch up in a seemingly unending cycle.

In a true recession, corrections are sharp and short, as the idiots who lend the money for nonsense go broke and assets are repriced lower with everyone more smart and the people who are astute run things.

This means that in a recession housing prices, food prices and almost everything else gets cheaper. People demand and receive more for their money. Investments are harshly scrutinized for economic viability. Governments should decrease in size and scope. regulation and taxes should go down. Peoples savings should go up and everyone embraces the new reality of frugality then the ground work is laid for a TRUE recovery along economic fundamentals.

Some of the best innovations, stongest companies and best people come out in recessions and lead the way for the next hundred years, so it may sound Darwinist that you need to allow liquidation but it works, the cream rises to the top FROM an economic bottom, abundance comes from true need.

The thing is with economics, nothing goes straight up forever and you have to be prepared for that. You need to SAVE and conserve ALWAYS and have policies that encourage these traits. Also, government needs to guard against becoming too big and strangling society with well intentioned ideas that end up fostering corruption and therefore cynicism.

Anonymous said...

This note is in regard to the 2 previous post dealing with lights.
I have had great results with Tenergy brand cr123 chargers and rechargable batteries in my surefires. I get almost 1 and 1/2 hours of runtime in my G2 led's and they seem to hold a charge very well. But DO NOT USE THEM WITH REGULAR INCANDESCENT BULBS, they will blow in a heartbeat. Don't ask how I know. My guess is the voltage is too high for incandesvents but they work well in led's. HTH'S JEFF

Patrick said...

Good thing thieves don't watch pauncey american television shows.

Patrick said...

That woman is definetly buying that gold for under spot, she's probably paying no more than $900 an oz and arbitraging the melt value.

Thank you recession for giving me shaky financial markets that I can make money shorting into.

SiriusBlack said...

Ferfal, you were right not to participate. Journalists are not to be trusted, they will sucker-punch you. You won't believe how you get portrayed when the segment airs. Well played, sir.