Comments on: Foundations of Crisis http://www.ritholtz.com/blog/2009/01/foundations-of-crisis/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 14:04:19 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: CHB http://www.ritholtz.com/blog/2009/01/foundations-of-crisis/comment-page-1/#comment-137168 CHB Sat, 03 Jan 2009 10:51:46 +0000 http://www.ritholtz.com/blog/?p=14354#comment-137168 --'For it to be unassailable, your wealth must be at once substantial, free from threat of confiscation, divorced from the whims of the masses, and located in a country or currency that has a good risk/reward profile.'-- Please let us know how Argentine property qualifies under these guidelines. The arithmetic, with the peso currently at about 28 cents (versus par at the time of purchase), has that investment increasing more than 14 times in local currency terms. Not to say it is impossible, but without some extraneous event like rezoning, it stretches believability. –’For it to be unassailable, your wealth must be at once substantial, free from threat of confiscation, divorced from the whims of the masses, and located in a country or currency that has a good risk/reward profile.’–

Please let us know how Argentine property qualifies under these guidelines. The arithmetic, with the peso currently at about 28 cents (versus par at the time of purchase), has that investment increasing more than 14 times in local currency terms. Not to say it is impossible, but without some extraneous event like rezoning, it stretches believability.

]]> By: mkkby http://www.ritholtz.com/blog/2009/01/foundations-of-crisis/comment-page-1/#comment-137084 mkkby Fri, 02 Jan 2009 20:36:19 +0000 http://www.ritholtz.com/blog/?p=14354#comment-137084 This is for people who scare easily and like the typical hyperbole that sells books. On the other hand, it was a complete waste of time -- 1000 words for what could have been said in 100. He invents facts to make his point. "Maybe, after the orgy of self-indulgence and conspicuous consumption that has characterized the past couple decades, Americans collectively feel they need to prove something. There has to be some rationale for the current war hysteria other than pure stupidity…)" What war hysteria? What facts support this? I don't know what he's talking about. There was no war hysteria in either 1998 nor now. The whole thing is a sales pitch to the ignorant people who read biblical prophesies (he even brings up Nostradamus!) and think those generalities apply to whatever time we're in. This is for people who scare easily and like the typical hyperbole that sells books. On the other hand, it was a complete waste of time — 1000 words for what could have been said in 100.

He invents facts to make his point. “Maybe, after the orgy of self-indulgence and conspicuous consumption that has characterized the past couple decades, Americans collectively feel they need to prove something. There has to be some rationale for the current war hysteria other than pure stupidity…)” What war hysteria? What facts support this? I don’t know what he’s talking about. There was no war hysteria in either 1998 nor now.

The whole thing is a sales pitch to the ignorant people who read biblical prophesies (he even brings up Nostradamus!) and think those generalities apply to whatever time we’re in.

]]>