Episode-654- A Look Back to August of 2008 — 7 Comments

  1. Jack,
    Great show, and I’m really glad you upgraded your recording quality:-)
    As yesterday’s GDP numbers came out, I think that there was a lot of surprise that we had a 1.8% growth at this stage of a “recovery” where priming the pump would be an understatement because it is more like the FED is pouring gasoline on the floor. Given that the numbers are baked a few percent one way and then the other, that means that after they cooked the numbers, they got a 1.8% growth. Reality, a .5% decline is more likely. My prediction, as an amataur economist, is that they will give it one or two more quarters, and if things don’t “Improve”, then they will open the spigot again, assumming that the cure is more of the same. Which means that the bubble of the day will continue to expand, and when they still get anemic or negative growth, they will work toward killing the patient by putting us “At Ease” with QE3 or QE4. We are one hiccup away from the flu, which can turn into pnumonia and kill the economy.
    My house is on the market. Hope to downsize about 40% or more. I wish none of this were happening, but even my optimist friends are turning doom and gloom. Best case, I’ll be out of Debt. Worst case, I won’t lose my home.

  2. Holy crap you weren’t kidding about the audio. I think I came in around ep 150. Big improvement in that amount of time.

  3. great to hear an old show and look in retrospect at how you came to your assessment of the situation at the time. everything happens in front of us, but oh how we dont want to see it.

  4. I remember this episode vividly. I was very worried at the time and was thinking of moving my investments to cash. But I was unsure of my pessimism. My friends at work were making fun of my concerns, etc. This episode “pushed me over the line” and I acted. Glad I did. Glad you spoke up. Sound quality? It was clearer and with less static than main stream media in HD!

  5. @Randy:
    +1 on the sound quality. It was crystal clear to me too, and in some respects, those were the better days of TSP. I didn’t subscribe to TSP until mid 2009, but I went back to listen to the vault, and quite frankly, a lot of those types of issues need to be periodically addressed.

  6. Jack, one thing I noticed is the passion and urgency in your voice. Not sure if it was the subject or just your stress level at the time. But you seem much calmer and more low key now. Just a random thought.