With the recent selloff in the markets, people are starting to panic. Fear is in the air. Can you smell it? The peddlers of fear, aka The Chicken Little Brigade, are making the rounds again.
Let’s get one thing out in the open: Paul B. Farrell should stay in his bunker and never come out again. The old coot is at it again, predicting the end of western civilization as we know it:
“The clock’s flashing. Huge point spread. Think bear, think crash, think end of capitalism, think Great Depression II … This is no buying opportunity, this game’s in the refrigerator, call it”
Jeez. No wonder he’s never been invited to our DSMW cocktail parties. Our animosity towards the guy stems not from wanting to kill the messenger for bad news, but his failure as an “expert” (blowhard) to offer anything constructive other than to be self sufficient. As in growing your own food self sufficient. Thanks Paul.
Moving on to our other favorite Marketwatch pinata, Mark (“Flip-Flop”) Hulbert. This guy plays both sides of the coin, not only from day today, but sometimes in the same damn article. The only thing more painful than reading him is watching him on CNBC. There is no one on the entire planet that is so uncomfortable to watch than Hulbert. He makes Al Gore seem effusive, loquacious and giddy. Mark, if you’re not going to give any actionable advice, at least entertain us. If not, then why do you exist?
Last but not least is Dr. Doom, Nouriel Roubini. He is something to behold. Slightly rumpled, tie loosened slightly. Watching and listening to him, you get the feeling that this man is how Kissenger pictures himself. A dark and mysterious man, who on camera, takes no delight in, but is duty bound to deliver the grim and sobering facts to the huddled masses.
He has to practice his television glower in the mirror, right?