LET'S MAKE A LITTLE WAGER

by You Know 536 Replies latest jw friends

• 

  Commie Chris

  I am no fan of You Know, and I think his predictions of the imminent collapse of the global economy, followed by armegeddon, are silly. However, many reputable economists have argued that there was already a global economic crisis looming before Sept. 11 and that the massive government spending on defence industries in the wake of Sept. 11 has probably served to temporarily prop up several key industries. A major recession will probably occur in the near future, and this may well be followed by further cylces of recovery and recession for some time.

  Capitalism is neither sacred nor eternal, despite propaganda to the contrary. It is simply a relatively brief phase of human evolution and will eventually collapse under the weight of its own internal contradictions, just as every economic system before it has run its course. Capitalism requires continual expansion which, obviously, has internal limits. Those limits evidently have not yet been reached, but trans-national corporations will eventually run out of room for expansion, resulting in a truly fundamental crisis for the global economy. This will not, however, lead to armegeddon. On the contrary, a much better, freer and more egalitarian world will emerge from capitalism's ashes. Things will get worse before they get better, but the overall trend of human history is clearly towards greater and greater freedom and equality.

  You Know seems unable to contemplate a world based on anything but the present capitalist system and therefore concludes that its collapse leaves no alternative but armegeddon. I think there are solid reasons for faith in the ability of human beings to continue evolving well beyond the eventual demise of the present system.

  Bring on the collapse.
• 

  dubla

  and this may well be followed by further cylces of recovery and recession for some time.

  um yeah, youve just described the cyclical nature of the economy.

  Those limits evidently have not yet been reached, but trans-national corporations will eventually run out of room for expansion, resulting in a truly fundamental crisis for the global economy

  possibly, but this thread centers around a specific wager, namely that global financial collapse (and more specifically the collapse of the usd) will occur by november 1, 2001. obviously that is far from the reality that the rest of us live in, as the value of the usd has done nothing but increase in october. i guess theres still a few days left for yk though, so good luck to him!

  aa
• 

  Commie Chris

  I agree. I simply wanted to point out that there are solid reasons for believing that the present capitalism will eventually collapse, but no reasons whatsoever for believing that this will lead to armegeddon. Even when You Know is right he's wrong.
• 

  dubla

  Even when You Know is right he's wrong.

  well, thats yet to be seen, as we havent to date come across a case of yk being right.

  aa
• 

  dubla

  yk-

  guess what day it is buddy?? yep, november 1st, and astonishingly enough, weve yet to have a financial meltdown, or anything close to a "full blown panic".....LOL.

  youre not hiding are you? if you are as intelligent as you think you are, and if you are a man of his word, ill be expecting you to belly up to the bar and keep your end of the bargain, which was.....

  If I am wrong I will pay $100 to the upkeep of the JW Discussion forum.

  let the gloating begin.

  aa

  p.s. i know you dont care about the markets, but here are the final numbers for the month of october: dow +3%, nasdaq +13%.....also, the u.s.d. gained 2% on the euro, an obvious sign that its collapsing. LOL
• 

  dubla

  bttt
• 

  You Know

  youre not hiding are you? if you are as intelligent as you think you are, and if you are a man of his word, ill be expecting you to belly up to the bar and keep your end of the bargain

  Why would I be in hiding? If you go back and read the details of my little wager, I stated that the system would be in a panic or in a state of war. By any method of recokoning the United States is in a state of war. That has allowed the central banks to cut rates more deeply than otherwise and by other means pump 10s of billions of dollars into the system. It has also allowed the government to do things that would not have been likely had the economy just been allowed to slowly spiral into decline. By some accounts that in itself is a measure of panic behind the scences. At any rate, the point of my little wager was to focus attention on the events at hand. Obviously I have succeeded in that; and, I am sure that the handful of thinking person who may read this board will pay more attention to financial matters that they did previously. / You Know
• 

  larc

  Curious,

  How long has YK been making predictions? From reading on this board, I have learned that YK predicted that the Y2K problem was going to ruin us, then Oct. of last year as the date. I also understand that he made predictions back in the 1990's, but I can't remember how far back they go.

  jbula,

  Thanks for the stats. Even over the period of our bear market it has not been that bad. Over the last year and a half the market is down 18%. This does not represent a crash. During that time, the dollar had become stronger and the price of gold has not risen. The condition of the dollar and gold clearly fly in the face of YK's dire warnings.

  We haven't seen much of YK of late. Maybe he spent much of October in a bomb shelter with a stock of canned goods and gold coins.
• 

  dubla

  yk-

  well, we all expected you to somehow back out of this, or claim victory....you are acting right in line with everyones evaluation of your latest blubberings......not to mention, not one person on this board actually thought you would live up to your bet once you lost (a loss which we all knew to be inevitable).

  If you go back and read the details of my little wager, I stated that the system would be in a panic or in a state of war.

  thats right, as weve pointed out several times you stated that the financial system would be in a full-blown panic or a state of war. here, ill re-quote if for emphasis:

  I will wager 100 bucks, that before the end of the month of October that the present financial system will be in a full-blown panic crisis; and, if not in a crash-down mode, then certainly in a state of war.

  first off, lets not even discuss the state of war part. you now claim you did not mean the financial system, but you really meant the united states. fine, we shall leave that part of the wager behind. but lets notice the and after the semi-colon, shall we? the article and in this postition clearly means that in order for you to win your ridiculous bet, that BOTH of the parameters must come to pass, correct? so what was the first parameter, before the semi-colon? it was this:

  before the end of the month of October that the present financial system will be in a full-blown panic crisis

  remember everyone trying to get you to quantify "full-blown panic crisis"? you stated with your usually stupidity, that it was ridiculous to even ask for such quantification. LOL.....this is why you wouldnt quantify it, which we all knew. you now are claiming victory, because we are in a financial crisis?? ROFLMAO. we are far from a "full-blown" crisis yk, in fact, we are better off than we were at the beginning of october, as ive already shown in my previous post.

  By some accounts that in itself is a measure of panic behind the scences.

  OH, I SEE.....by "some accounts" that is a "measure" of panic. LOL. but its not exactly a "full-blown" financial "crisis", is it now blubbering one? of course its not, which, as ive shown, prevents you from claiming any sort of victory on this "wager". you have lost, but you will not take simply put your tail between your legs and pay up.....no, you like most cowards, will simply attempt to claim victory, trying desperately to save face in your hour of embarrassment. you are truly humorous, and obviously delusional.

  At any rate, the point of my little wager was to focus attention on the events at hand. Obviously I have succeeded in that

  well great, you succeeded in that, wonderful. that little success doesnt pay your side of the wager though, which is 100 dollars to the board, which you now owe.

  aa
• 

  kenny2

  Ill make a wager of one hundred dollars that on November 11, 2001 armageddon will take place or the sun will rise that day. love the cop out YK.

  Kenny