Comments on: DAVID TICE ISN’T JUST BEARISH

By: GBT

GBT — Sat, 11 Jul 2009 21:48:05 +0000

Yes, but what is Armageddon? Is it not a cleansing of the wrongs and evils of the world? So what we are experiencing is a financial armageddon of sorts, balancing and correcting decades of fiscal idiocy, quadrillions in derivatives that need to be deleveraged, judgement day for all the banks and insurance firms that engaged in irresponsible lending and underwriting. Painful? Damn right it will be painful. It will be one of the most traumatic events this nation has ever experienced. But it has to happen. It will happen. It’s not malice or even bearishness to say as much. There will be a reckoning and the accounts will be settled. After which we will go on, stronger and hopefully wiser.*

I’d like to end on a positive note but I just can’t. The last bit is where my cynicism arises. The South Sea Bubble, Tulip Mania, John Law’s ponzi scheme, Ponzi’s Ponzi scheme, the Roaring 20s, etc., etc. This has happened over and over and over and over ad nauseum. People simply don’t learn. Governments don’t learn. Governments always try the easiest route to get out from under debt, i.e., reflation; and it always ends the same way, i.e., complete collapse. So don’t blame David Tice. He’s just the messenger, not the architect. If anything he’s a student of history. And it isn’t “different this time.” It’s never different because nothing ever changes.

By: Hardhead

Hardhead — Mon, 06 Jul 2009 08:15:35 +0000

Tice has been preaching DOOM for several years now. Here are the results of his BEARX fund:

Trailing total returns
1 day 1.74%
1 week 1.26%
4 week 1.42%
3 month -5.72%
YTD -3.89%
1 year 11.27%
3 year annualized 11.14%
5 year annualized 7.77%

Note: Federated Investors, Inc. acquired certain assets of David W. Tice & Associates, that relate to the management of the Prudent Bear Fund.

By: Joe

Joe — Sun, 05 Jul 2009 23:24:02 +0000

What is going on with his unicorn hair spike?

The hosts didn’t want to hear what he was saying, and those mostly facts … such as loan originations are down.

By: Alex G

Alex G — Sun, 05 Jul 2009 21:58:36 +0000

Seems very rational to me. Actually quoted several facts. News this week even confirms some of his thoughts.

By: bosunj

bosunj — Sun, 05 Jul 2009 11:37:03 +0000

Armageddon? I listened to him and didn’t hear the word armageddon. I heard him say that for every action there must be an equal and opposite reaction and unfortunately that means a major depression. Are you equating a major depression with armageddon? If that’s the case, what do you know that the rest of us don’t? Are you suggesting the leadership will cause a world war that includes nukes to divert the public’s attention from the collapse they caused and are powerless to prevent from worsening?

By: Kyle

Kyle — Sun, 05 Jul 2009 01:06:39 +0000

Bookmarking this so next time some jackass tells me I’m too negative because I think the unemployment might get to 10.5.