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Comment by enjo | Hacker News Reader

Here we are again, trying to talk ourselves into another crash. I really don't understand the Journals (in particular) fascination with doomsday.

For every item on the list you can point to trends that are positive for the exact same metric. Like (there are a lot of other examples):

http://online.wsj.com/article/BT-CO-20100726-710938.html

I agree that the economy is quite uncertain right now. However, waving the flag of doom isn't really productive at this point. Particularly when you're cherry picking data to arrive at what appears to be a foregone conclusion. I don't know if it's a fascination with disaster or (I suspect) more politically motivated.

Either way, it makes you no better than this guy:

http://lamarhowell.files.wordpress.com/2009/01/the-end-is-ne...

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We aren't talking ourselves into a crash, we're spending ourselves into a crash by allocating the funds for rebuilding the economy to those that destroyed it and hoping that they don't decide to make the same mistakes again. Wishful thinking can't save an economy, but it can create a bubble.

More than doomsday, they play to fears. Back in 2005 it was about DOW 30k and how what a gem real estate was. The fear then was to being "priced out forever". Buy now or lose out, because your puny income won't compare with how much a 100 square foot shack costs in 10 years.

Now its about DOW 1k and losing everything you own.

I never understood how anyone could believe the priced out forever argument. A friend tried to argue it to me, but could never explain if everyone is priced out then who is left to buy? It just never made any sense to me even at the high point of the bubble.

I was successful at keeping 2 of my friends from making horrible financial decisions, but a third went ahead anyway. Now she's stuck owning a crappy apartment with an upward adjusting mortgage.

> I really don't understand the Journals (in particular) fascination with doomsday.

Because Democrats are in control?

Here we are again, trying to convince ourselves that the boat is still sinking. I really don't understand the lower galley's fascination with drowning.

For every item on the list you can point to trends that are positive for the exact same metric. The boat is still afloat.

I agree that the availability of fine wine is quite uncertain right now. However, waving the flag of doom isn't really productive at this point.

Either way, it makes you no better than that Jack Dawson guy.

I'm really beginning to hate that argument form more than Affirming the Consequent. What exactly do you think you've demonstrated? What valuable point have you established?

What purpose did your meta comment serve?

I gave you feedback that your argument was terrible. Step up your game.

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