MarketWatch: Whodunit? 27 'villains' planning 'Doomsday 2011'

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Whodunit? 27 'villains' planning 'Doomsday 2011'
Help us write a new drama about the coming $683 trillion meltdown

By Paul B. Farrell, MarketWatch


ARROYO GRANDE, Calif. (MarketWatch) -- Films, novels, plays, TV series often begin with a simple idea. Then, after a one-liner, the idea evolves, the story takes on a life of its own.

So let's build a drama around a comment by "Irrational Exuberance" author Robert Shiller: "Our psychological vulnerability to bubble thinking is greater than it's ever been ... We recently lived through two epidemics of excessive financial optimism. I believe we are close to a third episode, only this one will spread irrational pessimism and distrust -- not exuberance."

Barron's Mike Santoli says the market has seen a 12% jump in a week while fewer stocks have made new lows, eliciting calls that we've finally seen an enduring bottom. Is this being too optimistic?We know the "last two." What about the future, the "third episode?" Let's plot a new drama: "Doomsday 2011," a date paralleling the April 21, 2011 global war in "Terminator," when Skynet takes over the world's military defense systems, to destroy humanity.

Plausible? Yes. Many readers grasp Shiller's "third episode" scenario. My warnings go back five years. I was reminded of them last week watching Jon Stewart roast Jim Cramer. Reminded of my book proposal and manuscript, ready in 2006, way ahead of the coming meltdown, even predicting another yet to come. Rejected. Denial everywhere. No sale.

More warnings in 2007 before the meltdown. More rejections, even as forecasts became facts. Today, new warnings: Worse yet to come.

Let's build a plot, the characters. What'll propel today's global credit meltdown into the future: Who's calling the shots? Anybody? Everybody? Nobody? By 2011 we'll know "whodunit." But why leave it to future historians? Speculate, create history. Besides, aren't you already doing it, probably based on your political ideology? ...........(more)

The complete piece is at: http://www.marketwatch.com/news/story/Whodunit-Choose-27-villains-fomenting/story.aspx?guid=%7B9976851F%2D60FD%2D4464%2DA33E%2DCDFE18BD930C%7D&dist=hplatest