We’re on the edge of a global financial meltdown

So says Overstock CEO Patrick Byrne, as he predicts complete economic disaster on CNBC. Watch it here - if you dare.

We are living at the edge of a 1929 kind of disaster.

Guess Americans shouldn’t be buying anymore Overstock crapola, right? We really better save our pennies now. The Overstocked CEO foresees a dim future for us all.

The American economy is like an old man in an oxygen tent that you flood with oxygen, but when you turn off the oxygen he fades very quickly.

Does Overstock sell oxygen now perhaps? Maybe that’s a new corporate initiative at the Big O.

Got to hand it to the Overstocked Swami. What’s rarer than a Swami CEO going public with gloom and doom predictions for all of mankind? He is one of a kind.

So, let’s review: the CEO of a company that sells junk that no one wanted the first time it went to stores is telling the world that global disaster is imminent. And it will be just like 1929 when Americans could barely afford bread, let alone trinkets from the Big O. So what happened to his company’s stock after the Overstocked Swami gave his forecast of impending global doom?

Gee, glad I didn’t own any Overstock this week.

This one will be pretty easy to follow. We have to see complete disaster begin to hit in 2008. Trouble is, if the Overstocked Swami is correct, I will be too busy begging in the streets for food to be checking back on his prognostication prowess. If I haven’t hocked my computer for groceries by June, I’ll check back in on this noble CEO and his bold predictions.

-- Filed December 11, 2007 at 7:45 pm