Best case for owning gold that I have ever seen
derryb
Posts: 36,953 ✭✭✭✭✭
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
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Knowledge is the enemy of fear
<< <i>I wonder what their management fee is?
They just gave you all the advice you need - and it was free!
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>
<< <i>I wonder what their management fee is?
They just gave you all the advice you need - and it was free! >>
I think you should restate that from advice to opinion. However, I've heard similar comments 10 years ago, right after the tech bubble burst, and who knows, it may even happen this century, but I doubt, in my lifetime.
<< <i>
<< <i>
<< <i>I wonder what their management fee is?
They just gave you all the advice you need - and it was free! >>
I think you should restate that from advice to opinion. However, I've heard similar comments 10 years ago, right after the tech bubble burst, and who knows, it may even happen this century, but I doubt, in my lifetime. >>
Opinions are what you and I give. Advice is what professional investment advisors give.
I'm one of those that feels if the predictions are correct, I should be prepared. If the predictions are incorrect, I was still prepared. Either way my investments pan out - they have been doing so since 10 years ago when I also heard similar comments. Keeping my head in the sand will not affect the outcome of what happens to the economy, but it could definitely affect what happens to me.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Believe me, the sky isn't falling.
Ray
<< <i>I am an old man and have seen a lot.
Believe me, the sky isn't falling.
Ray >>
Probably not, but it just seems like we are a lot closer to the possibility (depending on how you define "the sky is falling") than we have ever been before. Most people don't realize just how bad the country's economic troubles really are. Same thing for many states, counties and cities. We have cities in California now filing bankruptcy because they can't pay their bills. To me, "the sky is falling" when the people we pay to protect us can no longer be paid.
I'm an old man too, Ray, and I've also seen a lot. But, I'm afraid we ain't seen nothing yet.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>I am an old man and have seen a lot.
Believe me, the sky isn't falling.
Ray >>
The sky didn't fall in the 1980's either, but if gold hits $6500 again (adjusted for inflation), it would be a good idea to buy some here at $1100.
<< <i>Just because civilizations haven't collapsed in recent history, doesn't mean it hasn't happened. It has happened due to economic conditions and natural ocurrences many times in the past and arguably to governments more powerful and greater (relatively speaking) than ours. Who really knows, maybe we are due!--------------------BigE >>
Maybe some have collapsed. Both Russia and Gr. Britain are mere shadows of the global dominance they enjoyed in 1900. Certainly the sky did not fall for the Brits or Ruskies..
Knowledge is the enemy of fear
<< <i>
<< <i>I am an old man and have seen a lot.
Believe me, the sky isn't falling.
Ray >>
Probably not, but it just seems like we are a lot closer to the possibility (depending on how you define "the sky is falling") than we have ever been before. Most people don't realize just how bad the country's economic troubles really are. Same thing for many states, counties and cities. We have cities in California now filing bankruptcy because they can't pay their bills. To me, "the sky is falling" when the people we pay to protect us can no longer be paid.
I'm an old man too, Ray, and I've also seen a lot. But, I'm afraid we ain't seen nothing yet. >>
The people who run money know and have known the problems for several years now. By the time J6P realizes the problem, we will be way past the bottom and on the road to correcting the problem. To address your example, firefighters should not get paid $200k per yr retirement packages. Eliminate these gross public service salaries, repeal prop 13, and California's problems will be solved.
According to an article I just read dated August 2009, the assessed value of all taxable property in California was 4.45 Trillion. Lets assume a 10% drop, so today is worth 4 trillion. Prop 13 caps taxes at 1% of assessed value, raising it to just 1.1% would net California $4 billion. Raise it to 2% and be more in line with states like New York and New Jersey and California would raise $40 billion. Of course real estate values would drop some, but I would argue that they were too high to begin with, due in part to a low tax rate. There is no reason for other other states to bail out California, when its residents enjoyed overvalued properties in the first place.
Knowledge is the enemy of fear
I certainly don't want to follow the same route that Russia followed since 1900, nor the slow path to ruin that Britain has been on since 1946.
It took Rome centuries to disintegrate. Things happen alot faster now.
Does anyone here besides me believe that the US Constitution represents the highest point of progression in the development of governance in human history?
If we lose the democratic Republic, then we've taken a bad step backwards, in my opinion.
There is only one way to keep the politicians honest, and that is not to give them the power to bestow upon central bankers the power to manipulate money. Got any better ideas than gold? I don't.
I knew it would happen.
There is only one way to keep the politicians honest
Don't pay them until their term is finished?
How about :
Mandatory two terms for all politicians. One in office, the next in jail.
"When buying and selling is controlled by legislation, the first thing bought and sold are legislators." - P. J. O'Rourke
Proud recipient of two "You Suck" awards
<< <i>
<< <i>
<< <i>I am an old man and have seen a lot.
Believe me, the sky isn't falling.
Ray >>
Probably not, but it just seems like we are a lot closer to the possibility (depending on how you define "the sky is falling") than we have ever been before. Most people don't realize just how bad the country's economic troubles really are. Same thing for many states, counties and cities. We have cities in California now filing bankruptcy because they can't pay their bills. To me, "the sky is falling" when the people we pay to protect us can no longer be paid.
I'm an old man too, Ray, and I've also seen a lot. But, I'm afraid we ain't seen nothing yet. >>
The people who run money know and have known the problems for several years now. By the time J6P realizes the problem, we will be way past the bottom and on the road to correcting the problem. To address your example, firefighters should not get paid $200k per yr retirement packages. Eliminate these gross public service salaries, repeal prop 13, and California's problems will be solved.
According to an article I just read dated August 2009, the assessed value of all taxable property in California was 4.45 Trillion. Lets assume a 10% drop, so today is worth 4 trillion. Prop 13 caps taxes at 1% of assessed value, raising it to just 1.1% would net California $4 billion. Raise it to 2% and be more in line with states like New York and New Jersey and California would raise $40 billion. Of course real estate values would drop some, but I would argue that they were too high to begin with, due in part to a low tax rate. There is no reason for other other states to bail out California, when its residents enjoyed overvalued properties in the first place. >>
Agreed, other states should NOT bail out California. However the 1% cap should remain intact. Governments MUST learn to curb spending and holding down all tax rates helps to bring about this outcome.