This recent collapse is getting a little scary!
BigE
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Japanese market down another 400 points as of right now, oil down another 5.00 to 75. a barrel. Gold up another 25.00. I actually hope this calms down a little, I dont really like this "freefalling" feeling I got------------------------BigE
I'm glad I am a Tree
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Hope all you gold hoarders plan on spending and revitalizing the economy.
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
However if liberal govenrment doesn't just stay the yell out of it, then the cleansing will take a very long time because the cleansing then has to include what liberal government also screws up such as stimulus programs which do nothing but create long term problems. We'll have to see what happens.
Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
Is it November 2012 yet?
<< <i>just put up a jacuzzi with a fence topped with razor wire. there's only so much perimeter a family can defend. >>
Good idea, plus the Jacuzzi might be a good spot to make a defensive stand since the water would halt oncoming bullets!-------BigE
<< <i>...It's a Global Depression... >>
I feel like I'm reading a 1970's science fiction book.
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If gold goes high enough you can bet that FDR-like gold moves will be considered. And in that eventually, your words ring true.
But let's start with the 4500 tons of gold supposedly sitting in Fort Knox.
Food and energy prices are screaming downward so that's a big plus for consumers. The govt won't have to report the core CPI first any more,
they can report the real one first.
roadrunner
Scrooge to Marley's ghost: Was this your promise of hope and change?
Marley's reply: It was.
Scrooge: I'd rather not then.
And, you know the rest of the story.
–John Adams, 1826
roadrunner
I don't be skeert, yet.
Luck favors the prepared; and, there don't be no such thing as too prepared.
Congrats to the folks who endured all the scorn. Get your endgame ready in
perfect time, and you won't ever have to do nothin' you don't wanna do again.
<< <i>It's all surreal. The gov bonds get down graded and instead of plummetting they go straight up? WTF? >>
Thats what happens when there is too much money schlossing around the globe. And thats why a good portion of it will be destroyed.
Knowledge is the enemy of fear
<< <i>$2 trillion of wealth has disappeared in the last 2 weeks in the USA alone. Globally pushing $6 trillion. Hard to grow economies when no on ehas any money.
Hope all you gold hoarders plan on spending and revitalizing the economy.
Cohodk,or anyone, help me with this concept of wealth disappearing. If one is short the market, dont these losses represent gains to them, so the wealth is always transferred. I have struggled with this concept for some time. I am not sure the wealth is just vaporized, but goes to the bears----BigE
<< <i>...I have been thinking about an end game and nothing smart jumps to mind , do you have any ideas you would be happy to share with us? >>
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As I have preached for years, "F&C real property is how we will always keep
score in the metal-gambling game."
When the metal number looks good enough plus some, get rid of the home
mortgages and some/all of the commercial mortgages. There is no greater
life changer for a young earner than to be relieved of his obligation to spend
his earnings on mortgage payments.
Rinse, repeat.
Thats what happens when there is too much money schlossing around the globe. And thats why a good portion of it will be destroyed.
It's freaky alright. At some point, interest rates will go up to reflect the new reality of money that is actually worth something. Unfortunately for some, before we get to that point, we will be seeing paper money worth less and less.
Is this choreographed or not? I am very suspicious of a "flight to safety" that corrals the masses into US Bonds, and I don't care what anyone else thinks.
I knew it would happen.
I doubt that "the masses" rescued bonds today.
The Fed and the ECB and the Chi-Coms and elements of the "PPT" likely did that job.
The Fed and the ECB and the Chi-Coms and elements of the "PPT" likely did that job.
No doubt, but their goal is to help people liquidate their stock ownership positions, in my opinion. What better way than to push them into bonds (that are doomed to evaporate)?
The argument I heard today, and it is an old one - was uttered on CNBC today. As if it were an argument against owning gold, the idiot said "what kind of world would we be living in, if gold were $2,500 an ounce?"
That was Wall Street's rationale for not buying gold. What kind of world would it be if people bought gold instead of stocks, bonds, hedge funds and ETFs or CDSs? What kind of world would it be if brokers and bankers couldn't skim theirs off the backs of their clients? Perish the thought.
What a load of hypocritical crap.
I knew it would happen.
and said I want out, now. She assured me the market will correct,
and not to be hasty. Correct when? How? After half is wiped out.
She said the lines have been jammed
with callers, great. I can't even sleep.
I knew it would happen.
That's what I was thinking, feel like I'm cracking up, really.
The cheerleaders at CNBC appear to be in shock. Words are
coming out of their mouths, but they mean nada.
The FBN boys seem more relaxed and look like the "I told you
so" gang.
Down 500 pts. a day for a week or more might begin the fix,
IF the QE-monkeys would stay out of the fight. IF there had
been NO bailouts and NO QE, we would already be on the road
to a robust recovery. Now, the planet is about to catch fire.
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GS overnight note: "Gold will pass $2500 before December."
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The $1850 is "old news."
The latest GS note is only two-hours old.
Went to Wealth Management Accounts.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>This shat is real scary. Called my Vanguard rep tonight
and said I want out, now. She assured me the market will correct,
and not to be hasty. Correct when? How? After half is wiped out.
She said the lines have been jammed
with callers, great. I can't even sleep. >>
You're selling on the dips and, presumably, with big money. If it's a 401k or IRA, just sit tight and wait everything out. If it's "today money/cash investments," take a longer view than the past 14 days.
Sell...and you own your losses. Hang tight and you will, eventually, buy your profits.
I sold one Brazilian sector fund today, only thing I sold and bought as much Apple on the dip as I could.
We're approaching buying country not selling country.
Usually the Aussie dollar increases in line with gold (so gold has hovered around $1500 in our currency for years) but finally gold has moved independantly of our dollar.
<< <i>Not a good sign seeing the rioting/looting spreading in London. 225 arrested so far. >>
Yep, and I think there may be some of that here on election night 2012...there will be many in the streets joyfully celebrating the change, but some in the streets not liking the change who will not be in a good mood, and so there could be clashes...how bad...I don't know...and it won't be confined to just major cities.
In any event, our country is much better off getting it over with...letting the turmoil play itself out, and cleanse the nation of liberal government at least for a decade or hopefully longer. I'm looking forward to a bright future in America after 2012...but until then it's gonna be a rough ride.
<< <i>This shat is real scary. Called my Vanguard rep tonight
and said I want out, now. She assured me the market will correct,
and not to be hasty. Correct when? How? After half is wiped out.
She said the lines have been jammed
with callers, great. I can't even sleep. >>
Mmm... I agree with your broker and consider this a great buying opportunity. You must not have gone through many market corrections in your life. Your action should have been considered 30 days ago, but not now.
When gold had it's violent 100 dollar down week from 1560 to 1460, I knew it was time for its climb back up.
I say don't buy stocks here and now. Wait for a W chart pattern to form, and then buy.
Gonna sit tight, this is the only big correction I've been through, besides 08.
This seems much worse though.
When you start thinking emotionally you make mistakes.
www.AlanBestBuys.com
www.VegasBestBuys.com
Cooler heads will prevail, that's what I've been told.
The panic mindset probably accounts for much of the losses.
I feel a little better today, tying to remain optomistic.
<< <i>Aussie market was down 5% today (after 2-3% yesterday) but finished 1% up! I don't think anyone knows what to do, we had to follow the US lead on Monday even though we had all the news on our Monday. But our dollar has dropped nearly 10% in the last few days even though we are AAA rated and US now isn't!
Usually the Aussie dollar increases in line with gold (so gold has hovered around $1500 in our currency for years) but finally gold has moved independantly of our dollar. >>
Australia is headed for a recession. Your real estate markets are stupid high. Copper prices are stupid high. Sorry Andy.
Knowledge is the enemy of fear
<< <i>Yes, it's a panic of sorts and a recession is coming, there's no question about it. The good news is that oil prices are receding as well...and eventually the lower energy costs will help the economy to eventually rebound naturally...as long as liberal government doesn't stick their stupid liberal noses in it. Just allow the cycle to cleanse itself and we'll be fine.
However if liberal govenrment doesn't just stay the yell out of it, then the cleansing will take a very long time because the cleansing then has to include what liberal government also screws up such as stimulus programs which do nothing but create long term problems. We'll have to see what happens.
Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
Is it November 2012 yet? >>
Why do this things always have to take on a political tone? There is plenty of blame to go around and to put the onus on one party is, IMHO, showing an incredible sense of naivete. If you are a believer in a truly "free market" I suggest you read Adam Smith, the "father" of free market thinking, and what he had to say about markets without encumbrances, and what those in power will do with them, he is right on.
spelling edit
This seems much worse though.
You just got your reprieve, the Dow is up 200 pts and CNBC has a gal on talking about a relief rally and that 96% of the S&P was oversold. She's saying that the penetration of multiple support levels was a classic market shakeout.
Gold is down $50.00.
Now it's gonna take QE3 to get stocks back up, again. Nothing has changed. Government spending needs to be cut; not increased. In 6 weeks, nobody will even remember this drop, but gold will continue on its way.
Nothing has changed.
I knew it would happen.
<< <i>
<< <i>Yes, it's a panic of sorts and a recession is coming, there's no question about it. The good news is that oil prices are receding as well...and eventually the lower energy costs will help the economy to eventually rebound naturally...as long as liberal government doesn't stick their stupid liberal noses in it. Just allow the cycle to cleanse itself and we'll be fine.
However if liberal govenrment doesn't just stay the yell out of it, then the cleansing will take a very long time because the cleansing then has to include what liberal government also screws up such as stimulus programs which do nothing but create long term problems. We'll have to see what happens.
Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
Is it November 2012 yet? >>
Why do this things always have to take on a political tone? There is plenty of blame to go around and to put the onus on one party is, IMHO, showing an incredible sense of naivete. If you are a believer in a truly "free market" I suggest you read Adam Smith, the "father" of free market thinking, and what he had to say about markets without encumbrances, and what those in power will do with them, he is right on.
spelling edit >>
Well...in case you haven't figured it out yet...this whole mess we are in, is all about politics. Do you think the marked increase in gold prices is due to an increased demand for gold rings? LOL
To get us out of the mess, the root cause of the problem has to be understood and addressed, don't you think?
and BTW...I've read all the books related to the subject matter.
<< <i><<Sell...and you own your losses. Hang tight and you will, eventually, buy your profits.>>
Gonna sit tight, this is the only big correction I've been through, besides 08.
This seems much worse though. >>
FYI 08 was a much deeper correction, it just took longer than the 2011 one.
Qualifying it with $850.00 adjusted for inflation is today $2,400.00.
I thought I heard there wasn't any inflation???
And then she ratted out her schoolyard crush, Timmy Geithner in the same breath.
Ack.
I knew it would happen.
<< <i>
<< <i>
<< <i>Yes, it's a panic of sorts and a recession is coming, there's no question about it. The good news is that oil prices are receding as well...and eventually the lower energy costs will help the economy to eventually rebound naturally...as long as liberal government doesn't stick their stupid liberal noses in it. Just allow the cycle to cleanse itself and we'll be fine.
However if liberal govenrment doesn't just stay the yell out of it, then the cleansing will take a very long time because the cleansing then has to include what liberal government also screws up such as stimulus programs which do nothing but create long term problems. We'll have to see what happens.
Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
Is it November 2012 yet? >>
Why do this things always have to take on a political tone? There is plenty of blame to go around and to put the onus on one party is, IMHO, showing an incredible sense of naivete. If you are a believer in a truly "free market" I suggest you read Adam Smith, the "father" of free market thinking, and what he had to say about markets without encumbrances, and what those in power will do with them, he is right on.
spelling edit >>
Well...in case you haven't figured it out yet...this whole mess we are in, is all about politics. Do you think the marked increase in gold prices is due to an increased demand for gold rings? LOL
To get us out of the mess, the root cause of the problem has to be understood and addressed, don't you think?
and BTW...I've read all the books related to the subject matter. >>
You three times said that liberal government is the problem, and without them things would return to being hunky dorey. You obviously haven't read Adam Smith or you would know that the very thing he warned against, unfettered big money, is the primary cause of our current problems. The old banking regulations wouldn't have allowed for the merging of savings and investment banks and all the other "free market" machinations by big money. This is a process that was started under Reagan and continued through the Clinton and Bush administrations, yeah, lets get rid of the regulations that are constraining free growth. What a good idea that was. As I stated before, there is plenty of blame to go around and to point your finger at one party is simplistic at best.
Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
I don't believe we have "bounced back" to being better off than we were in at least 40 years.
<< <i>Where the bottom will be, I have no idea...how high gold will go, I have no idea...but if history is any guide, America will bounce back better than ever...again...as long as liberal government stays out of it but unfortunately we all know liberal government is going to do everything they can to artificially prop things up under the guise of good intentions...which in the long run at this point could be a disaster...possibly even in the short run.
I don't believe we have "bounced back" to being better off than we were in at least 40 years. >>
I like your optimism. I wish I could share it. So , if I follow your logic, there will have to be some kind of gov't to replace the Liberal one (R & D) for decades to clean up this mess and restore America to a point to bounce back...better than ever. What kind of gov't can prevail for decades to clean up that mess that started with Reagan? And will the American people be patient enough to work for a decade or so to pay down the debt to show the world we are dedicated to restore America's once great image?
Not too much of a bounce in them.
<< <i>And will the American people be patient enough to work for a decade or so to pay down the debt to show the world we are dedicated to restore America's once great image? >>
perhaps... patience is a virtue lost in the world of i want it NOW!
WE should have started reclaiming our status, before 08.
start at the top and see if the trickle down effect has any...