In reality and you economists can bash me if I'm off but the truth is that the coin market continues to increase in value despite what the market does. Oh sure it might have a little slump here and there but what market doesn't? In the long run the coin market is great. How many of you are ready to complain about the current value of ANY coin you bought 10, 15, 20 or more years ago. Did you get more than 5% YOY gain? Sure you did and much more.
I was lucky in that I bought into the whole Eagle program when gold was at around $327/oz and platinum at $600/oz. Did I buy as much as I could? Heck no. That's still a lot of money and who can say where metal prices will go but the thing that I learned is that when you combine an object that has intrinsic value then combine beauty and collectability it will eventually go up. So my thoughts are, bring on a bear market so I can buy some more cheap coins!
About half of Americans voted in a way different from me in the past two presidential elections. Some ridiculous percentage of Americans believe, against all rational evidence, in UFOs, six-day universal creation, the concept of luck over statistics, that spraying a deodorizing chemical in a room freshens it up, that the banker on Deal or No Deal is really a banker, etc etc etc
If I want to know if we are in a recession, I sure as heck am not cold-calling average, decidely uninformed Jethros for their opinions. I hate opinions polls almost as much as the credence they are afforded.
You forgot to mention those who believe in chupacabras.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
How many of you are ready to complain about the current value of ANY coin you bought 10, 15, 20 or more years ago. Did you get more than 5% YOY gain? Sure you did and much more.
I would for one! There are many top graded coins from the 1990 market peak that are selling for 50% or so today. Generic gem nickel type quickly comes to mind: 3cn and Lib nickels. In fact I had a number of pieces that I kept through that market top and drop and took my lumps on over the past 0-4 years. Commems and Morgans, esp common ones are still upside down from 1990 prices. MS64 Morgans were $100 each in April of 1990. Try to sell those for a 5% profit today. MS65 Morgans were $300 at that time. Timing and quality are interlinked. Buying top quality at market peaks can cost you dearly. Buying quality at market bottoms is......well a lot of fun.
Oh, I don't know. CNN did another poll today, and 51% of Democrats surveyed said that President Bush will not win a third term in '08. This time they're right!
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
CNN Spins Poll On Recession, Instructing Us That Facts Don't Matter, It's Just "How You Feel" About the Economy
The MSM is quick and decisive in correcting public "misimpressions" about such things as Saddam Hussein's support for terrorism (despite the fact that, you know, he did support terrorists), but when it comes to a public misimpression that aids the Democrats, they're quick to justify and even amplify that error.
The fact is we're in a period of growth, not recession. This is not a "feelings" based thing. It is a fact: the economy is growing, sometimes robustly and sometimes merely adequately, and has been doing so for years.
But the Democrats and the MSM want the public to think it's in a recession, so they constantly imply that maybe it is, facts be damned. Tom Blumer (BizzyBlog) notes a CNN "expert" sagely informing viewers that the nations' economic health isn't a verifiable, mathematical fact but simply "how you feel," so liberals are encouraged to continue "feeling" like the nation is in a recession.
What. Ev. Er.
As I've noted before, when people are asked to rate their personal economic fortunes, they rate them fairly highly, and do not claim to be in individual "recessions." But when asked about the macro scale -- how the economy is doing overall for all 300 million of us -- about half of the country consistently claims we're in a recession.
And where are they getting their information about the macro performance of the economy, praytell? From the MSM of course. And then, the MSM having lied to the public about the health of the economy, they then reassure those misled by previous lies because it's all about "how you feel" about the economy.
And if the public "feels" the economy is in a recession precisely because the MSM keeps implying it is, oh well.
The MSM, in other words, endeavors to remove its agency from this erroneous strain of public sentiment. They claim it's okay to think the country is wrongly in recession -- hey, everyone is entitled to their opinion -- without acknowledging that it is their very own misreporting that has caused this mistaken belief.
posted by Ace at 02:33 PM
Sounds like something I might have said. Hey, it is!
Comments
I was lucky in that I bought into the whole Eagle program when gold was at around $327/oz and platinum at $600/oz. Did I buy as much as I could? Heck no. That's still a lot of money and who can say where metal prices will go but the thing that I learned is that when you combine an object that has intrinsic value then combine beauty and collectability it will eventually go up. So my thoughts are, bring on a bear market so I can buy some more cheap coins!
until it is well underway. It is always tracked
by trailing data. By the time all of the experts are
on board, the train wreck is almost concluded.
Camelot
If I want to know if we are in a recession, I sure as heck am not cold-calling average, decidely uninformed Jethros for their opinions. I hate opinions polls almost as much as the credence they are afforded.
You forgot to mention those who believe in chupacabras.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>You never know that you are in a recession,
until it is well underway. It is always tracked
by trailing data. By the time all of the experts are
on board, the train wreck is almost concluded. >>
I couldn't agree more. Usually we are informed that we were in one when it is either over or close to the end.
The other half................................................are in in self denial.
Camelot
<< <i>
<< <i>Half of Americans think that the economy is in a recession >>
Half of Americans are idiots. The only question is, which half?
Russ, NCNE >>
Ya, well our 50% is bigger than yours!
I would for one! There are many top graded coins from the 1990 market peak that are selling for 50% or so today. Generic gem nickel type quickly comes to mind: 3cn and Lib nickels.
In fact I had a number of pieces that I kept through that market top and drop and took my lumps on over the past 0-4 years. Commems and Morgans, esp common ones are still upside down from 1990 prices. MS64 Morgans were $100 each in April of 1990. Try to sell those for a 5% profit today. MS65 Morgans were $300 at that time. Timing and quality are interlinked. Buying top quality at market peaks can cost you dearly. Buying quality at market bottoms is......well a lot of fun.
roadrunner
then many are luck to break even indeed. However, it is a lot of fun and does fill ones
spare time. It's all a little like the Vegas gambler. They love to tell you about all the jack pots
they won, while forgetting what it cost them to win those jackpots.
Camelot
I vote YES!!!!!!
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
October 20, 2007
CNN Spins Poll On Recession, Instructing Us That Facts Don't Matter, It's Just "How You Feel" About the Economy
The MSM is quick and decisive in correcting public "misimpressions" about such things as Saddam Hussein's support for terrorism (despite the fact that, you know, he did support terrorists), but when it comes to a public misimpression that aids the Democrats, they're quick to justify and even amplify that error.
The fact is we're in a period of growth, not recession. This is not a "feelings" based thing. It is a fact: the economy is growing, sometimes robustly and sometimes merely adequately, and has been doing so for years.
But the Democrats and the MSM want the public to think it's in a recession, so they constantly imply that maybe it is, facts be damned. Tom Blumer (BizzyBlog) notes a CNN "expert" sagely informing viewers that the nations' economic health isn't a verifiable, mathematical fact but simply "how you feel," so liberals are encouraged to continue "feeling" like the nation is in a recession.
What. Ev. Er.
As I've noted before, when people are asked to rate their personal economic fortunes, they rate them fairly highly, and do not claim to be in individual "recessions." But when asked about the macro scale -- how the economy is doing overall for all 300 million of us -- about half of the country consistently claims we're in a recession.
And where are they getting their information about the macro performance of the economy, praytell? From the MSM of course. And then, the MSM having lied to the public about the health of the economy, they then reassure those misled by previous lies because it's all about "how you feel" about the economy.
And if the public "feels" the economy is in a recession precisely because the MSM keeps implying it is, oh well.
The MSM, in other words, endeavors to remove its agency from this erroneous strain of public sentiment. They claim it's okay to think the country is wrongly in recession -- hey, everyone is entitled to their opinion -- without acknowledging that it is their very own misreporting that has caused this mistaken belief.
posted by Ace at 02:33 PM
Sounds like something I might have said. Hey, it is!
Link
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>
<< <i>
<< <i>Half of Americans think that the economy is in a recession >>
Half of Americans are idiots. The only question is, which half?
Russ, NCNE >>
That's easy, the half that voted (TWICE) for the worst president in history!
Do you mean the ones that voted twice for Jimmah Cahtah? Dave W
David J Weygant Rare Coins website: www.djwcoin.com