More Gold worries

[sishya]

Re: More Gold worries

I'm not a Republican, Steve, although I did vote for Ronald Reagan - twice. Aside from radical egalitarianism (equal opportunity not being sufficient for Pseudo-Leninists), sanctioned and subsidized baby-murder, Christian bashing, impossible-to-fund government mandates, porn and sodomy shoved down the American people's throats through judicial activism bordering on the insane, redistibutionist tax thievery, race-baiting ala Al Sharpton and Jesse Jackson, what do the Demonrats have to offer the world?:mad:

you forgot about other wonderful attributes of democrats - pedophile loving, killers never get death sentence, gun hating(so that we will always be pawn of Leftists), family values hating, Lawyer Loving, Armed Forces hating. There are many more wonderful attributes.

[loweyecue]

Re: More Gold worries

Never forget that this horrible economic trainwreck was caused by the Republicans (the Repukes). And the Republicans have their political base in the South.

Aside from nationalism, xenophobia, racism, prejudice, resentment, back-lash, cowboy capitalism, winner-take-all, phonics, English-only, and all the rest, what do the Republicans have to offer America and the world?

If you want to get graphic about it we could add hunting down and savagely killing wild wolves from helicopters for sport and any other form of cruelty to animals you can imagine. It's their "god given right" I think.

Oh, and while everyone faults Clinton for it few ever mention that a Republican majority congress passed the law to repeal the Glass-Steagal act.

But to me their single greatest acheivement is convincing the rank and file of working class Americans to vote against their own self preservation and in favor of further polarization of wealth. Trickle down indeed!

[Raz]

Re: More Gold worries

...But to me their single greatest acheivement is convincing the rank and file of working class Americans to vote against their own self preservation and in favor of further polarization of wealth. Trickle down indeed!

The Republicans didn't convince the rank-and-file working class to "vote against their own self-preservation" - Jimmy Carter and Walter Mondale did. Along with a lot of help from Alan Cranston, Frank Church, George McGovern, and dozens of other leftist pork-pushers who overregulated American business and supported uncontrolled greed among labor unions. By the early 1970s American labor was becoming increasingly uncompetitive with the Japanese, and the inflation caused by Democratic Big-Government programs (and the "we are all Keynesians now" collaboration of phony conservatives like Nixon) was destroying the savings of the working class. THAT is the meat of the issue as to why they voted Republican. (Not to mention that we had a small problem with a militant communist superpower which had by then built up a military far bigger than our own - and was threatening us at every vital choke-point they could enter, while "bed-wetting liberals" like Carter and Church constantly ridiculed the threat.)

However, the problem of today is that the Republicans betrayed conservative principles and metamorphed into the same arrogant, spendthrift fools they threw out in 1994. And with the collaboration of Clinton and Greenspan they allowed bankers to run wild and set up so much fictitous credit funny-money that we are now all in a big pot of poop.

[LargoWinch]

Re: More Gold worries

but am looking more for longer term dividends in recession proof firms with solid cash flow and no debt.

go ahead Uno...enlighten us.

[LargoWinch]

Re: More Gold worries

Miker has now spoken and delivered a verdict. It's final (make that terminal). We Americans are all fooked. Maybe if we're lucky the Limeys will accept us back as a colony and then we can look to Queen Elizabeth for some real leadership. I expect those ramrod southerners will be the first to leap at this opportunity for redemption.

Luke, the problem is that Mike & crew have been fooked since they got rid of Diana.

[Down Under]

Re: More Gold worries

America is a one party state, but because your American you have 2 of them!

Mike

Brilliant!

[vanvaley1]

Re: More Gold worries

Am I mistaken in that I'm seeing more mea culpa pronouncements from individual parties that controlled and influenced the economy in the last 30 years? Well...maybe mea culpa is defining it too narrowly. They actually haven't apologized nor shed tears of shame but just admitted that they made 'mistakes' in judgment bout human nature and how it applies to economics and the application of thereof to that 'science'. The list seems to be getting longer: Laffer, Kudlow, Greenspan, etc. etc. etc. Has Rush owned up to this yet? I know Bush I & II and Clinton won't do it. Lord knows neither party is going to accept responsibility for it.

The problem with this observation is that these folks seem to attached a silent rider that's saying that though they were wrong they are personally not fincancially responsible. There's no penalty to pay here. "Shucks folks it's just a mistake. How bout some sympathy and forgiveness for my ignorance, verbosity, arrogance, scheming, etc. etc. etc. ?" More apropos...How bout some drawing and quartering? Or at least confiscating wealth...legally, of course,...in compensation for those errors in perception bout human nature that have and are continuing to destroy the lives of folks they took an oath to protect. Where's Henry VIII when ya need em?

[vanvaley1]

Re: More Gold worries

Am I mistaken in that I'm seeing many more mea culpa pronouncements from individual parties that controlled and influenced the economy in the last 30 years? Well...maybe mea culpa is defining it too narrowly. They actually haven't apologized nor shed tears of shame when they admit that they make 'mistakes' in judgment bout human nature and how it applies to economics and the application threreof of that 'science'. The list seems to be getting longer: Laffer, Kudlow, Greenspan, etc. etc. etc. Has Rush owned up to this yet? I know Bush I & II and Clinton won't do it. Lord knows neither party is going to accept responsibility for it.

The problem with this observation is that these folks seem to attach a silent rider that's saying that though they were wrong they are personally not financially responsible. There's no penalty to pay here. "Shucks folks, it's just a mistake. How bout some sympathy and forgiveness for my ignorance, verbosity, arrogance, scheming, etc. etc. etc. ?" More apropos...How bout some drawing and quartering? Or at least confiscating wealth...legally, of course,...in compensation for those errors in perception and application bout human nature that have and are continuing to destroy the lives of folks they took an oath to protect. Where's Henry VIII when ya need em?

[cjppjc]

Re: More Gold worries

Am I mistaken in that I'm seeing more mea culpa pronouncements from individual parties that controlled and influenced the economy in the last 30 years? Well...maybe mea culpa is defining it too narrowly. They actually haven't apologized nor shed tears of shame but just admitted that they made 'mistakes' in judgment bout human nature and how it applies to economics and the application of thereof to that 'science'. The list seems to be getting longer: Laffer, Kudlow, Greenspan, etc. etc. etc. Has Rush owned up to this yet? I know Bush I & II and Clinton won't do it. Lord knows neither party is going to accept responsibility for it.

The problem with this observation is that these folks seem to attached a silent rider that's saying that though they were wrong they are personally not fincancially responsible. There's no penalty to pay here. "Shucks folks it's just a mistake. How bout some sympathy and forgiveness for my ignorance, verbosity, arrogance, scheming, etc. etc. etc. ?" More apropos...How bout some drawing and quartering? Or at least confiscating wealth...legally, of course,...in compensation for those errors in perception bout human nature that have and are continuing to destroy the lives of folks they took an oath to protect. Where's Henry VIII when ya need em?

Find me a quote where Laffer admits he was wrong. Same with Kudlow. I'm sure all they say is the Rino's did wrong.

[kingcopper]

Re: More Gold worries

America is a one party state, but because your American you have 2 of them!

Mike

quoted for truth!

[GRG55]

Re: More Gold worries

...And there were some other interesting remarks made on CNBC to-day, Friday, March 6th:

The CFO of GE said that unregulated short-selling in the amount of less than $100 million dollars per day was driving down GE stock and the driving down the entire stock market. He said that short-sellers were having a free-for-all using derivatives. He wondered why the government was still allowing this.

And this gets back to Bernanke: Why did Obama keep Bernanke at the Fed when another Fed chief might now be using government money to trap the short-sellers and force them into losses? (Those are my words, not those of the CFO of GE, but this is what he was inferring to me.)

Bernanke is Bush's man at the Fed, and he does not belong at the Fed now. The whole approach should now be to RE-regulate the markets and take no prisoners of the cowboys who are destroying the stock market.

Last year the SEC banned the short selling of virtually every financial and near financial stock on the Board. Go back and have a look at what happened to their stock prices during that time...Didn't help Citi and friends one little bit. So what's the logical conclusion? Short sellers are driving down stock prices, when short selling is banned?

Australia currently has a ban on short selling. Doesn'thave helped prop that market either.

How much longer are we going to listen to the failed management of failed companies, trying desperately to find a scapegoat for their own lack of care and attention to their shareholders?

THe shareholders of GE are voting no confidence. Have been voting so for quite some time now. Now it's a Triple A grade speculation, instead of a triple A grade investment. Who's fault is that? Short sellers? Hardly...

[FRED]

Re: More Gold worries

Last year the SEC banned the short selling of virtually every financial and near financial stock on the Board. Go back and have a look at what happened to their stock prices during that time...Didn't help Citi and friends one little bit. So what's the logical conclusion? Short sellers are driving down stock prices, when short selling is banned?

Australia currently has a ban on short selling. Doesn'thave helped prop that market either.

How much longer are we going to listen to the failed management of failed companies, trying desperately to find a scapegoat for their own lack of care and attention to their shareholders?

THe shareholders of GE are voting no confidence. Have been voting so for quite some time now. Now it's a Triple A grade speculation, instead of a triple A grade investment. Who's fault is that? Short sellers? Hardly...

The official iTulip position on government controls on short selling:

The short seller is a bane to politicians. He appears to drive down the value of his constituents' portfolios in crisis. In a crisis, politicians seek to limit their constituents' losses and the resulting unhappiness that may be expressed in lost votes in the future. They forget that a short seller is a buyer albeit at a lower price. The theoretical lowest price of a stock in a market without short sellers is zero. Politicians re-learn this lesson every 50 years or so.

[vanvaley1]

Re: More Gold worries

Wasn't there an interview where Laffer cut up Schiff (?) prior to 'The Mess' occurring? Then after 'The Mess' boiled over he was reminded of that interview by having it played in his presence. After which he recanted. Can't recall the program. Anybody else remember it?

Kudlow's recanting mea culpa takes the character of a quick dismissive backhand and treats his folly of adherence to the causes of 'The Mess' as inconsequential and sweeps it under the rug as he launches one of his 'free entriprise' being attacked diatribes in a manner that beckons support from his sycophants that he drags on his show every now and then.

[charliebrown]

Re: More Gold worries

One of the more interesting graphs I see is the total debt of the U.S., both public and private vs. GDP. the graph remains steady for years, then in 1980 makes a left hand turn up and doesn't turn back. During this time we had Reagan, Bush 1, Clinton, Bush 2. When I was young, (Reagan era) I told my friends i was a democrat because the two parties seem to only have one distinction, Republicans borrow money to build bombs. Democrats borrow money to give to the have nots. I guess option 2 seemed better, especially with the tensions between us and soviets.
I grew up during the missile crisis and cold war. I remember duck roll and cover and MAD. This cast a dark cloud over life.

Now I just dont know what to do. I dont like seeing good capital thrown at bad companies. I dont like to see people homeless and hungry. I see this situation as having two problems. The people wanted to drink as much debt kook-aide as they wanted, and the politicians, business people and wall street made sure the debt punch bowl was always full. Now we suffer from a collective hang over.
Do we blame the people or the leaders? Do we live in a free society were we can make as many stupid decistions as we want, or do we live in a nanny state where we are protected from ourselves?

Maybe a temporary austerity plan. Minimal food, clothing, shelter, security and medicine are propped up, but pull the rug out from everything else and see where the chips fall.

But then again who is doing the protecting? I live in Illinois which currently has the spot light on it because of political corruption. It was common knowledge that Gov Rod had 50K a plate chicken dinners. Why wasnt this stopped years ago? Who is going to pay 50K for some rubbery chicken without wanting something in return?

Maybe the only thing that saved me from financial ruin was being in high tech. Even in the go-go 90's my job was so unstable that I saved like it was the depression. You never knew when you would be out of work.
If any of you remember I worked for Marchfirst, one of the largest computer consulting companies in the 90's. (April 1 2001, Chapter 7).
I also worked for Sequent computer systems (acquired dismantled) Anderson Consulting (changed to accenture a shell of its former self)
and United Airlines (Chapter 11, 2002). I lived lean and saved.

My parents also taught me a good lesson. They leant me too much money, then made me pay it back. It sucked. I used it to buy a car that was overpriced, then had no money to do anything else while I paid the loan back to them. I sat at home on Saturday nights because I couldnt afford the gas or movie tickets, drinks or much else.

I'll stop rambling.
bye bye!