Posted on 09/01/2015 8:58:35 AM PDT by citizen
lol --and you sound so pleased! Actually, at 15 min. before closing it's down more than 496--
--back to where it was a week ago. Funny how all the pundits are saying that the current level is proof of a severe down turn proving that stocks are a bad investment, but a couple years ago this same level was way overpriced at an all time high and that too was proof that stocks were a bad investment. Now maybe what they mean is that stocks have gone nowhere for a couple years but that would ignore the 3%/year dividends (a bit better than savings accts or T-bills).
Sounds bogus given that over the past four years gold has lost 36% of its purchasing (ok, trading) power while the dollar's only lost 5%. Nevertheless how come if a gov't declares the dollar's pegged on the cpi then it's "fiat", but if the gov't says it's pegged on gold it's not "fiat"?
Ah, and why not silver? Oil?
The larger point (and fear) is that the central managing banks are now pretty much powerless to further artificially goose the various competing economies, imho. Like I've said before, I want them to succeed for a couple of more decades just for my selfish needs to finish out my life in the relative comfort I feel I've earned by getting up b4 6AM weekdays during my work-a-day career.
There's some feeling that Yellin feels she must raise rates soon to save face! Imagine that, like that's a valid reason - NOT! It's years too late now, Janet.
I have known that the dollar would eventually be worth paper since I was twelve years old—in 1965—when the murderer of JFK took the silver out of the coins. He promised that silver coins and the new slugs would circulate side-by-side forever. Hahahahahahah!
If you want to know whether your government is a government of murderers, liars, and thieves, just look at your money. If it’s fiat money, then you have a government of murderers, liars, and thieves.
I read AS years ago but don’t remember the individual events occurring on Sept 2.
I reckon that’s as good a day as any for whatever will happen to happen. Tomorrow has a pretty good (read: dismal) lead-in from the global economic metrics posted today.
May it ever remain so. I feel our military rank and file won't falter, they will do their jobs. It's the upper echelon brass and the politicians I don't trust.
It's not that hard to get that impression because for the life of me I can't see any other reason she should. My taxes are paying her to do congress' bidding w/ reagard to their obligation to "coin money and regulate the value thereof". Yeah, many like to believe somehow the fed has power over jobs, productions, and the trade deficit but we all know it's a crock. The fed's good at controlling inflation and needs to stay clear of other folks' business.
Marc Faber: We Have Reached Some Kind of Tipping Point
http://www.foxbusiness.com/business-leaders/2015/09/01/marc-faber-have-reached-some-kind-tipping-point/?intcmp=bigtopmarketfeatures
Faber is in glass-half-empty mode, if not worse.
I sympathize with the Fed not wanting to have their efforts seem so futile but in and of itself that's no reason to raise rates. Another point being made is "Well, the Fed needs to raise rates now so they have room to cut later when the economy needs a boost." But that's simply more evidence of their inability to steer the economy for the better.
For my part I doubt a 25 or 50 basis point increase will net me much in the way of additional income on my savings. So I get it in the shorts both ways: My savings generate next to nothing and my 401k sinks right along with the world financial markets.
I should have added that Faber is a perennial bear so take his gloomy predictions with a grain of salt. I reckon we all know that but it needs to be said nonetheless.
“when the murderer of JFK took the silver out of the coins”
Good grief. ‘Murder’ had nothing to do with demonetizing American coins. That was the result of the Triffin Dilemma which had been going on since Eisenhower’s Presidency.
Lachesism
Can you read English?
Where did I say that the fact that LBJ murdered JFK had anything to do with LBJ’s taking the silver out of the coins?
“the fact that LBJ murdered JFK”
That bit of lunacy must have distracted me.
If you respond with any variation of "conspiracy theory," then I'll know you are a willing sheeple.
Bobby Kennedy had already fed TIME and LIFE cover stories on LBJ's corruption. LBJ was off the 1964 ticket, and was going to prison. LBJ got down on the floor of his car before the first shot was fired in Dealey Plaza. Photographs prove it. Kennedy was going to propose the repeal of the Oil Depletion Allowance, so LBJ had willing, powerful accomplices in Texas.
I’m always entertained by hearing goofball theories about Kennedy’s assassination and one thing I always like to get is an explanation for why Oswald killed Officer Tippit an hour after Kennedy was shot. That killing was done right on a busy street in front of a dozen witnesses so it’s never been in dispute, it just gets ignored by the crazier explanations. So let’s hear how it fits in with the LBJ Did It theory.
There is no contradiction between Oswald’s being involved, and considering himself threatened by Tippit, and LBJ’s being involved.
So you accept that Oswald shot Kennedy?
No.
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