Posted on 05/02/2005 1:02:03 AM PDT by hubbubhubbub
I'm sorry. This is complete rubbish, the economic equivalent of homeopathic medicine. You could do as well in the market by reading tea leaves or throwing darts. What complete and utter horse s**t.
-ccm
CC, you've got to read between the lines.
Obviously. this guy, the author, must be in possession of a large position in gold and silver. Likely, he is up to his quivering chin in futures. Can you think of a better way to try and hold the line on gold than to beat the dying horse so they buy more gold in anticipation of a $2,000.00 per ounce ceiling? While you're busy unloading your hoard by the basket-full into a declining market.
That's what I read. And that's why I buy shares in diversified mineral and commodity companies rather than the metal itself.
Elliott Waves? LOL. This guy is full of crap.
-oil, with the price climbing past $150 per barrel-
We are already at $50 per barrel (passing through it again, but going down) which is the break point for most alternate fuels to take oil's place and to make shale an alternative source. The problem with all economic models is they prefer to have a static universe where everything continues as it is with no changes.
The best thing for the US is for oil to go a bit higher and stand back, since there will be lots of alternates to take its place. Even nucs will make a comeback.
Just think whale oil.
You're being too kind. This tripe is far worse than that. I have studied random engineering data for the last forty years. Market prices on almost anything are as close to random as you can ever get (other than a trend line that goes up). A major rule of random data analysis is that past does not predict the future. People drawing, and then naming, these goofy lines, and then pretending they can predict the future from them are simply nuts.
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IOW, the past 200 years have been a blip heading for a correction. /sarcasm
There are a lot of seemingly intelligent people who are crazy about homeopathic medicine too. There's a 1999 Cornell study (covered in a NYT article) that looked into how incompetent people tend to ignore or distort feedback
We see a lot of this looney economics on these threads.
The last hope for the Gold Bugs is that the economy collapses so badly the government falls, we become a country of anarchic warlords, "fiat" money is worthless, and with the gold coins they have stuffed in their mattresses they're able to become a warlord themselves.
I'm sorry but you don't say exactly what is complete horses**t. Is it the author's elliott wave analysis?
And your lunatic chart showing the stock market growing a thousand-fold over the last 70 years is yet one more example.
Nice chart LOL. Notice that it's NOMINAL returns and not real (inflation adjusted) returns. Please rework for accruracy and resubmit.
It's got a line depicting the CPI.
The dollar has lost 92% of it's value since FDR took over. Not worthless yet but definitely approaching zero don't you agree?
CPI LOL. The government's statement of inflation.
Cmon, type "fiat money" you know you want to.
Wacky gold bug bump.
On the other hand, I've never personally known a gold bug that ever needed a justification.
If God didn't want humans to use fiat currency, He wouldn't have given us the zero.
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