Posted on 11/27/2009 3:09:05 PM PST by FromLori
ping
Also good at his site today
BofA: Dubai Woes May Reach Sovereign Default and Cause Emerging Market Problems
http://www.economicpolicyjournal.com/2009/11/bofa-dubai-woes-may-reach-sovereign.html
Dubai Featured in Wall Street 2 !!!
http://www.economicpolicyjournal.com/2009/11/dubai-featured-in-wall-street-2.html
Rat Fink Seeks Billions for His Dirty Work
http://www.economicpolicyjournal.com/2009/11/rat-fink-seeks-billions-for-his-dirty.html
Does obama realize that he doesn't know what he (obama) is doing?
“Central banks are like lots of other peoplethey just follow the crowd. There are probably better commodities to buy than gold, but you can’t tell that to central banks because they’ve got gold on the brain...”
Gold is in a bubble. But the ability of bubbles to continue to grow can be astounding.
No lol
Obama realizes that Geithner doesn’t know what he’s doing
“Does obama realize that he doesn’t know what he (obama) is doing?”
A clear cut case of the blind bleeding the blind...
geithber is a tax cheat and a marxist. Firing him is fine, it just won’t matter because his replacement is certainly be another marxist.
The Congress should not allow Geithner to abscond with ANY bonuses he’s gotten as Treasury Secretary.
And he should be FORCED to pay all his 2009 Taxes before he leaves.
Absolutely and then goldman sachs should pay us back too!
Are they being smart or dumb or what?
We’re in the TULIP phase of the gold run up.
And I ain’t selling either.
My opinion they know the economy is going to crash from all the printing he who has the gold has the power.
http://www.marketoracle.co.uk/Article15355.html
It’s herd behavior. Even sophisticated investors can get caught up in it. That’s a large part of what created our current financial crisis.
Like with most bubbles there is a convincing rationale at the beginning for investing in it. There is a convincing case to be made for a coming massive inflation, and not just in regard to dollars. In all currencies.
But often when something becomes a sure bet it’s time to make sure that you know where the exits are. That doesn’t mean it’s time to leave yet. Markets can be irrational far longer than you can stay solvent if you bet against them.
Yes like summers another disaster.
Yup.
They have to cover so much bad debt with bad paper, this could go on either until the whole damn thing collapses or the revolution begins.
Either way, gonna be a very bumpy ride.
Some bubbles aren’t that hard to spot. Timing them is another matter. Using traditional valuations I suspected that SoCal real estate was in a bubble in 2003. By 2005 I knew that prices here were unsustainable, the incomes of borrowers weren’t sufficient to handle the loans that they were taking out. But the top wasn’t in for another year or two.
With gold there isn’t the sort of outside metric like those which you can apply to real estate investing. Calling a bubble in gold is more subjective. What is driving gold is a lack of confidence in currencies, greater wealth in China and India, near-zero interest rates, a dollar carry trade, and a self-reinforcing belief that gold is going to go up. Breaking one of these trends probably won’t pop gold’s bubble. But if a couple of them reverse then I think we will see a dramatic decline in gold.
This is not rocket science.
When the stock market crashes, the people who bought physical gold and gold stocks as a hedge will cash them in to cover their loses. Gold is going down short term - soon. *
We’ve been through this before. When gold falls, and it will, buy in at $950. I’m looking at buying around mid-January.
* (The above advice is the ravings of a lunatic. Do not believe anything he says. So do your own damn due diligence and may you not jump out a window taller than 4 feet off the ground.)
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