Posted on 11/17/2010 6:45:41 AM PST by SeekAndFind
Someone has to say it: “Doomsters, you have been wrong now for nearly two years. Why not shut up?”
On the one hand doomsters are very profitable for me because they represent the sentiment that makes stocks cheap for me to buy. However, on the other hand, I’m fed up with the bearish pollution sloshing around the media. Are these doomsters making money? If so, how?
Of course there are problems, were problems, will be problems. But the credit crunch crash is dead and we are now healing. We will be healing for more years to come.
The market will go up from here; up a long way.
Readers of my columns will note I was calling the credit crunch crash from early 2007, so I’m not a perma-bull. I can do doom, but this is not the time for it. The markets are clearly saying otherwise.
The era labelled “the credit crunch” is within months of being over. Whatever follows will be driven by a different set of factors, most likely the actions to remedy the “credit crunch” itself. Actions like QE and QE2.
QE2 is something I’ve been talking about for a long time. It’s debt monetization which, for most of us, is called “printing money”. Up until now—for all the talk—much of the bailout has been sterilised. That is to say money has been injected with one hand and removed with the other. QE2 is straight, old-fashioned inflationary money printing. That needn’t be bad.
It’s bad when there is already enough money about, but apparently in the United States there is not. Certainly in Japan there isn’t either.
“Monetizing debt” is economic heresy, as over history it has been responsible for more economic problems than anything else short of war.
(Excerpt) Read more at blogs.forbes.com ...
Dow at 14,000, cup of coffee at 25...
With enough inflation, I bet the Dow could top 140,000.
..and a billion and a pony for EVERYBODY.!
Long term unemployed hit 208 weeks in 2012!
That is bold!
Karl Denninger Sees Dow at 3,000 Next Year
For those deeply in debt(i.e. FedGov™) inflation is a God send. For everyone else, a royal screw job.
Just as long as dog food stays reasonably priced we'll be OK.
This statement is not even worthy of a response.
Self-fulfilled prophecy, huh?
...and gasoline at $8 a gallon.
I think I know how Madison and Jefferson would answer the question....
The DOW was at 11023 yesterday. It was 12398 forty five months ago when the Pelosi/Reid Cartel took control of Congress. I guess 1602 points in seven years is doable.
So, am I to understand that the US can successfully resolve its long-term debt obligations by simply printing money, purchasing our own debt and paying interest to ourselves?
If.....
The Bush tax cuts are extended for all, for more than two years, and....
Dodd-Frank and Obamacare are repealed, and.....
A tax moratorium on repatriated foreign capital is instituted, then.....
I’d be bullish too. Only then.
Yepper, right after Sarah Palin is elected.
Lot of Doomsters in Greece and Spain making money too. Obviously this guy has been buying gold.
Pray for America
Ping. Your thoughts?
If we re-elect Obama and keep printing money the dog may BECOME the food...
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