Market WrapUp (07-16-03)

Financial Sense Online ^ | 7/16/03 | Jim Puplava

[Beck_isright]

"C'mon, what is it with you doom 'n gloomers?"

Gee, I don't know. $31 trillion in debt and another bubble about to burst? I'll just keep whistling "Don't worry, be happy" and I know everything will be okey, dokey. I'm sure that's your strategy.

[Beck_isright]

Did your grandpappy invest in Blue Ridge too? Just curious....

[ambrose]

I'm sure that's your strategy.

What's your strategy? Complain? Move to some compound in Idaho? Hide cash under the matress?

[bruinbirdman]

" now with the total corruption of Greenspan"

It all started when he married that socialist. The next statement out of his mouth was something like "irrational exuberance".

yitbos

[arete]

The next statement out of his mouth was something like "irrational exuberance".

Actually, "irrational exuberance" were the last two honest words he said. Too much honesty for the politicians who were depending on the wild speculative mania and "party on" good times of Wall Street to give them political cover for their agendas. Right after that, someone had a talk with Greenspan and he was either threatened or made an offer he could't refuse. Now, all he does it create bubbles which is the exact opposite of what he should be doing. The politicians get to spend money like drunken sailors and Wall Street get to loot America's wealth. Sweet deal if you are on the inside of the system.

Richard W.

[Beck_isright]

Short. Watch. Learn. Take advantage of the 95% of bleeting lemmings.

[arete]

C'mon, what is it with you doom 'n gloomers?

Most people on this thread are in one form or another and to greater or less extent, following the Austrian School of economics. That requires and demands fiscal and monetary discipline from our rulers. The opposite is happening and there is good reason for concern that the results of the borrow and spend path to prosperity is going to reach a breaking point and leave most of the country much poorer. I believe these concerns are both warrented and justified.

Richard W.

[razorback-bert]

I am up in Santa Fake, will catch up when I get home.

Best to all.

[bruinbirdman]

"In 1952, Greenspan married Joan Mitchell, a painter. Their marriage was annulled after only a year, but it was she who introduced him to Ayn Rand, the novelist and social philosopher. Greenspan, who remained friends with Rand until her death in 1982, was greatly influenced by her philosophy of “Objectivism,” ...

Greenspan, who once dated television journalist Barbara Walters, married Andrea Mitchell, NBC’s chief foreign affairs correspondent, in 1997, after a 12-year relationship." - - Celebrity Websites.com

Women. It's always the women

[Trajan88]

Re: "So when you lose 60% of the 65%'s value and 70% of the 35%'s value, how will you set up your Roth then? Of course that assumes the government will not abolish Roth IRA's in a banking crisis when the hedge funds collapse. Read the history of the Blue Ridge Corporation and let me know how secure you feel about your Roth then...."

Sounds like a pretty grim assesment of the ways of the world... I'm not going to put my money under my matress, listen to the "experts" like M.S.'s Mary Meeker (hopefully she's anal-izing used toilett paper these days), etc.

I will change my allocation as I get up in years... for now I'm reaping the bennies of dollar-cost averaging.

Trajan88

[superloser]

Possibly. A lot of Governments take "currency redesign" time to devalue it, alas.

[Starwind]

Wanted to mention I thought this was Puplava's best wrapup I've read. I've saved a copy of it.

[arete]

Definitely one of his better ones.

Richard W.