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The markets have been getting the cr*p beat out of them the last couple of weeks. My question is:
Where have all the folks who crowed about dumping the dollar and buying gold all gone?
What about those who harped that no one was buying US treasury bonds and that the bond rate was skyrocketing in response?
What about those who screamed that inflation was going make the dollar worthless and that oil prices were shooting through the roof?
Can it be that the price of gold (and other precious metals) has plummitted?
Can it that the dollar has risen against the Euro?
Can it be that the government is having no problems selling bonds at well below 4%?
Can it be that inflation is still not an issue and that oil prices are falling?
Any of you folks who harped about all that stuff care to explain?
Well let me add this tidbit into the mix. Apparently Peter Schiff - of of the so-called experts the Doom and Gloom crowd are constantly quoting - apparently did pretty darned poorly last year with his own company and was down 40-70%.
"12 Ways Schiff Was Wrong in 2008
Wrong about hyperinflation
Wrong about the dollar
Wrong about commodities except for gold
Wrong about foreign currencies except for the Yen
Wrong about foreign equities
Wrong in timing
Wrong in risk management
Wrong in buy and hold thesis
Wrong on decoupling
Wrong on China
Wrong on US treasuries
Wrong on interest rates, both foreign and domestic "
Well, I didn't make any of the claims that you mentioned, but I personally would be a little hesitant to wave the victory flag just yet. The last time I checked, the world is still in a deep recession and anything seems to be possible at this point.
Perhaps it's because no one quite understands this recession? Our government just declared quite loudly that it had "misread" it, didn't they?
Well, I didn't make any of the claims that you mentioned, but I personally would be a little hesitant to wave the victory flag just yet. The last time I checked, the world is still in a deep recession and anything seems to be possible at this point.
I'm not claiming victory. Clearly this is a tough tough recession to dig our way out of. I DO think the stock market will turn around - and probably bring higher prices and high bond rates with it (and probably a declining dollar) - since those things ARE tied to a recoverying economy. I'm of the opinion that despite the increase in unemployment claims from last month, next mont will see a return to the gradual decrease in claims and a bit better news on the overall economy.
Of course, only time will tell for sure.
Thanks for replying.
I WOULD like to hear from the various folks out there (you know who you are) who made all those claims about the declining dollar and soaring gold and oil prices.
Soon enough Obama will be giving money to everyone at the street corner. Not literally, but the amount of "free" money will overwhelm the lost credit and inflation will soon take hold.
Treasuries are extremely volatile and only an idiot would buy them up. My foreign stocks are doing outstanding.
Soon enough Obama will be giving money to everyone at the street corner. Not literally, but the amount of "free" money will overwhelm the lost credit and inflation will soon take hold.
Treasuries are extremely volatile and only an idiot would buy them up. My foreign stocks are doing outstanding.
US stocks have done pretty well too - until just recently anyway (and still up pretty darned well from their lows).
So which international markets are you in that are doing so well (and are they STILL going up - or are you referring to earlier gains)? Looks to me like China is the only one holding up at the moment (at least at a quick glance).
US stocks have done pretty well too - until just recently anyway (and still up pretty darned well from their lows).
So which international markets are you in that are doing so well (and are they STILL going up - or are you referring to earlier gains)? Looks to me like China is the only one holding up at the moment (at least at a quick glance).
Ken
Some New Zealand stuff, mostly held up by the strengthening NZ dollar, yes lots of Chinese stocks. Over the past 2 days there was a tiny pullback, but nothing at all like Americans are experiencing. Also, gold is all over the place and it's not an investment -- it's money.
Some New Zealand stuff, mostly held up by the strengthening NZ dollar, yes lots of Chinese stocks. Over the past 2 days there was a tiny pullback, but nothing at all like Americans are experiencing. Also, gold is all over the place and it's not an investment -- it's money.
Yeah, I see the NZD has been doing pretty well since March. I used to watch the NZD vs USD echange rate pretty closely because I took a couple of trips to the beautiful Cook Islands. First trip it was .45 of a USD. Second it had crept up to .65 of a USD. Not too different from that now from the look of things.
The markets have been getting the cr*p beat out of them the last couple of weeks. My question is:
Where have all the folks who crowed about dumping the dollar and buying gold all gone?
What about those who harped that no one was buying US treasury bonds and that the bond rate was skyrocketing in response?
What about those who screamed that inflation was going make the dollar worthless and that oil prices were shooting through the roof?
Can it be that the price of gold (and other precious metals) has plummitted?
Can it that the dollar has risen against the Euro?
Can it be that the government is having no problems selling bonds at well below 4%?
Can it be that inflation is still not an issue and that oil prices are falling?
Any of you folks who harped about all that stuff care to explain?
Ken
no the dollar has not risen against the euro.
Between March - June 2009, the dollar's value has fallen 11% against the euro. i suppose that globalists would like to see the dollar drop, but i am betting that the average american does not want to see the dollar drop.
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