Templeton feeling bearish -- Economic Commentary

HeraldTribune.com ^ | 10/16/03 | MICHAEL BRAGA

[RiflemanSharpe]

This if true is going to hurt this country for years.

[Keith]

He's been retired for years...sold his firm years ago, but his advice is still sought on matters financial. He is one of my heroes and I find this very disturbing.

[RightWingNut]

I agree with you.

Besides, Sir John may be 92, but I would be willing to bet he is weathier then all of us combined !!

He also made a quick 30%+ profit buying airline stocks after 9/11, so when he speaks I still listen. I LISTEN VERY CLOSELY !!!!!

He was also born in Tennessee, and all of us hillbillies have to stick together !! LOL

[Beck_isright]

You'll be fine. Sell into every rally. The stock are rising on the cheap credit and cash and will continue to do so through the election. After that all bets are off.

[webstersII]

"So he doesn't do any research, he just makes predictions?"

He does what he loves to do. That's why he is still researching and predicting.

That's the difference between what he does and a J-O-B.

[Hop A Long Cassidy]

lOldPro, you must not know who Templeton is, thus you don't know how ill-informed this comment sounds.

Most likely, Templeton will not truly retire as long as he is mentally fit. This should be true for all of us.

Most of Templeton's time is spent giving away millions made from investing globally and selling his mutual funds.

He gives away his millions to sponsor many worthy causes. If you are at all curious, here's a link to a short biography and a list of some of his worthy causes:

http://www.templeton.org/sir_john_templeton/index.asp

He has an interesting story and background. I hope you take the time to research it.

Hoppy

[TrueBeliever9]

I was thinking what a genius this man is and just managing his own holdings is more than a full-time job. LOL

[q_an_a]

"The reason Templeton recommends Canadian, New Zealand, and Australian bonds is that these countries are major exporters of agricultural commodities. During periods of inflation, prices of agricultural commodities often rise, Moore said."

Using this logic america must have to stop shipping our food because our ag exports must be, what, twice as much as the countries mentioned. can anyone tell us how much free wheat those commonwealth countries shipped last year? This story is a crock.

the reason people invest in america is that despite a hundred stories like this we keep growing. the stock marekt will pass 10,000 and we will start trading in our old dells for new ones. we are 25% of the world market and they want in.

we export more ideas of freedom every month that the countries listed. this is a hit piece for fish wrap.

[arete]

This if true is going to hurt this country for years.

The monetary and fiscal authorities have been reduced to what could be called financial cannibalism. Increased borrow and spending and punishing savers and debasing the currency all to make the economy look good and the recovery illusion alive week by week. Most of it is instigated by the political pressures of having good approval ratings and the upcoming elections in '04. I doubt that there is even a 50/50 chance they can succeed for another 12 mths. The big problem is that the massive interventions and manipulations will leave the economy much much weaker when all the bubble burst. It is not just going to end badly, it is going to end very very badly for the average citizen. The politicians will scapegoat and dodge responsibility as usual.

Richard W.

[arete]

Using this logic america must have to stop shipping our food because our ag exports must be, what, twice as much as the countries mentioned. can anyone tell us how much free wheat those commonwealth countries shipped last year? This story is a crock.

You are hopelessly clueless.

Richard W.

[AdamSelene235]

Anyone with a pre-tax income of $57,500 who gets a $200,000 mortgage is foolish, IMO. The bank who gives it to him is just as bad.

That's nothing. I've been hearding local radio ads for a lender that promises 100% financing on real estate THE DAY AFTER A BANKRUPTCY.

I'm beginning to think my bunker isn't deep enough.

[Orangedog]

That's nothing. I've been hearding local radio ads for a lender that promises 100% financing on real estate THE DAY AFTER A BANKRUPTCY.

Not to mention the interest-only mortgages that are being written now as well. These things were thought to have become extinct in the 1920's, but now they are fruitful and multiplying.

Dig that bunker deeper...a lot deeper. I'm thinking Cheyenne Mountain deep.

[RichardW]

If this pans out then Bush will not be reelected.

[arete]

If this pans out then Bush will not be reelected.

Depends on if a large scapegoating event comes along that will enable the fiscal and monetary officials to escape blame. If the FED knows that things are out of control, you can expect them to force an external bench clearing blow-up. Perhaps a GSE cracks or the derivative market blows. Maybe China will be blamed. They are a good candidate for the blame game.

Richard W.

[John Beresford Tipton]

He is retired and lives the good life at Lyford Cay.

[JNB]

The harsh reality is the rather narrow concept of American "freedom" does not, and will not work with every society and culture. Exproting "freedom" doe snot help the average Joes who work longer hours for even less dispoable income. As for Sir Tempelton, his experience and expertise have far more weight than the entire WSJ and CNBC on staff "experts" combined.

[Sam Cree]

The USA is pretty far down the road to socialism, IMO.

[hripka]

Great answer Richard.

[arete]

National Socialism?

Richard W.

[Sam Cree]

I don't know which kind.
I must be pretty slow on the uptake, I've just come to this epiphane (that we are living in a socialist state) the last week or so.

I think I heard you guys recently mention that Warren Buffet is on somewhat the same page as Templeton regarding bearishness?

I notice that Phillip Fisher's son, Ken, is not, but don't know that much about the guy.