Posted on 05/18/2010 7:05:51 AM PDT by blam
Dow Theorist: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
Joe Weisenthal
May. 18, 2010, 8:57 AM
Image: US Army
WHOA!
Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today's note:
Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country. They'll retort, "How the dickens does Russell know -- who told him?" Tell them the stock market told him.
That's pretty intense!
Update: By popular demand, here's more on what he sees in the market:
And I ask myself, "Am I seeing things? The April 26 high for the Dow was 11205.03. The Dow is selling as write at 10557 down 648 points from its April high. If business is even better than expected, then why is the Dow down over 600 points? And why, if there were 674 new highs on the NYSE on April 26, were there only 20 new highs on Friday, May 14? And if my PTI was 6133 on April 26, why is it down 17 points since its April high?
The fact is that I've been seeing deterioration in the stock market ever since early-April, and this in the face of improving business news. The D-J Industrial Average is composed of 30 internationally known top-quality blue-chip stocks. These are 30 of "America's biggest companies." If Barron's is so bullish on the future of America's
[snip]
The DJIA is up 62 as I post. See here.
(Excerpt) Read more at businessinsider.com ...
Something on the internet.....word to the wise.....
“I’ve been mulling this over, and I’ve decided not to talk even obliquely any more about PMs on the internet. I’ve concluded that EVERYTHING is ultimately “searchable,” and talking about PMs on the internet may turn out to be like painting a sign on the house, “GLD AND SLVER INSIDE! ROB ME!” It doesn’t take a world-class hacker to find where you live anymore. Anybody can do it. See where you live in two clicks on “whitepages.com.”
“From computer chat to home address is as easy as 1-2-3. Now it turns out that every single internet user has a unique “computer DNA” based on his surfing habits. The feds can look at a sample subject’s week of internet travels (not knowing who they are or what computer was used), and determine the subject’s ID based solely on comparing those visits to millions and millions of previous internet histories sampled from the ether and stored. I didn’t say that well but you know what I mean. There is zero privacy or security on the internet, including email.
“It’s going to be rough enough when the USA “goes Argentina” without guarding against “internet miners” who have been searching for “loose lip tips” about who might have this or that at home. (Guns, PMs, cash, whatever.) Not even Rambo can guard a house or even a ranch 24/7 by 360*. Look at Mexico etc to see how even wealthy VIPs with security are kidnapped and home/ranch invaded all the time. A Mexican Senator was just kidnapped, for example. And every comment ever made on any forum or probably even on email is going to turn out to be “searchable” at some point in the future.
“I’m going to throttle way back on the PM discussion, and make only very general comments. (Even to not spelling gld or sliver correctly on email, to make internet mining a little harder.) I really regret dumb comments I made like, “I bought my gld at 500 dollars per oz.” Many folks would kill us for just ONE ounce of that stuff. Even if they just thought it was 50-50 that we had even one damn coin.
“Just a word to the wise...
“PS: the SOP for finding hidden valuables in Mexico, Argentina etc is to torture your wife or children in front of you while you’re wired to a chair. Even if they’re not sure you have hidden valuables, home invaders run a bluff and do this anyway, just in case you do. Couple that with internet mining for rich targets, and it’s an ugly picture and sure to get much uglier.
Better the death of Masada than the death of Dachau.
True that...
- The Night the Bed Fell by James Thurber
He means ‘readily liquidatable’, or relatively liquid.
If you live near a retirement community, you can sometimes find guns in estate sales and yard sales, especially if the husband has passed away and his widow is selling them.
This is an ‘inside’ battle. You will not be able to retreat to some compound, some hidey hole, some rural outpost and survive. We must fight close up and personal. Inside.
Our society will not devolve into the chaos imagined. Look to the lesson of Katrina. New Orleans was only one part, and the stories of chaos there during the event were wildly overblown. What happened in Mississippi, in Alabama, in Texas? Those are the examples of social order most Americans will uphold even if our currency collapses.
There are historical precedents.
Thank you for the explanation.
I guess by "Inside" you are referring to "inside ourselves" and "inside the walls"?
First to adjust our way of thinking to adapt to reality, and to plan on doing whatever we can where we are and not running away and hiding in isolation?
...Miracles do not cluster. That which has happened but once in six thousand years cannot be expected to happen often. Such a government, once gone, might leave a void, to be filled, for ages, with revolution and tumult, riot and despotism.
I can't get a usable URL to get directly to it, but if you go to books.google.com and search on "Illustrated Fryeburg Webster Memorial" it'll get you a scanned image version of the book (apparently published in 1882).
I have found it best to go to the scholars who study particular founding fathers and notables for quote attribution. I almost put that bogus Cicero quote into the front of my last book. “Brainyquotes” etc are useless since they verify nothing. Even some alleged old books used as attribution have turne out to be bogus.
Turning on the Light, Horatio King, 1895.
Up...
The Fryeburg book claims to have the original handwritten manuscript of the speech from Webster’s papers.
And maybe it was. I’m just a lot more doubtful now about anything attributed on the internet.
Like that “famous Scotsman’s” quote about the stages of a republic from freedom to slavery. TOTALLY bogus, and it’s given all kinds of reputable-sounding but false attribution.
Is that entire cite from Peikoff’s book, or just the last paragraph?
Well, it was worth a try...
You mean like warnings of global warming? I have learned a new method of preparation form my former employer, the government. It is called crash management. Wait and see then react.
The democrap party has been planning it for a long time. More than a decade ago, I was disturbed to watch as Dick Gephardt told an interviewer on a public TV network that t hey had plans to develop a government sponsored ‘privitization of social security’. When pressed to describe how individuals might invest the deferred monies not sent to SS as FICA, Gephardt blandly stated that it was too risky for individuals to control the investing, that there should be a government program to make the investments! These demonic, wicked bastards think differently from sane people!
First to adjust our way of thinking to adapt to reality, and to plan on doing whatever we can where we are and not running away and hiding in isolation? Yes! Yes to both. The battle is so close, closer than the division within some families during the War between the States. Nearly all families are split, nearly all workplaces, nearly all associations.
It is first a battle of PERSONAL resolve.
It is second a great war "within the walls".
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