Posted on 08/02/2009 8:11:46 PM PDT by sickoflibs
If you realize both parties in Washington think our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut a few taxes and spend a few trillion and jump start the economy, and get our lost money back, this list is not for you.
You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.
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Bump for later reading
Is anyone else surprised that Ben Bernacke is worth only $850,000.00 to $1.7 million? He SHOULD have a TON more if he’s so smart!
I like your tagline.
Thanks.
what about his extended family? who are they? where do they work?
The one thing that would be worse than what we have right now would be Austrian economics. A cult that believes total economic destruction is a good thing.
Yes and it's why I am unenthused with Schiff for Senate. His role is to tell us the truth, not what we want to hear.
Last year was a perfect example. Both candidates grossly lied about what they could give us. But Obama clearly promised the most free stuff and won. The voters demand the most unbelievable lies from candidates.
Republicans claim that ‘all’ tax cuts pay for themselves and more spending like nation building. Democrats claim a few millionaires and smokers will pay for all their new spending plus doing thing ‘smart’. Now they are sending out test balloons on taxing us, shock, shock
I am guessing that you mean that Bernanke, although his job is not supposed to be political, has nonetheless an unspoken political obligation to say optimistic things about the economy. In a sense, Bernanke would have been swimming against the current if he had been less optimistic (Bush and McCain: the economy is "fundamentally sound").
In fact, one could argue that a FED chairman who is too pessimistic would do some psychological damage to both "consumer confidence" and the "morale" of business investors. However, there is obviously a downside if a FED chairman is "irrationally exuberant."
My concern with Bernanke goes beyond the question of optimism though. How much arm twisting was applied to Bank of America to "convince" it to buy Merrill, warts and all?
If this article is accurate, I did better than Schiff's clients because I moved all my mutual fund money to cash before the 2008 crash. I just didn't trust the markets anywhere in the world. It says that EuroPacificCapital took big losses in 2008, but although some of Schiff's investment strategy did not work out in that period, it's not clear to me whether Schiff's clients did worse, better, or about the same as other investors in 2008. And to get the big picture, we would have to consider 2007, 2009, etc.
Not all doomsayers are going to make money in a bad investment.
They probably meant something like "Not all doomsayers are going to make money in a bad economy."
There are plenty of doom-mongers and plenty of cheerleaders available in the market. The Fed gets caught flat footed too regularly to not be political. DC is a big club and it is near impossible to have a normal social life without entering in to conflicts of interest, let alone the natural conflicts that already exist.
The pressure to do something and to keep the party going is naturally strong. I don't know how you keep politics out of the process.
My (sickoflibs) accurate political predictions were that McCain would lose, Obama would win and the wheels would come off the Obama-hope-change train after Bush left office and democrats were seen to be in charge. I also figure the Al Frankin 60th seat came at the perfect time for us as it was falling apart. The ‘McCain wins or we all die crowd ‘ were making the claim that this could never happen and Pelosi would ram through whatever she wants (like the stimulus bill.)
I have a republican -McCain-ite neighbor who bet me that Health care would pass by labor day, although he originally predicted early August. He keeps repeating "Pelosi has the votes" as if he believes her.
Nope. Never took an econ course in my life, and don't know how to do all those bells and whistles that Cramer does.
I went to Vegas in 2005, played a hand of blackjack, and won $20. I wanted to quit but my wife talked me into playing another hand, in which I lost $20. Usually I like to quit when I am ahead.
Predicting the next bust (when) is the challenge, or a way to protect from inflation without getting caught is the challenge
If you broke even last year you did all right.
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