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Latest Comments17 Comments
Stock Market Cycles, Part 6: Super Cycles
As a practising numerologist I can truthfully say as far as numerology is
concerned, only years (cycles) in which global financial issues are sig-
nificant can be projected, nothing specific as to the nature of those issues.
"276" You are forgiven, it was George Santyana who made the comment about those not learning from history repeating it!
Bye the way, Benjamin Franklin ('founding farter') went so far as to
write a book titled 'The Art of Farting'. I don't know if Amazon.com still
carries it, but you can look it up if your curious enough!
EDT
Chicago, Illinois
Global Markets, Meet President Obama. Now What?
Bravo to you! I didn't vote for the two 'republicrat' party candidates either, but did vote for the independent candidate. The fact that we don't have an independent minded american public is the precise reason why your comments are so true in my view.
I watched ,for as long as I could, those fools waving flags and acting like
drunks at a new years eve celebration! Now I know why Adolph Hitler
was quoted as saying "it's such a wonderful thing for governments that
the people don't think!"
EDT
Chicago, Illinois
How Central Banks Destabilized the World's Economies
Though I feel your discourse on the underlying cause of economic problems (world wide as well as here in the United States) is a bit lengthy and perhaps difficult for the average person who really needs to understand its content, your point is well taken indeed. It is my honest opnion that the neurotic worship of Lord/Lady Kenyes' economic philosophy has a great to deal do with our present economic malaise!
The fact that you mention so many individuals (Richard Cantillon,
Benjamin Anderson, C. A. Phillips, T. F. McManus, R. W. Nelson, David
Riccardo, John Stuart Mill) some of whom lived long before Ludwig Von
Mises, one of the founders of the Austrian School of Economics, was
born, certainly must be given weight and consideration as accurate
arguments in the case for economic wealth based upon production and
saving as opposed to credit expansion unchecked!
We also had an economic crisis in 1907 as I recall in which J. P. Morgan
the banking tycoon 'rescued' the banking system with large inlays of
liquidity. This action was followed by a successful plan to bring the U.S.
back into the 'central banking fold' in l913 effectively killing the free mar-
ket system which strangely is blamed by some for the present economic
crisis!
As I've said the people (our American public) who should understand the
particulars of this economic system haven't a clue as to what all this is
about, and tragically so indeed. After all, our majority American Public
continually elect and re-elect the people that put in place the Green-
spans (once an associate of Ayn Rand a famous Austrian Economist),
Bernankes, Paulsons, and Coxs! I sat in disgust as the tally in congress
for passage of the 7Billion dollar bailout showed votes for Republicans,
votes for Democrats, and not one single vote for Independents! No
wonder Ron Paul comes off to the public as some kind of off-beat radical
with crazy ideas about economics and how the world should be! And of
course our brilliant and objective American Press and media have con-
tributed their unseemly and obnoxious influence to the mix.
Unfortunately the fate of this present world system, which could easily slip into a facist world government overnight, (The Swiss are now being and have been pressured by Germany and France into abdicating the
right to privacy of their foreign banking customers that they have extended to all Swiss bank clients for centuries) is in danger of collapse,
depending upon how far the powers that be are willing to go in order to preserve their virulent fiat currency systems (Luis T. Mcfadden U.S. House of Representatives Chairman-later member-of the Committee on banking and finance in the late 1920's was shot at twice on his way into a New York Hotel one day and poisoned in the dinning room there days after he had raged against the illegal acts of the Federal Reserve Board asking for its dissolution and calling for the impeachment of Herbert Hoover! Mr. McFadden was a Republican by the way, not a democrat!).
For those interested in the case of Representative Mcfadden's contro-
versial assertions, Google Search has excellent and accurate account
of the issues and people involved. Misses.org also has excellent
articles and tutorials on economic philosophy including Keynes.
EDT
Chicago, Illinois
Stocks Will Bottom Before the Economy
After considerable study of market history I am inclined to agree entirely
with your outlook for the present market conditions. As the commentary
in your article has indicated, contrarian action seems to hold up fairly
consistently during market cycles.
EDT
Chicago, Illinois
Gold ETFs: What Went Wrong With Conventional Wisdom?
You are probably right, Gold etfs are no doubt a day traders delight,
at least for the present, but later probably not. I don't want to bludgeon you as some other sharp investors knowledgeable about the naked short selling and behind the scenes repression of the precious metals have already done. So I'll leave you to reflect on these commentaries by yourself!
"Am I not merciful?" Emperor Commidus
EDT
Chicago, Illinois
Why Are Investors Returning to the Dollar?
I agree entirely with your investment suggestions but; "We know we have the best politicians and regulators money can buy", at first I thought you were kidding, were you? Remember it's these poiticians who had the Glass/Steagal Act repealed and whose predecessors established the central banking system in this country, laying the ground work for end- less interference in the natural market cycles and causing recessions and depressions from 1913 onward! Have you ever in your professional career read any of the works of Ludwig Von Mises? You are, I'm quite
sure, familiar with the economic idealogy of Mr. Keynes, no doubt! Or
am I doing you an injustice in some way?
EDT
Chicago, Illinois
Stocks for the Long Run?
Robert Prechter is predicting the Dow (which got headlines today in the
Chicago Sun-Times as the "Wow Dow" after Monday's Manic near 1000
point blimp) will return to the 577-1051 range according to his interpreta-
tion of the Elliot Wave theory. Of course there are arguments pro and con concerning this and other historical market cycle theories, but at least I see you were able to understand how Cramer's off-beat predic-
tions and advice are out of sequence, in fact often out of this world and south of the border mind wise!
EDT
Chicago, Illinois
Too Soon to Move From Equities to Gold
You are probably correct in your evaluation regarding the premature
gold bulllish expectations. I can see why Robert Prechter in his Elliot
Wave work has projected deflationary tendencies and a depression
for this period instead of inflationary. However, those who already
have gold are unlikely to sell it now! I'm certiainly not going to.
EDT
Chicago, Illinois
Too Soon to Move From Equities to Gold
You are probably correct in your evaluation regarding the premature
gold bulllish expectations. I can see why Robert Prechter in his Elliot
Wave work has projected deflationary tendencies and a depression
for this period instead of inflationary. However, those who already
have gold are unlikely to sell it now! I'm certiainly not going to.
EDT
Chicago, Illinois
Why The Paulson Plan Won’t Work
Let me begin by saying I agree with the substance of your presentation and explanation concerning the causes of the present economic malaise in the United States particularly the statement ".....nobody will buy our mortgages until we turn ourselves from risky Gordon Gecko into 'safe' Jimmy Stewart from it's a Wononderful World"... I've seen that film many times and was born in 1945 and have seen and experienced many things as a citizen of this country.
Let me say this, turning from the Gordon Geckos to the Jimmy Stewarts does no good if the Thomas Mitchells in their weakness drop their hard earned savings on the floor of the bank or leave them on the counter in a newspaper so that the Gordon Geckos can snatch them when no one is looking and prosper even more in their crafty conceit!
E.Tippett
Chicago, Illinois
Double Short ProShares ETFs
On august 24th you said you expected the Dollar to fall. Well, today
is 9/4/08 on week later to be exact. Had you noticed where the dollar
is? Have you noticed where the Euro is? Want to change your forecast?
EDT
Chicag
Is This the Death of Gold & Silver Stocks?
I agree with your observation and analysis of the historical market trends and the precious metals in particular. How anyone could be so ignorant concerning obvious facts and consider gold/silver and other precious metals to be part of a "Ponzi Scheme" baffles me. They need to read The Coming Currency Collapse by Jerome Smith and The Value of Honest Money by Pat Gorman. Big mouthed macho bragging about whiz kid shorting antics in the stock market impresses no one with even minimal intelligence!
Anyone smart enough to claim 'success' in shorting the market should
know of the ruthless 'naked short selling' and last minute 'carpet bombing' of precious metal stocks (particularly the juniors) that has gone one with not the least bit of SEC inforcement against these viciously illegal acts, and all done to suppress the stock price of many excellent companies! Legal action by lawyers preparing to pursue class action suits in Canada concerning these very acts is now underway!
My last word to all the 'gold bug' haters (and I've heard as much of their off-handed microscopic minded comments as I care to hear!) is a quote from George Santyana,
Those who don't learn from their history are doomed to repeat it!
EDT
Chicago, Illinois
Things You Would Never Have Said Eight Days Ago
My first impression of the SEC's head's testimony before the senate last week was that he had no concern for nor intenion of protecting any sector of the market from 'naked' short selling except his friends in the financial arena. Junior gold and other precious metal and mining stocks are being mercilessly 'carpet bombed' by ruthless short sellers, minutes before markets close each day, with impunity!
The apparent objective of these tactics is the forcing down of the
stock's price of these companies and subsequent 'panic-selling' by frightened investors unaware of these behind the scenes stealth
activities! Of course the result of these acts can threaten the stabilty of a company (particulary small caps whose capital resources are limited, but also large cap stocks one of which was affected in this way by a CNBC commentator who confessed on a Street.com interview to doing this very thing himself when he was manager of a hedge fund in which he had upwards of 25 million dollars at his disposal with which he knocked down the stock price
of several large cap companies! (See financial sense.com archives) This has been going on for years in the markets, now when suddenly the spector of short selling financial stocks occurs, on the
scene appear the three stooges of American Government (I won't
mention them by name!). These three pigeons have been chosen
to dutifully camouflage the well orchestrated rape and pillage of the average hard working investors money.
They should (all three of them) be summarily executed!
Amen.
The Precarious & Problematic Potash Pyramid at Potash Corp. (Part IV)
I understand your logic and argument concerning POT, but allow me
to say your presentation is a smidgen condescending and far too
convoluted to be understood by the average person who hasn't
the slightest idea of who the Ancient Mariner was (thanks to the
slothful american educational system among other sources of ig-
norance). Besides there are other stocks in that sector that show
promise and are much less expensive than POT.
EDT
How to Play the Dollar's Fall With ETFs
Your article was intereting but gave not specific etfs tied directly
to the US dollar particualarly for shorting. Did I miss something?
Erick Tippett
erick.tippett1@rcn.com