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So, who gets to play Lehmans in this comedic repeat…?
ISN’T GREECE marvellous?
Paying income tax, or any kind of tax it would seem, has been entirely optional. Which should have powered its economy like 1960s’ Hong Kong.
But public spending, however, accounts for 40% of GDP. So who financed that spending if so few people paid?
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What George Soros said, and what the press said he said…
“GEORGE SOROS warns gold is now the ‘ultimate bubble’,” ran the Daily Telegraph headline.
What Soros actually said was:
“When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.”
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Five stars, one Dollar exchange rate, and a 51% gain in gold…
“GOLD RETREATS as Dollar gains,” says a headline from Dow Jones Newswire.
Which makes sense. Because when that isn’t happening, “Gold adds to gains as Dollar falls versus Euro,” says Reuters.
Thus the intuitive Dollar-gold pairing swings now one way or other in the financial pages…gaining here, falling there…but always joined together as the journalist’s deadline is heard hurrying near.
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It isn’t rocket surgery. Gold appeals – and thus rises – when the better alternatives don’t…
DURING THE 1980s and ’90s…when US consumer prices rose at what would have been record rates if it hadn’t been for the ’70s…the price of gold fell by three-quarters.
Peering back at the recent past therefore, analysts and economists all agree:
When looking for a sure-fire “inflation hedge”, you surely won’t find it in gold.
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This time IS different for gold. Different from how everyone sees it, that is…
STOCK-MARKET BULLS are so dumb, apparently they need Bob Prechter to tell them to sell.
Blamed for causing a further 50-point plunge in the Dow on Tuesday – precisely the kind of news-driven move that Prechter’s Elliott Wave International says just can’t happen – he also told CNBC viewers that gold is “over owned” and over exposed.
Thanks to the “non-confirmation” in silver, in fact, after gold hit a new record high in March 2008 – only to…well…hit a series of new records throughout late 2009 – the metal is now fated to fall.
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