James > the American worker has been sacrificed for the bottom line by moving manufacturing, IT technology and science positions to foreign labor overseas
Sure, but the American worker made a big mistake trusting the his bosses and the system --- and he is still making the same mistake hoping that one day, somehow, somewhere, he will be needed again. In fact, he is needed only in the army --- to die for the fantasies of the neocons.
> The question that I ask is what long term effect 6.2% unemployment will eventually have on the economy
As I state frequently, neither people nor industrial production are needed any more. The whole "economy" can be made to run on printed money (debt), manufactured statistics and media hype.
> The ballooning stock market is another bubble caused by the influx of new money and foreigners buying our debt. It will end up in another Black Friday,
It is a bubble, no doubt about that, but then most markets are. Even though you don't agree, the gold market is no different. Although the gold price has gone up by over 50% in the past two years there has been no increase in the purchases of actual gold. The whole gold bull market was constructed with smoke and mirrors.
> Copper, zinc and other metals are rising because of the huge needs of Red China.
I hope so. I own shares in mining resource companies which export to China but I think much of the rise in price of the shares is due to speculation rather than an actual increase in profits.
> Gold and Silver is undergoing technical repair for another advance to $400.00 before the end of the year.
I think you know my opinion about gold and, as far as I am concerned, excrement is more useful than silver these days especially now that digital techniques have replaced silver in virtually every facet of photography. There is such a massive over-supply of silver that it is hard to conceive how a price rise could come about although, I suppose, seeing that they did it with gold in almost similar circumstances, anything is possible.
> It also looks like we are due another arms race and maybe even a resumption of the Cold War as China has now entered the space race
Yes, it does but war today is not like it used to be. Hi-tech war is fine for the war-games enthusiasts in the Pentagon but what is more than likely is low-tech or guerilla war, like we see in Iraq and Afghanistan. Here the demand is for cannon-fodder ie men who are ready to die, and not for expensive, sophisticated equipment and ordinance. Clearly, this will not suit the military-industrial complex.
> You know what means to the fear factor and the bullishness in the stock market, I assume?
Is that Irish or Greek?! I presume it was meant to read, "I assume you know what the fear factor means to bullishness in the stock market?"
Yes, I agree. The market was always driven by fear and greed and now is no different. |
