Hi Jay,
After listening to the debate between Brian Acker and John Embry that was broadcast on ROBtv today, I may have to re-think my whole approach. I was stunned to learn from Mr. Acker that:
a) deficits (trade/budget) are inconsequential, even beneficial
b) the US consumer is in fantastic shape, better than ever
c) all commodities can be substitued. Even oil.
He said:
"In the last 20 years in fighting deflation, paper got more valuable than stuff, okay? And again, what these deficits are about and what’s dropping the US dollar is about is, you know, basically we want to bring back the balance between paper and stuff because one got you know, too much value than the other. So, I’m not against that. I think gold, long term, if we’re sitting here years from now will be selling out at about $350 an ounce. Not only that, copper will do it, silver will do it because prices move up, even oil...as a productive world and productive economy we find replacements for everything and so at the end of the day, they’re commodities and we’ll...ingenuity and mental intelligence will find a substitute for all commodities.”
So, in the future, when you pull into the fueling station, you can tell the attendant, "Please fill 'er up with ingenuity and by the way could you check the mental intelligence, I might need another quart." Man, was I ever relieved! This car plant that you just visited, I hope it's tooled to build the ones that run on metaphysics. |
