Heinz on walmart, gold, and snow.
As usual, compiled by ILD
Date: Wed Nov 17 2004 14:55
trotsky (frustrated) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"How do you suppose the Europeans feel when Snow basically tells them to shove it...
that was one of the most interesting things I've
seen...
...as many times as I have posted his comments he
has been very cautious in his statements...until
that last one"
that's an interesting question, in more ways than one. when Baker did the same thing in 1987, the stock market crashed the very next trading day.
Date: Wed Nov 17 2004 14:39
trotsky (Quark) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"Fukui used to rock the markets with pronouncements like these - what happens if the financial markets stop believing these guys? ( and we know that they are in bed together... ) "
what's truly amazing is that the markets have believed them THUS FAR. i would have expected confidence to crumble a lot sooner, and in fact it hasn't quite crumbled yet. but it surely will - it is supremely naive to think that a few bureaucrats ( who admittedly wield a great deal of interventionist power ) that have a tiger by the tail can actually make a difference...they can't, at least not beyond the very short term.
Date: Wed Nov 17 2004 14:26
trotsky (goldfleeced) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
Wal-Mart is LOWERING the US standard of living?
that has to be some kind of joke, right? Walmart is probably the best thing to ever happen to US consumers...the vast array of goods it offers and the low prices clearly increase prosperity - which is defined by abundance, not scarcity.
i truly wonder in what way prosperity would be helped if everybody all of a sudden were forced to pay MORE? it seems rather obvious that this proposition makes no sense whatsover.
Bastiat already showed up the fallacies that keep being repeated in connection with Walmart for what they are some 170 years ago - but i guess economic illitaracy will never be stamped out:
click here ...
econlib.org
Date: Wed Nov 17 2004 13:13
trotsky (P. Yorkie, 6:54) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"On the other hand anyone jumping into PMs right now might stop for a moment and take a good long look at the COTS. They have big nasty teeth right now and look very hungry. They have certainly scared this little puppy off."
you do have a point about the stretched spec net long position in gold futures, but you can't rightfully claim that that has scared YOU off. i distinctly remember that you have announced your gold bearishness ( or at least lack of bullishness, and lack of sector exposure ) quite some time ago, at far lower levels. your argument was that deflation is bad for gold, which is why i remember it ( i pointed out to you that historical studies prove the opposite - namely that deflation is actually better in terms of gold's purchasing power appreciation than inflation ) .
there's little point in warning people NOW if you have warned them already weeks or months ago. if you didn't like gold at 390 or 400, why would you like it at 445?
that said, the positioning in both gold and other anti-dollar contracts IS at or near extremes, so this time the warning has at least some practical merit. however, as long as the market makes new highs for the move, the speculative position isn't a threat. it only becomes one when certain technical support levels get breached, on account of the trailing stop loss orders used by the technically oriented funds. |
