It will take a few years for Americans to adjust.
This is where we disagree - do you think the crack addict perhaps if given enough suffering will stop wanting crack in time? I think habits learned as children and teenagers and early adulthood may NEVER correct - no matter the time given in adulthood. It will take a whole new generation of people living and growing up under different circumstances for the socialization to reverse. There is an old saying - science progresses one funeral at a time - I don't see why that doesn't apply to princess and her "shopping machine" ways. I think the great failure in America is that people feel they no longer have to pursue education and knowledge but rather fun and entertainment. The amount of education that is available from the internet, libraries, tech schools, etc etc is massive - yet large amounts of people choose to watch fear factor and instant messenger each other about brad pitt's new baby.
Bette Midler on a tour of Europe in 1980 insisted in her contract that she be paid in gold not dollars.
HAHA like I keep telling General Chen - the time to buy gold was at the early 2000 lows - but I can show you many superior investments to yellow metal in the past 2 years:
Best Sectors
From the computer algorithm - taking its trades for the past 2 years - where is the inflation and deflation? 100K to:
1,131K
americanbulls.com
887K
americanbulls.com
763K
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732K
americanbulls.com
664K
americanbulls.com
657K
americanbulls.com
507K
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454K
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450K
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399K
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383K
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356K
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349K
americanbulls.com
337K
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5% cd's and precious metals aren't even in the top 10 eh?
keep picking away with your hammer john henry - asimov predicted you being obsolete decades ago. hehe Spock once said that having may not be as pleasing as wanting - it is not logical - but often true.
"In January of 1980, nobody trusted anybody in government to man the controls. Gold hit $850 an ounce. After a decade of dumb ideas from our political leaders
The problem is - short of killing about 200K - 500K dilbert finance guys across the globe - nothing is really going to change - for they will still believe what they believe now no matter what - and just like with scientists and princess - financial engineering will progress one dilbert finance manager funeral at a time.
(including Nixon's price controls),
Grants interest rate monitor guy on Bloomberg TV today made very compelling arguements why our dollar is doomed and why PRICE CONTROLS don't work and why the fed will debase our dollars:
Goog has a lot to say about the failure of price controls too - notice most recently hawaii gas prices
google.com
we were stuck with drastic inflation, high unemployment, and no signs of economic growth...
Sounds like modern day zimbabwe:
allafrica.com
By the way you have a strongly US centric view, India followed by China are the number two and number three consumers of gold currently. Do you think they will get richer or poorer in coming years relative to the US?
Not because they hoard gold - they won't get richer because of that sillyness - Remember those aztec guys 500 years ago - the had a huge STORE of gold in thier nation - but the spaniards had bullets, and warships, and cavalry and damascus steel and armor eh? Same for China and India - they will get WEALTHY not by hoarding shiny metal digging holes in thier backyards like Chen - but rather by getting educated, advancing the knowledge and literacy of thier peoples, making medical/scientific breakthroughs - stregthening their war machine to take from weaker competitors in a resource scarce universe - etc etc.
(Also recognize that gold purchases in China currently are not as liquid as they are in the US..)
As Mosler says time and time again - it is irrelevant - he made some comment about bowling alleys keeping extra score in the backroom so in a time of need they could unload it onto the bowlers - I don't understand the analogy but maybe you can:
http://www.mosler.org/wwwboard/messages/3524.shtml
And I think all bowling alleys should keep 300,000 points in a reserve fund to make sure they have enough score for everyone at all times.
:)
: Research paper by Laurence J. Kotlikoff of the St. Louis Fed purports that while the U.S. is not yet bankrupt, it is getting there.
Mogambo said in his most recent article that richebacher claims gold is not valuable in and of itself - but that it keeps the financial dilbert managers from extending too much credit that won't be paid back - this could be done with nautilus shells. The shiny metal is not necessary - but you are like a spaniard coming to kill the aztec - and even though he has all the gold - you think taking it will make you WEALTHIER all the while seeing that he - the aztec with all the gold is about to die under your sword - crazy thinking.
No the times won't be changing if Oprah makes that announcement, that will mean the times have already changed.
HAHA - probably - she has been slow to the debt cleansing game!
"Capitalism is the astounding belief that the most wicked of men will do the most wicked of things for the greatest good of everyone."
-John Maynard Keynes |
