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Politics : Welcome to Slider's Dugout
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From: SliderOnTheBlack8/20/2006 5:40:31 PM
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"SHOCKING 1980-1981 Reality Check for Gold Bugs"

Regarding Tartakower's quote of: ”The mistakes are all waiting to be made:”

It's the "same" mistakes -- over and over and over again.

Here's a wake up call for goldbugs relative to what Fed rate hikes can and will do to their hopes, dreams and fantasies:



Goldstocks followed the broad market -- DOWN

And should the poor & the working middle class of America take back their "pound of flesh" in the coming elections and should their voice that was just so loudly heard by Joe Lieberman...lead to the U.S. pulling out of Iraq...

Here's what happened to Gold & Oil stocks after the end of the last Gulf War:



Both Gold and Oil cratered after the end of the last Gulf War

The two single most important "events" that loom over the global markets in the coming 12-24 months are both under the radar screen for the vast majority commodity permabulls:

1. The U.S. Elections of 2006 & 2008...and what it means for taxes, foreign and fiscal policy.

2. China's explosion of "bad loans & debt" that are approaching 50% of China's GDP...which now dwarfs the "bubble levels" that led to "Japan Inc's" collapse.

The predictability of popular delusions and the madness of crowds never ceases to amaze me.

It is literally astounding...how soon people have forgetten the lessons learned by the Tech & Internet wreck and the collapse of Japan Inc.

Tic Toc`

Here's another great chart:



Commodity permabulls have just exited the EUPHORIA train and are now boarding the ANXIETY bus

SOTB

PS: Charts courtesty of Frank Barbera & FinancialSense.com
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