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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (11528)	9/8/2004 10:56:20 PM
From: yard_man	Read Replies (1) \| Respond to of 116555

that means if the U.S. Treasury had seized all wages and salaries in 2003 with a 100% income tax, there still would have been a deficit! The outlook for fiscal 2004 numbers is even worse Income taxes haven't been about funding government operations for years ... one of those little modern delusions that keeps the wheels turning.

To: mishedlo who wrote (11528)	9/9/2004 9:29:55 AM
From: Tommaso	Read Replies (4) \| Respond to of 116555

Has anyone posting on this thread ever lived for some time in Argentina? I would like to know more about how people there preserve real wealth and possibly increase it. Yes, I know the first answer is "put your money into stable foreign currencies"--but I no longer believe there is such a thing: not even the Swiss Franc. And I know the next answer is "gold." And the next answer is "houses." But I would be interested in hearing any other strategies. I have not looked at the Barron's from last weekend where I udnerstand Paul Volcker is quoted as saying that the U. S. will face a major monetary crisis in the next five years, but I believe it. To me, that means maybe a partial repudiation of public debt and devaluation of the dollar to something under half of what it is now worth, perhaps even lower. I now wish I had stocked up on platinum coins five years ago and I congratulate anyone who did. Unlike gold, platinum is an extremely useful metal as well as being rare.