Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (112974)	4/21/2008 3:37:50 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Every single person whose opinion I respect thinks that the United States is in one hell of an economic and financial mess. Can you name anyone whose views are worth considering who thinks otherwise? Volcker recently concluded his talk to the Economic Club of New York by stating flatly, "We are in a dollar crisis." Ben Bernanke is doing everything he can to ward off the Great Depression of 1929-1933, somewhat like the French building the Maginot line to ward off a German invasion. There's going to be an economic catastrophe, but it will be the destruction of the dollar and the destruction of wealth by inflation--not a deflationary contraction. We are having a replay of 1968-1974, except worse, because most U. S. debt is held outside the United States. Short financials and long commodities won't work every single week, as we just saw, but I can't see doing anything else. Some of my friends are already feeling pinched as the look at their first-quarter mutual fund reports, at gasoline pumps, and at grocery prices. There's not much I can do for them since I have a reputation as something of a chicken little. My sister and another woman have me managing their IRAs, complete discretion. They are both up about 40% in the past year. I have done better for them than for myself!