Quote:
Originally Posted by sammyg2
And to think I made a big ole pile O'worthless $$$$ since tabby first started warning me,
WTF was I thinking.
Bigtoe, can I borrow a match?
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I am glad you are feeling so rich, it is all the mania today...
Gold is a relative market that shows you the purchasing power of the USD. Gold is a heavily manipulated market, where CB's in particular do not want to see it go parabolic.. Yet it is showing signs of breaking out higher as a reflection of the massive increases in money and Sovereign debt.
Today Gold is $1812.00
BA says 3000
Kitco says 5000
Rickard says 50,000
5 years ago Gold was at 1094.
This time around Equities have no underpinning in economic reality.. It is all bubble, that is dependent upon the FED printing more money...the more money they print the higher Equities go...There is no place else to invest money in the system that is going to make a ROI.
We have not as of yet seen the effects of commercial and residential RE foreclosures, credit card, auto loan and student loan defaults. We have not seen the massive corporate BK's and the resulting layoffs of people. The BKing of Pension funds, Municipal and state defaults... Nor the massive displacement of people who can not make the rent anymore and the effect on landlords.
What you can count on is an INCREASE in taxation as govt becomes ever more desperate to raise revenue to cover shortfalls in revenues...In some states you might see a 32% increase in Property taxes...
The people of the Golden state in particular are going to have to pay for the privilege of living in such golden splendor..
The shyte has not hit the fan so as to be noticeable..the ocean swell is gathering momentum especially as the CV starts to close the economy again...it was WISHFUL thinking that they could reopen it so soon. They had to try though..there is no going back to the way it was..even before the CV..
Again starting on 9/17/19 when the FED had to start hitting the REPO window on a daily basis something was very wrong with the economy...Not very many people want to recognize that fact. rather choosing to live in denial.
A REAL FISCAL CONSERVATIVE would be freaked out with what is happening...but it seems that what we have today is ersatz fiscal conservatives who are good time charlies along for the ride...Remember I told ya Paul Ryan got out of Dodge while the getting was good. You are about to find out the reason why.
The only reason why I am responding to you is that you have a modicum of savvy..so I think and or hope you are salvageable.