http://biz.yahoo.com/rb/040225/economy_greenspan_12.html Greenspan warned a major budget crunch looms as early as 2008 as tens of millions of Baby Boomers, born after World War II, begin to qualify for early retirement benefits. "This dramatic demographic change is certain to place enormous demands on our nation's resources -- demands we almost surely will be unable to meet unless action is taken," he said. "For a variety of reasons, that action is better taken as soon as possible." http://www.elitetrader.com/vb/showthread.php?s=&threadid=19167
So the quote for today: A new inspirational quote everyday. For Thursday February 26th:<br><font color="green">"In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects emerge only subsequently; they are not seen; ...<BR> There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. <BR>Yet this difference is tremendous; for it almost always happens that when the immediate consequence is favorable, the later consequences are disastrous, and vice versa. Whence it follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil."</font> <br>-- Frederic Bastiat - "What Is Seen and What Is Not Seen" (<a href= 'http://www.econlib.org/library/Bastiat/basEss1.html' target='_blank'>The library of Economics and Liberty</a> )
Join the club. Trading is not analysis, it is a balanced approach. Buy gold and hide away, you will be king in 2008!
Cretinus I'm a daytrader so thanks I don't need to join the club - although I carefully avoid to mix with most idiots of the club - but it doesn't mean that I don't care about more long term future ! Since you are shortsighted I would just tell you something: the fake money you are winning is just inflated papers that could not cover the cost of living after the financial catastrophe...
I have added your post in the "Memoirs of Extraordinary Popular Delusions of 21th Century for next generation" http://www.elitetrader.com/vb/showthread.php?s=&postid=438392#post438392 "The complacency of some people are extraordinary"
Also if the threat of a dictature is real then history will repeat: speculators will be designated as the vilains who have provoked this catastrophe, whereas it's just a pretext, they have just been used on purpose to create the climate necessary for a dictature to settle. Their wealth could be confiscated for example...
Hi All, Not wanting to stay behind Harry's efforts to enlighten us about 2008 catastrophies, maybe there are other things that apparently "are not seen". Ever heard about Nibiru, Planet-X and so on? Some even write that the Hubble Telescope already spotted them and that NASA (goodness gracious) is working like mad to protect us against it! This kind of stuff definitely needs to be addressed in this thread for the sake of completeness in assessing what will be in 2008. See you in 2008, nononsense
In the past it was the jews who escaped Russia Communism and were enriched by coming to Germany, then they became victims of Nazism and their wealth stolen still the jewish Gold has until today not found any resolution ... and the same men are involved today as in the past. Dictature can just be a political pretext for big Business ... of stealing the whole richness of a nation. http://www.john-loftus.com/ As a Justice Department prosecutor, John Loftus once held some of the highest security clearances in the world, with special access to NATO Cosmic, CIA codeword, and Top Secret Nuclear files. As a private attorney, he works without charge to help hundreds of intelligence agents obtain lawful permission to declassify and publish the hidden secrets of our times. He is the author of four history books, three of which have been made into films, two were international best sellers, and one was nominated for the Pulitzer Prize. John Loftus and Mark Aarons in The Secret War Against the Jews (St. Martins Press, 1994) reveal that if Kissinger's foreign policy directives had not been secretly reversed by Alexander Haig during the Nixon years, Israel would have been annihilated. Further, had Jewish underground intelligence director David Ben-Gurion not threatened Nelson Rockefeller with disclosing the Standard Oil Company partnership with I.G. Farben, the petrochemical cartel behind the Third Reich's labor camps and genocidal atrocities, the State of Israel would not have been secured in 1948. Thus threatened, Rockefeller was forced to direct critical votes at the United Nations for Israel's formation.
BTW who were the idiots a few months ago who said that Demography doesn't play a huge role in economy and so stock market ? Finally I can tell the news well before Reuters haha !
Oh boy boy.. Stop posting and ask yourself y do u need to convince others of your beliefs? Then check for local therapists.