Wasn't GS calling for $200 Oil just a few short months ago? We all now what an EPIC Failure that call was! Now this? Fade the ASSHATS! Goldman Sachs = EPIC FAILURE! Goldman Slashes U.S. Growth Forecasts, Says Recession Deepens By Dave Liedtka Nov. 21 (Bloomberg) -- Goldman Sachs Group Inc. increased its recession estimates, saying gross domestic product is declining at a 5 percent annual rate in the current quarter and will drop 3 percent and 1 percent in the next two quarters. Unemployment will reach 9 percent by the fourth quarter of 2009, Goldman economists led by Jan Hatzius wrote in a research note today.
As long as we have lines of people calling for a bottom and average investors eager to try amatuer knife catching, we won't go up much at all, and probably a great deal lower. There's even a trading show on my local AM station, for crying out loud. Not investing, but trading. We haven't even begun to capitulate yet. Christ, C is climbing based on rumors of the board talking about selling parts of it and a Saudi prince buying a 6% stake (Saudi princes being well noted for the business accum). There's an amazing amount of hope and greed still left.
I'm still waiting for Gold to decouple from this crap and shoot higher. It seems that people have been preoccupied with other things, so much so that they forget they need(supposed) to buy gold. Also prostitution always does well. Pick up some Emperor's Club talent on the cheap?
Ummm, wow on the Gold move. I didn't expect it today. Everyone should be piling in now. (yes, I'm buying today.)
There were only 3 times since 1800 where one would buy gold, the last being 1998-2001. Take the price of gold, adjust it for inflation, and start buying when it falls at least 1 standard deviation below the $1 line. The other times where the late 60's and the 20's. And if ya own the physical stuff ya don't talk about it if its not buried. Its good to have neighbors who if they suddenly see loads of dirt mysteriously show up in your backyard with a trail that leads to the basement and the cops or building inspector doesn't show up.