daily reckonning

Discussion in 'Economics' started by Adobian, Jan 19, 2008.

  1. Adobian


  2. Adobian


  3. I'm sympathetic with a lot of what they say, but...

    They're permabears, and many have been saying the same thing for decades. If you listened to them in the 80s/90s ("buy gold!" "Out of stocks...a crash is coming!"), you would've lost your shirt and missed the best stock run in history.

    They looked brilliant in 2000-2002 and for the last 6 months or so. They'll probably look brilliant for a while longer, then the permabulls will have their turn again.

  4. Adobian


    It's 200-2002 that wiped out a lot of bulls. It's like right now, a lot of people got wiped out by foreclosures. By the time the perma Bulls have their way again, noone else has any capital left to invest.
  5. But the permabears who followed their own advice in the 80s and 90s are still worse off, overall. Except maybe the ones who sell newsletters and gold coins...

    I don't agree with either crowd, but in the long, long-run, I'd have to go with the permabulls.