The operative words are "long before". Wasn't he shorting it in the 40s and CROX went into the 70s???
but this is a stock, look how wrong hes been on oil. he seems to think the commodities run-up is due a mass of ayn rand disbelievers joining on a amateurish speculative orgy that is due to blow up at any time, yet history shows that these runups last longer than what the silly contrarians seem to think it should
well, yeah. however, every one with a job that could have afforded that suit in 1920, similar jobs now, the same people can still afford the suit. if you make 1000.00 a year, but suits are 95 cents, if you maker 100k a year and suits are $95.00. if you make 1 million a year and suits are $950.00--- the same suit--what's the difference? devaluation of the dollar must be correlated with earnings and other currencies, false correlation comparing it with gold. its all relative wthin the closed system. surf
separate your ability to earn money from devaluation... sure, if you're increasing your earnings faster than devaluation, you can buy better stuff.. I was reffering to constant 1920 dollars being held for 88 years and then spent... they wont buy a box of rocks
right, the money going into gold are from savings not from future income, the market perception of the value of those savings going forward is what will drive gold
gold crushed our anticipated support level of 877 today. all signals go for the next stop to be around 850 on its way to <=600 by 4.1.2009 http://www.tradingmarkets.com/.site...tary/-76660.cfm bottoms up socrates, surf
Still think he's way wrong, and the wrong way to boot. Debt will have hit $10 trillion by then by Apr 09. Its the big round number problem that redefines the meaning of big. Just a matter of time.
thanks, sky. latest thougts on market/gold http://www.tradingmarkets.com/.site/eminis/commentary/guestcommentary/-76675.cfm surf
Bought today just after the Fed cut. I don't pretend to know where exactly it goes by what date, but I sure as hell gon't see it going below $850 again, anymore after today. They shouldn't have cut, IMO.