RINO John McCain hearts the #OccupyWallStreet protesters

You are a #OccupyWallStreet protester and you are a confirmed leftist — all down with Mao and all that. Is this who you want being your spokesman?

The Occupy Wall Street movement is getting sympathy from an unlikely person: Sen. John McCain (R-Ariz.).

The 2008 GOP presidential nominee said he understands the growing protest movement’s concerns over Washington bailouts of major financial institutions.

“Down in Arizona today, Maricopa County has the highest number of homes underwater of any place in this country,” he told reporters Wednesday. “And it’s disgraceful that we took care of the financial institutions, and we did nothing about the housing crisis. So I understand their frustration.”

He later quipped that he may be the “only” Republican does.

via John McCain feels protesters’ pain – On Congress – POLITICO.com.

No John, we should have not taken care of either. We should have let the banks fail, that were failing and we should have not messed with the housing market either; as both would have corrected themselves. This proves that which I and many others like me have believed for years, that John McCain is nothing more than a two-bit big government conservative or as we call them, Republican in Name Only or RINO.

Others: Weasel Zippers, The Gateway Pundit and Michelle Malkin

Ugh: Video: Ugliness at #OccupyWallStreet protest

This comes via Dan Riehl:

This is why this video, which is in my “About this Blog” section is so important! Here is the REAL relevant part of this video:

cropped with SnipSnip

You people on Mobile devices might not be able to see the snipped video; but the rest of us can.

This my friends, is why I blog. We simply cannot allow haters to scapegoat this economic recession on a particular group of people. It is anti-freedom to do so. For this and many other reasons, is why I write.

For the record, it was not just one person either; it was many. This video is via Fox Nation:

Notice how when he realizes he is on camera; he really gets into the spiel and really begins the berate the Jewish man standing there? This is what these haters are all about; attention for their cause, which is unabashed hatred. It is one of the downsides of being a free Republic. Even the idiots have a right to their say.

Sponsored Posting: It’s All the Same Market in a Deflationary Environment

Link

It’s All the Same Market in a Deflationary Environment

September 26, 2011

By Elliott Wave International

On September 22, the Dow and S&P opened down over 2.5%. Oil was down, copper was down, and even GOLD was down sharply. Watch this video excerpt from Robert Prechter’s special video issue of the August Elliott Wave Theorist where he explains what is causing diverse markets such as these to move together in today’s environment.

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Markets are in downward spiral

Not a good day to be invested.

Related:

 

 

 

Some sound investment advice

Evaporation of Wealth on a Vast Scale
How $1-million can disappear
September 19, 2011

By Elliott Wave International

The bursting of the “debt bubble” which started in 2008 is far from over.

It’s the financial story of our age and it’s happening before our eyes. The full scope is hard to keep up with because it’s unfolding at various levels.

The top level is the sovereign debt crisis:

  • National governments: Several in Europe and even the U.S.

 

  • State and local governments: services slashed; vendors waiting to get paid.

 

  • Corporations: financial institutions at home and abroad remain in questionable health. PIMCO Chief tells Bloomberg (9/13) “We’re getting close to a full-blown banking crisis in Europe.” And CNBC reports (9/14) “Moody’s Investors Service said…it downgraded the credit ratings of Societe Generale and Credit Agricole.”

 

  • Individual Households: “under-water” mortgages; “new conservatism” toward spending.

As the credit bubble continues to deflate, the evaporation of vast wealth may follow on a historic scale. Please read this excerpt from the second edition of Conquer the Crash (pp. 94-95):

“…a lender starts with a million dollars and the borrower starts with zero. Upon extending the loan, the borrower possesses the million dollars, yet the lender feels that he still owns the million dollars that he lent out. If anyone asks the lender what he is worth, he says, ‘a million dollars,’ and shows the note to prove it. Because of this conviction, there is, in the minds of the debtor and the creditor combined, two million dollars worth of value where before there was only one. When the lender calls in the debt and the borrower pays it, he gets back his million dollars. If the borrower can’t pay it, the value of the note goes to zero. Either way, the extra value disappears…

“The dynamics of value expansion and contraction explain why a bear market can bankrupt millions of people. At the peak of a credit expansion or a bull market, assets have been valued upward, and all participants are wealthy — both the people who sold the assets and the people who hold the assets. The latter group is far larger than the former, because the total supply of money has been relatively stable while the total value of financial assets has ballooned. When the market turns down, the dynamic goes into reverse. Only a very few owners of a collapsing financial asset trade it for money at 90 percent of peak value. Some others may get out at 80 percent, 50 percent or 30 percent of peak value. In each case, sellers are simply transforming the remaining future value losses to someone else. In a bear market, the vast, vast majority does nothing and gets stuck holding assets with low or non-existent valuations. The ‘million dollars’ that a wealthy investor might have thought he had in his bond portfolio or at a stock’s peak value can quite rapidly become $50,000 or $5000 or $50. The rest of it just disappears. You see, he never really had a million dollars; all he had was IOUs or stock certificates. The idea that it had a certain financial value was in his head and the heads of others who agreed. When the point of agreement changed, so did the value. Poof! Gone in a flash of aggregated neurons. This is exactly what happens to most investment assets in a period of deflation.”

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Bob Prechter explains current stock trends

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LIVE BLOGGING THE MARKET: Post-Downgrade Market

Markets to open at 9:30, 30 minutes. I will be living blogging the event, watching the Dow.

News stories at Drudge: (some are left over from the weekend…)

CHINA: Dollar to Be ‘Discarded’ by World…
Lectures How ‘Good Old Days’ of Borrowing Have Ended…
Tel Aviv stocks fall 7% after USA debt downgrade…
Nikkei drops 2%…
Wall St braces…
US Futures tumble…
European leaders scramble to calm investors…
S&P: 1 in 3 chance USA will fall ANOTHER notch!
Moody’s threatens…
Recession without shock absorbers…
Gold soars above $1,700…
PRE-MARKETS… DEVELOPING…

 Fox Business Reports: Futures, Global Shares Sink After Downgrade:

U.S. Stock futures followed global shares sharply lower on Monday morning, extending the worst weekly rout since 2008, on the heels of Standard & Poor’s downgrade of American debt. 

Today’s Markets

As of 7:45 a.m. ET, Dow Jones Industrial Average futures slid 250 points to 11,151, S&P 500 futures tumbled 29.8 points to 1,168 and Nasdaq 100 futures dipped 54.3 points to 2,134.

For the first time in history, S&P cut America’s top-notch credit rating one notch to AA-plus from AAA after the close of trading on Friday.  The ratings company also said it may slice the ratings another notch over the next two years.  

Global markets sold off on the news on Sunday and into Monday morning. Indeed, the Japanese Nikkei 225 tumbled 2.2%, while European markets fell by more than 1% in mid-day trading there. 

S&P’s move came as a result of concerns over the country’s substantial public debt burden and deep divides within Congress that almost sparked an unprecedented default on U.S. sovereign debt.  Moody’s Investor Service, another ratings company, affirmed American’s AAA rating, while Fitch is still performing a review. 

WSJ Reports: US Stock Futures Down After S&P Downgrade; Gold Higher, Oil Slides:

Wall Street was set for a sharply lower opening Monday after the unprecedented downgrade of U.S. debt by Standard & Poor’s, while gold futures soared nearly $60 as investors sought a safe haven.

Futures on the Dow Jones Industrial Average fell 221 points to 11181. Futures on the Standard & Poor’s 500 index dropped 25 points to 1172.75 and those on the Nasdaq 100 sank 46.25 points to 2140.75.

After the close of Wall Street trading on Friday, Standard & Poor’s downgraded the U.S. government’s AAA debt rating to AA+, and assigned it a negative outlook. The agency said the U.S. political system had become less stable and the deficit-reduction deal reached by lawmakers last week was not extensive enough.

“The downgrade was expected,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “As the first-ever [U.S. debt downgrade] announcement, it was taken as a shock, but I think it was pretty much priced into the marketplace.”

“Whether or not investors continue to choose to lower the risk, I think that’s yet to be seen and I think the real basis for this huge decline has a lot to do with hedge-fund selling, which feeds on itself,” said Cardillo.

The Dow Jones Industrial Average fell 5.8% last week, its worst weekly performance since March 6, 2009, while the S&P 500 index fell 7.2% on the week, its worst since late 2008. The Nasdaq finished the week down 8%, its worst since late 2008 as well.

Markets Open: (via Seeking Alpha)

Monday, August 8, 9:31 AM At the open: Dow -1.57% to 11265. S&P -1.48% to 1182. Nasdaq -3.34% to 2448.
Treasurys: 30-year +0.73%. 10-yr +0.61%. 5-yr +0.41%.
Commodities: Crude -3.88% to $83.51. Gold +2.96% to $1700.70.
Currencies: Euro -0.89% vs. dollar. Yen +0.78%. Pound -0.34%.

AP Reports:

NEW YORK (AP) — U.S. stock futures tumbled Monday amid a rout in global stocks after Standard & Poor’s downgraded the U.S. credit rating for the first time.

S&P cut the long-term debt rating for the U.S. by one notch to AA+ from AAA late Friday. The move wasn’t unexpected, but it comes when investors are already feeling nervous about a weak U.S. economy, European debt problems and Japan’s recovery from its March earthquake.

Ahead of the opening bell, Dow Jones industrial futures fell 200 points, or 1.8 percent, to 11,202. S&P 500 futures fell 24, or 2.percent, to 1,173. Nasdaq 100 futures fell 44, or 2 percent, to 2,143.

In Europe, the German DAX index fell 2.3 percent. In Asia, Japan’s Nikkei 225 index fell 2.2 percent.

Prices for U.S. government debt, though, rose. That’s because Treasurys are still seen as one of the world’s few safe investments. The yield on the 10-year Treasury note fell to 2.5 percent from 2.57 percent late Friday. It fell as low as 2.46 percent earlier Monday. A bond’s yield drops when its price rises.

Via Seeking Alpha:

Monday, August 8, 9:39 AM China’s Dagong rating agency takes a victory lap for its Aug. 2 downgrade of U.S. debt, and adds a new warning that S&P’s cut could upset already-volatile stock and bond markets – not just today. “This is a downward trend,” Dagong’s Guan Jianzhong says, and the U.S. could face a full-scale meltdown if its debt crisis can’t be solved.

Needless to say; we’re in a new Market era. We need new political leadership and quickly.

Markets at 10:00am: (via Seeking Alpha)

Monday, August 8, 10:00 AM On the hour: Dow -1.69%. 10-yr +0.79%. Euro -0.67% vs. dollar. Crude -2.88% to $84.38. Gold +2.66% to $1695.70.

End live Blog. 

Update: Where’s the President, while this is all going on? Hiding in his Bunker. :roll:

Great: The United States is now borrowing more than the GDP

This is unreal… :roll:

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Public debt subject to the official debt limit — a slightly tighter definition — was $14.53 trillion as of the end of Tuesday, rising from the previous official cap of $14.29 trillion a day earlier.

Treasury had used extraordinary measures to hold under the $14.29 trillion cap since reaching it on May 16, while politicians battled over it and over addressing the country’s bloating deficit.

The official limit was hiked $400 billion on Tuesday and will be increased in stages over the next 18 months.

via US borrowing tops 100% of GDP: Treasury – Yahoo! News.

Chew on that one for a few seconds or longer. The USA is borrowing more money from China, that the United States makes as a whole. For the reading up on the GDP, click here. I also recommend that you read up on the Gross National Product and Gross Domestic Income. All of that above, factors into our economy; and believe me when I tell you — we are circling the drain my friends.

There is a bunch more on this subject; and for what it is worth, I do not claim to be an expert on this stuff at all — So, I recommend you read following related articles:

U.S. debt shoots up $239 billion -- in one day!
Gov't will borrow $72B next week...
Obama, Bernanke out of ammo to boost jobs, growth...
Scary Market Chart Pattern Suggests More Selling on Way...
Economy struggles to find footing...
Gold at $2,000 by year-end...

Speaking of Gold, this would be a good time to get into investing in Gold, It would also be good to stock up on  Guns and Ammo!

What I will tell you is; because I am an honest blogger and not some partisan shill for a particular party – is this here.  Many on the right wing Blogosphere will be quick to put this entire situation on President Obama.  I cannot and will not do that; the truth is folks, we did have and still do have two wars that we are fighting; and those cost money too.  We also did have the bailout of the banks and tarp bailouts, the trap loans to the big three, being a fraction of the total cost.

Truth is my friends; we are here because of foolishness of our elected leaders — Republican and Democratic Party.  Both sides have steered this Nation over a cliff.  President Obama tried and ultimately failed to bring an economic revival to the Country.  Now we have to pay the proverbial piper.  It is going to be a painful process; the tap is turned off and we are now going to have embrace austerity.

It is a horrible thing to endure, but it is something that we are going to have to endure — if we are going to continue as a Country, as we know it now.

Update: This is now a Memeorandum Thread: Others covering: Washington Times, Scared Monkeys, Conservatives4Palin, Pajamas Media, Weasel Zippers, Fausta’s Blog, Power Line and The Lonely Conservative

Confirmed: Rep. Sheila Jackson is stupid race-baiting Negro

I’m with Robbie Cooper, this chick ain’t dealing with a full deck.

Video:

The Story via The Hill:

Rep. Sheila Jackson Lee (D-Texas) on Friday strongly suggested that members of Congress are making it difficult for President Obama to raise the debt ceiling because of his race.

“I do not understand what I think is the maligning and maliciousness [toward] this president,” said Jackson Lee, a member of the Congressional Black Caucus. “Why is he different? And in my community, that is the question that we raise. In the minority community that is question that is being raised. Why is this president being treated so disrespectfully? Why has the debt limit been raised 60 times? Why did the leader of the Senate continually talk about his job is to bring the president down to make sure he is unelected?”

Earlier in her speech, Jackson Lee said Obama has been targeted unlike any other president.

“I am particularly sensitive to the fact that only this president — only this one, only this one — has received the kind of attacks and disagreement and inability to work, only this one,” said Jackson Lee from the House floor.

“Read between the lines,” she continued. “What is different about this president that should put him in a position that he should not receive the same kind of respectful treatment of when it is necessary to raise the debt limit in order to pay our bills, something required by both statute and the 14th amendment?”

Jackson Lee concluded by saying that she hoped someone would step up and say that what appears obvious to her is not in fact true.

Two things here, one, this dumb bitch must have been in coma during the Bush era.

….and Ya know; people accuse me of being a “racist.” Which as a rule, I am not. But you know; this bitch tasks my feeling that all humans should be judged by the content of their character and not by the color of their skin. I have judged this woman’s character and I have reached a conclusion.

…and here it is:

She’s a race baiting Negro. I had a video saying that; but using a politically incorrect word. But I removed it. Don’t wanna give those damned crazies any more ammo than they need. :mad:

Why I see it, you act like one; you get mocked like one. :D

Others: The Note, UrbanGrounds, The Gateway Pundit, Weasel Zippers, Vox Popoli and CNSNews

In case you thought I was kidding about buying Gold

Here we go!

Remember when I said to buy Gold?

I was not kidding.

Check this out from the U.K. Telegraph:


As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train.

On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save – Spain and Italy – though RBS thinks a €3.5 trillion rescue fund would ensure survival of Europe’s currency union.

On the other side, the recovery has sputtered out and the printing presses are being oiled again. Brinkmanship between the Congress and the White House over the US debt ceiling has compelled Moody’s to warn of a “very small but rising risk” that the world’s paramount power may default within two weeks. “The unthinkable is now thinkable,” said Ross Norman, director of thebulliondesk.com.

Fed chair Ben Bernanke confessed to Congress that growth has failed to gain traction. “Deflationary risks might re-emerge, implying a need for additional policy support,” he said.

The bar to QE3 – yet more bond purchases – is even lower than markets had thought. The new intake of hard-money men on the voting committee has not shifted Fed thinking, despite global anger at dollar debasement under QE2.

•snip•

“One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money.”

•snip•

Step by step, the world is edging towards a revived Gold Standard as it becomes clearer that Japan and the West have reached debt saturation. World Bank chief Robert Zoellick said it was time to “consider employing gold as an international reference point.” The Swiss parliament is to hold hearings on a parallel “Gold Franc”. Utah has recognised gold as legal tender for tax payments.

A new Gold Standard would probably be based on a variant of the ‘Bancor’ proposed by Keynes in the late 1940s. This was a basket of 30 commodities intended to be less deflationary than pure gold, which had compounded in the Great Depression. The idea was revived by China’s central bank chief Zhou Xiaochuan two years ago as a way of curbing the “credit-based” excess.

Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.

Indeed.

 

My friends, if this is not the time to buy gold; I really do not know what is.

Click this link to find out how to get into gold today

A Reminder: Go Gold

Just a follow up to yesterday’s posting; it would seem that this would be a good time to invest in gold, even if you cannot afford the expensive stuff, a small investment in the cheaper stuff would be smart.

As you know I am an affiliate for GoldSilver.com  and they offer some great coins and bullion for those who wish to invest in that sort of the thing.

GoldSilver.com offers

You can also check out their Silver Products Here

Want more proof? Check out this video from Russian TV:

I think it is time to invest in Gold. I mean, when the fed chairman says he does not believe that Gold is money; something is horribly wrong.

Jobs report bleak, Democrats still clueless as ever

Now I see why Rick Santelli is ranting and raving!

First of all, here is the lovely report via the NYT:

For the second month in a row, employers added a dismally small number of jobs, showing that the United States economy is barely creaking along despite being two years into the official recovery.

With all levels of government laying off workers, the Labor Department reported that employers eked out just 18,000 new nonfarm payroll jobs in June. The already low number of jobs created in May was also revised downward to just 25,000, less than half what was originally reported last month.

Even as the government’s survey of employers showed that they were adding an anemic number of jobs, a survey of households showed that more people were out of work, causing the unemployment rate to rise to 9.2 percent.

Economists were stunned since they had been expecting June to show stronger job creation as oil prices eased and supply disruptions receded in the aftermath of the Japanese tsunami and earthquake. Instead, the government’s monthly snapshot of the labor market showed that several sectors, including construction, finance and temporary services, actually shed workers. At the same time, leading indicators like wages and the length of the average workweek, which tend to grow before employers begin adding more jobs, actually contracted.

“Even the wild-eyed optimists out there have nothing to grasp onto in this report except to say, ‘Ah, this too shall pass,’ ” said Joshua Shapiro, chief United States economist at MFR Inc.

Meanwhile the stupidity continues on the left. A perfect example is found over at The Hill:

President Obama’s senior political adviser David Plouffe said Wednesday that people won’t vote in 2012 based on the unemployment rate.

Plouffe should probably hope that’s the case, since dismal job figures aren’t expected to get any better for Obama and the economy on Friday.

Most economists expect a report from the Bureau of Labor Statistics to show that the nation added about 100,000 jobs in June. That’s not enough to keep up with population growth, let alone lower the unemployment rate or make a dent in the 9 million jobs lost during the so called Great Recession.

[UPDATED: The jobs report released on Friday showed the economy added only 18,000 jobs, much less than anticipated. The unemployment rate creeped up to 9.2 percent.]

It’s looking more and more like Obama will have to do something no president has done since Franklin Roosevelt: Win reelection with unemployment around 8 percent.

I have a sinking feeling that Plouffe is making a seriously stupid miscalculation ; and one that the Republican Party is going to take full advantage of, come November 2012.

The stupidity continues over at the NYT, again with the stupidest Economist ever to be allowed to write for a paper:

Ugh. That was a seriously ugly jobs report. Almost no job creation, with slow private-sector growth offset by falling public-sector employment; a falling employment-population ratio; and (I don’t know how many people have picked this up), an actual decline in wages, albeit a small one.

Let me emphasize that last point. My bottom line on the inflation-deflation issue has always been to look at wages; you can’t have a wage-price spiral if wages ain’t spiraling. And they aren’t, to say the least.

It’s important to realize, by the way, that stagnant wages are NOT good for recovery; all they do is ensure that the burden of debt relative to income remains high, keeping demand and employment down.

The situation cries out for aggressively expansionary monetary and fiscal policy. Instead, however, all the political push is in the opposite direction.

The underlined part and the part above it; is where the stupidity really kicks in here. That stupidity above, is why this damned Nation is in the place that it is now. Because of stupid people like Krugman. These idiots, in a sane World, would be tossed out of this Country for causing one of the most horrible economic collapses in this Nation, since the great depression, which caused many Americans; Conservative and Liberal, to lose money that they rightly earned or invested in and profited from.

This is not to say that the Republican was not to blame; they too stood by and did nothing and for that they paid a price during the 2006 and 2008 election cycles. However, America was not fooled the Democrats proceeded to make some of, if not more, of the same mistakes that the Republican Party made, while in power. For this, they paid in 2010 and will pay again in 2012.

Further more, it was the DEMOCRATS, not the Republicans, who sought to game the housing market, with the Community Reinvestment act of 1973. Of which the Democrats added the sub-prime cause, which caused the Housing Market to become unstable; which essentially caused the markets to collapse. Yes, regulation was ripped out; but it was the adding of the sub-prime clause that caused the major problems that set the housing market up for a horrible downfall. I know, I watched it all happen here, in real-time, while blogging it all.

In fairness, I will say this; because I am not an overly partisan blogger. It also was the Neo-Conservatives, with their one war, that was totally unjustified in their idiotic visions of a Democratic middle east and the quagmire that it created, not to mention the millions spent and the lives lost; that also created this mess as well. If we would have fought the Afghanistan properly and not like we did Iraq; the war would have been much shorter and would have cost us much less money.

Others: The Atlantic Online, Hot Air, Washington Monthly, Firedoglake, The Huffington Post, Washington Post, The Nation, Calculated Risk, New Deal 2.0, Booman Tribune, Freakonomics, Economix, Free exchange, Speaker, AmSpecBlog, JustOneMinute, Oliver Willis, Gothamist, Hugh Hewitt’s TownHall Blog, Economist’s View, Shakesville, Lynn Sweet, ThinkProgress, Daily Kos, Truthdig, Emptywheel, AMERICAblog News, Lawyers, Guns & Money, FrumForumThe Huffington Post, The Note, The Hill, And So it Goes in Shreveport, AMERICAblog News, Hot Air, Taylor Marsh, Pajamas Media, Scared Monkeys, Outside the Beltway, NetRight Daily, The Western Experience, GOP 12, Le·gal In·sur·rec· tion, National Review, The Lonely Conservative, americanthinker.com, msnbc.com and FrumForum and more via Memeorandum

Video: This is why I like Rick Santelli

No, he is not crazy……Just slightly animated.

(via Mediate)

David Morgan and Chris Vermeulen talk about Metals Trading

I do these posts here to help with the financial situation around here, or in my case; a lack of it. As it does say, up in that top left hand corner box on here; I have no had a “real job” since 2005.  So, if you would please click on the links and sign up for the newsletters. I get a nice referral fee, if you do. This is for those who do not like or do not trust Paypal. Every little bit helps! So, if you want to help a unemployed “right of center” type of guy, who has a blog, this is the time to do it. Thanks so much!

-Pat

—-

The Audio:

 http://www.netcastdaily.com/broadcast/fsn2011-0520-1.mp3

| Open Player in New Window

More info Here

You can also see Chris Vermeulen’s last forecast, where he nailed the prediction on what Silver would do in the markets.

 

Is Gold in a bubble? Perhaps Not

Sounds like a good endorsement to me!: (H/T HotAir)

Gold is in a bubble. Anyone will tell you that. They’ve been saying it since gold was about, oh, $500 an ounce.

But it’s a funny kind of a bubble. It’s the only one I’ve encountered where so few people seem to own the asset in question.

During the dot-com bubble, you met lots of people with tech stocks. Taxi drivers told you what dot-coms they owned.

During the housing bubble you met normal, ordinary people who were trading up to expensive homes using adjustable-rate mortgages, buying new condos off plan to flip, and cashing out their fictional “equity” through a refinance mortgage.

But who actually owns gold? I keep hearing about the gold bubble, but every time I ask people if they own any themselves, they say, “no, no, of course not, it’s a bubble.”

Some bubble.

Now take a look at our chart.

It’s an updated version of one I ran nearly a year ago, when gold was $1,176 an ounce.

It compares the bull market in gold with the last two undisputed “bubbles,” namely tech stocks and housing. It shows the gold price since 2001, the Nasdaq Composite COMP (^IXIC – News) from 1989 to 2001, and Standard & Poor’s index of Homebuilding stocks from 1995 to 2007.

The picture is pretty remarkable.

If gold is a “bubble,” it doesn’t look like it’s peaked yet. Indeed it looks like it might be just about to enter its big, blow-off phase.

via gold-bubble-marketwatch: Personal Finance News from Yahoo! Finance.

Numbers and Charts do not lie.

Director Blue writes:

Gold is a quirky investment, to be sure, and I’m about the last person to advise anyone on anything when it comes to financial matters.

But one thing is certain: the administration’s policy of “Quantitative Easing” (or, as I like to call it, “Quantitative Bankrupting of America’s Future”) has unleashed the Treasury’s printing press like nothing ever seen in world history.

Trillions in cash has materialized from thin air as the Treasury Department issues IOUs and the Federal Reserve purchases them on the open market. Which, by the way, enriches Goldman Sachs (and other so-called “primary dealers”) with tens of millions of dollars in needless commissions each month.

Until the money-printing stops, until the deficit spending is brought under control, and until the dollar is rescued from the most radical administration in American history, I would hold some precious metals like gold.

It’s a hedge against governmental stupidity — and heaven knows we need it now more than ever.

I got two words; Invest Now.

As you all know, I advertise for a small compensation, if you buy something, from GoldSilver.com; here are the products that are offered:

  1. American Gold Eagles 1 oz
  2. American Gold Eagle 1/2 oz
  3. American Gold Eagle 1/4 oz
  4. American Gold Eagle 1/10 oz
  5. American Gold Buffalo
  6. Canadian Gold Maple Leaf 1 oz
  7. Gold Austrian Philharmonic
  8. Gold Austrian Philharmonic
  9. 1 oz Gold Bar
  10. Johnson Matthey Ten Ounce Gold Bar
  11. Credit Suisse 10 Oz Gold Bar
  12. 1 Kilo Johnson Matthey Gold Bar
  13. 400 oz Gold Bar

….and also, check out GoldSilver.com‘s Silver products as well. Silver is an emerging alternative to the high priced gold investments.  Either it is, as Doug ross very well put it; a hedge against Governmental stupidity and we all need protection from that. :D

Some related videos to watch:

Can the government take your savings? from Rich Dad on Vimeo.

I’ve learned more about Economics, Investing and the stock market; than I ever intended to, after the big stock market crash in 2008. It was as if the stock market, politics and Government were involved in a multi-car pile up and we bloggers were left to sift though the wreckage. It was a mess, to say the least! many people lost money and the best the political people could do was point fingers at one another. Having said all of that, I highly recommend that you check out GoldSilver.com, it is the place to buy REAL gold!

Could the DOW Could Fall 6,000 Points??!?!

Someone thinks so… (H/T GoldSilver.com)

Video:

The Story via Business Insider:

There’s a distinct possibility the U.S. stock market could plunge as much as 6,000 points if the U.S. continues to rack up record amounts of debt, causing the dollar to lose its reserve currency status, says Daily Ticker favorite Howard Davidowitz. (See video below)

“The dollar has never been at greater risk,” he tells Henry in the accompanying clip. Davidowitz is confident that if Washington doesn’t cool its spending habits, interest rates will spike and inflation will soar. Look at the value of the dollar, and the crisis is already brewing, with foreigners and sovereign nations diversifying away from dollar-denominated assets, he says.

What’s an investor to do in this scenario?

Buy hard assets, he suggests. Davidowitz says investors should own physical gold, silver and diamonds. He also thinks land is a winning bet, even suggesting young adults buy and work farmland. “I think investment in farmland with water on it is a great investment. Finance will be less important,” in the future, he says.

Sounds like a good time to buy gold to me!

Video: Las Vegas Boom & Bust – A Preview for Singapore & China?

This comes via GoldSiver.com:

Wouldn’t it be a good time to invest in Gold and Silver and beat the rush?

Free Trading Advice: Trendlines: How a Straight Line on a Chart Helps You Identify the Trend

A free 14-page Club EWI report shows you 5 ways trendlines can improve your trading decisions
By Elliott Wave International

Technical analysis of financial markets does not have to be complicated. Here are EWI, our main focus is on Elliott wave patterns in market charts, but we also employ other tools — like trendlines. Are they effective? You be the judge — once you read the free 14-page Club EWI report by EWI’s Chief Commodity Analyst Jeffrey Kennedy. Enjoy this free excerpt. Read more.

Trading Advice: What Most People Don’t Realize About The Fed’s Superpowers

Bob Prechter’s Conquer The Crash reveals whether the Fed really can rescue the US economy
January 27, 2011

By Elliott Wave International

Since its creation in 1913, the primary intended role of the U.S. Federal Reserve Bank has been that of protector. In theory, the central bank was bestowed with the power to shape monetary policy in a way that would keep both booms and busts in check. The two main tools at its disposal — interest rates and money creation — would provide a “ceiling of normalcy” above expansions AND a “net of safety” below contractions.

To this day, the financial mainstream holds great faith in the Fed’s ability to fulfill its save-the-day duties — as these recent news items make plain:

  • “Why Raising Fed Funds Rate Is Positive For Equities.” (Seeking Alpha)
  • “Fed’s Moves Lift All Asset Classes.” (Associated Press)
  • “US Stocks Erasing Losses: The aggressive moves of the Fed have been an important driver for the stabilization of stock prices.” (Bloomberg)

But of all the variables the Fed creators took into account, there’s one glaring factor they neglected to consider: Namely, it cannot force consumers to spend, creditors to lend, or businesses to borrow. The events of 2007-2009 “credit crunch” and the subsequent “Great Recession” made that obvious. Remember how the government was upset at banks for sitting on the bailout funds instead of lending them out to consumers? And consumers weren’t exactly lining up on the street to get a loan, either.

The Fed’s inability to change social mood is the central theme in Chapter 13 of EWI President Bob Prechter’s NY Times business bestseller book Conquer the Crash. There, Bob describes the Fed’s strategy of lowering the federal funds rate to stimulate spending to be as effective as “pushing on a string.” Writes Bob:

“The primary basis for today’s belief in perpetual prosperity and inflation with an occasional recession is what I call the ‘Potent Directors Fallacy.’ It is nearly impossible to find a treatise on macroeconomics today that does not assert or assume that the Federal Reserve Board has learned to control both our money and our economy. Many believe that it also possesses the immense power to manipulate the stock market. The very idea that it can do these things is false.”

And so begins one of the most groundbreaking studies into the very real INABILITY of the Fed to fell the great bears of economic declines, or to feed the great bulls of economic vigor.

The best part is, you can read Chapter 13 of Conquer the Crash in its entirety FREE via a Club EWI resource “You Can Survive And Prosper In A Deflationary Depression.” The free report also includes SEVEN other chapters of Conquer the Crash that shed equal light on some of the most misleading notions of mainstream economic wisdom.

Don’t stay in the dark. Read all 8 chapters today by joining the rapidly expanding free Club EWI community today. Here’s what you’ll learn:

  • Chapter 10: Money, Credit and the Federal Reserve Banking System
  • Chapter 13: Can the Fed Stop Deflation?
  • Chapter 23: What To Do With Your Pension Plan
  • Chapter 28: How to Identify a Safe Haven
  • Chapter 29: Calling in Loans and Paying off Debt
  • Chapter 30: What You Should Do If You Run a Business
  • Chapter 32: Should You Rely on Government to Protect You?
  • Chapter 33: A Short List of Imperative “Do’s” and Crucial “Don’ts”

Keep reading this free report now — all you need to do is create a free Club EWI profile.

Video: The Reality Report #78: The Homeland becomes the Fatherland

Please note: The posting on this video does NOT constitute support for all of the views therein. It is posted for your education and information.

—–

Synopsis: In the 78th edition of the Reality Report, Gary Franchi draws the direct parallels America shares with Hitler’s Germany and provides the solution to avoiding their terrible fate. We take a look at Ron Paul’s Texas Straight Talk where he discusses what a new found interest in the Constitution could mean for America. CEO of Euro Pacific Capital, Peter Schiff tells us why the Chinese modeled their currency after the U.S. dollar. We also hear from the former U.S. military analyst who is responsible for leaking the Pentagon Papers, Daniel Ellsberg. He explains the recent war on whistle-blowers. Chris Mathews latest hypocrisy is revealed and Angie breaks down the news. As always we take a dip into the mailbag, reveal the results from last weeks viewer poll and brand a new Enemy of the State.

The Video:

http://RTR.org | http://RealityReport.TV

RTR Group:
http://rtr.org/group/745

Facebook Page:
http://facebook.com/realityreport

Youtube channel
http://bit.ly/sub-2-rr

Share the Reality Report on Facebook:
http://on.fb.me/realityreport

Video: Ron Paul talks with John Stossel on the SOTU address

This comes via The Daily Paul:

Part 1:

Part 2:

Comments are Welcome!