Tony Daltorio

Extraordinary Popular Delusions and the Madness of Crowds

But you are ignoring that when those bubbles collapsed, the monetary system was based on gold. Not based on a fiat currency like the dollar. Never in history, has a fiat currency gone up in value (deflation) over a long period of time. This time will be no exception.


On Oct 14 02:49 PM Jasper M wrote:

> While Mackay's book is indeed a timely title to conjure with, I would
> remind the author that the collapse of every one of the manias he
> lists was DEflationary - mass removal of credit, and therefor money
> supply, from the system, by market forces, usually in Spite of the
> wishes of those claiming to manage such things.

Emerging Economies: The Good, The Bad and The Ugly

Basically you have two choices as where to invest:

You can invest in the emerging markets that do have geo-political risk, but have large populations of hard-working people eager to move up the economic scale, fast economic growth, little debt and a high savings rate.

Or you can invest in the US which is controlled by an elite, with little hope for economic growth, the largest debts in history, and a population with no savings and the attitude of not working hard - getting something for nothing.

Sure I have some investments in the US, but overall it's no contest for me - most of my investments are outside the US.

Has Investing in America Become Passe?

No denying that America still has some great companies and great people in the country!

But you have to quit waving the flag long enough to see that the greedy elites in Wall Street & Washington are corrupt and are destroying the country.

By the way, don't put your flag down - it may get stolen by one of the greedy elite.

Buy and Hold Is Alive and Well

You would have made a stronger argument if you would have included bear market years - say take the 20 yr period from 1969 to 1989. Financial market history did not just begin with the advent of the bull market in the early 80s.