(Hey, SA, you are doing a good job and I enjoy the feeds, but my jest below is timely, and needs to be said. If there is any person there with a sense of humor this will see the light of day. If you want to edit it, please do. Please don't let this, you baby here, slip into silly season with all these wacko predictions you publish. And don't be fooled with numbers as magic. Will I take a bashing with this? You bet. Bring'em on.)
I will try to write this without mentioning names to protect the wrong, silly and stupid.
I think Seeking Alpha is a fine news source and has helpful market information, however, there seems to be a growing number of columns stating, in so many words, the end of the world is coming to the United States economic system. Yawn.
For example (bold lettering used for emphasis) Gold is going to $2000 an ounce. No, wait, it’s going o $3000 an ounce! No, it’s going to $5000 an ounce! Do I hear $5000 and 1? These numbers are silly an all those who believe it are silly and doom and gloom mongers. Do you really think that if it came down to nothing is worth anything except gold, gold would be worth anything too? Only a gold nut believes gold is the last thing of value. In the end of the world, gold goes too, silly. In the end all that is worth anything is something you can eat or drink. In the end, a chocolate shake, burger and fries is worth all the gold in the world.
There will be runaway hyper inflation and the dollar will collapse and the US will look like Germany in the 1920s. You know, the pictures of people we saw in history class text books with wheel barrels full of money hoping to buy a loaf of bread. Once again, yawn. This is silly. Won’t happen.
We are headed for a DEEP depression with massive unemployment and soup kitchens and . . . Again, remember those black and white photos of guys lined up in soup kitchen lines. Again, we are past that. Sorry to be the one with happy news.
The US will be just like Japan and have stagnant growth for 10 to 20 years. We are not Japan and that, again, is wrong.
Oil is going to $250 a barrel. Sure it would go above $100 if we or some other unnamed country bombs Iran, but at $250 a barrel the US economy would stop long before it topped out. Gas would be, my guess is as good as your guess, $10 a gallon. Boy, would we all go green at $10 a gallon gas. I can’t prove it, but I think the people that believe this also don’t believe in global warming. Yea, I know a liberal conspiracy. Yawn.
The Government Debt will drown us all. More doom and gloom and I won’t confuse you with facts like how much debt did we have during WW2 and we made it through?
Gee, it seems the boys and girls at our Federal Reserve and at Treasury got it right. Shucks, I guess even the unskilled get luck, eh, doom and gloom folks?
Now, some the above bold headlines, to be frank and honest, are just plain disgruntled political conservative losers who want to find anything the current administration does as evil socialism. For those economically pure lassie faire types who think we should have done nothing, you are worse than doom and gloom, you are: LET’EM EAT CAKE FOLKS. Sure it would have been just peachy if we let fail: (Just a partial list) Banks, (regional as well as the big four) brokerage houses, insurance companies, Detroit, (to include the city and the cars), and the housing industry. Again, my guess is as good as your guess, employment would be climbing toward 25%. But we would be financial pure, right ?
Another group, commonly called Rukeyser elves, aiding all this doom and gloom with mumbo jumbo, are the TA chart readers, who really believe their voodoo interpretations of chart machinations are infallible mystical revelations of future events. I really have to laugh at these people when they declare these squiggly lines are: Head shoulders, saucer and cup, a double whammy, inverted diabolical pyramid curve. (I made the last one up. I bet you didn’t notice) Agreed TA and chart analysis is 100% right when looking at what happened, and they are 100% right in what is happening, but their accuracy rate goes way way way way down foretelling future market movements. The future is the ONLY place you want to be in the market. TA is no more accurate than fundamental analysis.
And speaking of future, there is one. All the end-of-world, doom and gloom, dire warnings and emanate apocalypse now zealots, you are really funny. Keep it up. I can’t imagine what wacko predictions are in store for the economic community in 2012. Don’t bash me or I’m naming names and will post your silliness in the future.