Philly Jim

94 Comments

    • Gold Prices Keep Getting Fishier [view article]
      1999 was a great year in that everyone thought the world was gonna end if computers weren't upgraded so the entire world went on a spending binge for gold, capital goods for companies, etc... What did we see? A boom in jobs, manufacturing, huge surplus, etc... What does this tell us? Capital investments create jobs and surpluses. Oct 11 10:44 PM
    • Is Gold A Sucker's Bet? [view article]
      The only reason gold took a dive last week was because of all the hedge funds trying to raise funds to cover their asses as those loans came callin. Oct 11 10:12 PM
    • Where We Go from Here: Best and Worst Cases [view article]
      One word describes what is happening. C O N S O L I D A T I O N - what was J.P. Morgan famous for? Times have changed and unfortunately, this was needed for the West to survive. Oct 11 02:43 PM
    • Media Meltdown Is Even Worse Than Markets [view article]
      New medi(ums). The internet is relatively new and has only recently become the new choice/medium for new generations to get their entertainment, news, and communicate with one another through. The "media" giants of the past are just that, giants of the past. The evolution of media will be boutique and once the new government gets in and liberalizes the airwaves and opens-up the doors of competition, we will see a slew of small start-up venues catering to specific class genres in society, e.g. hipsters, hiphop, old foggies, techies, etc... Advertising will be very centric rather than simply eccentric. Unless of course the genius of the Bush admin steps in to bail them out too. What the hell ever happened to the free market capitalism modo of the republican party? Failures are failures and should be left to the wind while new companies form off new ideas for new generations. The problem with the companies of older generations is that they are all being run by older people who are out-of-touch with the needs of young consumers. The perfect example would be Rick Wagoner of GM. Oct 11 02:36 PM
    • The Year of the Bear [view article]
      A banker friend of mine has suggested this entire financial crisis is consolidation of wealth and power in order for the U.S. to stave off a rising superpower we know as China from becoming the world's most powerful financial/military force. I don't want to repeat the entire conversation but basically this is necessary and people in the U.S. and Europe need to hurt financially and stop buying imported stuff for a while. Those who are smart will survive; inverse etf's, gold, currencies, s/t treasuries. Oct 10 01:16 AM
    • Economic Indicators Signal a Major Collapse Ahead [view article]
      States will need to cut back on all the freebies they give to prisoners and welfare recipients which are currently the two largest costs in state budgets. Also, the Housing and Urban Development bureau will need to cut back significantly on all the millions of rent checks they pick the tab up on if states are to survive this crisis! The old days of ask for more or you will get less are out the window! The Federal government needs to hire armies of accountants and federal agents to investigate fraud and misuse of federal funds immediately. Oct 08 09:30 AM
    • Cramer: Dow Could Drop Another 14%, Oil's Going to $50 [view article]
      My 2 cents: Wasn't Cramer calling for $1,600 gold? Now he says coms are bid too high? If central banks like China, Russia, etc. begin buying gold rather than U.S. treasuries and U.S bank paper -woa, how about $2,600 oz - couple that with another major war(s) if things get really bad and boom, $5k ounce gold. Call me crazy but we may see some real civil unrest(race riots) in the U.S. if things get really bad economically speaking. Hardworking families are going to have time to think about things when they are not employed and can't afford their home, insurance, car, etc.. Oct 08 12:56 AM
    • Rising Gold and Silver: Essential to Any Investment Strategy [view article]
      I would definitely load-up on gold and silver before Obama gets in office and gives even more taxpayer dollars away to the "community". Oct 06 09:33 AM
    • Fannie and Freddie Did Not Cause This Crisis [view article]
      What's destroying America? Sub-prime & Section 8 housing. Hmmmm, and Obama wants to increase the amount of taxes you pay so the government can continue funding these failed causes that eat our cities alive? Oct 06 01:44 AM
    • America's Real Wealth [view article]
      I forgot to mention. Everyone seems to want blame and crucify Wallstreet and its executives for these failed mortgages, but they weren't the brokers who were being pressured to put minorities and low-income people into homes they couldn't afford with cheap money from Fannie, Freddie, Countrywide, etc... Wallstreet was simply doing what it does best. Congress is to blame for failure to regulate these GSE's while dolts like Mozilo walk away with $110 million golden parachutes before the sh*t hits the fan. Again, ZERO ACCOUNTABILITY CULTURE under the Bush administration. I thought republicans were tough but I guess there is too much guilt on both sides to start blaming. BTW: The Justice department was dragged through the mud and will never have the same reputation after Gonzales, so don't depend on them. Oct 05 06:50 AM
    • America's Real Wealth [view article]
      I appreciate your patriotism - brother. Your article is nice but offers no condemnation or call for culpability! If we never learn why, we will never prevent it from happening again! The media is not talking about why because the media is no longer involved in investigative journalism, rather sensationalism.

      "Our wealth is in our people—their intelligence, optimism, can-do spirit and willingness to take calculated risks."

      The former Treasury secretary (Snow) and Federal Reserve chairman (Greenspan) were warning congress that a disaster was ahead if mortgage market wasn't regulated. Democratic senators like Chuck Schumer, Chris Dodd, and Barney Frank were condemning them for interfering with the nation's progress and boasting how great things were, ignoring the time-bomb developing.

      Next, blame rests in the people you fail to point out in the crowd - those without a penny to their name who were buying homes they couldn't afford. The very same people Obama helped to get into homes they couldn't afford while working as a community organizer in Chicago with the ACORN organization. Let's not forget about the speculators/investors/... who fueled the bubble as well - speculators who bought 10 or 20 houses at a time without any documents proving they could afford them.

      WE SEEM TO BE CREATING A NEW CULTURE OF ZERO ACCOUNTABILITY IN THE UNITED STATES OF AMERICA UNDER THE BUSH ADMINISTRATION. This isn't a Democrat or Republican issue because morons on both side are responsible for not living up to their responsibilities to protect and serve the nation, rather they were living the high life - fancy galas, hefty campaign contributions, gifts, prestige, power, vanity.

      NOW OUR EMPIRE CRUMBLES AT THE HANDS OF FOOLS.
      (Where are our military leaders? Isn't this a national security issue?)
      (Shouldn't certain members of congress be impeached, brokers jailed, liars fined, spending controlled????)       Oct 05 06:38 AM
    • Some True Safe Havens Are Still (Surprisingly) Undervalued [view article]
      Why can't they wipe out our debts when they wipe out a bank? ;)

      I totally agree with you that silver and platinum are the best buys at these levels. Gold is a really strange one, too volatile for my liking. Inverse ETF's might be safe than gold now.       Oct 03 12:54 AM
    • The 20-Month Gold Puzzle [view article]
      Ever think that maybe the treasury is holding their gold for what may come? Oct 03 12:48 AM
    • Even Asset Managers Run For Cover to Gold ETFs [view article]
      I'm amazed it's staying under $900 in this environment. Oct 02 08:49 AM
    • Gold Bulls: Beware [view article]
      Are you suggesting that these ETF funds may go under and their storage of physical gold means nothing? Dude, the 2nd shoe is dropping, the money spicket is turned off for America, nations around the world are increasing their gold reserves and the paper money promises are just that, no matter how much political "racketeering&quo... goes on. If the world economy was a jet, it would be an aging 1970's airliner with torn seats and sputtering engines filled with 70 yr olds on their way to retirement. The world bankers are gonna place their bets on China unless the U.S. proves to be more dynamic and secure. Until then, gold in your safe is good but so are ETF's that can be sold in a few seconds. Oct 02 08:09 AM
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