BrunoT's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/215225/comments http://seekingalpha.com/article/141868-a-strange-anomaly-increasing-foreclosures-equals-increased-consumer-spending?source=feed#comment-539618 539618
He's since filed for bankruptcy and is happy as a clam. Hasn't paid a mortgage in 5 months and continues to live the same identical lifestyle and has not even been contacted about forclosure. He's got an extra $6,000 in his pocket from not paying the mortgage. Of course that's going to affect his spending habits. If he was living it up when dead broke, imagine what he can do with an extra $1200/month?

The shocking thing here is that Americans have such a sense of entitlement that even when losing a home they fail to change their spending habits sufficiently. Instead of saving a nest egg for the next rainy day, they are spending much of it. All they save is the deposit needed to rent an apt. I witness 2pm weekday traffic jams daily near the mall here. Some depression we're having. ]]> Tue, 09 Jun 2009 19:46:11 -0400
He's since filed for bankruptcy and is happy as a clam. Hasn't paid a mortgage in 5 months and continues to live the same identical lifestyle and has not even been contacted about forclosure. He's got an extra $6,000 in his pocket from not paying the mortgage. Of course that's going to affect his spending habits. If he was living it up when dead broke, imagine what he can do with an extra $1200/month?

The shocking thing here is that Americans have such a sense of entitlement that even when losing a home they fail to change their spending habits sufficiently. Instead of saving a nest egg for the next rainy day, they are spending much of it. All they save is the deposit needed to rent an apt. I witness 2pm weekday traffic jams daily near the mall here. Some depression we're having. ]]> http://seekingalpha.com/article/139999-roubini-the-revisionist?source=feed#comment-521383 521383
"One of my passions in life is calling people out. Call it aggressive, or call it plain dumb – I am a hockey player by training don’t forget, and that’s just what I do."

If that's your passion, is being a douche just part of your job?
]]> Thu, 28 May 2009 12:16:34 -0400
"One of my passions in life is calling people out. Call it aggressive, or call it plain dumb – I am a hockey player by training don’t forget, and that’s just what I do."

If that's your passion, is being a douche just part of your job?
]]> http://seekingalpha.com/article/139957-faber-peddling-gloom-doom-inflation-and-gold?source=feed#comment-520183 520183
1. completely misquoted the man in the column.
2. compared a short term forecast by the fed on inflation over the next few years with a prediction of eventual hyperinflation in which no time frame was given. I am sure you are going to die. Is that the same as saying you're going to die in 3 years? Think it's fair comparison?
3. You failed to back up your assertions with anything remotely resembling proof or a coherent argument except for quoting the fed's "target rate". And of course everyone knows the Fed never lies or is completely wrong! Does it occur to you that this mess was caused by the same federal reserve you're putting your faith in? Thankfully everyone knows that using terms like "ludicrous/extreme/sen... is considered a legitimate substitute for facts when you're making an argument.
4. You refer to a man giving an interview to legitimate news sources as "peddling" inflation. I'm guessing you wanted us to infer he's up to something nefarious with the use of that word, like he's peddling fake Rolex watches on a street corner. Meanwhile you're here trying to drum up clients by writing columns and prominently listing your Company's services. So, would you also refer to yourself as "peddling" something? Or do you give your research away for free? Nice try though.

Unfortunately, I gotta give this one a big FAIL! Try writing a well researched, fair piece differing with the guy. You might gain more credibility with that approach. ]]> Wed, 27 May 2009 17:09:55 -0400
1. completely misquoted the man in the column.
2. compared a short term forecast by the fed on inflation over the next few years with a prediction of eventual hyperinflation in which no time frame was given. I am sure you are going to die. Is that the same as saying you're going to die in 3 years? Think it's fair comparison?
3. You failed to back up your assertions with anything remotely resembling proof or a coherent argument except for quoting the fed's "target rate". And of course everyone knows the Fed never lies or is completely wrong! Does it occur to you that this mess was caused by the same federal reserve you're putting your faith in? Thankfully everyone knows that using terms like "ludicrous/extreme/sen... is considered a legitimate substitute for facts when you're making an argument.
4. You refer to a man giving an interview to legitimate news sources as "peddling" inflation. I'm guessing you wanted us to infer he's up to something nefarious with the use of that word, like he's peddling fake Rolex watches on a street corner. Meanwhile you're here trying to drum up clients by writing columns and prominently listing your Company's services. So, would you also refer to yourself as "peddling" something? Or do you give your research away for free? Nice try though.

Unfortunately, I gotta give this one a big FAIL! Try writing a well researched, fair piece differing with the guy. You might gain more credibility with that approach. ]]> http://seekingalpha.com/article/138020-the-housing-bubble-greenspan-s-wayward-son?source=feed#comment-507141 507141

On May 17 09:59 AM surgcare wrote:

> I normally agree wit Peter but its hard to accept that " ONE " person
> could cause the severe problems we now face .]]> Sun, 17 May 2009 10:54:01 -0400

On May 17 09:59 AM surgcare wrote:

> I normally agree wit Peter but its hard to accept that " ONE " person
> could cause the severe problems we now face .]]> http://seekingalpha.com/article/135711-how-to-fix-our-economy-stop-obamas-recklessness?source=feed#comment-491845 491845

On May 06 10:21 AM BrunoT wrote:

> Gold's within about $10 of where it was 3 months ago and has been
> pretty static. Since when is that "but the fact gold is going down"
> ?
>
> You show a complete lack of understanding of money and economics.
> Gold "goes down" in an inflation in what? Automobiles? No. Homes?
> No. Only DOLLARS. Who gives a flying fudge if the price of gold in
> DOLLARS goes down if your gold buys you more oil, homes, cars, food,
> or whatever else than before?
>
> You could buy much more house, oil, or car with an oz of gold this
> past winter than you could the summer before, even though the price
> of gold "fell".
>
> THAT is one reason why gold is superior to dollars. It's thought
> of not in numerical terms but in terms of what real things it will
> buy.
>
> Get a proper economic education before you start pontificating to
> others about how to invest. You FIRE economy types killed the economic
> futures of millions of trusting citizens who didn't know you were
> nearly as clueless as they were. Please avoid another round of losses
> for your clients and get an decent economic education. And no, technical
> knowledge of options and futures doesn't count.
>
> Your 4% home mortgage solution is laughable. What happens great wizard
> when this subsidy ends? Do you think when mortgage rates are allowed
> to return to market levels (sky high because of your silly "print
> money" scheme destroying the currency) home prices will remain stable?
> Would YOU pay more for a home with a 12% mortgage than one with a
> 4% mortgage? No, you'll simply postpone things and we'll suffer yet
> another crash then.
>
> The fact that you guys mix in this drivel and ignorance with actual
> good criticisms of the Obama "plan" only adds insult to injury, as
> you've in one swoop also managed to discredit anyone justifiably
> critical of his "recklessness" by associating your bad ideas with
> them.
>
>
>
>
>
>
> ]]> Wed, 06 May 2009 10:22:37 -0400

On May 06 10:21 AM BrunoT wrote:

> Gold's within about $10 of where it was 3 months ago and has been
> pretty static. Since when is that "but the fact gold is going down"
> ?
>
> You show a complete lack of understanding of money and economics.
> Gold "goes down" in an inflation in what? Automobiles? No. Homes?
> No. Only DOLLARS. Who gives a flying fudge if the price of gold in
> DOLLARS goes down if your gold buys you more oil, homes, cars, food,
> or whatever else than before?
>
> You could buy much more house, oil, or car with an oz of gold this
> past winter than you could the summer before, even though the price
> of gold "fell".
>
> THAT is one reason why gold is superior to dollars. It's thought
> of not in numerical terms but in terms of what real things it will
> buy.
>
> Get a proper economic education before you start pontificating to
> others about how to invest. You FIRE economy types killed the economic
> futures of millions of trusting citizens who didn't know you were
> nearly as clueless as they were. Please avoid another round of losses
> for your clients and get an decent economic education. And no, technical
> knowledge of options and futures doesn't count.
>
> Your 4% home mortgage solution is laughable. What happens great wizard
> when this subsidy ends? Do you think when mortgage rates are allowed
> to return to market levels (sky high because of your silly "print
> money" scheme destroying the currency) home prices will remain stable?
> Would YOU pay more for a home with a 12% mortgage than one with a
> 4% mortgage? No, you'll simply postpone things and we'll suffer yet
> another crash then.
>
> The fact that you guys mix in this drivel and ignorance with actual
> good criticisms of the Obama "plan" only adds insult to injury, as
> you've in one swoop also managed to discredit anyone justifiably
> critical of his "recklessness" by associating your bad ideas with
> them.
>
>
>
>
>
>
> ]]> http://seekingalpha.com/article/135711-how-to-fix-our-economy-stop-obamas-recklessness?source=feed#comment-491844 491844
You show a complete lack of understanding of money and economics. Gold "goes down" in an inflation in what? Automobiles? No. Homes? No. Only DOLLARS. Who gives a flying fudge if the price of gold in DOLLARS goes down if your gold buys you more oil, homes, cars, food, or whatever else than before?

You could buy much more house, oil, or car with an oz of gold this past winter than you could the summer before, even though the price of gold "fell".

THAT is one reason why gold is superior to dollars. It's thought of not in numerical terms but in terms of what real things it will buy.

Get a proper economic education before you start pontificating to others about how to invest. You FIRE economy types killed the economic futures of millions of trusting citizens who didn't know you were nearly as clueless as they were. Please avoid another round of losses for your clients and get an decent economic education. And no, technical knowledge of options and futures doesn't count.

Your 4% home mortgage solution is laughable. What happens great wizard when this subsidy ends? Do you think when mortgage rates are allowed to return to market levels (sky high because of your silly "print money" scheme destroying the currency) home prices will remain stable? Would YOU pay more for a home with a 12% mortgage than one with a 4% mortgage? No, you'll simply postpone things and we'll suffer yet another crash then.

The fact that you guys mix in this drivel and ignorance with actual good criticisms of the Obama "plan" only adds insult to injury, as you've in one swoop also managed to discredit anyone justifiably critical of his "recklessness" by associating your bad ideas with them.







]]> Wed, 06 May 2009 10:21:59 -0400
You show a complete lack of understanding of money and economics. Gold "goes down" in an inflation in what? Automobiles? No. Homes? No. Only DOLLARS. Who gives a flying fudge if the price of gold in DOLLARS goes down if your gold buys you more oil, homes, cars, food, or whatever else than before?

You could buy much more house, oil, or car with an oz of gold this past winter than you could the summer before, even though the price of gold "fell".

THAT is one reason why gold is superior to dollars. It's thought of not in numerical terms but in terms of what real things it will buy.

Get a proper economic education before you start pontificating to others about how to invest. You FIRE economy types killed the economic futures of millions of trusting citizens who didn't know you were nearly as clueless as they were. Please avoid another round of losses for your clients and get an decent economic education. And no, technical knowledge of options and futures doesn't count.

Your 4% home mortgage solution is laughable. What happens great wizard when this subsidy ends? Do you think when mortgage rates are allowed to return to market levels (sky high because of your silly "print money" scheme destroying the currency) home prices will remain stable? Would YOU pay more for a home with a 12% mortgage than one with a 4% mortgage? No, you'll simply postpone things and we'll suffer yet another crash then.

The fact that you guys mix in this drivel and ignorance with actual good criticisms of the Obama "plan" only adds insult to injury, as you've in one swoop also managed to discredit anyone justifiably critical of his "recklessness" by associating your bad ideas with them.







]]> http://seekingalpha.com/article/133924-high-yield-canadian-royalty-trusts-vs-dividend-growth-stocks?source=feed#comment-482472 482472
Even after severe drops in dividends after oil prices crashed late last year (not because unit/stock prices dropped, that is not a factor in dividends) a 10-20% dividend is still light years ahead of anything else. And when oil rises back (it's already way up from the lows earlier this year) the dividends will rise again.

Do you seriously think that during a major depression that may last years your stocks will have real inflation adjusted gains equal to that? Insanity.

You also failed to mention that when the dollar drops in value soon and the canadian dollar doesn't, those dividends will get a multiplier effect from the currency exchange that could add significantly. Or that when US oil stocks get hammered with "excess profit" taxes by a democrat congress as oil prices rise, Canadian ones may not.

And finally, the unit price of these canroys is 1/3 what it was less than a year ago, and dividends have already been adjusted to the lower price of oil. Even if oil halved again they could STILL pay out more than the stocks you listed above. But what if oil returns to even $120/bbl? They double in unit price AND dividends are raised.

I have some PWE purchased that yields me almost 30%. And the unit price is up over 50% since I bought it a few months ago. So stick that in your pipe and smoke it, "expert".



How hard is that simple concept to understand?]]> Wed, 29 Apr 2009 10:10:39 -0400
Even after severe drops in dividends after oil prices crashed late last year (not because unit/stock prices dropped, that is not a factor in dividends) a 10-20% dividend is still light years ahead of anything else. And when oil rises back (it's already way up from the lows earlier this year) the dividends will rise again.

Do you seriously think that during a major depression that may last years your stocks will have real inflation adjusted gains equal to that? Insanity.

You also failed to mention that when the dollar drops in value soon and the canadian dollar doesn't, those dividends will get a multiplier effect from the currency exchange that could add significantly. Or that when US oil stocks get hammered with "excess profit" taxes by a democrat congress as oil prices rise, Canadian ones may not.

And finally, the unit price of these canroys is 1/3 what it was less than a year ago, and dividends have already been adjusted to the lower price of oil. Even if oil halved again they could STILL pay out more than the stocks you listed above. But what if oil returns to even $120/bbl? They double in unit price AND dividends are raised.

I have some PWE purchased that yields me almost 30%. And the unit price is up over 50% since I bought it a few months ago. So stick that in your pipe and smoke it, "expert".



How hard is that simple concept to understand?]]> http://seekingalpha.com/article/133418-how-much-oil-can-gold-buy?source=feed#comment-480599 480599 Tue, 28 Apr 2009 09:32:30 -0400 http://seekingalpha.com/article/131646-cramer-s-stop-trading-the-bears-big-bluff-4-17-09?source=feed#comment-468215 468215
]]> Sun, 19 Apr 2009 09:14:18 -0400
]]> http://seekingalpha.com/article/131010-the-next-leg-up-in-financials?source=feed#comment-464961 464961 Thu, 16 Apr 2009 09:57:54 -0400 http://seekingalpha.com/article/128092-where-does-the-gold-etf-get-its-gold?source=feed#comment-441520 441520
]]> Thu, 26 Mar 2009 16:39:22 -0400
]]> http://seekingalpha.com/article/127942-canadian-energy-trusts-the-best-long-term-income-and-dollar-hedge?source=feed#comment-440787 440787

On Mar 26 08:42 AM notagoldbug wrote:

> you guys are clueless...canadian oil/gas trusts are to convert to
> corp by 2011 so just buy oil/gas stocks......NOW.......... trusts
> are leveraged and cuting their distributions .. yields are a false
> way to evaluate the investment merits....stay informed]]> Thu, 26 Mar 2009 09:23:32 -0400

On Mar 26 08:42 AM notagoldbug wrote:

> you guys are clueless...canadian oil/gas trusts are to convert to
> corp by 2011 so just buy oil/gas stocks......NOW.......... trusts
> are leveraged and cuting their distributions .. yields are a false
> way to evaluate the investment merits....stay informed]]> http://seekingalpha.com/article/127164-gold-against-stocks-over-the-decades-not-as-impressive?source=feed#comment-435200 435200
Just because something "was" for a period of time when conditions were different, doesn't mean it will always be in the future. You adjust your investments to the conditions.

The fact is, most "investor" class participants are young enough that they came of age in a 25 year bull market in stocks. Anyone under about 60 never had enough to invest to even know there were actually bad times to be in stocks. If they had languished from '68 to '82 in stocks as gold soared while developing their world view they may have garnered an appreciation that stocks don't always rise, just as recently their non-thinking classmates learned the lesson that real estate doesn't always rise in value.

The problem is some want to avoid a deeper understanding of economics by using silly rules of thumb and historical precedents as a short cut vs the hard work and time it takes to obtain a true understanding. They want something they can obtain at the water cooler in 5 minutes. ]]> Sun, 22 Mar 2009 10:20:50 -0400
Just because something "was" for a period of time when conditions were different, doesn't mean it will always be in the future. You adjust your investments to the conditions.

The fact is, most "investor" class participants are young enough that they came of age in a 25 year bull market in stocks. Anyone under about 60 never had enough to invest to even know there were actually bad times to be in stocks. If they had languished from '68 to '82 in stocks as gold soared while developing their world view they may have garnered an appreciation that stocks don't always rise, just as recently their non-thinking classmates learned the lesson that real estate doesn't always rise in value.

The problem is some want to avoid a deeper understanding of economics by using silly rules of thumb and historical precedents as a short cut vs the hard work and time it takes to obtain a true understanding. They want something they can obtain at the water cooler in 5 minutes. ]]> http://seekingalpha.com/article/127107-what-inflation-looks-like-in-real-life?source=feed#comment-435181 435181
As for the difficulty of "making change" with gold, please try to keep up. One doesn't have to shave off bits of physical gold from a bar to pay the grocer. We already have credit cards and debit card technology. You'll just deposit your gold with a bank and 'gold grams" will be debited as required to pay your bills. GOLD WILL BECOME A COMPETING CURRENCY. (unless the govn't seizes it to prevent the competition)

Some people here need to go take a beginner course on what money was, is, and always will be. It's a medium of exchange, store of value, that's all. Any form you can print and make easily will of course eventually fail. It's too tempting to make your own money to pay your national bills with instead of raising taxes. ]]> Sun, 22 Mar 2009 10:13:05 -0400
As for the difficulty of "making change" with gold, please try to keep up. One doesn't have to shave off bits of physical gold from a bar to pay the grocer. We already have credit cards and debit card technology. You'll just deposit your gold with a bank and 'gold grams" will be debited as required to pay your bills. GOLD WILL BECOME A COMPETING CURRENCY. (unless the govn't seizes it to prevent the competition)

Some people here need to go take a beginner course on what money was, is, and always will be. It's a medium of exchange, store of value, that's all. Any form you can print and make easily will of course eventually fail. It's too tempting to make your own money to pay your national bills with instead of raising taxes. ]]> http://seekingalpha.com/article/124723-resurgent-dollar-leaves-gold-in-the-dust?source=feed#comment-418286 418286
"it's now a good bet that on a 12m view, inflation concerns will have abated, the dollar will be in a surprisingly strong uptrend, and US equities will be materially higher from here."

Beware of those dispensing readings of the future for money. They're not much more reliable than palm readers. And like psychics, they never seem as proud of crowing about their abject failures as they do about the twice a day the stuck clock is correct.

Does about half sound like being "materially higher" to you?
]]> Sun, 08 Mar 2009 15:43:38 -0400
"it's now a good bet that on a 12m view, inflation concerns will have abated, the dollar will be in a surprisingly strong uptrend, and US equities will be materially higher from here."

Beware of those dispensing readings of the future for money. They're not much more reliable than palm readers. And like psychics, they never seem as proud of crowing about their abject failures as they do about the twice a day the stuck clock is correct.

Does about half sound like being "materially higher" to you?
]]> http://seekingalpha.com/article/124723-resurgent-dollar-leaves-gold-in-the-dust?source=feed#comment-418278 418278 This is like fleeing upstairs in a highrise fire rather than risking the heat by running downstairs to true safety. Yeah, you're safer NOW than on the burning floors, and you've avoided getting singed, but you're eventually going to die if they can't put the fire out, because you took the easy way out.

Far from putting out the fire, the govn't seems to be feedign it dollar bills by the Trillion.
]]> Sun, 08 Mar 2009 15:35:19 -0400 This is like fleeing upstairs in a highrise fire rather than risking the heat by running downstairs to true safety. Yeah, you're safer NOW than on the burning floors, and you've avoided getting singed, but you're eventually going to die if they can't put the fire out, because you took the easy way out.

Far from putting out the fire, the govn't seems to be feedign it dollar bills by the Trillion.
]]> http://seekingalpha.com/article/121250-gold-the-only-remaining-bubble?source=feed#comment-416217 416217
I'm sure you WISH we were in a deflation. You probably even believe it, poor thing. Go check last quarters food prices. Up at a 5% annualized rate. How is that deflation? Wanna bet gas prices are lower this summer than now? ASSET prices are dropping as we all get poorer, that's all. It's not the same as deflation.

And the proper term is "libel", not "slander". You might want to brush up on that kind of thing before your big institutional clients figure out you don't know something that basic.

Finally, you might want to rethink that whole "I'll insult people to make a point" tactic. Calling them cultists and implying that they are so stupid they've become your best contrarian indicators isn't likely to win you any following. Because it sure sounds like you can't take it when they toss your own monkey poo back in your direction. ]]> Fri, 06 Mar 2009 13:15:28 -0500
I'm sure you WISH we were in a deflation. You probably even believe it, poor thing. Go check last quarters food prices. Up at a 5% annualized rate. How is that deflation? Wanna bet gas prices are lower this summer than now? ASSET prices are dropping as we all get poorer, that's all. It's not the same as deflation.

And the proper term is "libel", not "slander". You might want to brush up on that kind of thing before your big institutional clients figure out you don't know something that basic.

Finally, you might want to rethink that whole "I'll insult people to make a point" tactic. Calling them cultists and implying that they are so stupid they've become your best contrarian indicators isn't likely to win you any following. Because it sure sounds like you can't take it when they toss your own monkey poo back in your direction. ]]> http://seekingalpha.com/article/121250-gold-the-only-remaining-bubble?source=feed#comment-395615 395615
Please provide us with a list of your assets that have risen in the last year. Did you notice that gold has?

BTW my double long gold is up 69% since I bought it around the time you were trumpeting your call on how bad gold was. Guys like you were MY contrarian signal to buy more. Thank you, as you guys have made it possible to accumulate gold at relatively cheap prices for years as you've brayed about how it's no good.

I could sit in bank CD's for the next decade and still beat the stock market from here on out.

PS. learn the definition of "bubble" before you cast it around. ]]> Thu, 19 Feb 2009 16:08:01 -0500
Please provide us with a list of your assets that have risen in the last year. Did you notice that gold has?

BTW my double long gold is up 69% since I bought it around the time you were trumpeting your call on how bad gold was. Guys like you were MY contrarian signal to buy more. Thank you, as you guys have made it possible to accumulate gold at relatively cheap prices for years as you've brayed about how it's no good.

I could sit in bank CD's for the next decade and still beat the stock market from here on out.

PS. learn the definition of "bubble" before you cast it around. ]]> http://seekingalpha.com/article/118999-the-u-s-dollar-waiting-to-tank-gold-s-run?source=feed#comment-378209 378209
Too bad they didn't teach common sense at Harvard.

Thank heavens I was heavy into gold and not stocks. My gains were protected.

Every asset class has its time and place. Squiqqly lines to the contrary.

Now go tell those of us who bought DGP 3 months ago instead of treasuries how badly we're mistaken..lol! ]]> Fri, 06 Feb 2009 10:04:00 -0500
Too bad they didn't teach common sense at Harvard.

Thank heavens I was heavy into gold and not stocks. My gains were protected.

Every asset class has its time and place. Squiqqly lines to the contrary.

Now go tell those of us who bought DGP 3 months ago instead of treasuries how badly we're mistaken..lol! ]]> http://seekingalpha.com/article/116297-evidence-that-big-inflation-is-coming?source=feed#comment-366513 366513 I'd be wary of listening to Bill Gross at PIMCO. He is an "interested party" in all this and has his own agenda. I've learned to check the agenda of anyone writing about the economy before accepting what they say.

Amazingly almost everyone (from the treasury sec. to Peter Schiff) has some sort of profit motive tied to what they are saying. I am a Schiff fan, agree with how he sees things, but his call to go into foreign stocks was probably motivated as much by commissions as it was economics. He knew you don't need him to buy gold and treasuries, so he couldn't recommend that 100%...no commissions for his firm if you did that. He HOPED the foreign stocks wouldn't get taken down with us, but they were. At least temporarily. There was certainly no harm in sitting the crash out on the sidelines, but he wanted those commissions rolling in before the crash played out. Long term his holdings will recover, but everyone has an agenda.

As for Mish, that guy is like Hitler. He has a theory and will stick to it till the bitter end, refusing to surrender in his bunker. The idea that we can print up money and hand it out instead of making people and institutions earn it and have it EVER turn out well is about as insane as some of Hitler's ideas. Yet another case of an educated person making valid small points yet missing the big one. Chickens lay eggs. Eggs turn into chickens. Therefore eating an egg is the same as eating a chicken.

]]> Mon, 26 Jan 2009 11:14:53 -0500 I'd be wary of listening to Bill Gross at PIMCO. He is an "interested party" in all this and has his own agenda. I've learned to check the agenda of anyone writing about the economy before accepting what they say.

Amazingly almost everyone (from the treasury sec. to Peter Schiff) has some sort of profit motive tied to what they are saying. I am a Schiff fan, agree with how he sees things, but his call to go into foreign stocks was probably motivated as much by commissions as it was economics. He knew you don't need him to buy gold and treasuries, so he couldn't recommend that 100%...no commissions for his firm if you did that. He HOPED the foreign stocks wouldn't get taken down with us, but they were. At least temporarily. There was certainly no harm in sitting the crash out on the sidelines, but he wanted those commissions rolling in before the crash played out. Long term his holdings will recover, but everyone has an agenda.

As for Mish, that guy is like Hitler. He has a theory and will stick to it till the bitter end, refusing to surrender in his bunker. The idea that we can print up money and hand it out instead of making people and institutions earn it and have it EVER turn out well is about as insane as some of Hitler's ideas. Yet another case of an educated person making valid small points yet missing the big one. Chickens lay eggs. Eggs turn into chickens. Therefore eating an egg is the same as eating a chicken.

]]> http://seekingalpha.com/article/116448-could-there-be-a-real-breakout-in-gold?source=feed#comment-366400 366400 Mon, 26 Jan 2009 10:09:04 -0500 http://seekingalpha.com/article/115677-de-leveraging-is-not-deflation?source=feed#comment-362097 362097
But I just use common sense. I find it hard to believe that massive printing of money and handing it out to those who didn't earn it, with no end in sight, is a good thing. Therefore, the market will punish this behavior. There is no "something for nothing" in life.

I also believe that living it up now and not worrying about how to pay for it will lead to ruin later. Isn't that just common sense?

It sounds to me like we've punished savings and rewarded indebtedness. Anyone sitting on retirement savings making 2% during a period of 4-8% price inflation could tell you that.

And now we are moving to punishing future generations as well. We're attempting to put off our day of reckoning by moving it to the future generations to deal with since we fear the correction happening on our watch.

My hunch is we won't get far. My other hunch is that those favoring the deflation theories are simply whistling in the graveyard, looking for an excuse as to why this massive money creation to temporarily prop our standard of living up is a good thing.

It would be nice if we could make the money supply all even, "just right", like the 3 bears story. But unfortunately our story won't end happily.]]> Wed, 21 Jan 2009 13:22:48 -0500
But I just use common sense. I find it hard to believe that massive printing of money and handing it out to those who didn't earn it, with no end in sight, is a good thing. Therefore, the market will punish this behavior. There is no "something for nothing" in life.

I also believe that living it up now and not worrying about how to pay for it will lead to ruin later. Isn't that just common sense?

It sounds to me like we've punished savings and rewarded indebtedness. Anyone sitting on retirement savings making 2% during a period of 4-8% price inflation could tell you that.

And now we are moving to punishing future generations as well. We're attempting to put off our day of reckoning by moving it to the future generations to deal with since we fear the correction happening on our watch.

My hunch is we won't get far. My other hunch is that those favoring the deflation theories are simply whistling in the graveyard, looking for an excuse as to why this massive money creation to temporarily prop our standard of living up is a good thing.

It would be nice if we could make the money supply all even, "just right", like the 3 bears story. But unfortunately our story won't end happily.]]> http://seekingalpha.com/article/114319-gold-loses-its-shine?source=feed#comment-353186 353186
I'm not a gold "bug", but I don't have time to shoot holes in these weak arguments.

If he'd have bothered to even read a wikipedia article on gold he'd understand more about what makes it different than fiat money.

And it's uninformed at best to think that gold will rise in value ONLY if there is a chaotic breakdown and chaos. Has he checked the price since 2001? Has he compared it to any other asset class? Has he looked at the money supply figures? Has he heard the numbers tossed around in various bailouts?

It would be one thing if a person could even match real inflation with CD's or bonds, but it's not even close. It hasn't been for years. Gold is simply a store of value that periodically one can do even better on as it comes in and out of favor.

But you go ahead and pay 50 times earnings for some tech or retail stock and let us know how that works out for you.

]]> Mon, 12 Jan 2009 09:34:13 -0500
I'm not a gold "bug", but I don't have time to shoot holes in these weak arguments.

If he'd have bothered to even read a wikipedia article on gold he'd understand more about what makes it different than fiat money.

And it's uninformed at best to think that gold will rise in value ONLY if there is a chaotic breakdown and chaos. Has he checked the price since 2001? Has he compared it to any other asset class? Has he looked at the money supply figures? Has he heard the numbers tossed around in various bailouts?

It would be one thing if a person could even match real inflation with CD's or bonds, but it's not even close. It hasn't been for years. Gold is simply a store of value that periodically one can do even better on as it comes in and out of favor.

But you go ahead and pay 50 times earnings for some tech or retail stock and let us know how that works out for you.

]]> http://seekingalpha.com/article/112612-president-of-euro-pacific-capital-on-gold-and-the-dollar?source=feed#comment-341458 341458
Only if one bought gold in March or late summer of '08 and then sold it did one "lose" anything, and even then one lost far less than if he'd owned US stocks.

Foreign stocks are way down along with the world economies, but if you actually READ Schiff's book he says to buy DIVIDEND PAYING stocks that are fundamentally sound so that you keep collecting the dividend during the downturn. Yes, he was surprised like most of us that the dollar rose in value as the world fled to it. But that has already reversed and the outlook is gloomy for it.

If Peter Schiff is wrong everything will be ok and you still have a job. If Mike Norman is wrong you're unemployed and down another 40% on your investments. You choose.]]> Tue, 30 Dec 2008 11:13:27 -0500
Only if one bought gold in March or late summer of '08 and then sold it did one "lose" anything, and even then one lost far less than if he'd owned US stocks.

Foreign stocks are way down along with the world economies, but if you actually READ Schiff's book he says to buy DIVIDEND PAYING stocks that are fundamentally sound so that you keep collecting the dividend during the downturn. Yes, he was surprised like most of us that the dollar rose in value as the world fled to it. But that has already reversed and the outlook is gloomy for it.

If Peter Schiff is wrong everything will be ok and you still have a job. If Mike Norman is wrong you're unemployed and down another 40% on your investments. You choose.]]> http://seekingalpha.com/article/112186-enlightening-the-gold-bugs?source=feed#comment-338545 338545
Santa Claus says $60T (now $68T) worth of unpayable future promises says you're wrong.

But good luck with those gold shorts. Just please send your daughter to live with relatives and don't make her share the homeless shelter with you.]]> Fri, 26 Dec 2008 08:13:14 -0500
Santa Claus says $60T (now $68T) worth of unpayable future promises says you're wrong.

But good luck with those gold shorts. Just please send your daughter to live with relatives and don't make her share the homeless shelter with you.]]> http://seekingalpha.com/article/112281-the-case-for-higher-interest-rates-and-lower-home-prices?source=feed#comment-338245 338245
Let the market decide the price, interest rate, and down payment requirements. Or have you all led such cushy soft lives that you can't stand the thought of a few years of pain?

Nobody should be raising or lowering rates or home prices. When you fool with market forces they snap back and bite you in the rear end. Too bad they don't teach common sense in business schools. ]]> Thu, 25 Dec 2008 14:20:10 -0500
Let the market decide the price, interest rate, and down payment requirements. Or have you all led such cushy soft lives that you can't stand the thought of a few years of pain?

Nobody should be raising or lowering rates or home prices. When you fool with market forces they snap back and bite you in the rear end. Too bad they don't teach common sense in business schools. ]]> http://seekingalpha.com/article/109582-own-gold-time-to-fold?source=feed#comment-332363 332363

On Dec 16 10:33 AM HPLovecraft wrote:

> I recall the same logic during the recent housing bubble....people
> denying it was a bubble.
>
> Are Treasuries a bigger credit risk than Campbell's soup?
>
> www.thedeal.com/dealsc...
> ]]> Wed, 17 Dec 2008 15:15:30 -0500

On Dec 16 10:33 AM HPLovecraft wrote:

> I recall the same logic during the recent housing bubble....people
> denying it was a bubble.
>
> Are Treasuries a bigger credit risk than Campbell's soup?
>
> www.thedeal.com/dealsc...
> ]]> http://seekingalpha.com/article/109582-own-gold-time-to-fold?source=feed#comment-332356 332356
Meanwhile I see gold was the only major asset class to gain (2%) in the last year to date chart I saw. Even the dollar was down a couple percent. So it's hardly been a loser even if it hasn't soared.

As for predicting its future, let's say you have $150,000 in credit card debt and earn $75,000 a year. You also just borrowed another $150,000 from foreigners and others to lend to your friends and family who are having hard times, based solely on your good reputation. You have also promised to support your parents and children in their retirements but have nothing saved for it.

But you have a legal way to print the money to pay your debts off and fund all these promises. You tell me, are you going to use it or simply default on all your debts and be ruined?

It doesn't take a lot of technical jargon to understand the concept. This is not the first time in history governments have done this. And it's not like there is some great alternative investment you're foregoing by buying things like oil companies and gold.

]]> Wed, 17 Dec 2008 15:05:56 -0500
Meanwhile I see gold was the only major asset class to gain (2%) in the last year to date chart I saw. Even the dollar was down a couple percent. So it's hardly been a loser even if it hasn't soared.

As for predicting its future, let's say you have $150,000 in credit card debt and earn $75,000 a year. You also just borrowed another $150,000 from foreigners and others to lend to your friends and family who are having hard times, based solely on your good reputation. You have also promised to support your parents and children in their retirements but have nothing saved for it.

But you have a legal way to print the money to pay your debts off and fund all these promises. You tell me, are you going to use it or simply default on all your debts and be ruined?

It doesn't take a lot of technical jargon to understand the concept. This is not the first time in history governments have done this. And it's not like there is some great alternative investment you're foregoing by buying things like oil companies and gold.

]]> http://seekingalpha.com/article/111211-dollar-down-gold-up-great-news?source=feed#comment-332311 332311
1. Own tangible assets like gold, (oil, ag commodities, etc) not fiat money.
2. Buy major purchases now so you have "it". Not a terrible idea to buy two of some things and store the 2nd if practical. (buy 2 slightly used cars instead of one)
3. Obtain the biggest fixed rate low interest (currently about 5.75%)mortgage you can on your home located in a rural area away from high crime so that at least that burden goes away in a hyperinflation, as you can pay if off with a week's salary.
4. Guns, ammo for home protection, food and other supplies for times when the distribution network breaks down.
5. Again, buy things that don't spoil now when they're as cheap as they ever will be.

Yes, things will be rough. But if you have no effective house payment, no car payment (or a fixed rate one that also evaporated with hyperinflation) and a newer car that will last you through a 10 year depression, gold in your hands to trade for goods, a properly rotated stock of food and other non-perishable supplies to tide you through disruptions, you'll certainly be better off than 99% of people out there.

Most Weimar Germans did survive. True the "good times" that followed weren't my cup o tea. But assuming we avoid a dictatorship the economy will readjust even if it collapses. ]]> Wed, 17 Dec 2008 14:33:29 -0500
1. Own tangible assets like gold, (oil, ag commodities, etc) not fiat money.
2. Buy major purchases now so you have "it". Not a terrible idea to buy two of some things and store the 2nd if practical. (buy 2 slightly used cars instead of one)
3. Obtain the biggest fixed rate low interest (currently about 5.75%)mortgage you can on your home located in a rural area away from high crime so that at least that burden goes away in a hyperinflation, as you can pay if off with a week's salary.
4. Guns, ammo for home protection, food and other supplies for times when the distribution network breaks down.
5. Again, buy things that don't spoil now when they're as cheap as they ever will be.

Yes, things will be rough. But if you have no effective house payment, no car payment (or a fixed rate one that also evaporated with hyperinflation) and a newer car that will last you through a 10 year depression, gold in your hands to trade for goods, a properly rotated stock of food and other non-perishable supplies to tide you through disruptions, you'll certainly be better off than 99% of people out there.

Most Weimar Germans did survive. True the "good times" that followed weren't my cup o tea. But assuming we avoid a dictatorship the economy will readjust even if it collapses. ]]> http://seekingalpha.com/article/108656-nber-eggheads-finally-proclaim-a-recession?source=feed#comment-318883 318883 Tue, 02 Dec 2008 11:00:22 -0500