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golfitobob

golfitobob
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  • Bill McBride, channeling Krugman, is reminded of Wall Street's "dirty little secret": It likes the unemployment rate on the high side. It "keeps wage growth down, and helps with margins and earnings - and higher unemployment also keeps the Fed on the sidelines... a slowly declining unemployment rate (even at 9%) with some job growth is considered OK."  [View news story]
    Krugman..........that says it all ! No !
    Einstein said insanity is listening to Prof. Krugman over an over an expecting real logic.............

    Maybe we could surrender to Saudi Arabia and we can all go on the dole.........
    May 6, 2011. 07:53 PM | 2 Likes Like |Link to Comment
  • April Job Growth Improves as Jobless Rate Ticks Up [View article]
    Jobs jobs jobs......... Are the numbers real. My question is since the numbers are calculated against a multi decade workforce low is the 9% number real ? I think not ! During Mr Bush's romp we needed 400,000 to keep up with par. Now the experts are looking us right in the camera and saying 200,000 will do it slowly ,but, 248,000 WOW. .

    To quote the top REP in the USA "chicken crap"

    I look at Gallup. There not selling stock or trying to sell add time on business channels. It may just be me ,but, CNBC an Bloomberg are cheerleaders for a certain party and the business experts on Fox see the business world in a different color.......

    Gallup is at 9.4 % an 19.6 % @ under employed..........

    The 7 million jobs we lost will never come back. Nor should they. The US workforce needs the skill set for today's world and we don't have it. The truth is that the US has be living beyond our means for almost 7 decades and the so called engine for new jobs is small business. Truthfully, small businesses create small paying jobs and heads of households can't survive on that income.

    As for the few real experts that will tell the truth ,only inflation can save the US......Professor Ferguson says it like it is, but, what would the world look like then. 120 trillion for an Ipod. 2 trillion for a Big Mack combo.......

    Maybe we should let Trump run the country an take us into bankruptcy like he does with most of his endeavors. Then the US could pay domestic bond holders 100 % and screw the foreign holders at 5%.......... The Supreme Court let Obama do it to the car bondholders ! No ?!

    We should do it now while we still have the worlds most powerful army... China ; Russia , Saudi Arabia, and the Japanese wouldn't be happy ,but, they would get over it in a century or too.

    chao, Golfitobob
    May 6, 2011. 02:29 PM | 1 Like Like |Link to Comment
  • Get Ready for $30 Silver [View article]
    I am new to this site ,but, at 56 I have been around the market as a way of life starting at age 7....... Having a Jewish dad it was not tee baseball or pop Warner football. It was a chair in Gruntal brokers an learn the symbols......

    Silver.......... the last time it hit 50 I hopped on my bike an sold my coin collection. Last Thursday when it hit 50 I sold SLV and the wife an I hit the Pawn shops in David , Panama where we live and sold a bunch..

    Why........... For 3 solid weeks the shorting was huge ! 300 basis points above the normal cost.There was panik trying to borrow the SLV ! Any silver bull who didn't see that was a fool.. Yes HSBC an JP are not nice fellows and to all those experts who point to periods of time telling of the relationship between gold an silver I will just say to me this is the year 5771 an not 2011. It is a G-d thingee.

    As I have written elsewhere on the SLV article that silver an gold are the only true money and Mr. Nixon is the one who turned the world into a giant fiat ponzi scheme....... I will buy back my silver starting Monday and to all those who want to know the true ratio between gold an silver.............. 5500 years says 16 !!!!!!!

    Silver easily can make 50 look CHEAP.....
    The next time it will crash through 50.

    pura vida, Bob Shakerdge
    May 5, 2011. 09:37 PM | 9 Likes Like |Link to Comment
  • Silver Swoons [View article]
    Well, I see there are many different opinions ,but, only two directions ! Up or down. Lots of good accurate comments here and to sum them up. Yes, central banks are buying as there faith in the world currency a/k/a the US dollar is tanking. I count 31 countries with China ; Russia, Brazil, buying huge amounts And, 27 more. I also see problems in Peru the largest silver producer.

    However, when the worlds richest dude Mr. Slim takes a major short position on silver and Glenn Beck's best friend Georgey Sorros sells a massive position in the metals in April. All must wonder.........

    I was planning on buying at 36 after selling at 49 spot ,but, I will watch now. Silver is going to go higher and break through 50, but when is the 51 dollar question........ Why !

    It goes like this............ I being Jewish don't live in 2011... I live in 5771 and looking at real money for 5000 years I see only gold an silver.Mr Nixon turned the world on to paper....... He actually destroyed the world without knowing it....................... Someday !

    Maybe when the Yuan enters the SDR basket ! That could be MUCH sooner then the experts think ! Much sooner as China an the brick countries want it NOW.

    Not living in the US I see that many countries are dealing directly without converting ti the dollar. I have written the President of Costa Rica begging her to ask our trading partners to deal direct. I am sure China will an Europe too if she had her peoples back....... Screw the drug lords .

    The 5000 year ratio between the two is 16......... There are many; many many opinions as to the ratio an you can pick tiny segments of time to validate your divisors ,but, history is history.

    So the only question is time. And, time is the only thing you can't replace. New friends : new wife, new car , new heart ,kidney ,arm or leg ,but, NOT TIME...........

    So, life is a gamble ,so I will start buying at $ 33 spot down from 36 and look for private sellers. I like the real stuff as the ETFs are selling paper. I don't trust them and last week the pawn shops were fighting when we went to sell .Sir come next door. We can do a little better.......... Now there discounting to sell ...........SMILE

    Shop carefully........ An educated consumer always finds such a deal............. pura vida as they say down here........... Bob Shakerdge
    May 5, 2011. 09:02 AM | 1 Like Like |Link to Comment
  • Geithner urges China to move faster on currency [View article]
    Sec Geitner should stick to helping us do our taxes. This way rates don't need to come down. He is probably the Sec of Treasury because he speaks Chinese and he doesn't have to worry about a translator leaking info, but, the Chinese made it clear they would let the Yuan get stronger and had a bunch of US Senators not been in China it would have been done already. They didn't want to look as if they were reacting to pressure. If you see the new ETFs springing up to track the Yuan with Chinese blessings the US better be careful what they wish for because the stronger Yuan will not help the US but hurt it and push inflation higher an faster.

    China has been the scapegoat for decades and when Reps an Dems agree on something WATCHOUT.... When Sec Rubin was there the Yuan was 20% to 40% undervalued. It has moved almost that much and economists are back to the same cry.

    China is not a true manufacturer. There more of an assembler as they import 75% of the stuff they assemble and ship to the US, so, they will buy the goods for less money with stronger Yuan and sell at a higher price to the Walmarts an others ,but, they will still be to cheap for us to compete. A win / win for them and another dig to US.

    The Yuan will be in the SDR basket in 2011 not 2031 as all the bullshitologists are predicting and to listen to Sec J Baker last week " we are Greece if the dollar isn't the world currency "

    As my handle says it all. Golfitobob. Golfito is a small town near the border of Panama. Panamabob was taken ,but, living outside the US has the benefits beyond belief. CD rates at 14% ( down from 16%) an a rag tag colone that has gained 18% against the US dollar giving a 30% + yield without a care. And, on the Panama side buying a nice lunch for the wife an myself for $ 3.80......... Yep enjoy the good old upper USA........
    May 4, 2011. 12:00 PM | Likes Like |Link to Comment
  • Silver Swoons [View article]
    Well, something had to be done. All the ETFs make the metal much more volatile and the group was a few hundred million ounces short of the shares they represented. The price had to be whacked or the price would have exploded higher an HSBC an JP Morgan would have been destroyed...... We sold when silver hit 49.. 36 an we buy again........... bueno suerte, Bob
    May 4, 2011. 03:07 AM | 6 Likes Like |Link to Comment
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