Financial topics

[aedens]

I left out August 15th 1971 also when Nixon shut the Gold Window if I remember the date correctly when france called out our Currency on the Vietnam tragedy.
Thats when I clearly understood the debasement of currency and Volkners action in ~1982 to prime rate. Again, thanks for a reasoned approach to trends compiled on your site. Aedens

> There were major panics on Wall Street in 1792, 1819, 1836, 1857,
> 1873, 1893, 1907, 1929, 1987, and now 2008.

There was a very important panic in 1914 that nobody ever seems to
mention.

I discussed in this article:

** Investors commemorate the false panic of Monday, October 19, 1987
** http://www.generationaldynamics.com/cgi ... 19#e071019

The reason that it's important is because it played the same role as
the False Panic of 1987, in convincing investors that there'll never
be another major crash, thus paving the way for the crash of 1929.

There's even a startling parallel between Alan Greenspan, who saved
the financial world in 1987, and Treasury Secretary William G.
McAdoo, who saved the financial world in 1914.

Sincerely,

John

[mark]

I can't believe John today described Obama and McCain as "fine candidates" - these guys are both clueless.

Same track, different train.

[John]

The market is dropping like a stone today. It's quite dramatic to watch:

A steady loss in the Dow of about 100 points per hour.

John

[umoguy]

I'm watching as well, try not to seem so happy about it though. I will say I am happy that I'm 100% in cash right now, but I'm not happy to see all these people lose their retirement savings.

[mosullivan]

We have OIL pbl about to crack into the upper $50s soon.

T-Bills
10% SDS
10% Bullion
__________
Little fiddling req portfolio

[John]

I'm watching as well, try not to seem so happy about it though. I will say I am happy that I'm 100% in cash right now, but I'm not happy to see all these people lose their retirement savings.

I may be fascinated by it, even transfixed by it, but I'm certainly
not happy about it. It's an unmitigated disaster.

By the way, apparently investors must have seen my last posting, because
as soon as I posted it, the Dow started rising again.

Sincerely,

John

[umoguy]

Coal stocks getting hammered. That is not a good sign, coal should be the last resource to drop. JRCC and ARCH coal are still delivering for electricity, so are people really getting so tight that they finally turning off lights, not a good sign at all.

[mosullivan]

There aren't many places to go for growth unless you put a chart upside down (EG Short)

I am more than happy to get off the road here with my boring T Bills, Gld Silver Eagles, and 10% SDS on bounces.

That seems too simple but I really believe it a good formula for the time being.

[John]

A CNBC pundit remark on this morning's calamitous employment report:

> I'm going to end on a positive note. One way to look at this is
> that the availability of credit couldn't get any worse. The banks
> are not lending, so there is only one way to go, and that is up,
> because there is literally nothing going on. And so from that
> perspective this could be, at least from the financial markets,
> this could be the worst of it.

This remark was so off the wall, that even the CNBC anchors laughed.

Sincerely,

John

[umoguy]

Yeah I chuckled at those statements, notice they only seem to say stuff like that on days that the market is going up, it is like they all live in a 24 hour bubble and can only think about what is happening right then.