Even on days like these, there is some good news

mame

mame

Well-Known Member
Interest rates remain low, primarily because the money leaving the stock market is moving into safe havens like Treasury Bonds and gold. The important takeaway here is that fiscal stimulus remains an option and should really start looking attractive to lawmakers at 2.4% on treasury bonds (likely to get even lower, too).

Speaking of gold, how are the commodities doing? Crude oil is down ($81 ATM), Corn, wheat, etc all down... In fact, the only commodity outside of Gold that's up that I see is Cotton, up slightly.

Crude oil is the big one, because lower gas prices means higher Aggregate demand.. If they hold below $85 for a sustained period that can help the economy a quite a bit.

So it's not all bad, especially for you gold bugs.
 
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NoDrama

Well-Known Member
Silver is up some too. Platinum is almost on par with gold right now. might look into a small position in Plat. Seems oversold. The price of my gold going up does not make me happy one bit. All it means is that the country I am living in is doing worse. Now think of all those 401K people who are losing money by the millions, most of them have no idea how to move money around in them. I know my dad has lost at least $100k in the last week. I stopped out all my stocks on July 25th and suggested he do the same, he never listens to me though. Even after I show him that if he had taken my advice three years ago, he would have $12 million set aside right now instead of the measly $1.25 mil he has. He will probably ask me for advice after he has nothing left.
 
mame

mame

Well-Known Member
Yeah I feel for those 401k's... in the last few trading days we've seen what, over a year's gains wiped away?
 
UncleBuck

UncleBuck

Well-Known Member
i nearly made a banker dude at chase cry today, so that's good news.

i wasn't even mean and nasty, either. just unrelenting.
 
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NoDrama

Well-Known Member
UncleBuck said:
i nearly made a banker dude at chase cry today, so that's good news.

i wasn't even mean and nasty, either. just unrelenting.
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That is wonderful news. The Banks should have special rooms like theaters did back in the day where you could cry so others wouldn't hear you(Or perhaps your screaming child). It seems there would be a good deal of use for them in todays market.
 
Charlie Ventura

Charlie Ventura

Active Member
The Tsunami is coming in 2012. Obama will be another Mondale ... with the loss of 49 states. California and Hawaii will be the exceptions.

And on the price of gold: Isn't that an embarrassment to those who espouse Keynesian monetary theory?
 
UncleBuck

UncleBuck

Well-Known Member
NoDrama said:
That is wonderful news. The Banks should have special rooms like theaters did back in the day where you could cry so others wouldn't hear you(Or perhaps your screaming child). It seems there would be a good deal of use for them in todays market.
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they charged me $10 a month service fees on an account i had not used in 3 months. this overdrafted my account.

i explained that in the 3 years i banked with them, i had never incurred an overdraft and to please reverse it. he said i had an overdraft back in april. i asked if i really had an overdraft. he said yes. i asked him again, he confirmed again. i asked if it wasn't another one of those awesome "service fees" rather than an overdraft. he acknowledged it was a service fee. i asked him why he thought it necessary to lie to me. no response besides "let me ask my manager if we can reverse these fees".

he came back and said he had reversed them, but then wanted me to pay for the service fees. i told him that if he gave me a haircut or mowed my lawn, i would pay the service fee. he went back to the manager and said he got them reversed.

i asked him if he had any power whatsoever to make decisions, or if he was just an empty suit. he did not like that.

i proceeded to close the account while reminiscing about the good ol' days of banking when banks actually appreciated their customers. i refused to shake his hand when he put it out at the end and told him "you're welcome for us taxpayers covering your company's poor decisions" (i was a taxpayer back when the bailout happened).

that man was so slumped over at that point i felt bad for him. but not really.
 
Charlie Ventura

Charlie Ventura

Active Member
UncleBuck said:
they charged me $10 a month service fees on an account i had not used in 3 months. this overdrafted my account.

i explained that in the 3 years i banked with them, i had never incurred an overdraft and to please reverse it. he said i had an overdraft back in april. i asked if i really had an overdraft. he said yes. i asked him again, he confirmed again. i asked if it wasn't another one of those awesome "service fees" rather than an overdraft. he acknowledged it was a service fee. i asked him why he thought it necessary to lie to me. no response besides "let me ask my manager if we can reverse these fees".

he came back and said he had reversed them, but then wanted me to pay for the service fees. i told him that if he gave me a haircut or mowed my lawn, i would pay the service fee. he went back to the manager and said he got them reversed.

i asked him if he had any power whatsoever to make decisions, or if he was just an empty suit. he did not like that.

i proceeded to close the account while reminiscing about the good ol' days of banking when banks actually appreciated their customers. i refused to shake his hand when he put it out at the end and told him "you're welcome for us taxpayers covering your company's poor decisions" (i was a taxpayer back when the bailout happened).

that man was so slumped over at that point i felt bad for him. but not really.
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Wow! That was great UncleBuck.

Now, just replace Obama in the above accounting and you have exactly what us small government types feel. Tell me you're not voting for Obama in 2012.
 
mame

mame

Well-Known Member
And on the price of gold: Isn't that an embarrassment to those who espouse Keynesian monetary theory?
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No, not at all. Investors are seeking a safe place to park their money and Gold as well as bonds meet that description; It doesn't matter how you view gold, whether as an asset or as a currency, what matters to investors is it's performance and the nominal price of Gold always trends up.
 
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NoDrama

Well-Known Member
What matters to wealthy investors is dividends. You don't get shit for dividends with gold. Wealthy people live off their dividends from all the millions of stock they own, less than 2% of all investment money goes into gold and less than .5% (Point five) goes into Silver. It won't take much to push gold to multiples of thousands.
 
Charlie Ventura

Charlie Ventura

Active Member
mame said:
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No, not at all. Investors are seeking a safe place to park their money and Gold as well as bonds meet that description; It doesn't matter how you view gold, whether as an asset or as a currency, what matters to investors is it's performance and the nominal price of Gold always trends up.
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So then. the devaluing of the dollar is not an embarrassment to the followers of Keynes? What has Keynesian theory done to Grandma who lives on Social Security and has a small savings account in the bank?
 
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