Asset Bubble set to burst: Collapse of Economy expected

S. Lindsey's picture

“A year after the collapse of home values triggered the financial crisis and Great Recession, another rapid and irrational rise in the price of assets — whether stocks, home values, oil or something else — would seem unlikely. After all, major bubbles through history have been spaced decades, if not centuries, apart.”

“Today, though, amid the wreckage of the last bubble, the ingredients for the next are still with us. The price of gold spiking to its highest level ever — $1,060 an ounce on Thursday — is one warning sign, as is the 67 percent surge since March in the Nasdaq Stock Market index.” The Associated Press (Another Bogus Website)

Why have we not seen headlines shouting that CHINA our “BANKER” the holder of our debt told Obama that the Healthcare takeover is too expensive for America?

Our National debt is going to hit 14.4 TRILLION this year.. but that is not the REAL debt.. it is actually 106.5 TRILLION if you include all of the unfunded mandates from Congress.

We export almost nothing now compared to what we import. We don’t have the resources to pay the debt down..

Did you know if the Government took 100% of the PROFITS from the Fortune 500 companies it would only total 98 Billion dollars. Not even close.

This administration is collapsing this Country. We are moving towards a One World Government and economy. The problem we will have to lower our standards of living to meet Europe.. Oh well.. I enjoyed vacations while they lasted..

Asset Bubble ready to burst.. Link

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Submitted by dontmakemesay on Thu, 11/19/2009 - 9:13pm.

Mr Lindsey what is your background that gives you such an unshakebale knowledge of politics? Are these insights from wisdom, boredom, or stupidity?

The Wedge's picture
Submitted by The Wedge on Fri, 11/20/2009 - 1:26pm.

I see your comments concerning the Board of Education, about Smola, and others in the Fayette County education system. Do you have any background that would allow you to make comments?
What about your comments on insurance and coverage?
Are you a master of all that you comment upon?
Where do your insights come from? wisdom, stupidity, or boredom?


Submitted by dontmakemesay on Fri, 11/20/2009 - 4:07pm.

than you and I don't believe in nepotism. If I had just one it would be more than you.

Get Smart's picture
Submitted by Get Smart on Fri, 11/20/2009 - 6:23pm.

You know those that boast about their education on a forum like this are typically "little" people with inflated egos. You better stay away from needles as they tend to pop things if you know what I mean.


The Wedge's picture
Submitted by The Wedge on Fri, 11/20/2009 - 5:22pm.

I am so very impressed. What do you do to utilize your vast wealth of education? Have you attended the finest schools? Do you breathe the rarified air of the elite? Please share your background so that you can be justified in your snobbery with regard to school matters. If your school has a greater than 10% acceptance rate, then it wasn't that special. Now, was it? Man up there, snob.


S. Lindsey's picture
Submitted by S. Lindsey on Fri, 11/20/2009 - 4:33pm.

Someone thinks alot of themselves. Just what are your "multiple degrees" in?
What was your field of study? Where did you do to College? Just curious.. When are going to share that wealth of knowledge with us on the issues. I mean really we get a tingle with anticipation waiting for you to guide us out of the backwoods.. Oh do please hurry.

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


Submitted by dontmakemesay on Fri, 11/20/2009 - 5:06pm.

Mr Lindsey what is your background that gives you such an unshakeable knowledge of politics? Are these insights from wisdom, boredom, or stupidity?

The reason for the question is your arrogance.

Cyclist's picture
Submitted by Cyclist on Fri, 11/20/2009 - 6:12pm.

why do you need to know?

-------------------------------------------
Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


The Wedge's picture
Submitted by The Wedge on Fri, 11/20/2009 - 9:19pm.

because he feels the need to feel superior. Perhaps this personal failing is a compensation for some other defect. Perhaps stature-now you have met me, Cyclist so you know that I cannot tower over anyone-perhaps a lonely childhood, perhaps an insuffiency of manhood. Who knows, but more importantly, who really cares.... Eye-wink


Submitted by Bonkers on Fri, 11/20/2009 - 4:58pm.

I personally studied in a corn "field" when I was young. It was at Southern Appalachia Correspondence School.
Then I went and got a advance degre from LaSalley by USPS.
That however was in a soy bean field.
The onlinest "back woods" field I studied within was in a hillside field in "The Breaks," Kentucky. (it exists, look it up)

I do also have several "honorary" degres from various welding and plumbing schools. The PhP and the PhW degrees make more money then the others.
They only cost a few hundered each!

Many of them so-called professional degree people worked for me quite a bit. Somewhat like professional rasslers.

The vary best skill to have though is a NROTC in war science from SC Farming and Bug University---then Ossifer schol, then lt. to lt. colonel fer 20 yars.
Soecialize in back-base communications and truck drivin.

Submitted by dontmakemesay on Fri, 11/20/2009 - 5:15pm.

No reference to degrees would be made but for his arrogance and demeaning air to everyone including you Bonkers.

MajorMike's picture
Submitted by MajorMike on Fri, 11/20/2009 - 12:37pm.

You have a serious case of "kill the messenger". See your doctor soon!


S. Lindsey's picture
Submitted by S. Lindsey on Fri, 11/20/2009 - 9:36am.

Just do a little reading.. Do your own work.. I have..

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


Submitted by Bonkers on Thu, 11/19/2009 - 11:45am.

It is simply amazing how one man can foul up our country and go into debt 100 Trillion dollars in just a few months!

I suggest impeachment and let Joe have it for a few months!

Maybe if we elect Palin and Huckabee next time they can eliminate all of this in a few months? Ya reckon? Jest stop them aborts and make everone evangelistic Christians---thet ought to do hit!

Submitted by Bonkers on Thu, 11/19/2009 - 11:45am.

It is simply amazing how one man can foul up our country and go into debt 100 Trillion dollars in just a few months!

I suggest impeachment and let Joe have it for a few months!

Maybe if we elect Palin and Huckabee next time they can eliminate all of this in a few months? Ya reckon? Jest stop them aborts and make everone evangelistic Christians---thet ought to do hit!

Submitted by Davids mom on Thu, 11/19/2009 - 9:50am.

. . but what do you think?

JeffC's picture
Submitted by JeffC on Thu, 11/19/2009 - 1:04am.

The profit figure of $98 billion you cite includes the extraordinary devastation of the financial industry caused by the mismanagement of the previous administration; the worst figures since 1955. In 2007, the Fortune 500's profit were a healthy $645 billion and this year will show a nice recovery. And the monthly trade deficit is now below what it was when the Bush administration left by almost 18% and is only half of what it peaked at under Bush in June 2008, during which time I missed your concern.

The economy is following it's 100 year pattern of recovering from Republican administration recessions and surging under the Democrats. The overall economic recovery will be in full swing in time to contribute to Obama's overwhelming re-election against the pathetic Huckabee/Palin ticket the R's are now salivating over. Huckabee who doesn't understand the FairTax he supports and Palin who doesn't understand anything they tell her to support? Obama may not even have to campaign. Plus, my ACORN guys have seemingly outperformed y'alls Diebold guys rigging of the voting machines.

The next one is over already. Want to just move on and start discussing 2016? By then, the Republican fight will be between Palin's daughter, who proved her party bona fides by not having an abortion thus qualifying her, like her mom, to be President, and Megan McCain.


Submitted by The Shadow on Thu, 11/19/2009 - 11:20pm.

Says economy is following 100 year pattern of recovering from Republican recessions and surging under Democrats. Well, since I majored in history I’d have to say that is not a true statement.
From 1932-1945 FDR the Democrat governed over the worst depression in US history. When Truman the Democrat took over in 1945, the economy was still in recession with high unemployment until Eisenhower the Republican came into office in 1952. Throughout the decade of the 50’s the economy was the most stable in the America’s history, hence the “fabulous 50’s”. The dollar maintained its buying power for a decade.
Democrats took over in 1961 ending the good times of the 50’s. Throughout the LBJ Democratic administration of the 60’s, the government started spending on all those social programs of the “Great Society”. By the time Nixon a Republican came into office the Democrats had spent so much money Nixon was forced to remove the US from the gold standard and fight the resulting inflation.
Then came the Democrat Jimmy Carter in ’77 and interest rates went to 21%, gold to $850 oz and the recession was on again. Reagan stabilized the economy of the 80’s. After Bush Sr. both Republicans and Democrats went on wild spending orgies increasing the yearly deficit under Clinton from $212 Billion to 2 Trillion under Bush Jr. and Obama. Just the opposite of what JeffC said.

JeffC's picture
Submitted by JeffC on Fri, 11/20/2009 - 12:25am.

Go back and post real numbers by administration for that 100 years instead of narrative. The Dems are overwhelmingly better on GDP growth, job growth and especially the stock market. The numbers can be avoided but not refuted.


S. Lindsey's picture
Submitted by S. Lindsey on Fri, 11/20/2009 - 8:27am.

Shadow made his argument.. but yet you want Shadow to make the argument against his/her own argument?

Jeff.. the Dems are what they are.. LIBERALS.. this crop are PROGRESSIVE LIBERALS.. TAX AND SPEND Democrats.. You guys
have tried to tax and spend yourselves to glory for a Generation..

It will end in 2010..

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


JeffC's picture
Submitted by JeffC on Fri, 11/20/2009 - 10:16am.

Here are a few numbers.

Gross Domestic Product Growth Annualized %

Johnson: 5.43
Kennedy: 4.93
Clinton: 3.58
Carter 3.42
Reagan: 3.37
Ford: 2.75
Nixon: 2.68
Eisenhower: 2.27
Truman: 1.99
Bush 41: 1.90

Republican average: 2.594
Democratic average: 3.862

Growth Real Disposable Personal Income Annualized

Johnson: 5.56
Kennedy: 3.89
Nixon: 3.77
Reagan: 3.68
Clinton: 3.49
Ford: 3.29
Eisenhower: 3.26
Carter: 2.93
Truman: 2.83
Bush 41: 1.39

Republican average: 3.07
Democratic average: 3.74

Employment Gain Per Year (1000s)

Carter: 2506
Clinton: 2260
Reagan: 2094
Nixon: 1827
Johnson: 1674
Ford: 1204
Truman: 1125
Kennedy: 858
Eisenhower: 522
Bush 41: 749

I'll post more later. I've got to work right now so that I can make some money for the government to confiscate so the slackers can eat.

Have a good weekend and thanks to everybody for the predictions.


S. Lindsey's picture
Submitted by S. Lindsey on Thu, 11/19/2009 - 4:45pm.

To quote one of your infamous politicians.. On which planet do you live?

"Click around Fortune.com. It’s a rich trove of facts and stats–a window into the depressing economic condition of the U.S. The most dismal news: Overall profits of Fortune 500 companies cratered to $98.9 billion from $645 billion in 2007." Fortune Mag

So you were saying how great things are Jeff and how bad things were under Bush?

There is no concern.. Just a point.. Which you obviously cared to gloss over.. The POINT? WE CAN"T PAY THE DEBT.. PERIOD.

Oh and how did the Economy go under dad? In a word BAD.. Remember the "Misery index" oh that was Bush's fault too I guess.. What was the Inflation rates? Interest rates?

Don't pee on our shoes and tell us it is raining.. you can claim Dems are the savours of the world most of us know better.. and in 2010 we are going to show you.

btw.. the Palin remark.. typical Liberal crap from you Jeff.. attack a child way to go.. Low even for you.

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


JeffC's picture
Submitted by JeffC on Fri, 11/20/2009 - 12:07am.

Bush's budget crossed the $10 trillion with token commentary from the Rs and now that Obama has been in for almost a year it's the end of the world. The Party of the Apocalypse! Look back at this blog and read the predictions the Rs put forth when the market was in the 7000's. Same thing, absolutely wrong.

You complained about the trade deficit under Obama, which I pointed out is 18% less than when he took office and down 50% since the Bush peak. An almost spectacular success if it can be maintained.

Why tell me to click around on Fortune.com? I posted those statistics before you did. They are a direct result of the Bush wreckage and are significantly improving under Obama. Another success if it can be maintained, and I strongly suspect it will be.

The right likes to pretend that history started the day Obama took office. Look at Obama's deficit! Oh my, look at Obama's trade imbalance!

The economy outperforms under Democrats 80% of the time and has since the late 1880's. That's indisputable. The Ds are better on job growth, GDP growth and since 1902 the stock market has advanced nine times as much under Democrats than Republicans.

As for Palin, well, boo hoo. The fact that the Rs are rallying behind such a totally unqualified candidate who spent months demonstrating her ignorance on every single issue her handlers let her answer is indicative of the depths the Party has sunk to. You're rallying around someone who was utterly befuddled when asked what magazines and newspapers she read. She only needed the one qualification that she had to become the darling of the social right and we both know what that single qualification was.

I have no idea what you're expecting in 2010, It looks to me like a few Democratic losses but less than average for an off year election. Would you like to make your prediction here, a year in advance?


S. Lindsey's picture
Submitted by S. Lindsey on Fri, 11/20/2009 - 9:34am.

“Bush's budget crossed the $10 trillion with token commentary from the Rs and now that Obama has been in for almost a year it's the end of the world. The Party of the Apocalypse! Look back at this blog and read the predictions the Rs put forth when the market was in the 7000's. Same thing, absolutely wrong.”

And just where do you think the “Tea partiers” came from Jeff.. The Conservatives have been screaming for years.. We stopped Bush on the Amnesty Bill and we tried to stop him on the Spending that the “R”s AND Dem’s where doing..

The problem we had no help from you guys. You wanted to spend us here.. Well here we all are.

“You complained about the trade deficit under Obama, which I pointed out is 18% less than when he took office and down 50% since the Bush peak. An almost spectacular success if it can be maintained.”

Think you need to check on this one.. I have never said anything on Obama’s Trade Deficit.. What I said was:

“We export almost nothing now compared to what we import. We don’t have the resources to pay the debt down.. “

We don’t export anymore. We have become a Consumer driven economy.. When all we do is BUY and not SELL then it becomes obvious we don’t have the funds to PAY DOWN THE DEBT..

Why tell me to click around on Fortune.com? I posted those statistics before you did. They are a direct result of the Bush wreckage and are significantly improving under Obama. Another success if it can be maintained, and I strongly suspect it will be.

Uhh.. that was from the Website I didn’t say it.. did you even follow the link?

The right likes to pretend that history started the day Obama took office. Look at Obama's deficit! Oh my, look at Obama's trade imbalance!

Jeff.. be a little honest here.. Are you for all of this massive spending.. We are topping $14 TRILLION
dollars in debt.. in 15 years according to the CBO we will top $25 Trillion and THAT DOES NOT INCLUDE Universal Healthcare COST. Which ANY SANE person knows that it will go the way of Medicare.. It’s cost will be astronomical.. Much more then predicted.. AND WILL NEVER BE REVENUE NEUTRAL.

The economy outperforms under Democrats 80% of the time and has since the late 1880's. That's indisputable. The Ds are better on job growth, GDP growth and since 1902 the stock market has advanced nine times as much under Democrats than Republicans.

I refer you to SHADOWS post.. He/She is correct. You are simply wrong.

As for Palin, well, boo hoo. The fact that the Rs are rallying behind such a totally unqualified candidate who spent months demonstrating her ignorance on every single issue her handlers let her answer is indicative of the depths the Party has sunk to. You're rallying around someone who was utterly befuddled when asked what magazines and newspapers she read. She only needed the one qualification that she had to become the darling of the social right and we both know what that single qualification was.

Oh you mean like the Dems rallied around another Unqualified Candidate like Obama?
She has a National Best Seller.. and Obama has what? A Nobel PEACE prize that was given for some vague FUTURE promise? The same prize that was given to Arafat.. a known TERRORIST.. Meaningless.

I have no idea what you're expecting in 2010, It looks to me like a few Democratic losses but less than average for an off year election. Would you like to make your prediction here, a year in advance?

Oh yes.. You guys will lose the Majority. Period.

If the UHC passes and then Cap and Trade.. You will be done for a GENERATION at best.

The Majority of America at least the TAXPAYING ones are against all of this spending and Government intrusion into our lives.. and it will not STAND.
The Dems are crashing the Dollar intentionally and intends to crash our Healthcare system. Radicals now run Congress and the Whitehouse.. We know who they are and so do you.

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


The Wedge's picture
Submitted by The Wedge on Thu, 11/19/2009 - 1:28am.

I don't see it Jeff. I see massive spending that isn't going to stop. I see a push for even more spending. Even if the CBO sells their souls to show that the Healthcare plan will be revenue neutral, I don't see the economy surging in 2012. I see the second hump of a recession. Triggered by a falling dollar (look at gas pump prices, the rise is currency) I see things getting bleak indeed. And I heard a figure that astounds me. 53% of all americans receive a month check from the government. Can you debunk that one? I hope so because if we are over the 50%, we will vote ourselves into bankruptcy. And please, let's just go ahead and call a new constitutional convention. We are not following our old one and we should drop all pretense.

And I am in California, what is your excuse for this late hour?u


JeffC's picture
Submitted by JeffC on Thu, 11/19/2009 - 1:02pm.

All the trends seem to be going in the right direction. Housing starts are increasing, although last month wasn't very good. The rate of unemployment increases is slowing and should turn positive next year. Almost all leading indicator are positive:

The Conference Board Leading Economic Index

The stock market has recovered, probably too much; I'd expect a pullback, but the trend is certainly in the right direction. The recession is already longer than the historical average, an indicator that the end should be approaching.

Obama hasn't been in office year yet. Give the economy another year to recover and then two years of growth and the 2012 election is going to be about how his administration saved the economy and how everybody should remember what a mess the Republicans left him. Plus, they're going to be recalling all of the doom and gloom predictions by virtually all of the Republicans about how he was going to destroy the economy, which is not happening, as proof that the Republicans were wrong and can't be trusted with the recovery. Throw in the unanimous Republican votes against his economic proposals and characterize them as obstructionists and his campaign platform will be looking good.

As to the 53% of Americans getting a monthly government check, I heard Hannity talking about it. It's just bunk they made up and it has no basis in fact.


Joe Kawfi's picture
Submitted by Joe Kawfi on Thu, 11/19/2009 - 1:30pm.

Are you completely delusional Jeff? Obama said that if government debt were to pile up too much, it could lead to a double-dip recession.

Meanwhile, they continue to spend, spend, spend with no end in sight. Reid's 2000+ page health care debacle will be the icing on the cake.

Look for many, many democrat seats to be lost in 2010, and a 2012 defeat for Obama. He is just too immature and unqualified for this job. You might say it's above his pay grade.

Heck, he's so incompetent that his latest statement condeming KSM to death before the trial may get KSM freed.

"I don't think it will be offensive at all when he's convicted and when the death penalty is applied to him," Obama told NBC's Chuck Todd.

LIBERALISM: The triumph of mindless, wishful thinking over logic, reason, and experience.


JeffC's picture
Submitted by JeffC on Fri, 11/20/2009 - 12:35am.

I'm asking for predictions here from everybody about 2010. Obama's a shoe-in for 2012, the dems will lose a few (and that is not a bad thing, there needs to be more balance) but less than the average for an off year election, and Obama's statement is not going to get KSM freed. Those are my predictions. Y'all can point back to them in a year if I'm wrong.


Submitted by The Shadow on Fri, 11/20/2009 - 5:49pm.

1. Gold will reach $1500 per oz.
2. The Dollar will continue to decline in value
3. A new common currency called the Amero will be secretly set up for the US, Mexico & Canada. Similar to the Euro.
4. SE Asian economies will grow 4-5 times more than US
5. The US will become China’s puppet
6. The Yuan will take the dollar’s place as the world’s reserve currency.
7. Foreign Sovereign Wealth Funds will buy up most of the world’s natural resources like gold, copper, oil and other minerals. The bankrupt US will not be able to compete.
8. An attempt will be made to assassinate Obama
9. Unemployment will rise from current 17.5% to 22% real figures, not the bogus stats put out by the Federal Gov.
10. 2010 will be the beginning of a new 500 yr world mega trend. A major turning point in history where mineral rich former 3rd world countries will become wealthy world leaders. While Western democracies struggle with their deficits, diversity and enter into 3rd world status.

Submitted by Bonkers on Fri, 11/20/2009 - 4:11am.

Both wars will be over and done. We will be posted there in a conclave as in Korea, Germany, etc.

GITMO will be gone and accidentally burned to the ground.

Newt won't be nominated.

Palin won't be nominated.

Lieberman will convert to a democrat again.

Some of the democrats who voted against the health plan will be defeated.

Unemployment will be at least 8%. Where are we going to get millions of jobs by then?

The draft will be reconsidered.

All current 3-4 star Generals will be retired.

Several hundred more "banks" will be gone.

We will start burning all of the damaged, foreclosed homes in large sub-divisions. Habitat might rebuild some of them.

We might begin to manufacture a few things that we now buy overseas.

A Mars trip will be planned and will cause the invention of a better cell phone for us. Maybe even a wrist radio as Tick Dracy had!

Madonna will put on a USA goodbye tour with Brittany and the Stones.

Puerto Rico will move to Los Angeles County. Mexico will open their borders to us.

The U.N. will move to Puerto Rico.

The ACLU will become a Christian law firm.

Most of the TV evangelists will have retired to their horse farms.

Jimmy Carter and Bill Clinton will be added to Mount Rushmore.

The Bushs, Reagan, Nixon, Hoover, Harding, and Rush faces will be started on top of Stone Mountain, GA.

All LA and MS people on the beach when the levies broke will be made millionaires just as the 911 widows were. N.O. will be rebuilt then.

We will wipe out the federal debt by going on the Zinc standard.

Robert W. Morgan's picture
Submitted by Robert W. Morgan on Fri, 11/20/2009 - 7:24am.

I must say you have the most opaque Democrat rose-colored glasses with which you view the world. Classic liberal snobbishness.

I have predictions for you, jeffc and you need to save these and check in next year and see where we are.

By the end of next year, the headlines will be:

Senate - 54% Republican majority
House - 60% Republican majority (you can quibble over the exact numbers, but you get the idea)
New Senator from Nevada - Reid joins Daschle's lobbying firm
Barbara Boxer beaten by a Republican in California, of all places
Nancy Pelosi reelected, of course, but by a slim margin
Sarah Palin says no to Presidency, but is named Republican Party Chair - jeffc and other hopeless libs take big sigh of relief - fear is over.
Newt has still not announced, but leads Obama in all the polls (except CNN's) by 10 points
Hillary can't help herself, she's resigned to run for Governor of NY. She hasn't announced for President either but she too leads Obama in the polls, but by 20%
Liberal's use of the catch phrase "Yea, but what about George Bush" down 40%

All of this begins to happen as a result of this stupid health care/power grab bill that will be voted on Saturday in the Senate. I believe it will not pass by a small margin with some surprising opposition from Dems with spine - and a survival instinct. The chick from Louisiana won't be among them, however, she's been bought for $100 million.

The other event that will swing the pendulum he other way towards sane adult leadership of this country will be Holder's resignation after a credible terrorist threat is uncovered in NY (hopefully before the explosion this time) and Guantanamo is reopened. There was great wisdom in putting the terrorists there in the first place. Security from terrorists and liberal weenies - both equally dangerous to US security as we have seen demonstrated by our current "leadership".


suggarfoot's picture
Submitted by suggarfoot on Fri, 11/20/2009 - 7:15am.

I really liked the MS people one...

"All LA and MS people on the beach when the levies broke will be made millionaires just as the 911 widows were. N.O. will be rebuilt then."


Submitted by Citizen_Steve on Thu, 11/19/2009 - 1:23pm.

the 2012 election is going to be about how his administration saved the economy

When you cease to dream you cease to live.

JeffC's picture
Submitted by JeffC on Sun, 11/22/2009 - 9:42pm.

That's my prediction for what the Obama campaign is going to be saying not my personal opinion.


Submitted by The Shadow on Wed, 11/18/2009 - 11:49pm.

I now fully understand the message of Rumpelstiltskin in my childhood fairytale books. The King (government) wanted a poor girl to spin straw into gold otherwise she would be executed. A Dwarf named Rumpelstiltskin appeared and saved her life by helping her spin the straw into gold.
The modern day fairy tale has the President and Congress demanding the Treasury Department turn paper into gold. But just as the dwarf exploded and disappeared so will the dollar and the US government. It now takes $1150 to equal 1 oz of gold. Just 8 years ago $250 equaled 1 oz.
The shame of it all is that every citizen will lose their savings, retirement and other assets. Because the voters didn’t pay attention to the spending of their politicians, nor are they buying gold to protect their assets. You think that President Obama Stiltskin is going to spend you into prosperity.

Submitted by normal on Thu, 11/19/2009 - 7:19am.

Clark Howard is not favoring gold either. You see it will crash also, Are you going to carry your gold bar to kroger. If everyone buys gold the government will tax it or take it from you. Thats the american way.

Submitted by The Shadow on Thu, 11/19/2009 - 12:58pm.

During the currency process of government devaluation of the dollar by flooding the market with electronic paper money, I will be taking profits on my gold and buying my groceries. I’ve already been through this once in the 1970’s when gold went from $42 an oz to $850, when the dollar was devalued.
The gold I purchased in 2001 for $250 oz can now be sold for $1150 oz. My gold enhanced dollars will buy more groceries at Kroger than the deflated dollars over 4 times as much.
When the dollar finally collapses and we have to start over with a new monetary unit, the gold will be exchanged for an equivalent amount of the new currency. The old collapsed dollar will have no value, like all the other paper money located in the garbage can of history that wasn’t back by gold. But it’s okay with me if you want to believe that the US Treasury Dept can spin paper into gold.

Fairy tales are fun to read if someone has the mentality of a child.

JeffC's picture
Submitted by JeffC on Thu, 11/19/2009 - 1:14pm.

Glad you're making a profit but gold will never form the basis for a new currency, there just isn't enough of it. If the dollar was backed by gold then gold would have to be worth over $680,000 an ounce.


S. Lindsey's picture
Submitted by S. Lindsey on Thu, 11/19/2009 - 4:48pm.

from protecting yourself from the inflation that is coming..

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


Submitted by Bonkers on Mon, 11/23/2009 - 5:31am.

We won't have bad inflation until about 10 million people get a good job!
Can you imagine: 10% home loans; 12% auto loans; CD's paying 8%; good steak at $25 a pound; gas at $6 per gallon; appliances doubling in cost; tomatoes $6 per pound instead of $3; lunch $20 instead of $8; restaurants not even open for dinner?

There is no money to support inflation.
Maybe some day--maybe not. Depends upon the Chinese!

S. Lindsey's picture
Submitted by S. Lindsey on Mon, 11/23/2009 - 5:21pm.

We are PRINTING it.. The major cause of inflation.. In the last 9 MONTHS we have increased our money supply by 120%.. there is no way to avoid it.

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


Submitted by dontmakemesay on Thu, 11/19/2009 - 9:16pm.

Do you have a GED?

S. Lindsey's picture
Submitted by S. Lindsey on Fri, 11/20/2009 - 9:42am.

or do you just like to throw out pithy comments?
Do you have an opinion, a spine? Please illuminate us with your vast knowledge..

""The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." " Thomas Jefferson


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