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Let’s not forget what it’s all about, okay?
What’s that? You forgot?
It’s all about “Quantitive Easing,” the jim-fuggery way of saying, “printing zeroes, lots of ’em, to get us outta this perma-jam til we think of somethin’ better!”
Know this now and forever, however:
There is no Recovery Only Zuul, and Zuul is cents on the dollar, which is going to turn back to its old ways here, soon enough. Or sooner. Look where we are on the monthly which gives a nice ten year plus eyeful:
That 38.2% fibonacci retrace line illustrated above is a Golden Ratio line — one of the strongest (along with it’s inverse 61.8%) in the psychologically uncanny mathematical metric .
Not unusually in the least, that same exact line shows up — almost to the penny — in our weekly chart as well, this time as the 100% fibonacci retrace in the intermediate term. Note —
So, as the activity in gold and silver, platinum and even oil and the lesser metals to some extent (TIE, RTI) has been telling us for about a week now, it looks like “they” — the Fed, the ECB and the Japanese MOF have been hitting the liquidity enema solution one more time.
That’s one big hammer Bernanke is flailing about.
I sure hope he doesn’t hurt anyone.
Best to you all, and stay with the rockets. Also, GSS and EXK looked good today.
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Euro going to parity would be around the 61.8% retracement of the decline in Dollar Index. My guess would be that’s when the Dollar would resume it’s previous downtrend.
But I could be wrong about that.
Dollar’s off quite a bit already.
There is no deflation only Zuul.
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Jake, got any opinion on MFN?
Increasing gold extraction costs give me a little agita, may be that they are running out of product, not sure.
Not an A+, but will probably rise w. the tide.
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There has been an unusual lack of political talk on this blog, as of late.
Let’s discuss how “full on retard” this administration is to let the Bush tax cuts expire at year end.
There were no Bush tax cuts. Bush (and the idiots that reelected him) were responsible for huge increases in spending – – domestically (for immediate consumption and political expedience) and on war (flushing $s down foreign toilets.)
Any government spending that does not make us more productive (most all of it) is paid either honestly (through taxes), or dishonestly (through future tax hikes or the tax of inflation.) Bush’s spending was emphatically negative for the productive capacity of the private economy.
Non-partisan thinking people will recall that his policies were responsible for the biggest mis-allocation of capital in the history of the planet.
lol
What color is the sky in your world?
My mistake.
(Dear diary, make a note not to respond to drunks or fools.)
Dear Purdy’s diary – a) first, let me say, i feel VERY sorry for you.
b) tell that dipshizzle to google ‘Bush tax cuts’ and then repeat his earlier comment.
c) inform him that his most revered ‘working man’ is the one who will feel the majority of the pain
caused by the expiration of said BUSH TAX CUTS.
gnash on
I don’t wholly disagree w. Purdy’s comments about the Bush Administration’s (and the GOP Congresses) over spending… which is why they are out of power right now.
However, to say that Bush’s spending was “the greatest misallocation” given some of the whoppers of the past (New Deal, Great Society) which were actually detrimental to the very fabric of our society, not to mention the newest whoppers, courtesy of Komrade Obama, is essentially “rediculatarded.”
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You must learn to read more carefully.
I said “HIS POLICIES” (think interest rates, housing policy, bank regs, and yes war and Part D spending) “were responsible”.
…FDR and LBJ can only admire Bush’s post-911 rush-to-crazy.
Again, those policies you mention were an agglomeration of policies from the last thirty years.
To lay them all at Bush’s door would be creditable to only a small percentage of hospitalized and sedated Bush Derangement Syndrome sufferers. For instance, he was thwarted many times by the Congressmand from your state — Barney Frank — in trying to reel in the runaway train that was Fred and Fannie — two giant teat suckers that will cost us far more than the Iraq War (from which we stand to benefit immensely)ever will
The New Deal and the Great Society were intentionally institutionalized spending systems — more likened to Bush’s Medicare D stupidity — that will be with us until they are repealed (most likely via some form of emergency bankruptcy). The long term societal damages resulting from that institutionalization of entitlement expectations, however, could be irreparable.
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Agreud.
They seem to be doing everything they can to “retard” the economy.
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JG – have you heard of ESPH?
friend of a friend thing…up 10% today (what isn’t?)
Blue Horseshoe loves Anacott Steel
I always thought it was “Endicott Steel?”
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lol – i thought it was ‘andicott’
Never heard… bulletin board stock?
I do not mess w. those.
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Did anyone just see this guy on Fox news w/ Shep Smith?
Hee-larious!
http://www.foxnews.com/politics/2010/06/09/surprise-south-carolina-democratic-senate-nominee-refuses-step-aside/
“..anyone just see this guy on Fox news”
Ah. That splains much.
LOL. And where are you getting your fact filled data feeds from, Ms. Maddow?
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LOL… this is gold… 50 cents say this guys is a plant by the GOP. He’s too good to be true:
Greene also says he is a supporter of the Democrats’ national health care agenda and the economic stimulus packages.
But as for how he would have voted on TARP, or the Troubled Asset Relief Program, Greene was undecided. “TARP? What’s that?” he asked.
After a moment he added, “I’ll have to look into that and get back to you.”
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I was half-listening (half-making money, yo) and thought it was some kind of joke.
he knows as much as the average congressman,
he may be good as the mayor of DC
truth be told, that stuff is just a distraction the masses watch as their pockets are picked of the last few coins.
ps
when jake & purdy begin agreeing, you know this country had/has serious issues
South Carolina – A fine place to visit! To live there…not so good!!
Easy – that’s the Woodshedder’s home state.
I would move to Greenville in a hot second.
And Charleston, Kiawah & Seabrook Islands?
Nothing could be finer.
Going there for my 4th o’ July vacation.
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Irrelevant tidbit: I once took a dump in the woods on sullivan’s island, sans tp.
Jake Goldfinger, correct me if I’m wrong (I know less than zero about TA), but is not that an “ascending triangle” potentially forming on GLD? Am I way off with this?
Not so much. If anything, it’s a cup & handle formation, though I don’t have much truck with such things.
Take a look at the weekly and monthly charts, and rest easy, my dessicated friend.
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What’s your feeling on BAA and RBY if you were deploying new money?
Sorry I missed this… answer on next page…
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