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Never Mind Your Cuts, Give Me Moah Revenue

Ming

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Depending on whose figures you credit, increasing marginal taxes on “the rich” — otherwise known as every schmuck “fortunate” enough to make more than $250,000… including you suckers who live in the Northeast U.S.  and metropolitan California, where this amount will get you a second car and maybe a third bedroom — will raise anywhere from $75 to $90 billion dollars next year.

On the other hand, next year’s budget deficit, depending on how you cost Obamacare, could amount to anywhere from $1.3 to $1.6 TRILLION and higher.   Despite their proposed tax increase delivering far less than 10%  of that proposed deficit, the Administration now seems to have little interest in bartering said tax increase for an agreement to cut spending to a degree that might provide actual deficit relief.  Of course many kind words have been uttered about a “future plan” to implement cuts, but Lord knows, we’ve seen such promises go up in smoke many times since the Reagan era, when that bait and switch was first used by the venerable Tip O’Neil.

So the question arises:  Could the Republicans be dumb enough to trample their long held principles about raising taxes in a recessionary economy, and accept a blind tax increase without defined, commensurate, and indeed exponential, cuts in spending in exchange?  Would they sell out their birthright and last bargaining chip merely to escape the glare of Ming the Merciless?

Well, I find it hard to believe, but I’ve seen some crazy stuff in the last month.   So who knows?  Maybe they will make it easy for all of us.

Perhaps in the end, the cynics are correct, and the only way out is to follow the wormhole to it’s very core, and burst out the other side at the dawn, once again.   One thing is for certain, however… “Things fall apart… the center cannot hold.”

Pax.

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PS — you who come here for an occasional discussion of PM stocks….  I really think the sell off in AUY is as much an opportunity as the sell off in RGLD  last week.  One of my favorites.  Also, I continue to like AG here.

Bless us all, every one.

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[youtube:http://www.youtube.com/watch?v=1U9CL8OXCQc 450 300]

 

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Shut up and Get in the Unimog

Arnold Unimog
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The amount of whining I’ve seen on this site recently is only rivaled by that of ESPN’s Steve Young and Trent Dilfer after last night’s hilarious game.
Suck it up, Trebeck, it’s a bull market!   Benjamin Bernanke has decreed that all asset markets should rise in honor of Grand Marshall Obama and, well, you know what they used to say to Yul Brynner in pajama pants, right? “So it is written, so it shall be done.”  And that’s it.

So get in the Unimog.  We’re gonna let Arnold drive, and roll over some bears even as the world collapses.  And don’t worry about Romney.  He’ll be fine, especially after the debates when he shows President Empty Suit what an economics degree looks like.  Maybe some of you fanboi’s might take notice as well, though I’m not holding my breath.

What do you know? One of my favorite “grandmama” stocks has broken out — Urstadt Biddle Properties (NYSE: UBA).  Why? Because they own scarce retail real estate in one of the richest areas on this earth outside of never-fail-land, Washington, D.C.  That would be Westchester, Fairfield and Putnam counties, otherwise known as the fully developed northern suburbs of New York City.  It never fails — when scare resources are chased by too many dollars, their value rises.  Just like gold, just like silver.  I love the management as well.  The eponymous octogenarian CEO and majority owner, Charles Urstadt, is an old school Dartmouth athlete, who still swims around the island of Manhattan in his spare time.  He is a pisser around the bourbon bar as well.  Go up to Greenwich and see him, why don’t you?  Buy and hold forever.

Almost all my gold and silver favorites are approaching buy levels again, and these will hold til Santa day, minimum.  I really like AUY here on the gold side.  For silver, I like AG.  A lot.

If you are going to cry about something, don’t let it be for stocks or a stupid replacement ref.  Let it be for some light that has passed from the earth.  Like the bright light of Luciano Pavarotti, the angelus.  I saw Puccini’s  Tosca last weekend and it was sublime, but the first opera I ever saw (only some six years back) was another Puccini masterwork… Turandot.  Check out this famous aria from that classic, as sung by Luciano… give it a second and you will recognize it I have no doubt.  Does it not transcend all boundaries, all tastes?

It is a blessing, there’s just no other description:

[youtube:http://www.youtube.com/watch?v=iW1w1ryYQDw 450 300]

Best to you all.

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The Other Night I Saw the Fly

Fly
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The other night I saw the Fly
And Jeremy and Chuck Am I.
Chess and Wine and Gappy Too
(Might sound like three, but only two)
Woodshedder bedecked in denim
Scotty with lovely wife, God bless’im

Cain Thaler came on wheelchair made
of Bamboo- wire and cut jade
Ancient even past his years
He breathed blue smoke and shed dry tears
For Detroit his home benighted so
By corrupt gov’t and cold grey snow

Fly made toasts to kith and kin
Whilst Jemmy’s stomach near augured in.
Gapp and Chuck, wolfish rakes
Assessed the women (even Jake’s)
Yet stayed their hands and played the part
Of gentlemen, with Gentle Heart

RC of course, the Silent Giant
Hove to the table, his palette pliant
Without his better half’s restraint
Drew ample beverage, drew ample plate.

One party missing, and well missed
The liberal heart, whom Nature kissed
No Cronkite and no Greenman showed
To plead ‘gainst MONstah, and for “O.”

Alas!

Progenic duty stayed the bars
(And further frolics with cigars)
Sent “the Jakes” home by one AM
Whilst Friends of Fly (and Chess and Jem)
Went forth with blessings from us both
For IBC, for friends and “Growth.”

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Someone claimed I haven’t posted in two months! Calumny!
It’s been a mere one month. It’s only seemed like two in our accelerated world. Things have slowed, or blowed, or both, and I won’t bore you with details, but I should be able to post somewhat more often, at least in August.

Did I mention I had to cut my vacation short and come home three days early? Yeah, I know, boo hoo, at least I have a job, right? What right have I to complain when this is the lot I’ve chosen? Right. None.

Meanwhile, while I’ve been resting my keyboard, the silver markets have begun to show signs of life again. If you are not in EXK and AG, you’ve still got time, but probably not a tonne of it. Likewise SLW which had a nice move today. Dollars to donuts the lesser bodies like MVG and SSRI will also begin to rise alongside the champions. Like usual, the real moves will be made in the Fall for those stocks, but it certainly wouldn’t hurt you to start accumulating now. As usual, SIL is a great “combinator” if you don’t want to agonize over the usual suspects.

Gold stocks have become almost too annoying to mess with on the individual side, so outside of RGLD, and maybe AUY, I am not going to recommend you dabble in anything but the ETF’s like GDX and GDXJ.

Before you ask, yes, I still own the rare earths (QRM and AVL, especially), despite their declines. I just add more on whims. What the hell, they are popcorn cheap and I am quite certain they will Bela Lugosi when the dollar heads down one more time this coming Election Season.

What’s got me in “near term buy” mode however, are a couple of stocks I’ve owned for a while that are showing nice promise right now. One is nat gas former superstar ECA, which looks beautiful, especially on a pullback to the $21.00 range. Another is PSX, which I “inherited” when it spun off of COP, back in April (COP being one of the Samurai Seven along with fat dividend gold stock AEM, which has also risen from the grave as of late). And along with PSX, I will take some HFC, another refiner. I like them both at $38 if you are looking for a buy range.

I will endeavor to be more faithful to you my friends. The spirit is always willing, as you know… the flesh? Well…

Slainte.

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Counting Cards

cards
Irish
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Yes, it’s getting to be that time of year again.  That time when the Louisville Basketball Cards get my hopes up by doing real well (maybe even winning) in the Big East Tournament, only to dash my head up against the sea-foam flecked jetty by crapping the bed in the actual NCAA Tournament.

Well, they’re doing it again, playing one of the best games of their season against #9 ranked Marquette (the #2 seed in the Big East Tournament), snagging 26 offensive rebounds and forcing Marquette into 25 turnovers (they’d averaged 12 all year).  Will this defensive dominance be enough to take them past Notre Dame tomorrow night and into the finals on Saturday?

I don’t really care, as I’m steeling myself against any victory.  It’s all for the best, believe me.

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Except for purchases of EXK and TC on Wednesday, I’ve been sitting around eating samitches.   I’m still a bit leery of this market, despite the dollar losing a lot of steam today while gold & silver strengthened.   I’m up pretty nicely on EXK and I’m even thinking about adding some more AG.   However, I still continue to believe that AUY is one of the better bets in the gold miner market.  Check how the price has rebounded nicely on the weekly:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

And this is where I think the “safe zone” is to purchase … above $17.50 where that handle in the weekly will be better defined.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Best to you all, and Go Cards! (and Big East in general).

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Golden Bananas

[youtube:http://www.youtube.com/watch?v=2JgYuQ4hLxo&feature=related 450 300] ________________________
It’s Ash Wednesday today, and I’m not sure that I’ve been sufficiently penitent, so I’ll leave off the gloating about the big win on yesterday’s pick, BAA.  Suffice it to say that choosing from the juniors yesterday was like throwing a phosphorous grenade into a bucket of comatose darter snails… not very sporting.

But effective, for sure.  I’ll just wrap with my view on where BAA looks like it can be bought again:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I’m also stalking AAU, here and some more AUY, but that’ll probably not be ripe til next week sometime.  The latter is my Final Four choice, however, so if you want to buy some on Friday, I’d be obliged to ye.

But it”s not just the metal that’s been golden these days, it’s been ag products as well.  I stumbled across an old Cincicrappie name I used to follow (they are now moving to Charlotte, I hear) — Chiquita Banana (CQB) .  This one’s been working itself back along with a bunch of other beat down ags, and who knows, maybe moving out of Ohio means it has a new lease on life?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whatever the case, I like it at just a touch above that $9.75 support line.   See you there.

My best to you all, my banana burritos.

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Have You Any Wool?

sheep
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Yes Sir, Yes Sir, three bags full.

One for my Master,

One for the Maid,

And One for Le Docteur Who’s Sprawled on Butter Biers down le Lane.

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I’ve scanned the bulk of  the stocks that I follow, and save for the ones that have been ruthless stolen by my fellow bloggers, I do believe that BAA-BAA Black Sheep presents the best opportunity for profit going forward.

Note what I’d remarked earlier about this stock’s flirtation with $5.00, and how, like EXK finally did, it would one day break that barrier for once and all?

Well I believe that time has come.  Come, see the violence inherent in the system:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

And here’s the daily, which also seems to indicate we are on solid ground, and probably will not rest for another quarter or so…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I also like AUY, XRA and EGO here as soon as tomorrow.  Lots of stuff will be popping, however, so keep your eyes open along with your coin purse.

Best to you.

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