THE NEW one-and-only Depression thread

[Vlad Dobrich]

Re: THE NEW one-and-only Depression thread

Those sort of comments are OK when it's street/coffeehouse chess :)

[Paul Bonham]

Re: THE NEW one-and-only Depression thread

Obama irrevelent? Did you mean irreverent - lacking veneration? Should he go to church more? We had a chess expert in Toronto who, when spotting a poor move by an opponent would ask "Did you go to school, or did you go to church?" :):)

I guess that was a bad word to transpose letters. Irrelevant is what I meant.

Not to get too far off topic, but that chess expert, did he get away with statements like that to an opponent during play? I thought chess frowned on that sort of thing (unlike poker, where it is part of the show)?

[Gary Ruben]

Re: THE NEW one-and-only Depression thread

Obama gives a speech and stocks accelerate their dive. The next day, the Fed makes a ho-hum statement and stocks soar. That says something about how irrevelant Obama has become in just a few months. His presidency is now in jeopardy, and this is what is fueling the Tea Party. I think someone in the Democratic Party (not sure who) should seriously consider challenging Obama for the nomination, if that is even possible. I never liked him, he has no original ideas.

I don't consider Obama to be irrelevant. He's has the presidency during difficult times. It's up to the U.S. voters to decide and I'm not one of them.

I'd imagine he will be the Democrats nominee in the next election. That wouldn't stop a person running as an independent from contesting the presidency. That's what happened when Clinton ran for the Presidency. Perot ran. Perot won many states which Bush Sr. might have won had there not been a vote split. They have the electoral college so winning states is important. Without the independent Perot, the outcome in 1992 would have likely been much closer, at the very least.

I don't see U.S. government bonds as being any better or worse than they were a month ago.

With troubled countries, when the IMF steps in that means you and I. Canada and the U.S. are some of the nations making the loan. The U.S. a higher percentage than Canada.

I don't know how high gold will go. It never ceases to amaze me how high something can get before it finally drops. Or how low before it rises. Kind a like a penulum. The truth is maybe somewhere in the middle.

The main problem I can see with gold, no matter how high it gets, is this. If times get to where it's the only thing left with which to buy goods, what you want you'll likely be able to get. What you NEED, still won't likely be available.

[Vlad Dobrich]

Re: THE NEW one-and-only Depression thread

Obama gives a speech and stocks accelerate their dive. The next day, the Fed makes a ho-hum statement and stocks soar. That says something about how irrevelant Obama has become in just a few months. His presidency is now in jeopardy, and this is what is fueling the Tea Party. I think someone in the Democratic Party (not sure who) should seriously consider challenging Obama for the nomination, if that is even possible. I never liked him, he has no original ideas.

Europe has solidified for a day or two without the need for Germany to step forward. How long that can continue is anyone's guess.

Owning gold is more for those who have little faith in fiat currency. But even now, there are about as many economists against buying gold (saying it's a bubble ready to burst) as there are in favor of it. It's all about how thick or thin you think the veneer of civilization may be.

Obama irrevelent? Did you mean irreverent - lacking veneration? Should he go to church more? We had a chess expert in Toronto who, when spotting a poor move by an opponent would ask "Did you go to school, or did you go to church?" :):)

[John Henry]

Re: THE NEW one-and-only Depression thread

:):):):):):):):)

[Paul Bonham]

Re: THE NEW one-and-only Depression thread

Yeah. Bad day yesterday. President Obama was on TV trying to calm the nation but he looked very uncomfortable. What I call "sweating out loud". Anyhow, I'm not an American so am waiting for our Prime Minister to tell me when it's time to buy stocks, again. :-)

Anyhow, S&P sees the U.S. credit rating on a par with New Zealand and, I think, Lichtenstein (wherever that is).

You make a point about the Tea Party, I guess. It's not the U.S. can't pay the debts. I think what's being said is they won't do what's necessary. They have room to increase taxes but won't. A lot of expensive initiatives (without naming them as you know) and no real will to pay for them. A recipe for a nations debt to not be very desirable.

I don't know what will happen with Italy. The future for the Euro doesn't look that bright to me. At least not with all the present member nations still in the Eurozone.

By the way, I'm not a gold bug. I've never seen anyone buy anything in a store using gold as a currency. That wasn't the case around 1900 and the gold rush times, so I can see the value of the metal then more readily than I can see it now.

Obama gives a speech and stocks accelerate their dive. The next day, the Fed makes a ho-hum statement and stocks soar. That says something about how irrevelant Obama has become in just a few months. His presidency is now in jeopardy, and this is what is fueling the Tea Party. I think someone in the Democratic Party (not sure who) should seriously consider challenging Obama for the nomination, if that is even possible. I never liked him, he has no original ideas.

Europe has solidified for a day or two without the need for Germany to step forward. How long that can continue is anyone's guess.

Owning gold is more for those who have little faith in fiat currency. But even now, there are about as many economists against buying gold (saying it's a bubble ready to burst) as there are in favor of it. It's all about how thick or thin you think the veneer of civilization may be.

[John Henry]

Re: THE NEW one-and-only Depression thread

My success over the years-buy and hold!!! It works!!!!

[Gary Ruben]

Re: THE NEW one-and-only Depression thread

I am SMILING!!!! My Gold stocks are up up!!!!Buy Gold/Silver-the HARD stuff too and you will be smiling as well!!!!!:)JJ Henry,Senior Instructor C&M,Broker etc. etc.

Mine went up and I sold them both. Then they went down and I bought them back. Then they went up and I sold them again and now hold no gold stocks.

I have silver shorted. Don't ask... My timing was lousy. But now silver is dropping quite nicely and I still have the ETF. I consider silver to be a parasite which feeds on gold. :)

[Gary Ruben]

Re: THE NEW one-and-only Depression thread

Thank you. I've always wondered and never looked it up.

[John Henry]

Re: THE NEW one-and-only Depression thread

I am SMILING!!!! My Gold stocks are up up!!!!Buy Gold/Silver-the HARD stuff too and you will be smiling as well!!!!!:)JJ Henry,Senior Instructor C&M,Broker etc. etc.

[Emil Smilovici]

Re: THE NEW one-and-only Depression thread

Lichtenstein (wherever that is).

It's a landlocked principality between Austria and Switzerland.
Once I met a guy from Vaduz (working in a bank - of course) on a boat trip on the Lake Titicaca.

.... nothing to do with pop art ...

[Gary Ruben]

Re: THE NEW one-and-only Depression thread

It's not going to go away. For one thing, the Tea Party is so obsessed with beating Obama. They'll burn the house down to get rid of the bedbugs.

Big week for Europe: will Germany foot the bill for Italy?

Yeah. Bad day yesterday. President Obama was on TV trying to calm the nation but he looked very uncomfortable. What I call "sweating out loud". Anyhow, I'm not an American so am waiting for our Prime Minister to tell me when it's time to buy stocks, again. :-)

Anyhow, S&P sees the U.S. credit rating on a par with New Zealand and, I think, Lichtenstein (wherever that is).

You make a point about the Tea Party, I guess. It's not the U.S. can't pay the debts. I think what's being said is they won't do what's necessary. They have room to increase taxes but won't. A lot of expensive initiatives (without naming them as you know) and no real will to pay for them. A recipe for a nations debt to not be very desirable.

I don't know what will happen with Italy. The future for the Euro doesn't look that bright to me. At least not with all the present member nations still in the Eurozone.

By the way, I'm not a gold bug. I've never seen anyone buy anything in a store using gold as a currency. That wasn't the case around 1900 and the gold rush times, so I can see the value of the metal then more readily than I can see it now.

[Duncan Smith]

Re: THE NEW one-and-only Depression thread

I believe we are still in a longer term bull market that will test the all time highs before it is done. Anyone selling equities right now will regret it by December.

[Paul Bonham]

Re: THE NEW one-and-only Depression thread

You're wrong, we aren't even in a recession right now. I suppose you can buy some more new Apple products to swap stories about the Depression you think we are in.

Hey, Duncan, you're the curling guy, right? Well, hey, don't take your stock losses out on me. I supported you on that chess / curling thread, remember?

It's not the Depression I think we are in.... it's the Great Recession we never left. There was just a pregnant pause, thanks to the guberment. Now, we're resuming the inevitable cycle downward.

Asia tumbling, Dow, S&P futures down sharply. Fed will have to step up to the plate STRONGLY... will even that help? This entire week may very well go down in history. Human nature still exists as always. Once panic sets in, it's like melting ice: drip... drip.... drip drip.... drip drip drip.... SLOSH!.

On the other hand, Canada may do very well in curling this coming winter.

Apple products??? You mean, like the byePod or the dryPad or the whyPhone? Oh, we're saved! Ignore those riots in the UK!

[Duncan Smith]

Re: THE NEW one-and-only Depression thread

You're wrong, we aren't even in a recession right now. I suppose you can buy some more new Apple products to swap stories about the Depression you think we are in.