Re: When it rains it pours
cat tail
9/23/2011 7:59:23 AM
Think how different this might have been without the euro, Prior to the euro, Greece could have devalued its currency, but that's no longer possible.
Re: When it rains it pours
Phoenix
9/23/2011 7:51:10 AM
Yes Asia included. Looks like we are all going down really bad this time. The down side of global trade. I wonder whether the EU will give up the Euro. They really don't seem to have a proper strategy to counter the downward spiral.
Re: When it rains it pours
Dex
9/23/2011 7:43:14 AM
Tell you what Scott...I'm not laughing
TelecomFreq,
Since your watching, feel free to divulge some of that intel ;)
Scott,
Thanks for responding. Since your last report I have been keeping a much closer eye on gold, and doing a fair amount of research. its getting very interesting and I am looking forward the outcome.
Re: When it rains it pours
Bargain Bin
9/22/2011 7:33:26 PM
Out of curiosity, what makes you believe that the market hasn't factored in all these potential crises?
"Unless you can watch your stock holding decline by 50% without becoming panic stricken, you should not be in the stock market"
--LOL laughing or craying
TelecomFreq,
"do you think the current situation is going to cause gold to skyrocket to new levels?"
I do, actually... though I can't say exactly how it will unfold. As you recall, gold went from $350 to $1,000 from 2002 to 2008, but then got whacked back to $700 with a lot of other things in 2008. You are seeing a similar effect this week with mass liquidation of all assets. But any central bank response (and eventually there will be one) should propel it back up. As you may recall in 2008 it didn't stay down long at all because the solution to the problems was bailouts, money-printing, e.t.c., which pushed gold to new highs -- and outperformed the stock market in the recovery.
This will probably unfold in similar way although in an "on steroids" fashion. The only solution to these global banking problems will be bailouts and the printing press. I think this will push gold to $2,000 in beyond -- probably quite soon. But you know, nobody can ever be right about everything, it is going to be volatile, and I would not be surprised by anything...
--Scott
Re: When it rains it pours
Street Smart
9/22/2011 4:46:15 PM
I think the China numbers DO serve an important (though highly negative) purpose, and that is to drive home once and for all that global consumer demand is WAY DOWN and not rebounding any time soon. It's not an aberration; it's not a hiccup; it's a TREND and we'd all, ASIA INCLUDED, better adjust to the new world order.
Re: When it rains it pours
Value Hiker
9/22/2011 4:32:25 PM
Nothing Special, it is just another day Mr. Market feel a little down. Unless you can watch your stock holding decline by 50% without becoming panic stricken, you should not be in the stock market
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