Al's Insights – Thu 16 Aug, 2012

Big Al and Trader Rog discuss a comment from Ben

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Al KorelinRoger Wiegand

  1. On August 16, 2012 at 2:34 pm,
    John W. Robertson says:

    Great update. Though always self-evident once hearing it said, just remember when you read ANY statistic in the next week (if you can stay self-aware that long). I think many in the BLS or Stats Can or Eurostat really do feel they do a good job. Like any useful idiot, they truly feel they are providing objective measures, with justifiable weightings, seasonal adjustments, re-classification of categories, etc. etc. etc.

    John Williams (who also has the fabulous initials John W) used to create statistics for government measures, starting in the 1970’s. He knows very well how they used to be collected and announced then, and how they are today. Yet his reports are regularly dismissed in the main-stream. He gets the occasional counnter-point call on a Nightly Business Report — you know, that one “wacko” who keeps things lively during the roundtable, but never one to be taken too seriously. Ironic, though, that he can show you statistics decade-over-decade WITHOUT adjustment.

    I also agree with you Roger. John has a hard enough time reporting what he does, and probably succumbs to some pressure to under-report the hard-core numbers.

    • On August 16, 2012 at 4:32 pm,
      Ann says:

      Wow. Awesome segment .So basically,take the govt. Unemployment numbers and times by 3 to get a more accurate %?? That is absolutely incredible.In Canada our latest number was appro.7%.So,should i assume that our govt.fudges also and triple the 7% to 21% to get a more accurate number.TIA for any responses

  2. On August 16, 2012 at 2:43 pm,
    Bobby says:

    Trader Rog,
    You realize that a 20% drop in housing (i assume you mean medium price) would mean that 100% of the home buyers from the last 3 years would be underwater on their mortgage.

  3. On August 16, 2012 at 3:00 pm,
    Dennis M. O'Neil says:

    I am shocked!!!!!!!!!!
    Roger they are playing with the numbers.
    I am shocked!!!!!!!!!!!!!!!!!!!!!!

    • On August 16, 2012 at 10:49 pm,
      John W. Robertson says:

      Even before I clicked the link…I just KNEW we had a Casablanca clip coming up…

      Funny every time.

  4. On August 16, 2012 at 3:32 pm,
    Bobby says:

    Time to take a closer look at Gary Johnson, google him, you mignt be suprised.

  5. On August 16, 2012 at 5:06 pm,
    Jody D says:

    Excellent discussion!
    Jody D

    • On August 16, 2012 at 6:06 pm,
      Marc says:

      Hey, Jody D.!
      Hope all is well with you. Caught your article on ammo accumulation. Disconcerting!

      • On August 17, 2012 at 2:55 pm,
        Jody D says:

        Marc, that article makes you go hmmmmmm, doesn’t it??
        I just had to make another trip to the coin man this morning. 🙂
        Thanks for your well wishes!
        Jody D

  6. On August 16, 2012 at 5:25 pm,
    Ben says:

    Big Al and Trader Rog,

    Thanks for the insights. I appreciate your perspective on these things,

  7. On August 16, 2012 at 6:22 pm,
    Shoobedoowa says:

    Came back to follow up on a comment I left in response to Vortex a few days ago.

    I mentioned that anyone considering leaving the US (or other Western nations) in the future needs to have their ducks lined up. Easy to leave, Getting very difficult to take anything with you.

    For those investing in gold, held in trust, held in account, held in ETF, etc., I would suggest listening to today’s interview with Marc Faber here:

    Note his comments of what happened when the communists took over Russia, or China. In my opinion, communists are taking over the Western World.

    An update on the account that I could not open… it done successfully yesterday. A few weeks at grinding away through contacts to find the right people, but those with no connections……I doubt it, at this bank anyway. Would have been simple to walk in with a passport and get it done up until a couple of months ago.

    Last couple of years, been trying to set up in a Central American country as another rabbit hole. Been lots of work and a drawn out process requiring several trips….the process still drags on. Used to be easy to open a bank account. Was there last fall as an account is now a requirement for what I want to do. To apply for an account there, you now have to have significant investment in a phyiscal property there, AND be a full time resident there. Many other hoops. Lots of work to do, and the only way I succeeded was with the extensive help of a good friend who has lived there for several years, and has many connections who could assist in bending some rules pretty hard. In other words, the average unconnected guy looking for simple asset diversification doesn’t stand a chance of getting that done in that particular jurisdiction now. Times are changing……

  8. On August 16, 2012 at 8:52 pm,
    James (the lesser) says:

    I’m not sure what article you are referring to but I have a pretty good guess. All I could say is I have been following this gold bull for 12 years now and I have seen many wanna be gold bears who are just trying to make a name for themselves come and go. They take an opposing view hoping to stand out and they are taken to the cleaners when gold continues its rise and they fade back into obscurity. Meanwhile the gold bulls are the same consistent people year in year out. Mark my words, the author of this article is just another jonny come lately trying to take some jabs at gold. Lets face it, if someone says gold is going to go up, no one would take notice, so if you want to make a name for yourself you have to take the opposite side, even if you dont believe it yourself. You cant take everything at face value, many so called analysts just have an agenda. Study the matter for yourself and come to your own conclusions.

    • On August 17, 2012 at 8:45 am,
      Marc says:

      Excellent comments. I have actually thought about what you said -A LOT. I mean, the macro fundamentals are so STRONG…I think what in the world are these people thinkin. Then, of course, they are trying to get “very, very lucky” by being a contrarian with respect to this gold supercycle. I think what you say makes a ton of sense. So much so, that I do read and digest still some of these guys, but not enough to consider it a waste of time – if you know what I mean. :).

  9. On August 17, 2012 at 9:09 am,
    Bobby says:

    Well this site will not accept any links related to Gary Johnson, I suggest you google him and make sure he is invited to the presidential debates. He does have a plan and we need to hear what it is.

    • On August 17, 2012 at 10:14 am,
      keepcalm says:

      Let’s see if THEY are really after you and Gary:

      Go Gary!
      Gary Johnson 2012
      Vote Gary!
      Gary Johnson for President!
      We want interviews with Gary!

      Yeah, We love Gary, invite Gary, Gary’s got a plan! Liberate weed! Hooray!

      (text above all test)

      • On August 17, 2012 at 11:07 am,
        Bobby says:

        not saying anyone is after me. the site will just not allow the johnson offical website to load, that all, it has something to do with the software.

        • On August 17, 2012 at 11:11 am,
          Bobby says:

          also, i am not saying that I support the man, just that he should have a chance to debate the two headed snake.

  10. On August 17, 2012 at 3:09 pm,
    mike m says:

    Big Al,
    you’ve talked about Austrian economics a is a new site with Professor Fekete and Sundeep Jaitly differentiating Mengerian Austrian economics from others…the term can be loosely used according to Sundeep Jaitly( he is a good read and has a sense of balanced viewpoints)anyway its a new website..the latter fella was interviewed on the Keiser report-episode 328… by the way a nice synopsis on differing gold valuations and Ben…there are always different viewpoints and only in future history books will we ultimately find out who was partially right or your show…

    mike m.

  11. On August 17, 2012 at 4:27 pm,
    Jerry O^OTB says:

    Why Roger……25%……If you sign up for the free money…..doesn’t that count as a
    ” job”: the act of just staying awake…… is a” job”
    , just to get the free food from the store,, is quite a “job.”…..SO , I say we have full employment……Happy days are here again….these are OBAMANOMICS…..