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Politics this Weekend

ker
May 25, 2013

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More than just a little politics this weekend. Then again, with the three ring circus (possibly soon to be four or maybe five rings) how could we avoid this subject?

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Hour 2 :


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Discussion
62 Comments
    May 25, 2013 25:43 AM

    I love the weekend…my mining stocks trade flat for two days!

      May 25, 2013 25:45 AM

      Hopefully most of ours did, Gary.

      Have a great weekend,

      Big Al

    May 25, 2013 25:09 AM

    A little over a year ago Big Al was between flights and reading an editorial about Obamacare that struck him in a way:
    http://www.kereport.com/2012/03/25/quickie-airport-hope-sense/
    In response to his concern I offered a then stale (and now more stale) letter about which I felt related to his then concern. Said letter also offers considerations for Memorial Day, to wit:
    On March 25, 2012 at 7:55 pm,
    Dennis M. O’Neil says:
    Below is a letter I sent to my Congressperson exactly two years ago.
    It is on point with Al’s multi-tasking connecting flight question.
    I offer it for your consideration as an open letter.
    I hope it makes a point or two.

    Dear Mary Jo Kilroy,
    Thank you very little for ruining our country.
    I had always found it dishonest that FDR sold Social Security as Insurance and described the payments to support the now insolvent program as premiums.
    In court his lawyers argued that it was not actually insurance and the payments
    were a tax. Why did they do that?
    Mary Jo you and your colleagues have constitutional authority to levy certain taxes on us. What you and your colleagues do not have is the constitutional authority to compel us to pay premiums or purchase any other product. If you do then I may unfortunately be compelled to buy a General Motors vehicle in the near future.
    That is of course if you still let us own our own cars.
    If the fiasco you call “healthcare reform” stands the result is our country will have become what thousands of the honored in Arlington fought against.
    Mary Jo…. take a walk!
    Go past the Lincoln Memorial;
    walk up the Honored Hill;
    watch the ceremony;
    see the endless ordered ranks;
    and if you do not cry;
    you will know why;
    why we are
    no longer free.
    Cordially,
    Dennis M. O’Neil

      May 25, 2013 25:02 AM

      Well said DENNIS…………….you are exactly correct, Obama Care…will be the end to the American Dream…..I HAD A DREAM, will turn out to be a Nightmare .

      Small businesses are refusing to hire people for full time employment..because of Obama care…….As ,a once small time employer, I would not hire anyone under the present situation…..
      The total tax contribution and benefits, and future obligations,,,, exceed the benefits of owning or taking on the added risk of harassment from govt. officials…………

      Mary Jo, should be forced to own a small business, and then maybe should would understand your comments……..
      Have a great MEMORIAL DAY, …………….OOTB

        May 26, 2013 26:52 PM

        HOT NEWS…….IMF HEAD, CHRISTINE LAGARDE,,,IN COURT CHARGED WITH EMBEZZLEMENT AND FRAUD……………

        May 26, 2013 26:51 PM

        Jerry….the LONG,
        Your so-called American Dream ended long ago and sorry to say that your present president had nothing to do with that.

          May 27, 2013 27:20 AM

          Nancy Pelosi, Harry Reid, Barrack Obama with the support of then Congress”man” Mary Jo Kilroy did not pass The Healthcare reform act to improve healthcare. It was passed to control people.
          Mike….nowhere in my above comment did I reference a so called “American Dream”.
          You are right though the decay of our country is now very long in the tooth.
          The decay is older than Jiroemon Kimura.
          http://www.smh.com.au/world/outnumbered-by-the-girls-hes-the-last-man-standing-20130524-2k6ry.html
          And the honored in Arlington who fought hardest against the advance of tyranny just may be the Confederate soldiers.

    May 25, 2013 25:38 AM

    Unfortunately, 2008 was merely the appetizer, while we await the entree that will dwarf conditions of ’08 in multiples. However, Desert will usher-in a re-birth that will be fought tooth-and-nail via those (fiscal/monetary policymakers/Wall St. & others) whom have created the disaster itself via pervasive; rampant Fraud/Corruption lacking any sense of ethics/morality/humanity.

    With respect to the Metals, further time/repair/healing is required and forthcoming.

    Hal
    May 25, 2013 25:58 AM

    The gov has not issued its 2013 soc sec, medicare and disability trust reports yet–kind of late now.

    I suppose we will see a further pulling forward of the dates that they run out of “money” and none of the 535 congressmen will say or do anything about it, consistent with prior practices.

    Obamacare is just going to be the straw that breaks the camels back.

    When people realize the the entire “cost effectiveness” of Obamacare is predicated on higher taxes and higher premiums and possible takeaways of mandatory cuts in provider pay, this country will finally learn

    “that there is no such thing as a free lunch”

      May 25, 2013 25:26 AM

      Hal wrote “When people realize the entire “cost effectiveness” of Obamacare is predicated on higher taxes and higher premiums and possible takeaways of mandatory cuts in provider pay” Hal I would add to those a dramatic increase in the rationing of delivered care that cannot so subtly be seen for what it will be….a sick blend of eugenics and euthanasia.

    Hal
    May 25, 2013 25:07 AM

    further to my above comment, I used to be a financial exec at a large company. Managers and vps used to come to me with proposals on projects. Nice smart people.

    Most did not have a clue of how a project or a need for a project had to pay for itself. It was totally amazing to listen to educated folks babble on and go nowhere. When I challenged assumptions they could not defend their positions and the project was unceremoniously dumped.

    Our elected incompetents vote for each others boondoggles and there is no internal controls in the process.
    if you question this last part, just look to the US financial statements issued once a year as only discussed byJohn Williams of Shadow Stats. you know, the ones that show a 7 trillion loss vs the bs cash flow “loss”.

    Within those few hundred pages is, for the last 3 years, 26 pages devoted to internal control problems as seen by the GAO including IRS problems of internal control, defense dept problems etc. with money, our money just pouring out to the lucky few.

    The people we elected are not doing there jobs at several levels.

    But the upside to all this is probably its all going to be over in a few years when we finally run out of money. Or money that people want.

      May 25, 2013 25:07 AM

      Hal……a great insight might be the CLOSING OF 50 SCHOOLS IN CHICAGO…,,Was’nt OBAMA FROM CHICAGO…..great insight into elected leadership………….

        May 25, 2013 25:10 AM

        and guess who is the MAYOR….wasn’t he in the cabinet of OBAMA.? (I think so),,they are going to get what they elected…..TROUBLE………..

          Feb 04, 2014 04:42 AM

          Holy shitinz, this is so cool thank you.

        Feb 01, 2014 01:17 AM

        Kudos to you! I hadn’t thhugot of that!

        Feb 02, 2014 02:25 PM

        Although the Dennis and Scott article is quite dclifiuft to refute, it is also important to remember that chronic does not necessarily mean biological. I agree with the article’s thesis arguing for the chronic nature of SUD’s, and they even have empirical data suggesting that a physiological basis underlies the clinical experience of SUD chronicity (Dennis, 46). However, the Weegmann article offers compelling evidence that cannot be discounted either. In discussing group therapy, the Weegmann article suggests that pain relief and pain induction are both attempts to regulate psychological suffering (Weegmann, 4). Although that evidence in no way suggests that SUD’s are not chronic, it serves as a good reminder that even if the issue is physiological, it is not reducible to physiology in a deterministic way. I think that as a therapist, it is of the upmost importance to acknowledge the chronicity of addictions, but it is as important not to forget our cognitive plasticity and malleability. Acknowledging that fundamental distinction can shape, or even change the course of treatment. In doing so, treatment can cast a wider net and be more effective.

    Hal
    May 25, 2013 25:34 AM

    One more “reality” post. On Obamacare.
    Putting aside political perspective on this, its also the project management tat will kill this.

    Has anyone worked on a major project in a company. Like the rollout of new software systems? If you have you understand how completely complex these things are with many t’s to cross and i’s to dot.

    Think about that for a while. The better people implementing these programs have eyes in the back of their heads, they have an inate ability to spec out a system and implement it.

    I’d bet dollars to donuts (or silver eagles to donuts) that the folks in dc responsible for Obamacare, from Sebelius on down, have no clue on the Obamacare project-its a project run amuck. We are seeing that this week with unions pissing and moaning about what they are getting (some of this might border on lies but put that aside).

    Some of Obamacare might be delayed–again, these folks have no clue until they hit an unexpected snag.

    We really do not have the best and brightest working on this and we are doing our best to push the best and brightest away from the table.

    Now–with all the AP and IRS and Bengahzi stuff going on, They cant handle that, how they gonna handle the backbone stuff.

    Problems happen to the best of us-its how we adjust to it and fix things that are important and this adm keeps digging deeper holes and deflects problems not fix problems.

    Nobody hears much about Valarie Jarrett; we probably should be looking in that direction.

    May 25, 2013 25:12 AM

    Great article on Colorado and Northern B.C. talked about by BOB in segment 7 at http://www.pennyminingstocks.com.

    May 25, 2013 25:17 AM

    I always find Bob M very entertaining particularly when he makes comparisons with the markets from 1929 to 1932, a very interesting time and one that I believe history is mirroring again in more ways than just the return of the Dow.

    Colorado resources is not a stock I remember as much as BRE-X which was really a breathtaking ride for many and a fall equally impressive, talk about flying Turkeys, watching the herd continue to buy even after it had hit $258 just supports the contrarian philosophy more than anything. DT

    May 25, 2013 25:15 AM

    Bob Moriarty, the studio dogs and Walter Jones. My favorite 3 guests! Keep up the good work!

      May 25, 2013 25:28 AM

      THE” studio dogs,”,,, is what the IRS will sound like when they find out we are broke…..
      and their pay checks bounce………….

        May 25, 2013 25:47 PM

        Jerry and Piltdown Man,

        You guys are great!

        Big Al

    May 25, 2013 25:44 AM

    Dennis M, Jerry, Simon and Hal,

    Great and well thought out discourse. Thank you. We certainly do learn from each other don’t we!

    Best,

    Big Al

    May 25, 2013 25:58 AM

    Congressman Walter Jones said that we should live according to the teachings of the Bible and implied that our government should operate according to biblical principles as well. I must take issue with the congressman, because I suspect that he has never read much of the Bible.
    I don’t think you would like a biblical government. The concept of democracy is utterly alien to the Bible. No government in Bible history was ever elected by the people. They were governed by military strongmen like Moses and Joshua, and later by monarchs with absolute power. If you favor the biblical model then you favor dictatorship. Even Jesus was intolerant of dissent. We’d have to do away with the First Amendment because the Bible is clearly opposed to freedom of speech and freedom of religion (Deuteronomy 13:6-11 and Luke 19:27).
    We’d also have to repeal the Thirteenth Amendment, because the Bible defends the institution of slavery (Leviticus 25:44-46). It even prescribes beating as an appropriate punishment for slaves (Exodus 21:20-21 and Luke 12:47-48), which pretty much does away with the Eighth Amendment. Nowhere in the Old Testament or the New is slavery denounced as evil. The Apostle Paul did advise Philemon to be kind to his slave but did not object to the practice of owning people.
    Christians often put forward the Ten Commandments as the basis for American law. If you were to ask any Christian if they believe in the Ten Commandments, all would say, “Yes!” Then ask them to recite them. With few exceptions they wouldn’t be able to. How can people believe in something if they don’t know what it is that they are claiming? I recall an interview with Congressman Westmoreland of Georgia a few years ago in which he proudly stated that he believes in the Ten Commandments. When asked to recite them he could only think of two! I wonder whether Mr. Jones could do any better. The first four commandments are religious laws, which do not agree with the First Amendment. Only the commandments against murder, theft, and perjury have any relevance in American law, and you don’t need the Bible to know that those things are bad. Honoring your parents is good, assuming they are not abusive or neglectful. Adultery is probably unwise but not against the law. Finally, if you think the commandment against coveting is good, then you should stop investing in stocks, terminate your show, and go into another line of work, because coveting is an integral part of a free enterprise economy.
    I suspect that religious folk are convinced that their Bible is truly the “good book” because they’ve only read the nice parts. For sure the Bible does contain some gems of wisdom, but it also contains some horrible teachings that I don’t think you would want to practice. Perhaps you believe the Bible to be a great plan for good living and good government because your priest or minister has told you so. You really should investigate it for yourself.

      May 25, 2013 25:26 PM

      Excellent Wayne. I have been waiting for someone to show me where in the bible it supports slavery.
      I am not christian in any way shape or form, I feel there is somthing wrong with it.
      Most people dont seem to understand slavery includes torture, rape, medical experimentation, murder, pediphilia. and the mind that promotes such treatment.
      I have herd priests pastors etc justifying slavery, I just plain disagree.
      I really do hope that one day people figure out there is no justification for a genocide or pediphilia etc.

        May 25, 2013 25:58 PM

        Of course I have to agree with you Ben B. Any sane person would. Notice I said “sane”!

        Big Al

      May 25, 2013 25:55 PM

      I appreciate your views, Wayne.

      I have to add that my beliefs are not from what some other human being has said.

      I disagree with some of your comments and agree with others.

      I do listen to everyone’s opinion.

      Best,

      Big Al

      May 27, 2013 27:01 AM

      Your comments show how little you`ve been exposed to the Bible, the philosophical positioning of the founding fathers and the general requirements for a society to live in an society where peace and justice are promoted.

      I’ll just give you a clue here:

      Imprisonment of America’s 2.3 million prisoners, costing $24,000 per inmate per year, and $5.1 billion in new prison construction, consumes $60.3 billion in budget expenditures.

      https://en.wikipedia.org/wiki/United_States_incarceration_rate

      Too many laws for victimless crimes is not justice, though it is “law enforcement”.

      “Perhaps you believe the Bible to be a great plan for good living and good government because your priest or minister has told you so. ” – The old Testament, old Covenant, was designed to separate the Israelites from other nation and make them a witness and a priesthood unto God, according to his view of righteousness. Under the new Covenant in Christ Jesus, only one requirement qualifies the faithful: live according to the measure of faith God has granted you.

      Romans 12:3 – For I say, through the grace given to me, to everyone who is among you, not to think of himself more highly than he ought to think, but to think soberly, as God has dealt to each one a measure of faith.

      As for priest and ministers, nothing new under the sun.

      Jeremiah 5:30-31 – “An astonishing and horrible thing has been committed in the land: The prophets prophesy falsely, and the priests rule by their own power; and My people love to have it so. But what will you do in the end?”

      We are all guilty of wallowing in our own ignorance of Bible knowledge, historical facts and wishful thinking.

      My people are destroyed for lack of knowledge. – Hosea 4:6

    May 25, 2013 25:44 AM

    Wayne very interesting piece, thankyou. I fully agree that when folk/politicians make bland statements about getting back to the Bible half the time they don’t know what they’re saying, or rather just echoing sentiments that resonate with your ‘God-fearing’ country.
    That said, Bob M (segments 5 & 7) touches on the illusion that goes with the word democracy. Your so-called democracy is, like ours, rapidly eroding. Who was it said that in the end all democracy becomes despotism?
    As for the Ten Commandments, yes absolutely fine in principle. Yet half the time these gets twisted to suit whatever cause one is espousing (the old God on our side during war being an obvious one).
    Half the time it would be better if those who affirm the ten commandments saw their adherence to them as at best flaky, at worst downright in conflict with them. Reminds me of the child’s misprint when writing out the 7th commandments and wrote: ‘Thou shalt not admit adultery’!

    Yet another great show Al, A

      May 25, 2013 25:07 AM

      Andrew…..this is where “rightly dividing the word”…..would give those ,who think they know, lack knowing, and do not know, they do not know…………..

      May 25, 2013 25:00 PM

      I agree with you completely Reverend!

      God bless,

      Big Al

        Feb 02, 2014 02:30 PM

        I like the cover too, but I feel like some of the faces are too sharp, like Bill’s and Tara’s. And for Sookie, I think the most accurate part of her is the lips

    Hal
    May 25, 2013 25:51 AM

    ok–Back to Obama and Illinois and Chicago Schools;

    1) Obamas favorite vote in ILL Senate, when he was not campaigning was “present”
    2) his preferred vote in US Senate-when he was not campaigning, was “present”

    I’d like someone to show me his accomplishments besides being elected.

    Next–Arne Duncan was Chicago School Chief before he was named by Obama as Secty of Education. His accomplishment at Chicago–academics-nothing great, he left Chicago leaving the Schools deep in debt and the teacher pension fund bankrupt.

    There folks is how you pick someone to run the Department of Education.

    In 40 years of business I never never hired any one whose record was bad-its tough enough when you have a good record.

    So now look at who he has picked for his adm/cabinet and all the BS Czars. And now think about all the problems. Its a management problem. He says things that when a rational person thinks about it cannot be delivered. Unfortunately most of the electorate is irrational.

    I also know that because most of the people close to me, family included (my loved ones) have no clue whats going one. My close family all have better education pedigree than I do–but they pay zero attn to politics even headlines.

    So again, what should the expectations be? If your expectations are low you will not be disappointed.

    Putting aside different philosophies which will usually exist, if you staff up with people who do not possess the proper experience, is anybody the least bit surprised?

    I could not bring myself to vote for McCain-Palin. I thought about Obama-Biden on the mistaken belief that Biden would keep the inexperience of Obama from causing problems–then I changed my mind thinking that Biden was kind of a bozo himself.
    Then I voted for Ron Paul knowing it was meaningless (and in IL most votes are meaningless).

    its not just Obama’s fault, its not just Congress fault–it’s society’s fault

      May 25, 2013 25:05 PM

      Of course, Hal, it is absolutely society’s fault!

      Big Al

    May 25, 2013 25:04 AM

    “we need new faces”…..,commented Walter Jones,,,,,,HE IS EXACTLY CORRECT,,,,we need about 535 new faces………………all with term limits……………….

    May 25, 2013 25:43 AM

    BOB AND ROGER……always glad to hear from those guys…………..,I think Bob should do some TA,…..technical- airo nomics…….after all he has been know to fly under the TOWER

    May 25, 2013 25:48 AM

    In case you missed it “Reading Hayek in Beijing”…a great article from page A11 in today’s WSJ…. a link to the full article is below a good read….
    In the below quote I replace the first four words of a paragraph from the article(which were “The Great Leap Forward”) with the words “The Obama Administration” and here is what the result of that edit is…..kind of scary:
    The Obama Administration “was an extreme example of what happens when a coercive state, operating on the conceit of perfect knowledge, attempts to achieve some end. Even today the regime seems to think it’s possible to know everything—one reason they devote so many resources to monitoring domestic websites and hacking into the servers of Western companies. But the problem of incomplete knowledge can’t be solved in an authoritarian system that refuses to cede power to the separate people who possess that knowledge.”

    http://online.wsj.com/article/SB10001424127887324659404578501492191072734.html

      May 26, 2013 26:10 PM

      Actually did read it.

      Big Al

    May 25, 2013 25:58 PM

    I luv you OBAMACARE. Do you luv me? I think you do luv me. Free Healthcare for everybody. free housing, free food, free smartphone, free money, free everything. I luv you OBAMACARE.

    May 25, 2013 25:14 PM

    Does

    So how good is that? No more responsibility. How good is that?
    Great! Remember the old Alice Cooper song, “Schools Out For Summer”.

    What a wonderful life!

    Big Al

    May 26, 2013 26:25 AM

    http://www.jerrydoyle.com/the-cia-is-shoveling-millions-and-millions-of-dollars-into-harmed-karzai_s- The CIA is Shoveling Millions & Millions of Dollars into Hamid Karzai`s Pockets – Author Douglas Wissing Explains published 30 April 2013 listen or download audio MP3 , now this has been going on for years since GW Bush`s WH to the current WH of Obama. It sounds like its a clearing house to fund, just about anything. Bush & Obama their legacy in a war torn Hell for our troops, day-in & day-out no wonder they are killing themselves daily. Pain & suffering………….

    May 26, 2013 26:44 AM

    Here is some more links on our present scandal`s, it seems like its escalading into more & more scandal`s if you just go looking for it on the web. I think Obama`s in for it. I think the liberals have been waiting for the time to come clean on Obama, but the truth is GW Bush and his cronies are just as bad. Its true we only have just one party in the country and its the Tea Party all the rest are owned: lock, stock, barrel, & fishing boat by the Banksters. OR their are two parties its Tea Party and the Banksters.

      May 26, 2013 26:20 AM

      http://www.randpaulreview.com/2013/05/white-house-nominates-official-involved-in-benghazi-scandal-for-promotion/ now this is a 3 for 1, you get a video of Cavuto of Fox news on WH nominates……then there`s another video from Ben Swann – Inspector General may need to interview(& re-interview) IRS agents again…….then its Jay Leno on Obama`s IRS scandel…… may just make it a free for all, since its your guess where gold/silver will go, either up or down, its the way the FED see`s to it, whether its a falling Dollar or shorting gold/silver will be a quick fix at a bullion bank……….Perhaps after the scandals are behind us and the crooks finally go to jail, just perhaps the present fraud in this paper market will finally get fixed. Since fraud seems to go hand in hand together, like they are married to each other……forever.

      May 26, 2013 26:13 PM

      Remember Ron Paul’s comment about the U.S. govt being a one party system?

      Big Al

    May 26, 2013 26:44 AM

    Segment 6: Interesting comments Roger. You were just about getting to the heart of the situation when you mentioned Japan but then a commercial break arrived. I am going to counter your assertion that QE cannot end and suggest instead that not only will it end but that it could arrive sooner than most expect. The Federal Reserve is going to seize upon the bond market troubles in Japan and the 2% inflation target there as it provides cover for an exit that might not otherwise arise. I anticipate bond redemptions in Japan will materialize as Treasury support in the US and that the rate curve will remain flat and intact here for a very long period of time into the future. The alternative to the Fed buying bonds and supporting Treasury markets with exceptional easing is that there must be a very deep and liquid market elsewhere that is in the throes of failure and will be shifting a large pool of funds to the security US markets. Enter the Japanese and the world is saved but at the cost of their economy there of course. What is critically important for the global economy (not just America) is that rates do not rise unexpectedly nor the curve shift too far off target….. nor move too quickly when the time comes. If the Fed wants an exit opportunity therefore it must strike while the iron is hot and keep its powder dry for when it is required further down the road. Hopefully no more intervention will be needed although almost nobody believes that is in the cards. A looming Yen currency conflagration provides the necessary opportunity for Fed withdrawal as pension funds, banks, insurers and investors in JGB seek higher ground and shift out of an asset class that looks poised for very troubling times. It is because of what is now unfolding in Japan that I am certain the QE’s to infinity will taper to an end but the exact timeline will be dictated by how unstable the Yen and JGB’s become. Of course the opportunities for making spectacular amounts of money now present themselves for those who are following this drama unfold and it is also my belief that at the end of the day you will want to left holding US denominated assets for long term security. Notice I do mention gold here by the way. The dollars reserve currency status is not therefore at risk. Far from it. We will see over time as first Japan and then China experience troubles in their respective financial markets that the last man standing will indeed be Uncle Sam and understanding this early on will benefit those who position accordingly before the real troubles begin.

    May 26, 2013 26:21 AM

    Interesting and insightful comments from Bob Moriarty. His comparisons to equity markets today and during the 1930’s are worth listening to twice. Where I differ is that while he is suggesting a huge upside for miners is coming he also seems to be saying that will happen as general equities have topped and are about to fall (if I understood him correctly). Perhaps he can elaborate later on why miners will participate in a huge bull market for gold exactly when the rest of the market is suffering a correction. I don’t get that connection and while I appreciate he is not prepared to offer a time frame we must acknowledge that during a typical stock rout that virtually every share sector takes a hit. In other words, more pain lies ahead for the resource group if his analysis is telling us that stock markets are due to correct. I think he is getting ahead of himself and from my own position I believe that while the time to invest more deeply is coming, that it has not yet arrived. First we will see a consolidation amongst the many issues that are out there and a cleansing of the juniors and startups. This could take longer than most hope. Gold and silver have not bottomed either. More downside lies ahead and if you look at the charts the trend for falling prices has not yet been broken. Nor will it for the foreseeable future. I remain on the short side as a result until evidence of a bullish trend materializes. Contrarians usually get beaten by the market and it is because they defy the overarching trend that they lose their money. It is only the few guys who managed to time the change successfully that succeed and when they do so it can be spectacular while bringing them both fame and fortune. Truth is, most contrarians get eaten alive and we never hear from them again and so contrarianism can just be another word for making a bad bet against bottom line sentiments. Right now those emotions say gold is going to fall. I will not bet against this herd.

    May 26, 2013 26:06 AM

    The general market looks like it setting up with a 1937 retail investor bull trap.

    http://stockcharts.com/freecharts/historical/djia1900.html

    You could say that we have reached all times nominal high in the DJIA which did not occur in 1936-37 and therefore a comparison between the 1929 relation to 1937-38 compared to 2008-09 compared to 2013-14 is out of bounds. However, the Bernanke’s rail against the 30’s relative monetary tightness has not been repeated. Eccles in the 30’s saw monetary policy taking a back seat to fiscal policy and government programs.
    Bernanke has firmly placed monetary policy in the drivers seat. Even grabbing the steering wheel to direct the debased currency to housing and the stock market. The new all time high today could go higher but the general market in a long term sense is exactly as Bob Moriarty described in mal-investment.

    May 26, 2013 26:47 AM

    It isn’t one world …

    Mumbai, May 24, 2013
    “The uncontrolled passion for gold must be contained,” Chidambaram said and reeled out data to show how increasing gold imports are hurting the Current Account Deficit (CAD).

    http://www.hindustantimes.com/business-news/WorldEconomy/Contain-uncontrolled-passion-for-gold-Chidambaram/Article1-1065559.aspx

    May 26, 2013 26:47 AM

    Irwin, that has always perplexed me, how can they have a deficit when they import money?

      May 26, 2013 26:04 AM

      Topic is way above my pay grade; money is only part of the equation.

      quote:
      ‘Current Account Deficit’ – Occurs when a country’s total imports of goods, services and transfers is greater than the country’s total export of goods, services and transfers. This situation makes a country a net debtor to the rest of the world.

      http://www.investopedia.com/terms/c/currentaccountdeficit.asp

      May 26, 2013 26:11 AM

      If the Gold bugs are correct about the metal then India is a Bull’s-eye for the bankster armies. It will be Libya gold confiscation kicked up a notch. India’s best protection of such an atrocity has been the dispersed nature of the private/temple hoards. When the banksters set their minds on this easy target the dispersed nature of holdings will worsen the atrocities required to confiscate the metal. India will be ironically right about their call in holding of the metal but because they did not hold the metal with the required security it will lead to their horror. Mumbai Nov. 2008 kicked up nationwide.

    May 26, 2013 26:13 PM

    Jerry, I find that sadly funny. I have to say I agree with Keiser. Hang them all and be done with it.

      May 27, 2013 27:15 AM

      Steady bemb, Wayne (see piece somewhere above) might not approve!! As for myself I might try some wriggle room to ask: Is hanging the same as murder?!

    Hal
    May 27, 2013 27:21 AM

    Al: one party system.

    I often joke that Congress is like the Harlem Globetrotters and Washington Generals. 2 teams and the outcome is guaranteed.

    On healthcare. I am on Medicare and 2 months ago I had a colonoscopy. From what I can tell by the blitz of paperwork my providers billed around 5,000 and are getting paid about 600.

    The 600 seems to be a little low to me to provide an incentive to have a staff and facility to do this procedure.

    I know my prescription drugs thru part d or whatever its called is a bargain to me.

    I do not feel too bad cause for 40 years I paid in the maximum to qualify for this insurance, but I also know the system is bk.

    Further, someone coming to this country say 15 years ago and paying into the medicare system at a lower pay rate and pay in rate gets the same benefits as I even thought they paid in less per year and for fewer years. And then I have to pay an upcharge because I earn more money.
    So the system is designed wrong from the get go and our screwed up elected leaders have done zero to fix it over literally decades when they knew of the problems.

    This country is going to go down hard because emotionally most are not prepared for it-it being the promises that were made and will not be kept.

    May 27, 2013 27:50 PM

    Hal – If you want an idea of what it may look like, I suggest “Argentina`s economic collapse” on youtube. I think it will be much worse though, with junior dart vaders at every street corner, to “keep us safe”, of course.

      May 28, 2013 28:44 AM

      Hal,
      You described the incentive killing flaw of collectivism.
      The quick highly productive skilled brick layer is paid exactly the same as the slow unproductive sloppy brick layer thanks to collective bargaining.
      The end result is quick highly productive skilled brick layer in a short span of time
      quick highly productive skilled brick layer works resembles the slow unproductive sloppy brick layer. After all what is the point producing if there is no reward.
      Who is John Gault?

    May 28, 2013 28:47 AM

    Intended

    The end result is in a short span of time the quick highly productive skilled brick layer’s work begins to resemble the slow unproductive sloppy brick layer’s work. After all what is the point producing if there is no reward.