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B4 The Bell Wednesday Septemeber 8


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Amazing to me that Congressional questions and public criticism of Greenspan largely have nothing to do with the "Federal" Reserve...he may be a liar and a fool, but his mandate is to protect the banking system, which, by way of the carry trade, he has done very well...the fact that in so doing he has helped bankrupt the nation and beggar the world is just added emphasis for those who seem even at this late date to deny that mandate...they do not care about you...they live as long as they can as well as they can, and devil take the hindmost...

 

But hey, how about that TASR...takeover rumors kicked the shorts right in the cajones this morning...

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while at the gym watching AG speak, it struck me that the 25% LT cap gains rate (CA state & Fed) may be the lowest ill ever see from this date forward.

Yes. The historical perspective from this article will totally confirm that for you ... marginal rates on income have been as high as 94%. We are closer to an historic low in tax rates, than an historic high:

 

Origins of the Income Tax

 

So ... doing exchanges to defer capital gains might not pay, if the cap gains rate goes back to 50% or more in the future.

 

Gov't at all levels has a HUGE fiscal problem. Tax rates can ONLY go up.

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Mumbles continues to wrap the rope around his neck:

 

"if it wasn't for the spike in oil prices, I would be much more optimistic about the economy at this point"

 

When the bear market resumes with a vengence that phrase will come back to haunt him.

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The bearishness everywhere on the metals is at ATHs

Is there anyone here, who likes silver or gold, right here right now?

The PMs are at bargain basement prices. Risk/reward looks pretty good IMHO.

 

At $400 Gold and $6.20 Silver I'm a buyer of both. At $360 Gold $5.50 Silver I'm a rabid buyer of both. B)

 

Stocks, alas the poor beaten up juniors, are another story. Nothing that a $USD breakdown won't fix though.

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Actually if you are watching carefully- Greenspan is saying in his foggy way we need or a return to fiscal resposibility or we are fooked-PEGO has been used a dozen times. The Repubs look like idiots, Greenie is scared shitless, I think this hearing just puts a torpedo in the water aimed right at Shrub and Cheney! ;)

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