You know the cliche, it's not over until the fat lady sings. I too would have answered dollar index at 40 and Gold north of $2000, but these things take time, how long? I don't know
All I can see is that the financial system has been set up in such a way that it is catastrophically fragile, sometime within the next 5 years, things at the start of a particular week will appear to be normal and by the end of it the world would have changed (i.e. world economic situation). There is only so much fecal matter that can be stored behind a fence on a steep mountain side before it all comes tumbling down making a mess of everything below it.
In reference to my Faber thing above, I really have to say that if in 2006, you were to have told the Weirmarians that the Fed would expand its balance sheet by $XX trillion dollars, and that it would begin direct purchase of Treasurys, and that the deficit would balloon to $1.5 trillion (or whatever it is now) and all the rest of the past 18 months, and then asked:
"Under this scenario, where do you think the dollar index will trade, gold will trade, and U.S. 10-year interest rates will be?"
They'd have had a cow, and said, something like, "Dollar index at 40, Gold north of $2,000/oz, and double digit 10-year rates."
Which would have been reasonable, arguably, ceteris paribus.
Except, this ain't ceteris paribus... which I think is creating blindspots for Faber.
Been trying not to to watch the markets too much,except for the limit orders on one closed-end fund have been trading.In the last 2 weeks I have flipped the same fund six times for a 30 to 60 cent profit each time (still trading at the same levels as 2 weeks ago).Sometimes the low floaters can work in your favor....
Still not going to touch equities for quite a while,the fund I have been trading is a muni fund and at least I will get the divvies if I screw up.
Just ordered the new I-Phone today so I can get live streaming quotes on the run,On these low floaters I can't blink for even a second.
NONE of what I type, should be taken as financial advice.
And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.
look a little longer, in the next time frame...looks like the last minor resistance, w/970 a big deal above
Prudence, indeed, will dictate that governments long established should not be changed for light and and transient causes, and accordingly all experience hath shown that mankind are more disposed to suffer, which evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations , pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security.
Gov. Arnold Schwarzenegger and legislative leaders agreed Monday to balance California's $26 billion deficit by cutting broadly across state government, shifting costs into the future and capturing funds from cities and counties.
"We came to a basic agreement, a budget agreement that of course has be ratified by the Legislature," Schwarzenegger told reporters. He said the final hours of negotiations were "like a suspense movie."
Despite the accomplishment, Senate President pro tem Darrell Steinberg said that "this a sober time."
"There isn't a whole lot of good news in this budget. We have cut, and we have cut in many areas that matter to real people," said Steinberg, D-Sacramento. "But I think we have done so responsibly."
Sure glad all my albums went GOLD. "Ferdy-bee-bee-dee-ferbs." Subscribe & Earn Karma Miles with Every Visit! Rule #5 Professional Exemption. Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion. "I too observe 'flation.'" I love you, TASR! YOU MAKE KITTY SCARED Tops Take Time Postulate A Free Lunch Economy Anyone, now, who is not genuinely afraid is a moran. [T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets) Guess again, girlfriend. Or, $2.7 million every effing day since the effing pinball machine. Permabear Hysterian
fer the record I is now 100% shert the fraudexes, since I got aSSigned on me naked callz Fri and bought in all me shert put hedges turday at hefty profits fer peanutz
I say let it all go straight ta livin'
I'm still holding a portion of my shorts....hoping to get out with a portion of my arse....I'm with you shorty!
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush