haspete's - someone let brutus out - wednesday, page-62

SLAMPOIL
I used to religiously read A E-P and his views on world finance, right back in the dark days of gold when he was one of about two (!!) commentators in the entire world who reckoned gold was a buy at $255oz....

There is no doubt that he has an extremely good handle on the GFC and the fall out in Europe, but lately (over the last 3 months) his views have become SO desperate, "end of days" stuff, that I'm afraid he has lost alot of credibility, in my mind.

The frustrating thing is that the UK has got itself in such a bear funk, that it is almost impossible for them to see the wood for the trees. I have recently returned from those parts, and even though the newspapers are full of negativity, London is still moving along nicely, the tourists are bringing their hard earned and property prices appear pretty stable. Even the equity market seems to be showing some life, thanks to QE.

Folks, let me tell you. The world will not end. Europe will eventually print money or do what ever is needed to fix the problem, and Equity Markets will resume their inevitable rise. And even if E A-P is calling for sack cloth and ashes and a diet of mungbeans for all, right now, he has to remember that its easy to fire shots at the political elite in Europe from the battlements. However, he would enhance his credibility no end if he were to actually offer a solution.

Pure sensationalist journalism from someone who knows better, frankly.