Sirdean
Yeah it can get stiffling under this gas mask - lot's of hot negative air in Gold atm - sounds bullish to me in the med - long term. lol
CT
Recovery in the US? What recovery? Recovery is when there is renewed growth not just some spin about a bottom being reached. House sales - what like this comment?
http://www.investmentpostcards.com/2009/07/29/picture-du-jour-us-housing-%E2%80%93-better-days-ahead/
Ron Wilson says:
July 29th, 2009 at 5:17 pm
As a realtor in the Chicago area, what people need to understand is that the only activity in the market is at the $150K and below market where people are picking up bargins - bottom fishery. There is almost no activity, listing or sales in the higher priced markets. It doesn’t look like a bottom yet from here. The commercial is even worse. Newsmedia is doing their usual sunny expectations review for a very corrupt set of politicans.
Is unemployment fixed in the US? Is there job growth? Have toxic assets been realised (ask an accountant)? Are company earnings reflective of growth or mere cost cutting? Why are the number of failed banks growing? Why are the reserves of big banks growing? What about commercial real estate, credit cards and Option Arm recasts and resets? No they have patched the patient up and sent it back to battle but severely wounded it will be back in for more emergency surgery.
It's amazing what a bit of band-aid and change in patient psychology can do. I read somewhere that Keynsian economics could be described as positive psychology economics - which means that if enough people trust in and feel positive about the economy and investments, things will be good, and vice versa. This is why Bernanke and his cronies have worked so hard in preserving the +ve spin.
In Austrian Economics psychology and public confidence causes short term up and downs but the real health of the economy and the value of investments depends on their fundamental value, no matter what the psychology of the people.
To quote Gerald Weinberg: “It may look like a crisis, but it’s only the end of an illusion.” ATM one illusion has been replaced by another - it ain't over yet for nothing has been fixed. The patient is walking around with a drip of warfarin waiting........
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