Gold price for the past 32 years. If you bought in 79, you lost money until recently and now you are breaking even. Had you bough gold in1998, that investment would have tripled.
Had you invested in the stock market, you would have made more over those 28 years 1979-2007..
I was suggesting gold because it might hold its value better than the US dollar which is dropping at a sickening rate and according to recent reports that the Fed is cutting rates will be dropping even more.
personally I think I will be buying British Pounds, as the Euro is said to take a small hit when the US dollar goes down more because it will cut US tourist spending in European countries. That and I think trading currency is easier and safer than gold .
[This message has been edited by FieroMonkey (edited 09-14-2007).]
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04:35 PM
jstricker Member
Posts: 12956 From: Russell, KS USA Registered: Apr 2002
Fine, John. What's your brilliant suggestion, then?
No brilliant idea, just pointing out that your generalization has a lot of holes. I know a HELL of a lot of people that bought gold ON THE WAY DOWN in '80 and thereabouts that lost their butts, so buying gold is not THE answer. You gave the example that an ounce of gold will buy a custom tailored suit. It won't. It did, at one time, but not now.
If something USED to be able to be traded for something else, even up, and now it can't, what does that mean? It means that thing has been DEVALUED. Not what you want as a hedge against inflation.
If you want to buy gold now, at prices nearing all time highs, be my guess. I personally don't like to buy at the highs. I'd rather sell there.
John Stricker
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06:25 PM
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
Originally posted by jstricker: Conn, Bill, and others have been preaching of how bla bla blah.
Wall Street's titans face the music It's no surprise that most brokerages are likely to report a decline in earnings next week. Investors want answers. http://money.cnn.com/2007/0...ngs_walkup/index.htm
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06:33 PM
jstricker Member
Posts: 12956 From: Russell, KS USA Registered: Apr 2002
For someone who thinks they know so much about a subject..........
Bonds generally trade inversely to stocks. When the Bond market is weak, stocks are strong, and vice versa. Posting that "Bonds give up gains on stock strength" like it's bad news is like saying "OMG, the world is ending, I went out in the rain and couldn't stay dry!!"
Generally people think that a cut in interest rates is a good thing. You know, lower mortgages, less overhead for business, that kind of thing.
If I'm going to fast for you Bill just let me know and I'll try to type slower, but it will have to wait till Monday because I'm outtahere.
For someone who thinks they know so much about a subject.......... If I'm going to fast for you Bill just let me know and I'll try to type slower, but it will have to wait till Monday because I'm outtahere.
John Stricker
Off your meds again Johnny?
Go beat off or something, we dont need your immature bullshit slinging here.
Originally posted by 84Bill: Off your meds again Johnny?
Go beat off or something, we dont need your immature bullshit slinging here.
You're the one being immature Bill...in case it needed pointing out. Telling someone to "beat off" just because they had the NERVE to correct your erroneous statement is the definition of immature.
The Bond Market and the Stock market are like a see-saw, you push one end up and the other end goes down. This is Finance 101.
You clearly have nothing to add to a discussion about the economy. And simply posting OTHER people's articles and incites does not make you knowledgeable on the subject. It does make you look like a sheep however.
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11:30 AM
fierobear Member
Posts: 27103 From: Safe in the Carolinas Registered: Aug 2000
Originally posted by Toddster:You clearly have nothing to add to a discussion about the economy. And simply posting OTHER people's articles and incites does not make you knowledgeable on the subject. It does make you look like a sheep however.
On the subject of the media, it's amazing how they try to scare the bejeezus out of you with headlines like "THE PRICE OF OIL THE HIGHEST EVER". No s**t, Sherlock. The price of EVERYTHING goes up over time. I guess it's just not as sexy an article if they reported that "THE PRICE OF PICKLES AT AN ALL TIME HIGH". And people buy into this hype. Amazing.
[This message has been edited by fierobear (edited 09-15-2007).]
You're the one being immature Bill...in case it needed pointing out. Telling someone to "beat off" just because they had the NERVE to correct your erroneous statement is the definition of immature.
Klodd, I made no such statements until AFTER Johnny started his associated name calling bullshit so common with the feeble minded masses.
quote
The Bond Market and the Stock market are like a see-saw, you push one end up and the other end goes down. This is Finance 101.
You clearly have nothing to add to a discussion about the economy. And simply posting OTHER people's articles and incites does not make you knowledgeable on the subject. It does make you look like a sheep however.
I dont give a rats ass about your opinions regarding the article. Argue with money.cnn.com and their editors. I'm just posting news links and nothing more.
[This message has been edited by 84Bill (edited 09-15-2007).]
Greenspan speaks In a new book, the former Federal Reserve chairman reveals who were the smartest presidents he worked with and where some administrations have gone wrong. http://money.cnn.com/2007/0...ok.fortune/index.htm
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07:52 PM
Uaana Member
Posts: 6570 From: Robbinsdale MN US Registered: Dec 1999
Asia Pacific & Australia Index Change %Change Level Last Update *
Australia ASX 100 -61.10 -1.21% 5,009.30 9/18 5:00pm Australia ASX All Ords -75.70 -1.20% 6,208.00 9/18 5:00pm Australia ASX Mid-cap 50 -87.50 -1.36% 6,329.50 9/18 5:00pm Hong Kong Hang Seng -22.49 -0.09% 24,576.85 9/18 5:59pm Hong Kong HSCC Red Chip +0.17 +0.00% 4,953.78 9/18 4:25pm Japan Nikkei 225 -325.62 -2.02%
Recession: What the cut won't do Even with the deepest rate cut in nearly 5 years from the central bank, many of the risks for the U.S. economy are beyond its reach. http://money.cnn.com/2007/0...sion_risks/index.htm
Lehman sits on the hedge The investment bank's earnings announcement boosts its stock, but Fortune's Peter Eavis wants to know why Lehman wasn't hit harder by the credit crunch. http://money.cnn.com/2007/0...an.fortune/index.htm
Interest rates slashed to help economy Fed's dramatic action lowers target on key short-term rate for the first time in 4 years - to 4.75% - and signals more cuts could be coming. http://money.cnn.com/2007/0.../fed_rates/index.htm
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06:41 PM
jstricker Member
Posts: 12956 From: Russell, KS USA Registered: Apr 2002
If everything is so bad, why is my NYL savings acct (mutual fund) pounding out serious gains. Why is my crappy 401k (mass mutual) still breaking inflation and then some.
Why am I having no problem getting a loan to buy a house on 4 acres in the middle of nowhere. I know there are some bad stories on the economic front, but I'm not seeing the real world pains of it. Of course, I actually read and thought about the contract before I signed it..... maybe that's why I'm not in trouble....hint hint.... my feelings towards the forclosure problem mostly brought about by ARM's.
Things may not be perfect right now, but come on. How about some info from someone who actually has experience and knows what they're talking about. I would welcome that. I'm sick of hearing from those who get all their info from the lib media. I can hear all this crap on CNN.
[This message has been edited by ditch (edited 09-18-2007).]
If everything is so bad, why is my NYL savings acct (mutual fund) pounding out serious gains. Why is my crappy 401k (mass mutual) still breaking inflation and then some.
Why am I having no problem getting a loan to buy a house on 4 acres in the middle of nowhere. I know there are some bad stories on the economic front, but I'm not seeing the real world pains of it. Of course, I actually read and thought about the contract before I signed it..... maybe that's why I'm not in trouble....hint hint.... my feelings towards the forclosure problem mostly brought about by ARM's.
Things may not be perfect right now, but come on. How about some info from someone who actually has experience and knows what they're talking about. I would welcome that. I'm sick of hearing from those who get all their info from the lib media. I can hear all this crap on CNN.
Actually there have been many very good posts in this thread. In fact a couple of thirteen pages of it. Not that any of the chicken little's will ever believe things are doing well. Just look at who the doom criers are and it becomes crystal clear, It's always the little guy who can't afford it getting screwed by,,, well,,,,the rest of us that are still doing well because we do instead of complain and read things before we sign and do not live beyond our means.
For the next year there will be a full court press to convince everybody that their life is in the toilet, One guess who will be doing it,,,,again,,,, for the same reasons they always do it.
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03:26 AM
fierobear Member
Posts: 27103 From: Safe in the Carolinas Registered: Aug 2000
For the next year there will be a full court press to convince everybody that their life is in the toilet, One guess who will be doing it,,,,again,,,, for the same reasons they always do it.
Originally posted by Red88FF: Actually there have been many very good posts in this thread. In fact a couple of thirteen pages of it. Not that any of the chicken little's will ever believe things are doing well. Just look at who the doom criers are and it becomes crystal clear, It's always the little guy who can't afford it getting screwed by,,, well,,,,the rest of us that are still doing well because we do instead of complain and read things before we sign and do not live beyond our means.
For the next year there will be a full court press to convince everybody that their life is in the toilet, One guess who will be doing it,,,,again,,,, for the same reasons they always do it.
I think alot of it is also that the "job security" is not exactly what it used to be. with outsourcing/specialization - the scope of a job is VERY narrow. this makes the qualifications for a job less demanding, which in turn means less pay. and, also - you MUST - MUST - have more to offer than a high school graduate. there is a fresh batch of high schoolers every year - and they need work too. this is what I am trying to hammer into my daughters head right now. if you dont improve yourself - your job now - is your job when you are 30. its all you from here. yes, being young & pretty - things are VERY easy for her right now. hope she makes the most of the opportunities thrown her way. so far - eh...she's as lazy as her parents...
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09:23 AM
aceman Member
Posts: 4899 From: Brooklyn Center, MN Registered: Feb 2003
Bill, why didn't you post your usual World Markets Report? Oh, I see that they were UP and by more than a POINT 3 %
Bill, why not post yesterday's U.S. Market numbers or why not post the current market numbers from this morning? Oh, I see that they were up and by more than POINT 3%
YING AND YANG, BILL!
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09:38 AM
Toddster Member
Posts: 20871 From: Roswell, Georgia Registered: May 2001
Did the Fed go too far? Wall Street loves the half-point rate cut as many believe it will keep the economy from slipping further. But some worry the Fed may have created more problems. http://money.cnn.com/2007/0...esreaction/index.htm
The fall of America's meanest law firm Schulman, a former name partner at Milberg Weiss, is expected to plead guilty to a single racketeering conspiracy charge and to assist the prosecution, according to lawyers in the case. http://money.cnn.com/magazi...13/8393127/index.htm
Whatever, Why dont you grow tomatos or find something more useful to do with your time.
In other words is there anything other than 84Bill you can complain about or is that your sole purpose for existing on PFF?
Just pointing out that you hadn't posted your daily doom and gloom on the economy. Why? Because there wasn't any!
The growing season is over up here, Bill. Maybe you could grow some tomatoes down there in Florida and that might take off some of the burden on your local food shelf. With tomatoes you can make tomato soup, fried green tomatoes, tomato sauce, eat them whole, stewed tomatoes. Why Bill, you could start growing a lot of tomatoes and get this economy kick started by opening up........
