chud wrote: I even posted a link to a graph on the Fed's web site some time ago here on EF showing that the banks had no reserves (in fact, negative reserves) but it was dismissed by some (*cough* Teazer *cough*).
It's a fair cop! The negative values might be dodgier than the Fed explanation made out. That said, the problem in the market hasn't been with the depository banks which you cited, in fact they're the ones that have been going around buying up the investment banks (which aren't, or at least weren't, depository institutions)
http://www.emptyflower.com/phpBB3/viewtopic.php?f=7&t=780Still no sign of that collapse of the dollar though, or the hyperinflation. Plus I hope your planning on keeping gold for the long term since that buy recommendation back then isn't looking so good now.
Jake wrote:Guy back in March predicts everything that's happened recently.
Okay, so I made a list. He did good in a few respects. I thought mentioning the big rallies in the bear market was particularly good.
great depression?
Too early to tell. It has certainly sucked so far but depression would a whole lot worse. Dow jones ->7-8000, S&P ->6-800 by feb 2009
Not yet, but there's still time!long term -> debt can't get paid back
No sign of it yet, but interest payments will be a lot higher in the future for sure.Baby boomers retiring -> draining the healthcare & soc sec funds, pulling money out of retirement accts -> crash 2012
Well, they'll be taking money out over time, but I suspect a lot of them won't retire as early as they hoped.
crash this year
Check!hyperinflation this year
Not even closewithin 60 days gas =$4
Check! But it was already at $3.66 in some places at that time within a year oil ->175+
Not yet. The highest it reached so far was 150. His prediction was when it was 110 and it's way down from there now.gold ->1500 -2000
Not close. It got to its peak in March @1000 & then went down. Now it's at $722 http://www.monex.com/images/charts/GBX_ ... AY_BIG.PNGmarkets won't recover after summer '08
Can't say, but ok so farbear market with violent rallies 400 up days
Check!Eu = $1.75 after summer 2008
It was at 1.57 when he made his prediction. Got up to 1.60, now its back down to 1.28Unemployment will get worse. numbers manipulated.
Check! It increased. Not a huge surprise though.cpi & inflation numbers dodgy
As I mentioned before, you can get the market's view on inflation using the difference between the regular treasuries & the Tips rate. So that's incorrect for starters. CPI has always overstated inflation numbers by about 20% so if anything it's lower than that would saystore up on food
Always a good idea to have a bunch of non-perishables and a considerable amount of drinkable water on hand. switch to silver/gold/euro/yuan etc
To the extent they add to a balanced and diversified portfolio, sure. But the prices are pretty good at internalizing the market's information, so don't expect to get much beyond added risk. consumer based economy collapses
I have considerable faith in the ability of the US population to buy stuff. Still, early days as yet. It'd be refreshing if that's the case.dollar will collapse
As mentioned, so far nope. hyperinflation
Also nope. Not even close.
Why does man Kill? He kills for food.
And not only food: frequently there must be a beverage.