and dibs, RE: Elimination Communication is what i was talking about with those women who dangle their babies over sewers to pee! i had no idea until i read that article that they also let their babies shi+ all over the house lol.
quote:
Unemployment during the great depression peaked above 25%.
during the depression tho EVERYONE WANTED to actually work. the difference between now and then is that these days the people who sit on their asses all day with no intention of working and collecting benefits aren’t counted in the unemployment figures. i’d say conservately the REAL unemployment number is about 40%
Gotta pass through 10 to get to 25, DCB. It aint the equivalent of 1933 (that would be 2013) yet either. The deficit-spending-powered “recovery” temporarily interfered with the unemployment spiral and will only harden the blow. We should have just lived with an impulsive collapse. Now it will be slow but excruciating and with greater downside magnitude.
“And by the way, there was plenty of accounting chicanery then as well as now.”
My point. Add it to the list. It’s also called hiding losses from the public. Sooner or later they will ooze out. No recovery until that happens. There are investors on the wrong side of these bad debts. They are walking bankruptcies.
“By daveinbedstuy on June 9, 2010 11:08 AM
By donatella on June 9, 2010 11:05 AM
ETFs are backed by physical gold.”
Hey dibs, agree not all ETFs are backed but to my knowledge IAU and GLD are. Are their prospectuses lying? That would be an interesting indictment.
No you can’t get gold out of them but you get a correlation to the actual metal price, unlike just holding mining stocks which as someone pointed out above do not always correlate.
Anyway these commodity ETFs like UCO and the metals are partially responsible for the rise of the underlying commodities, like oil back in 2007, wouldn’t you say?
Not a gold bug myself but I do hold some IAU as a hedge.
“Sooner or later, and my guess is sooner, a new bull market is going to climb the ‘wall of worry’.”
I believe they call that a dead cat bounce.
***Bid half off peak comps***
No, they don’t. That is different. Stick to prognosticating about the level of prices in brooklyn brownstones. At least then you’re only wrong about one thing.
OMG, this may be the most boring OT ever!! ; )
and dibs, RE: Elimination Communication is what i was talking about with those women who dangle their babies over sewers to pee! i had no idea until i read that article that they also let their babies shi+ all over the house lol.
*rob*
quote:
Unemployment during the great depression peaked above 25%.
during the depression tho EVERYONE WANTED to actually work. the difference between now and then is that these days the people who sit on their asses all day with no intention of working and collecting benefits aren’t counted in the unemployment figures. i’d say conservately the REAL unemployment number is about 40%
*rob*
Gotta pass through 10 to get to 25, DCB. It aint the equivalent of 1933 (that would be 2013) yet either. The deficit-spending-powered “recovery” temporarily interfered with the unemployment spiral and will only harden the blow. We should have just lived with an impulsive collapse. Now it will be slow but excruciating and with greater downside magnitude.
“And by the way, there was plenty of accounting chicanery then as well as now.”
My point. Add it to the list. It’s also called hiding losses from the public. Sooner or later they will ooze out. No recovery until that happens. There are investors on the wrong side of these bad debts. They are walking bankruptcies.
***Bid half off peak comps***
There are lots of definitions of depressions and recessions.
One common definition of recession is 2 consecutive quarters of negative GDP growth
And an often used definition of depression is a 10% decline in GDP, as BHO said.
But we are nowhere near a 10% decline in GDP. And we are not seeing anything like the level of suffering that accompanies financial depressions.
There are still plenty of problems, but I am trying to keep the discussion real.
“By daveinbedstuy on June 9, 2010 11:08 AM
By donatella on June 9, 2010 11:05 AM
ETFs are backed by physical gold.”
Hey dibs, agree not all ETFs are backed but to my knowledge IAU and GLD are. Are their prospectuses lying? That would be an interesting indictment.
No you can’t get gold out of them but you get a correlation to the actual metal price, unlike just holding mining stocks which as someone pointed out above do not always correlate.
Anyway these commodity ETFs like UCO and the metals are partially responsible for the rise of the underlying commodities, like oil back in 2007, wouldn’t you say?
Not a gold bug myself but I do hold some IAU as a hedge.
BP (down $4.65 or 13% today) is taking a lot of flack about their filings with the government that are supposed to address their responses.
Additionally, the Coast guard has sent them a written ultimatum that deals with the way they are dealing with the capturing process now going on.
The stock has lost $94B in markey cap. It is 50% off from where it started.
If this were to go up 10%, THAT would be a dead cat bounce.
By Brownstones Half Off on June 9, 2010 2:14 PM
“Sooner or later, and my guess is sooner, a new bull market is going to climb the ‘wall of worry’.”
I believe they call that a dead cat bounce.
***Bid half off peak comps***
No, they don’t. That is different. Stick to prognosticating about the level of prices in brooklyn brownstones. At least then you’re only wrong about one thing.
“Economic definitions according to BHO.”
If only I could take credit.
“1) a decline in real GDP exceeding 10%, or 2) a recession lasting 2 or more years.”
http://en.wikipedia.org/wiki/Depression_(economics)
***Bid half off peak comps***