Comments on: 2009: Another Year of Shock and Awe http://dailyreckoning.com/2009-another-year-of-shock-and-awe/ Economic News, Markets Commentary, Gold, Oil and Investing Strategies. Thu, 24 May 2012 16:06:49 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Did I Hear Correctly, Republican Senator Graham Speaks Of Nationalizing Banks? — But As For Me http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-609 Did I Hear Correctly, Republican Senator Graham Speaks Of Nationalizing Banks? — But As For Me Mon, 16 Feb 2009 11:41:38 +0000 http://dailyreckoning.com/?p=11480#comment-609 [...] 2009: Another Year of Shock and Awe [...] [...] 2009: Another Year of Shock and Awe [...]

]]> By: Anonymous http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-599 Anonymous Mon, 16 Feb 2009 01:30:32 +0000 http://dailyreckoning.com/?p=11480#comment-599 How will farmers come out of this? I grow corn wheat and beans. Will my business still be viable in the future? How will farmers come out of this? I grow
corn wheat and beans. Will my business
still be viable in the future?

]]> By: singas http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-596 singas Mon, 16 Feb 2009 00:56:12 +0000 http://dailyreckoning.com/?p=11480#comment-596 Imagine living with such a negative outlook. This character must go home each night, kick the bejesus out of the Cat and pull the wings of flies. Its a depression the world is comming to an end !! I told you so ... the same idiotic comments from the people who brought you " Y2K and why the world will end in 2000". Lets all pack our bags and join the author of the drivil in Jamestown and take a long pull of the Red cordial ! I really stopped reading this apisle of doom after this gem : " The bankruptcies will be painful, but a good thing, incidentally. We can’t hope to see the bottom until interest rates go high enough to encourage people to save." 1. There is a human element to bankruptcies, its someone having a go with their capital to make their life better for themselves and their family. Its the foundation of Capitalism. 2. Funds saved in Banks should be discoraged - the inefficant use of Capital not put to work in creating enterprise will create an dead economy. Look to Japan - an economy of the best Savers in the world - its been dead for Ten years! Shelve the negativity and encourage business - its the life blood of the economy ! Imagine living with such a negative outlook. This character must go home each night, kick the bejesus out of the Cat and pull the wings of flies. Its a depression the world is comming to an end !! I told you so … the same idiotic comments from the people who brought you ” Y2K and why the world will end in 2000″. Lets all pack our bags and join the author of the drivil in Jamestown and take a long pull of the Red cordial !

I really stopped reading this apisle of doom after this gem : ” The bankruptcies will be painful, but a good thing, incidentally. We can’t hope to see the bottom until interest rates go high enough to encourage people to save.”

1. There is a human element to bankruptcies, its someone having a go with their capital to make their life better for themselves and their family. Its the foundation of Capitalism.

2. Funds saved in Banks should be discoraged – the inefficant use of Capital not put to work in creating enterprise will create an dead economy. Look to Japan – an economy of the best Savers in the world – its been dead for Ten years!

Shelve the negativity and encourage business – its the life blood of the economy !

]]> By: effor http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-530 effor Sat, 14 Feb 2009 01:45:11 +0000 http://dailyreckoning.com/?p=11480#comment-530 Thanks for putting this out there for everyone to see Doug. I know people (including you) who have been warning of this for years, and we were laughed at in 2005. But no more. I agree that the dollar is going to zero - or at least close enough to be effectively zero - and I'm with John Crowe in that I've been buying physical silver. As much as I can afford each month. I wish I had the money to do that with gold, but with Eagles going for around $1000, I'd have to purchase the smaller coins and they carry a very high premium. In regards to The Swiss comments about platinum, my response is that platinum may prove to be very hard to exchange for goods when the you-know-what hits the fan. In my opinion, gold and silver are more recognizable and hence more liquid. Great article - I quoted part of it in a post on my blog at: http://www.effor.com/blog/index.php/2009/02/13/2009-shock-and-awe Thanks for putting this out there for everyone to see Doug. I know people (including you) who have been warning of this for years, and we were laughed at in 2005.

But no more. I agree that the dollar is going to zero – or at least close enough to be effectively zero – and I’m with John Crowe in that I’ve been buying physical silver. As much as I can afford each month.

I wish I had the money to do that with gold, but with Eagles going for around $1000, I’d have to purchase the smaller coins and they carry a very high premium.

In regards to The Swiss comments about platinum, my response is that platinum may prove to be very hard to exchange for goods when the you-know-what hits the fan. In my opinion, gold and silver are more recognizable and hence more liquid.

Great article – I quoted part of it in a post on my blog at:
http://www.effor.com/blog/index.php/2009/02/13/2009-shock-and-awe

]]> By: Effor.com » Blog Archive » 2009 Shock and Awe http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-529 Effor.com » Blog Archive » 2009 Shock and Awe Sat, 14 Feb 2009 01:23:39 +0000 http://dailyreckoning.com/?p=11480#comment-529 [...] read this a few minutes ago from yesterday’s DailyReckoning.com.  It’s an excellent article by Doug [...] [...] read this a few minutes ago from yesterday’s DailyReckoning.com.  It’s an excellent article by Doug [...]

]]> By: John Crowe http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-515 John Crowe Fri, 13 Feb 2009 19:59:47 +0000 http://dailyreckoning.com/?p=11480#comment-515 Doug Casey, It is refreshing to find someone who has their head on straight. If when you say the dollar is going to reach it's intrensic value, you mean zero, I will agree with that. Gold is out of my league, so I am involved with silver (the actual hard metal). I don't know much about gold stocks but I do think shares in mines are good, if you pick them correctly. Doug Casey,

It is refreshing to find someone who has their head on straight.

If when you say the dollar is going to reach it’s intrensic value, you mean zero, I will agree with that.

Gold is out of my league, so I am involved with silver (the actual hard metal). I don’t know much about gold stocks but I do think shares in mines are good, if you pick them correctly.

]]> By: The Swiss http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-500 The Swiss Fri, 13 Feb 2009 13:58:31 +0000 http://dailyreckoning.com/?p=11480#comment-500 Sir, Platin had , incredibly(!) the same price as gold in october and has since outperformed by mor than 10%. No onder. Platin, not Gold, is the cheapest thing in the world. It was already at $ 2400 so people are used to that level - gold beyond $ 1000 is still uncharted and psochologically difficult turf. Pt is nobler than gold, 10% heavier and 10 times rarer. And there a no huge stocks of it sitting in the Fort Knoxes which can be thrown on the market. Car production is down and this is prized in by it's recent fall of 70%. If car sales (industrial use will pick up, which it will, this will add more to the sprint in pt prize. The crowd's buying gold - the smart guy PLATIN. Sir, Platin had , incredibly(!) the same price as gold in october and has since outperformed by mor than 10%. No onder. Platin, not Gold, is the cheapest thing in the world. It was already at $ 2400 so people are used to that level – gold beyond $ 1000 is still uncharted and psochologically difficult turf. Pt is nobler than gold, 10% heavier and 10 times rarer. And there a no huge stocks of it sitting in the Fort Knoxes which can be thrown on the market. Car production is down and this is prized in by it’s recent fall of 70%. If car sales (industrial use will pick up, which it will, this will add more to the sprint in pt prize.
The crowd’s buying gold – the smart guy PLATIN.

]]> By: Francis M. Weld http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-483 Francis M. Weld Thu, 12 Feb 2009 23:52:19 +0000 http://dailyreckoning.com/?p=11480#comment-483 Doug, you and I are on the same page for the very long term. What worries me is the probable strength of the USD over the next 1-2 years. Your thesis rests on self destruction of USD via unrestricted printing. But every country is printing like a bandit in order to stimulate its economy. This is a worldwide boxing match. And despite the flooding of markets with money, prices are going down for the next year or two, not up. Maybe gold will continue higher, maybe not, but for sure in 2009 we are staring lower prices for most goods in the face. As you say, timing is the key. (When was it ever not??) Since there is so much pain to come, why not put in lowball bids on precious metals stocks, and lowball bids on short equity ETFs at the same time? Then sit back and smile. Doug, you and I are on the same page for the very long term. What worries me is the probable strength of the USD over the next 1-2 years. Your thesis rests on self destruction of USD via unrestricted printing. But every country is printing like a bandit in order to stimulate its economy. This is a worldwide boxing match. And despite the flooding of markets with money, prices are going down for the next year or two, not up. Maybe gold will continue higher, maybe not, but for sure in 2009 we are staring lower prices for most goods in the face. As you say, timing is the key. (When was it ever not??) Since there is so much pain to come, why not put in lowball bids on precious metals stocks, and lowball bids on short equity ETFs at the same time? Then sit back and smile.

]]> By: Whatever http://dailyreckoning.com/2009-another-year-of-shock-and-awe/#comment-475 Whatever Thu, 12 Feb 2009 21:31:52 +0000 http://dailyreckoning.com/?p=11480#comment-475 Okay, you've put the fright into me. But one major question, what about silver as an alternative for some of us who are having a hard time coming up with $900 for an ounce of gold? Is it possible silver can also be a good hedge against the impending inflation triggered by the government's misguided battle (an economic Iraq war) against this "Greater Depression?" Even "junk silver" could help put food on the table when purchasing such items through the impending black market, yes? These truly are the times that test our souls (and pocket books). Okay, you’ve put the fright into me. But one major question, what about silver as an alternative for some of us who are having a hard time coming up with $900 for an ounce of gold? Is it possible silver can also be a good hedge against the impending inflation triggered by the government’s misguided battle (an economic Iraq war) against this “Greater Depression?” Even “junk silver” could help put food on the table when purchasing such items through the impending black market, yes? These truly are the times that test our souls (and pocket books).

]]>