|
All the big kids should be back at work this
week. The vacation season is officially over with the Labor Day
week-end. Of course those that like Palm Springs, there the season is just
beginning, but few NY traders hit the springs.
The following is a quote from the London
Reckoning. "Treasuries should get shellacked now that Bush has proposed
the nationalization of the subprime market" by Dan Denning.
The government says that there is no inflation or
that it is within its guidelines, but there is a double digit rise in the cost
of living. With the Debt created by the Iraq war and now that there is a
proposal to cover the subprime problem by the government the only answer is to
inflate. Payoff the debt not with what is left of the dollar,
but pay it off with even cheaper dollars. Remember what happened
after the Vietnam war and the payment of that debt. So if you
believe that this is true then the only place to invest is in hard assets such
as gold, silver, and even in real estate. I remember interest rates in the
high 20% range and the question is will gold and silver take out the old highs
from those years. I will do some work on gold later in the day.
.
__._,_.___
![]()
__,_._,___
|