Philly Jim

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  • Gold Bulls: Beware
    Are you suggesting that these ETF funds may go under and their storage of physical gold means nothing? Dude, the 2nd shoe is dropping, the money spicket is turned off for America, nations around the world are increasing their gold reserves and the paper money promises are just that, no matter how much political "racketeering&quo... goes on. If the world economy was a jet, it would be an aging 1970's airliner with torn seats and sputtering engines filled with 70 yr olds on their way to retirement. The world bankers are gonna place their bets on China unless the U.S. proves to be more dynamic and secure. Until then, gold in your safe is good but so are ETF's that can be sold in a few seconds.
    Oct 02 08:09 am |Rating: 0 0 |Link to Comment |View article
  • The Government Sees Rescue as Profitable, But Why?
    The economy needs two things right now.

    1. Stabalize existing home prices. (Prevent oversupply)
    2. Introduce new industries/technologie... (90's proved capital investments in our economy and adaptation of new technologies serve as significant catalysts towards Federal surpluses and worker productivity.

    Aside from those two things, getting a leader in the Whitehouse with a positive vision for America and the world is critical at this point in time.
    Sep 29 01:11 am |Rating: 0 0 |Link to Comment |View article
  • JPMorgan and the Concentration of Risk
    The risk was already consumed by the banks being taken over, now they are being eaten up by the bigger banks for a bargain, the whole idea of consolidation into just a few mega banks is manifesting from this credit crisis. When loans were being given to people for hundreds of thousands of dollars after they had just recently filed bankruptcy (2003-2005), you have to wonder, who gave the green light on these subprime loans? It didn't come from the bottom, it came from the top. Interest rates slashed to their lowest, and at the same time free money without a down payment for people with horrible credit and you try to tell me this financial crisis wasn't anticipated? Perhaps a grand opportunity to operate in a new highly competitive global environment without worrying about paying taxes on profits for years, and being able to acquire good assets for pennies was the ultimate plan?!? Maybe it is something that needs to be done to prevent communist owned banks from taking over the world with all their concentrated wealth, how can the West compete with thousands of little banks spread out over an ideal capitalist society?
    Sep 26 14:28 pm |Rating: 0 0 |Link to Comment |View article
  • Regardless of a Bailout, US Economy is Decelerating
    Multinational corporations. They could care less about national security and the goons in D.C. are now all bought and paid for. These bail outs will only increase the load the backs of the working class who already pay to house and fee criminals and the lowest members of society. We are screwed no matter who gets in office. If Obama gets in, the working class families will bear more burden of carrying the scum of society and if McCain gets in, Harvard and Yale criminals will run wild for another 4 years, robbing the nation of all they can.
    Sep 26 06:01 am |Rating: 0 0 |Link to Comment |View article
  • U.S. Banking Crisis Turning Global
    I feel as though we are in a state of delirium, where half-conscious decisions are being made by half-conscious individuals. I hope the dreamy movements we are witnessing in the markets are with wise intentions to bolster/secure America's standing in the world so as not to be forced to succumb to an alternative to the ideology of freedom and the existence of an ecological equilibrium in exchange for productivity and "glorious" money. I would bow before Bush any day rather than be told what I can and can't read or be told I can only have one child. I'm willing to sacrifice to maintain this state of existence we have now, the 1 trillion dollar bailout must be part of these good intentions because I highly doubt the U.S. military would allow such robbery of the treasure if it were not needed to maintain our security in the world. Oh, and heads up on Asia, you think Americans are bad at paying back debts, ha ha ha ha, oh boy will this be interesting! Wow! That will be the real catalyst to push gold to 2k.
    Sep 23 03:08 am |Rating: 0 0 |Link to Comment |View article
  • Throw Bailout Money at the Causes, Not the Symptoms
    This country has been gutted during the Bush admin.

    These are the type of people that give disgusted looks when they have to drive through a working-class neighborhood and get out and shake their hands before elections.

    Remember the savings & loans collapse of the 80's? They learned from that and took it to an extreme this round. Foxes guarding the Hen House.

    Now we have Mr. Closet extremist liberal Obama or the old and confused radical right McCain to pick from to finish the job. Oh man, our founding fathers gotta be screaming treason by now.
    Sep 20 21:50 pm |Rating: 0 0 |Link to Comment |View article
  • Preserving U.S. Economy Over Free Markets (Short Sellers)
    The slogan of "free market capitalism" with minimal oversight/regulation has only proven to the American people how quick thieves could raid their nation's savings and place them in serious jeopardy - by enriching and empowering their enemies with oil dollars and trade surpluses. Congress was reluctant to raise an eyebrow when these banks were being "creative" with their financing and sales techniques, they were lazy to raise a hand when the nation was screaming for clean energy and now look at the mess we are in. China is becoming more powerful and has utilized and integrated technology into their economy. This is all placing the United States of America in an extremely precarious situation. Multinationals like General Motors and Ford are quick to now offer the latest technology to China and Europe rather than the old dog America, they have no allegiance, nor do these multinational banks that are all begging for a handout from the American people after their mistakes. What about all the assets they bought overseas with American dollars? Why aren't they being forced to sell off those assets to pay for their mistakes made here? Are American really this stupid or just too busy working to death to pay for all the taxes placed on their heads to worry about banks and international debts.
    Sep 20 21:41 pm |Rating: 0 0 |Link to Comment |View article
  • Armageddon Postponed
    Weird stuff going on! I guess the Bush going away party is starting to have national security implications and they needed to stop it prematurely. We made it through the first Bush savings & loan scam in the 80's and I'm sure the American people will get through this one.
    Sep 19 13:13 pm |Rating: 0 0 |Link to Comment |View article
  • What Should the Government Do About AIG?
    Two of the biggest drains on the U.S. GDP - Welfare, Prisons. ...The benign element must be controlled before spreading further and destroying the whole. This money could be used to help businesses and invest in research and development and keep the U.S. ahead of the curve. Subprime.
    Sep 16 09:06 am |Rating: 0 0 |Link to Comment |View article
  • Lehman Is Just the Thin Edge of the Wedge
    We will all be using the Communist's bank of Russia or China in a few years at this rate. I hope they have a plan..........
    Sep 16 08:25 am |Rating: 0 0 |Link to Comment |View article
  • Who's Going to Bailout the U.S. Government?
    Not who but what will save the gov...wwiii...wait for the Asian bubble to burst, I think I may add to my gold position while it's down.
    Sep 12 04:01 am |Rating: 0 0 |Link to Comment |View article
  • The Great Dollar Pump of 2008: A Doomed Central Bank Intervention
    The economic environment is more attractive in the United States than any other nation and the rest of the world is not doing as well as the media & hedge funds would have you believe. The Germans are the only drivers of EZ economy and they are getting fed up with being a part of the E.U.. As for Asia, you can still buy kids wholesale in throughout the region, women are a commodity and despite their adaptation of the iphone and skyscraper, don't kid yourself, they will never be America - and the financial crisis has barely begun in Asia, they are still selling the idea of credit and when those debts are called in, the ceiling is gonna fall in on that region of the world; the only money supporting them has been burned up by subsidies and speculative smart money investors have figured this out, just check out the outflows - the rest will be stuck on the squat toilet.

    There's no place like home, no place like the U.S.A.. Even the idea of hedging that bet with commodities is subject to extreme volatility. The dollar should fundamentally be inverted to the pound, loonie, aussie, etc... but because they are an allies and we need them to be strong, their currency and economy are allowed to inject with financial steroids every now and then. Stay with the dollar long-term, ride the speculative waves but in the end, you know where it is safest.
    Sep 07 15:57 pm |Rating: 0 0 |Link to Comment |View article
  • Is Gold Getting Ready to Bounce?
    If anything is decoupling from the dollar, it's metals. The fundamentals are telling us metals are going to be the only reliable investment vehicle in the future and watch as central banks scramble to stockpile more gold in the coming decades as their populations and problems mount and paper and promises become worthless. The dollar should remain the global bull currency until the majority of the nation becomes welfare dependent - which if you look at census demographic changes and population projections, "the proof is in the pudding." The USA is in a slow morph into society far from what made it great in the world. We've gone from sleeping with your doors unlocked to sleeping with a shotgun under your bed and metal cages around your windows thanks to bleeding heart policies and a lack of "balls" from the likes of Joe Biden and Bill Clinton to say what's really on their minds for fear of upsetting the soon to be majority voting bloc in America. It's a shame that the same thing is happening across Europe and Russia, populations of highly productive, civilized segments of society are plummeting as the wealth is distributed (welfare) to support the burgeoning minority populations. Go rent the movie "Idiocracy" if you haven't already seen it for an idea of what the world will look like at the rate we are going.
    Sep 07 12:50 pm |Rating: 0 0 |Link to Comment |View article
  • What Will Fannie / Freddie Mean for Monday?
    Rally on Monday? Um...hmmmm, you mean like rally down to $0.30?
    Sep 07 12:22 pm |Rating: 0 0 |Link to Comment |View article
  • Ominous for the Globe but Good News for Oil Bulls
    Money trumps ideology, this truth does not exempt Putin. Russians know what is it like to have money and are not about to let their new wealth be squandered because of some ideology - they want to be and stay in the capitalist system.

    As for peak oil theory, I'd have to say this weapon against the masses is more futile than Herbert Spencer but don't count of Chavezism to save us all. Capitalists need something new to replace oil and until it proves profitable long-term, we are stuck burning it. Remember, capitalism and multi-national corporations owe zero allegiance to any nation and could care less who is profiting/hurting and what they are doing with their profits from oil. So, to jump start the transition, we definitely would need real political leadership and tough action.
    Aug 30 06:38 am |Rating: 0 0 |Link to Comment |View article

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