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Post by unlawflcombatnt on Sept 14, 2012 11:52:38 GMT -6
Talk about massive, rapid dollar devaluationThe Euro has gone from $1.22 to $1.31 in just a couple of weeks. Gold has increased in value over $100/oz in the last 1-2 weeks. Platinum has increased in value over $200/oz in the last several weeks. Way to go Benny! Doin' a heckuva job! Nothing like paying $40 billion/month of MBS's that are actually worth less than $20 billion.
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Post by jeffolie on Sept 14, 2012 12:31:52 GMT -6
Talk about massive, rapid dollar devaluationThe Euro has gone from $1.22 to $1.31 in just a couple of weeks. Gold has increased in value over $100/oz in the last 1-2 weeks. Platinum has increased in value over $200/oz in the last several weeks. Way to go Benny! Doin' a heckuva job! Nothing like paying $40 billion/month of MBS's that are actually worth less than $20 billion. I agree ... Ben devalued the Dollar indirectly with $1.17 T per year monitizing forever or until the employment reachs 'full employment' whatever that might mean to the FED....essentially monitizing 50% of the Deficit by some calculations per year. Already, the Type 2 consumer, 80% of incomes/wealth have been harmed with screwflation jumping and most likely to continue to reduce real inflation adjusted median wages. Only the upper 20% of incomes/wealth could significantly benefit from private holdings of bonds, stock, metals. Record inequality will become even worse. Retail sales of Xmas, new cars in the desires of Type 1 consumers should sell well...flush with new bond, stock profits At today's 79 close the Dollar index remains below the mid way 81 point in the last 5 years range which had a high about 91 and a low about 71 ... the crash low 71 compared to the Euro's decline. Both the Dollar and the Euro remain volatile as at times either has bad periods. Both fiat currencies have done poorly compared to metals. Next year, I predict a EU crisis as the bailouts of the PIIGS exhaust Germany's willingness to fund them. At that point the Dollar will compare favorably again.
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Post by unlawflcombatnt on Sept 14, 2012 23:47:39 GMT -6
I agree ... Ben devalued the Dollar indirectly with $1.17 T per year monitizing forever or until the employment reachs 'full employment' whatever that might mean to the FED....essentially monitizing 50% of the Deficit by some calculations per year. Already, the Type 2 consumer, 80% of incomes/wealth have been harmed with screwflation jumping and most likely to continue to reduce real inflation adjusted median wages. Exactly. That was my point. The less-affluent, who spend a higher portion of their income on goods purchase, will be hurt the most. The more-affluent, who spend a smaller portion of their income on goods purchases will be harmed the least--since much of Benny's generosity falls almost directly into their pockets through higher stock prices, asset prices, and non-earned (investment) income. I completely agree. This country's economic policy is determined by Mitt & Barry's main constituents, the super-wealthy. As long as profit margins and stock prices are sustained, they couldn't care less about employment. Transferring all the wealth from the lower 90% to the top 10% would be the ideal accomplishment of either Presidential candidate.
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Post by unlawflcombatnt on Sept 15, 2012 11:43:31 GMT -6
Below is a snapshot of stock, oil, Euro & precious metal prices, showing the 2-month change between Sept 14, 2012 with July 13, 2012. Gold's price has increased over +11% (~ +$181/oz). Platinum's price increased over +19% (~ +$270/oz). Silver's price has increased over +27%. The Euro price has risen roughly +9%. Crude Oil prices have increased +13.5% (~ +$12/barrel) The Dow Jones Industrial is up +6.4%. This denotes MAJOR inflation, despite Fed & Govt. claims to the contrary. Attachments:
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