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It's my opionion and I can spread that as much as I like.
My words are no more or less valuable than those newsletter idiots and morons you talk about, therefor it's up to the reader to decide whether to give a fuck or not.
Why are you so sure your stance on this topic is so indestructible?Comment
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I think the goal for people now should be to shore up their money to retain its value over the next year or so, not for long term investment. That's where gold and foreign exchange comes in. You park your money there, and as inflation of the USD takes hold, you've retained most if not more of the value you had in the past...then there's the question of when to exchange it. Don't put all your money there of course, but most people don't and should at least begin to put a portion of their savings there.Comment
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I believe that after acknowledging you know nothing but your belief, it's obvious that you ought to not be trying to state what the future will hold. Your words are much less valuable because you have no understanding of the subject. Stating claims about inflation or anything economic with no concept of how it works besides what you assume is just adding noise. It's people like you who carry on / spread ignorance and stupidity because volume is more important to some listeners these days than virtue or reason (especially if they, like you reading the quotes about gold, only pay attention to what they want to hear).
And it's people like you why the world and the US in particular is becoming idiots who don't take the time to become educated and instead listen to talking heads and morons who tell them what to think, even if they have no clue themselves. Decisions and actions occur because of what fear-mongering or sensationalists say, not the intellectuals who seem boring but are right. It is a sad day when getting an audience is more important than getting facts straight.
My stance is not indestructible, but it surely is based on an education and understanding of the principles. Anyone who has alternative thoughts can share and defend them or point out flaws or poor assumptions in mine, for that is the nature of good discussion... not the loud proclaiming of opinion without any foundation.Comment
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Once again, this assumes that the price of gold will continue to rise indefinitely, that an unreasonable amount of inflation will occur (2% is target, 3-4% is a lil over but reasonable, 6%+ worrisome), and that foreign currency will yield a lower inflation rate.
People were saying the same thing about oil - buying it will help retain value when the USD lost value. Only the problem was USD deflated and the price of oil tanked.Comment
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So should the people who publically claimed gold wouln't rise above 1500 on CNBC return their college degrees or lose their job?
I don't think anyone can state what the future holds. And I highly doubt I'm the only person in this thread without a major in economics.
So I'll continue to write my thoughts and future guesses, until r3v turns into a professional investment forum with bulletproof market analysis.Comment
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No, I mean the people they interview. Unfortunately I'm too lazy to search for those who made that claim, but it wasn't just one individual.Comment
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Hmmm. They want to score viewers. And viewers listen to shocking and fearful news more. So do they get the people who are boring with the facts and realistic picture and even a loose look into possibilities of the future... or do they get the people who are going to say the sky is falling or make claim to a definite number which are hardly ever accurate?
And most of those people may just be writers themselves, with government / politics / journalism / English degrees, with no economic backgrounds really.
There are two ways to go for better truth. 1) The 80-hour working I-banker who tracks & analyzes on one small component of the economy and barely has enough time to do laundry and sleep, and whose knowledge is a competitive element so wouldn't share if he even could. 2) Chill out and invest broadly... there is no need for any updates or have people watch again, ever.
Obviously, it is not in any media networks best interest to try to educate you in any way and have you be self-reliant on an understanding of economics. Modern media is all about persuasion and emotion, not truth or knowledge.
It's stuff like this and the deterioration of society that makes me glad I cancelled cable. Anything good is usually on Hulu.Comment
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Which of those two backs your statement that gold won't rise indefinately? (I'm not saying it will)
Anyone can regard what you wrote about investing in companies as utopian as what I've written about gold. I don't think either of us has centainty. Unless you've been an insider for years, but I doubt an insider would write something as general as "Chill out and invest broadly".Comment
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I'm not saying it has peaked, but I am saying that it is popular and many people are putting money into it, which as a mechanism of supply and demand, has inflated its price. That's how markets work. And at some point, a correction will occur, and then you will lose a lot more if you just bought in than if you kept it as $ and lost 3% on inflation (if you just sat it in a bank versus invested something that yielded a decent return).
If you follow the hot investment, you aren't the only one obviously and just buying something you know is overvalued.
Once again, be confident where people are weary and weary where people are confident. Play the opposite of the populace. Whatever people target becomes overvalued and then the ignored segments present a good deal.
I'm sorry you don't believe it is that simple. That the saddest thing that people are always looking for the next hot secret of where they should put their money, but the clear answer is to cross industries and different types of investments, diversify so you limit exposure to any shocks. And move from stocks to bonds as you age to mitigate risk. This isn't new stuff, and not very profitable for investment advisors to sell you on either, and not exciting so people don't listen enough - unless they are smart then they do. A brilliant man created instruments to automatically index the market and invest across it as a whole, which greatly reduces cost and have very small % fees - his name was Vanguard.Comment
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If you want a somewhat better look to what [real] economists are predicting, there are some sources that are good and cater to knowledge and not just mindless banter. WSJ is pretty good and obviously the Economist
Economists expect that [the inflation] rate to throttle back to 3% by the end of this year and remain below 2.5% through 2012.
2.5% inflation while trying to recover the economy would be pretty good. (great actually)
Actually, if you go into the WSJ MarketWatch (which I take with a grain of salt, obviously), some people are saying sell gold and buy undervalued blue chip stocks. Obviously this is the opposite of what pro-gold people are thinking but not a bad thing. Honestly can't wait to invest in stocks very soon.Last edited by rwh11385; 08-10-2011, 07:48 PM.Comment
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That article is from May, so I'm not sure I would bet on it.
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