Gyroscopic Investing

Mdraf wrote: That depends on who is tracking the record.

TennPaGa wrote:

Mdraf wrote: That depends on who is tracking the record.

I posted the clip not because Schiff is a messiah to be followed and adored but simply because he was spot on on this particular issue while all the gurus were mocking him. That's all.

In other words, in a roomful of idiots, one is bound to be right about something at some point.

I'm not impressed.

moda0306 wrote: HB had more in his pinky than Schiff has.

moda0306 wrote: I'm amazed that when we have a guy like HB to look to as a leader in the Austrian/libertarian community, that we'd even give Schiff any of our respect.  HB is the gold standard (pardon the pun) of Austrian economic thinking and market analysis, IMO.  I don't agree with him in some important areas, but we both share the same philosiphy in that we both realize that we could be wrong, but even if we're not, the market can stay irrational longer than we can stay solvent, and drive our emotions crazy in the process.

That's all I ask.  A little humility and perspective alongside insightful economic analysis (even if I disagree with some of it).  HB had more in his pinky than Schiff has.

Kshartle wrote:but watching him dismantle hack economists in discussions is always entertaining to me.

moda0306 wrote: If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

Kshartle wrote:

moda0306 wrote: If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

If gold does plumment like that then we would have an ultra strong dollar, fear about the economy gone because it's doing so well and people are not looking for safety don't you think?

This would be awesome. How likely is it?

Gumby wrote: Government spending is simply trying to "reflate" the damage in private credit.

Kshartle wrote:The only thing the government can do to help the economy is leave it alone.

Kshartle wrote: I'll sell my gold when everyone is convinced the dollar is finished and the printing will never end. That's probably when they'll end it. Not because they printed an improved economy.

Gumby wrote: Private credit is the most important part of the economy — it's practically the entire economy. .

Kshartle wrote: I'll sell my gold when everyone is convinced the dollar is finished and the printing will never end. That's probably when they'll end it. Not because they printed an improved economy.

Gumby wrote:
If you had that attitude in 1980, you would have lost big.

Kshartle wrote:

Gumby wrote: Private credit is the most important part of the economy — it's practically the entire economy. .

Credit is the economy? Not productivity?

Kshartle wrote: In 1980 people were panic-buying gold because they thought inflation would never end. It was the perfect time to sell what are you talking about?

Kshartle wrote: I'll sell my gold when everyone is convinced the dollar is finished and the printing will never end. That's probably when they'll end it.

Kshartle wrote:

Kshartle wrote: I'll sell my gold when everyone is convinced the dollar is finished and the printing will never end. That's probably when they'll end it.

moda0306 wrote: I'm amazed that nobody I've ever met knows who Harry Browne or the PP is.

Tech,

You still have expenses don't you? 

If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

Libertarian666 wrote:

moda0306 wrote: I'm amazed that nobody I've ever met knows who Harry Browne or the PP is.

Tech,

You still have expenses don't you? 

If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

I can meet my mandatory expenses from Social Security.

Gumby wrote:

Libertarian666 wrote:

moda0306 wrote: I'm amazed that nobody I've ever met knows who Harry Browne or the PP is.

Tech,

You still have expenses don't you? 

If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

I can meet my mandatory expenses from Social Security.

Wouldn't that be ironic!

(Though, I certainly hope it doesn't come to that for you)

Kshartle wrote:

moda0306 wrote: If gold does another stretch like '81 to '2000 and you lose your job you could hit some huge solvency issue.  Leverage isn't the only cause of insolvency.

If gold does plumment like that then we would have an ultra strong dollar, fear about the economy gone because it's doing so well and people are not looking for safety don't you think?

This would be awesome. How likely is it?

Libertarian666 wrote:

Gumby wrote:

Libertarian666 wrote: I can meet my mandatory expenses from Social Security.

Wouldn't that be ironic!

(Though, I certainly hope it doesn't come to that for you)

I'm not sure why it would be ironic. I have been forced to pay into the SS pyramid scheme for my whole life; if I had my "contributions" and my employer "contributions", I could have bought a real annuity that would pay about the same amount per year. But since I didn't have a choice as to "participating", I see no problem with getting as much of my money back as possible. (Yes, I know it was spent already, so you don't have to enlighten me on that.)

And I think it is very unlikely that it will come to that, as I have substantial other assets that I could tap if necessary. However, the longer I can postpone that, the better off I will be overall.