economy

Hyper-Inflation: Think the economy is bad now? Just wait

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The post on Obama and inflation in Zimbawe has received 257 hits so far.  Well, here are a couple experts who agree with me.

Peter Schiff calls the US economy a “ponzi” economy.  He warns that stimulus package suggested by Congress will lead to a “unmitigated disaster”.  He warns of hyper inflation (not just double digit inflation) similar to Latin American countries or to the Weimar Republic.  He compares the interventionist government with Hoover and Roosevelt which is leading us into a new depression.
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Obama's inexperience

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Obama has never run a private business. He’s never been an executive before (unlike Sarah Palin who has experience as both a mayor and a governor).  He’s never had to make tough decisions; apparently he often voted as a Illinois state senator not “aye” or “nay” but “present”.  But somehow he let the over eager liberal media talk him into running for president, and now he’s got the job.  In 2004, when he had just become junior senator from Illinois, he was asked if he would run for President of the United States in the 2008 election.  This was his answer:

By his own admission he wasn’t ready for the job.  Those of us who voted for McCain agreed with him.  Simply put, he is the least experienced president in my lifetime, perhaps in the history of the country.  That inexperience is starting to show after only two weeks.
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Double Standard AND Tax Evasion and Stealing (updated)

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Elisee Ouoba wrote:

Obama and tax evaders:

It’s kind of funny and ironic that Obama’s secret revenue plan would be to appoint people who have failed to pay their taxes and then have them pay their outstanding bill. Funny because this would be, indeed, a way to help some rich people return what they have “stolen,” and ironic because that would mean that the non-payment of taxes is the reason for the economic/financial crisis and thus turn a problem into a solution.

I will respond to this in a new post as a opposed to the commentary section.

First, the approvals of Daschle and Geitner prove that there is a higher standard for Republicans than for Democrats.  Linda Chavez was forced to withdraw her nomination for far less serious grounds which the media and the Democrats played to the hilt.  The media even made numerous excuses for Geithner, because they feel it is their responsibility to support Obama’s presidency.  They are after all the reason he is president.

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Banks vs. Golds

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If you compare the price for Royal Bank (RY), Canada’s largest bank, against the price of Barrick Gold (ABX), Canada and the world’s largest gold mining company, over the last two years, I think the result is startling.

Yahoo Finance)

abx-vs-ry-2-years1 (Source: Yahoo Finance)

Starting about two years ago, I have as an investor/trader bought and sold alternatively ABX and RY.   I sell the one when it’s high and sooner or later the other drops and I buy that.  I’ve found that buy and hold, which I do with a part of my portfolio, has been an entirely unsuccessful strategy since I started investing about four years ago (see this article which confirms what I’m saying).  However, my alternate buying and selling of RY and ABX has helped me to offset the losses that I’ve incurred in the buy and hold part of the portfolio.
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