tag:blogger.com,1999:blog-18675105.post8143647425059849529..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Casey Serin loves gold and hates the US dollar. HP'ers, you know what to do now.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger63125tag:blogger.com,1999:blog-18675105.post-73319455826250879142008-08-20T19:04:00.000+01:002008-08-20T19:04:00.000+01:00Holy cow is this guy an idiot.Holy cow is this guy an idiot.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82414859769388641742008-08-20T16:09:00.000+01:002008-08-20T16:09:00.000+01:00I am one of the deflation campers but this is an i...I am one of the deflation campers but this is an important consideration i hadn't thought of. And its fits the neoconecon models and methods.<BR/><BR/>"The fact that these newly created dollars will be given to those creating very little material value means less productivity relative to the money supply and less value in the dollar itself."<BR/><BR/>hmmmm... very good point.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18971916979599339982008-08-20T04:59:00.000+01:002008-08-20T04:59:00.000+01:00The problem with gold is, it's just not that usefu...The problem with gold is, it's just not that useful. 15% of annual production for all your electronics, teeth, etc. 20% hoarded by investors. The rest - jewelry. Compare that with grains or energy products.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-91172751910579831542008-08-20T00:54:00.000+01:002008-08-20T00:54:00.000+01:00LOL Just read an article about indian gold imports...LOL Just read an article about indian gold imports--you know for the wedding season.<BR/><BR/>They're importing FIFTY TONS. That's their imports for this MONTH. That's like 16 million shares of GLD. GLD has an average daily trade of 13 million.<BR/><BR/>And what do you think their imports will be NEXT month?<BR/><BR/>(Their offseason imports in June/July were more like 24-32 tons.)<BR/><BR/>Last year to June their total was 260 TONS.<BR/><BR/>LOL Ya gold is way overvalued--that's why the second biggest country in the world is SCRAMBLING to buy at these prices.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45814365672598265732008-08-19T23:57:00.000+01:002008-08-19T23:57:00.000+01:00The people on this blog need to make a decision. D...The people on this blog need to make a decision. Do you allocate money to certain assets such as oil & gold and be defensive or do you try to time it. If you time it trust me its a 24hr a day job, alot of technical analysis and sentiment work, but make a decision, otherwise dont complain about oil from $145 to $113. If you have the time by all means trade it, if you dont just allocate some money to what you think is the long term trend.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3199605660771969392008-08-19T22:16:00.000+01:002008-08-19T22:16:00.000+01:00Even a blind squirrel can find a nut every once in...Even a blind squirrel can find a nut every once in a while.<BR/><BR/>Casey Serin is a shiftless, lazy moron but he just might be, by accident, right on this one.<BR/><BR/>There is little doubt that we are experiencing classic deflation as defined by a reduction in the money supply. <I>However</I>, I do not see consumer price deflation occurring.<BR/><BR/>While the US and Europe will tank, the BRIC countries will continue to grow, albeit more slowly. In aggregate, demand for all commodities will continue to rise even without rising demand from Europe and the US.<BR/><BR/>Also, Benny and the inkjets will get more and more creative in ways to keep wall st. firms afloat and will make sure that many dollars are created. The fact that these newly created dollars will be given to those creating very little material value means less productivity relative to the money supply and less value in the dollar itself.Paul E. Mathhttps://www.blogger.com/profile/03719759088047080921noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-9768389339011911602008-08-19T20:40:00.000+01:002008-08-19T20:40:00.000+01:00Anon said"Dollar does well in rising price environ...Anon said<BR/>"Dollar does well in rising price environment. The dollar buys more as prices rise."<BR/><BR/>---------------------------------<BR/><BR/>"That is the most idiotic comment I have read all year. Congratulations!"<BR/><BR/>I think they were trying to sound idiotic. I hope so anyway.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14205138301661189692008-08-19T19:48:00.000+01:002008-08-19T19:48:00.000+01:00Bloomberg -- ``There's no doubt we're in a period ...<B>Bloomberg -- ``There's no doubt we're in a period of stagflation now,'' said Peter Kretzmer, a senior economist at Bank of America Corp. in New York who formerly worked at both the Federal Reserve Bank of New York and the Fed Board in Washington.</B><BR/><BR/>http://tinyurl.com/5erd7kAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-10218876719015363382008-08-19T19:39:00.000+01:002008-08-19T19:39:00.000+01:00HOLD goldHOLD dollarsDUMP debtHOLD gold<BR/>HOLD dollars<BR/>DUMP debtAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36555075111748953372008-08-19T18:49:00.000+01:002008-08-19T18:49:00.000+01:00Anon said"Dollar does well in rising price environ...Anon said<BR/>"Dollar does well in rising price environment. The dollar buys more as prices rise."<BR/><BR/>---------------------------------<BR/><BR/>That is the most idiotic comment I have read all year. Congratulations!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-67250314117423988802008-08-19T16:38:00.000+01:002008-08-19T16:38:00.000+01:00Dump your gold and other commodities. That rise i...Dump your gold and other commodities. That rise in the producer price index, far more than the economists expected, means rising prices will be passed on to the consumers or the producers will go bankrupt.<BR/><BR/>Dollar does well in rising price environment. The dollar buys more as prices rise.<BR/><BR/>DuhAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66954396309893054292008-08-19T16:31:00.000+01:002008-08-19T16:31:00.000+01:00Just because a moron goes panning for Gold in a cr...Just because a moron goes panning for Gold in a creek doesn't mean that gold is going down. I agree that Serin is an idiot, but inflation is a huge problem here. The Gold price is manipulated, because if it weren't, it would be a very clear signal that something is wrong. Do you think the Plunge Protection Team wants gold at $950 when the next batch of stuff hits the fan? Or do you think they would rather see it below $800? <BR/><BR/>They will create money without limit, and by the time the average person receives the money, it will have lost most of its value in circulation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52864509026839662512008-08-19T16:30:00.000+01:002008-08-19T16:30:00.000+01:00This isn't any different than Keith's flip-flop wh...This isn't any different than Keith's flip-flop when he went from Ron Paul to Mitt Romney to now Hussein. Keith flip-flops more than Kerry and Hussein combined.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61970771919368093372008-08-19T15:19:00.000+01:002008-08-19T15:19:00.000+01:00BUY GOLD... Keith wakeup and smell the inflation!...BUY GOLD... Keith wakeup and smell the inflation!<BR/><BR/>Large U.S. bank collapse seen ahead<BR/>Tuesday August 19, 1:07 am ET <BR/>By Jan Dahinten <BR/><BR/><BR/>SINGAPORE (Reuters) - The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday.<BR/>ADVERTISEMENT<BR/> <BR/> <BR/>"The U.S. is not out of the woods. I think the financial crisis is at the halfway point, perhaps. I would even go further to say 'the worst is to come'," he told a financial conference.<BR/><BR/>"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks," said Rogoff, who is an economics professor at Harvard University and was the International Monetary Fund's chief economist from 2001 to 2004.<BR/><BR/>"We have to see more consolidation in the financial sector before this is over," he said, when asked for early signs of an end to the crisis.<BR/><BR/>"Probably Fannie Mae and Freddie Mac -- despite what U.S. Treasury Secretary Hank Paulson said -- these giant mortgage guarantee agencies are not going to exist in their present form in a few years."<BR/><BR/>Rogoff's comments come as investors dumped shares of the largest U.S. home funding companies Fannie Mae and Freddie Mac on Monday after a newspaper report said government officials may have no choice but to effectively nationalize the U.S. housing finance titans.<BR/><BR/>A government move to recapitalize the two companies by injecting funds could wipe out existing common stock holders, the weekend Barron's story said. Preferred shareholders and even holders of the two government-sponsored entities' $19 billion of subordinated debt would also suffer losses.<BR/><BR/>Rogoff said multi-billion dollar investments by sovereign wealth funds from Asia and the Middle East in western financial firms may not necessarily result in large profits because they had not taken into account the broader market conditions that the industry faces.<BR/><BR/>"There was this view early on in the crisis that sovereign wealth funds could save everybody. Investment banks did something stupid, they lost money in the sub-prime, they're great buys, sovereign wealth funds come in and make a lot of money by buying them.<BR/><BR/>"That view neglects the point that the financial system has become very bloated in size and needed to shrink," Rogoff told the conference in Singapore, whose wealth funds GIC and Temasek have invested billions in Merrill Lynch and Citigroup<BR/><BR/>In response to the sharp U.S. housing retrenchment and turmoil in credit markets, the U.S. Federal Reserve has reduced interest rates by a cumulative 3.25 percentage points to 2 percent since mid-September.<BR/><BR/>Rogoff said the U.S. Federal Reserve was wrong to cut interest rates as "dramatically" as it did.<BR/><BR/>"Cutting interest rates is going to lead to a lot of inflation in the next few years in the United States."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57264546919189862992008-08-19T11:02:00.000+01:002008-08-19T11:02:00.000+01:00Where is that pic from? In the background a white ...Where is that pic from? In the background a white woman is holding hands with two knee-grow children. Very odd for the 1930s.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89148750808613094892008-08-19T07:57:00.000+01:002008-08-19T07:57:00.000+01:00While casey is pro-gold, he is pushing mining penn...While casey is pro-gold, he is pushing mining penny stocks as an "investment" strategy instead of physical gold/silver accumulation as long term wealth preservationrooshhttps://www.blogger.com/profile/03453502643291960815noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55964185925751514202008-08-19T06:24:00.000+01:002008-08-19T06:24:00.000+01:00Here's a quote from Bloomberg:"Fifty-eigh...Here's a quote from Bloomberg:<BR/><BR/>"Fifty-eight percent of independent investment advisers surveyed said they expect the Standard & Poor's 500 index to rise, an increase from 46 percent over the prior poll in January. One-third of advisers who said the S&P will rebound said it will rise more than 10 percent by the end of the year."<BR/><BR/>So I guess by your logic, the market is going to crash.<BR/><BR/>Idiots.........Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5833028854233242752008-08-19T05:35:00.001+01:002008-08-19T05:35:00.001+01:00Casey again, LOL.He is following the gold bugs lin...Casey again, LOL.<BR/>He is following the gold bugs line that the financial system will implode and gold will rocket to the moon and the ones left holding gold will be wealthy beyond their wild imaginations. Fantasy. If indeed the financial system were to implode your best investment would be a few guns and a lot of ammo.<BR/>People think they are good at the speculating game, that they can invest a few $100 a month and retire early and wealthy. Hence the fascination with the deflation we are experiencing. They forget the government hasn't even pulled out the big guns (minimum wage, SS/Medicare benefits, makework jobs and the FEDS ability to monetize ANYTHING). They (the gov and FED) will let deflation go a bit, but only so far. It cannot last, people with a long term (20+ year) investment horizon should be betting on more inflation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61443689661508923252008-08-19T05:35:00.000+01:002008-08-19T05:35:00.000+01:00Peter Schiff would disagree with you. I think Pet...Peter Schiff would disagree with you. <BR/><BR/>I think Peter Schiff is right that gold is still way undervalued at $800.00.<BR/><BR/>Casey the assclown is just looking for the next bubble, and in gold he just may have found it.<BR/><BR/>Even assclowns can pick a winner sometimes. But, being assclowns, they usually hold it on to it long enough for it to become a loser.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-16072494083951697632008-08-19T05:21:00.000+01:002008-08-19T05:21:00.000+01:00Ben's next big problem will be deflation I think--...Ben's next big problem will be deflation I think<BR/><BR/>-----------------------------------<BR/><BR/>dude, deflation has been here for a while. oil increasing is not inflation, it is price inflation for that particular commodity, not monetary inflation.<BR/><BR/>you may have been early to the housing bubble party but you are late to the deflation party. It is about money AND credit, not just money(m3).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35827358314323725752008-08-19T03:46:00.000+01:002008-08-19T03:46:00.000+01:00A deflationary environment goes along with falling...A deflationary environment goes along with falling stock prices, so you're wrong again on that count.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77911797490881481142008-08-19T03:35:00.000+01:002008-08-19T03:35:00.000+01:00Funny how all you jackasses have been screaming fo...Funny how all you jackasses have been screaming for months about Ben and the inkjets, now you claim "deflation" or decrease in the money supply. How do you figure?<BR/>You're just chasing the latest trend and trying to prognosticate on it.<BR/>Little puppy dogs.....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-34705869338123516222008-08-19T03:30:00.000+01:002008-08-19T03:30:00.000+01:00Won't you all be surprised when Casey turns out to...Won't you all be surprised when Casey turns out to be right?<BR/>Ha ha, fools......Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18847903625694588892008-08-19T02:58:00.000+01:002008-08-19T02:58:00.000+01:00Remeber Keith's recent absence? Let me get this st...Remeber Keith's recent absence? <BR/>Let me get this straight:<BR/>1. Sell gold<BR/>2. Buy dollar<BR/>Either aliens have abducted Keith or the PPT has taken over.<BR/>I hope you are only speaking from a trader's perspective, not an investor's. You were the one warning about bank failures and how bad this is going to get. Now things have changed?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-90128396784008942392008-08-19T02:06:00.000+01:002008-08-19T02:06:00.000+01:00For the retards asking "Where is the deflation", h...For the retards asking "Where is the deflation", here is a an idea - stop looking at price movements. <BR/><BR/>Credit is contracting and the money supply is weakening...that is deflation.Anonymousnoreply@blogger.com