Showing posts with label bernanke panic. Show all posts
Showing posts with label bernanke panic. Show all posts

October 02, 2007

It's funny that everyone thinks they're getting rich as stocks go up (in dollar terms) while meantime the dollar is tanking


"It doesn't matter how many dollars you can accumulate, it matters what they're worth"

- Peter Schiff, Euro Pacific Capital, on CNBC today, arguing that these Dow gains are an illusion, as the Dow measured in US dollars is down against gold, oil, Canadian dollars, euros, or hell, even soybeans. And ya know what, he's right, but not many people get it. Yet.