Watch the market tomorrow

[JustRalph]

Socialist elected in France. Greece with more problems.

Could be an interesting ride

[delayjf]

I read were the new President favors a 75% tax on the rich. let the games begin.

[JustRalph]

I read were the new President favors a 75% tax on the rich. let the games begin.

He's also promised to lower the retirement age back to previous level, 55?

He also says he will consider reinstating the 35 hour work week with a ban on OTime

[PaceAdvantage]

DOW down 113 in the futures market, this after being down as much as 170+ earlier this evening...

[DJofSD]

My theory: markets drop in advance of demise of the Euro-zone. Germany rises to the top of the heap. Hold on tight, it's going to be a very bumpy ride.

[DJofSD]

http://www.independent.co.uk/opinion/commentators/nabila-ramdani-a-fiercely-leftwing-leader-to-strike-fear-into-the-hearts-of-frances-rich-7718666.html

France will be waking up today to its first Socialist President for 17 years – and bracing for radical change. There are all kinds of reasons why one might fear a François Hollande presidency, especially if you are a prosperous French person.

The 57-year-old Socialist has openly admitted that he "does not like the rich" and declared that "my real enemy is the world of finance". This means taxing the wealthy by up to 75 per cent, curtailing the activities of Paris as a centre for financial dealing, and ploughing millions into creating more civil service jobs.

[Tom]

France decides not to surrender - chooses suicide instead.

[newtothegame]

My theory: markets drop in advance of demise of the Euro-zone. Germany rises to the top of the heap. Hold on tight, it's going to be a very bumpy ride.
Would agree. for those looking to invest into European markets, I would DEFINITLY be looking towards Germany.
France took a huge step backwards in my opinion!
Lets see...lower retirement age (where will money come from?)
Raise taxes on rich up to 75% ??? (No comment needed)...Like I would stick around for that! lol
Yep, france will head backwards even further and faster!

[lamboguy]

i would be paying more attention to the way the EURO trades vs. the DOLLAR.

the fundy's have not looked that great for the EURO, yet until this point it has held up fairly well with all the problems going on in that zone. it has gone down from a high of 145 to 132 last week. my thoughts are that it would have to break par to see an eventual end to the EURO.

with its relative strength, it looks like someone is artificially holding the EURO up.
i could never figure out how 12 different country's use the exact same currency.

[horses4courses]

Hollande being elected in France was a foregone conclusion.
The effect of that election result on any downturn in Europe is minimal.
Much bigger problems to deal with there.

[lamboguy]

i just saw theEURO broke 130 to the downside. next strong support is under 128

[Saratoga_Mike]

i would be paying more attention to the way the EURO trades vs. the DOLLAR.

the fundy's have not looked that great for the EURO, yet until this point it has held up fairly well with all the problems going on in that zone. it has gone down from a high of 145 to 132 last week. my thoughts are that it would have to break par to see an eventual end to the EURO.

with its relative strength, it looks like someone is artificially holding the EURO up. i could never figure out how 12 different country's use the exact same currency.

...or European banks have been repatriating capital globally

[Robert Goren]

If the market didn't have this priced in already then it was asleep at the wheel. There was no way that France was going to re-elect Sarkozy.

[JustRalph]

http://www.independent.co.uk/opinion/commentators/nabila-ramdani-franois-hollande-will-strike-fear-into-the-hearts-of-frances-rich-7718666.html

This guy better keep his mouth shut............... The money boys will turn on him so fast........I predict a huge failure for this guy.............

[lamboguy]

i have been watching gold this morning and so far it is down $5 per ounce. the EURO is getting killed. they are selling the EURO and buying US DOLLARS. the ten year bond is yieding 1.86%. pretty soon you will be paying the government to lend them money. as nuts as it sounds, that is entirely possible. big corporations that have lots of cash like Apple have to do something with their money. they can't risk it in banks because they are not insured for all their billions. they buy treasury's because they are backed by the good faith of the citizens of this country.

[Saratoga_Mike]

i have been watching gold this morning and so far it is down $5 per ounce. the EURO is getting killed. they are selling the EURO and buying US DOLLARS. the ten year bond is yieding 1.86%. pretty soon you will be paying the government to lend them money. as nuts as it sounds, that is entirely possible. big corporations that have lots of cash like Apple have to do something with their money. they can't risk it in banks because they are not insured for all their billions. they buy treasury's because they are backed by the good faith of the citizens of this country.

I haven't looked at their 10k, but I don't think Apple's buying any long-dated treasuries.

[lamboguy]

I haven't looked at their 10k, but I don't think Apple's buying any long-dated treasuries.probably right, but short term stuff is like .25%

[racko]

Lamboguy, your gold outlook please. Physical gold. A buy point?

[Robert Goren]

Yesterday was also election day in Greece. The voters there voted out the people who were putting the deals with rest of the European Union. The vote was split among many parties including several new ones and if no one can put together a ruling coalition, they will have another election in June.
I saw this morning that Greek bonds were pay 22%. Good luck on collecting that.

[DJofSD]

Don't worry about those holders of the Greek bonds. They'll end up getting screwed just like the GM bond holders.

[lamboguy]

Lamboguy, your gold outlook please. Physical gold. A buy point?
when i am looking at gold vs. us dollars:

i am taking a good look at the 200 week moving average. right now that is sitting above $1300 per ounce. throughout this 12 year bull market in the metal, it has traded between 20%-45% over its 200 week average. when it gets above that number it is top heavy and shoot for the lower end of the range. the gold bull market will be over if it breaks the 200 week exponential average. its a good plan to stick with if you are long term holder of this metal. a pretty solid buy would be around $1600 today.

if you are looking from a short term perspective, i really have no idea now. its pretty tough to run into gold right this second with the EURO about to break down and all that money rush's into US bonds as sick as that seems. the wild card in gold is China, if they walk into the market and buy the stuff you could get some type of a parabolic run. the other wild card could be the election of ROMNEY. he could do a whole bunch of things such as fix the price of gold to a much higher price than it is right now overnight without any warning. he could also raise the tax rate on the capital appreciation of the gold and make it unfeasible for citizens to buy gold after the price rise.

i don't see the rise in price of gold as a bad thing for this country going forward. it might just be what the doctor ordered to get the economy rolling once more. today's economy is sicko, if ROMNEY gets in he will make some drastic measures to get it to go, very likely it will be what i just said about gold.

[BlueShoe]

So the Froggies have thrown in the towel and hoisted the Hammer & Sickle. :rolleyes: Not unexpected, but too bad that the Le Pen woman could not have had more impact. Much better to be far right than far left.

[DJofSD]

NYT (http://www.nytimes.com/2012/05/08/world/europe/greece-in-chaos-faces-possible-new-elections.html?_r=1) article about the current political landscape in Greece. Greece is still considered the linchpin.

[Robert Goren]

when i am looking at gold vs. us dollars:

i am taking a good look at the 200 week moving average. right now that is sitting above $1300 per ounce. throughout this 12 year bull market in the metal, it has traded between 20%-45% over its 200 week average. when it gets above that number it is top heavy and shoot for the lower end of the range. the gold bull market will be over if it breaks the 200 week exponential average. its a good plan to stick with if you are long term holder of this metal. a pretty solid buy would be around $1600 today.

if you are looking from a short term perspective, i really have no idea now. its pretty tough to run into gold right this second with the EURO about to break down and all that money rush's into US bonds as sick as that seems. the wild card in gold is China, if they walk into the market and buy the stuff you could get some type of a parabolic run. the other wild card could be the election of ROMNEY. he could do a whole bunch of things such as fix the price of gold to a much higher price than it is right now overnight without any warning. he could also raise the tax rate on the capital appreciation of the gold and make it unfeasible for citizens to buy gold after the price rise.

i don't see the rise in price of gold as a bad thing for this country going forward. it might just be what the doctor ordered to get the economy rolling once more. today's economy is sicko, if ROMNEY gets in he will make some drastic measures to get it to go, very likely it will be what i just said about gold. I saw Buffett on CNBC talking about Gold. He said that he took over BH it was selling $15 a share and gold was selling $20 an ounce. That gold today is worth $1600. That share of BH is worth.... about $120,000. No wonder the people who got in on BH early think Buffett is a god.

[JustRalph]

Don't worry about those holders of the Greek bonds. They'll end up getting screwed just like the GM bond holders.

You mean the forgotten bondholders. They never get mentioned

[lamboguy]

Lamboguy, your gold outlook please. Physical gold. A buy point?
here is the $1600, if it breaks below $1560 it might go and test out the 200 week moving average to scare everyone out before a big run. if i were to buy here, i would stop out below $1560 on a daily close..

[Valuist]

I saw Buffett on CNBC talking about Gold. He said that he took over BH it was selling $15 a share and gold was selling $20 an ounce. That gold today is worth $1600. That share of BH is worth.... about $120,000. No wonder the people who got in on BH early think Buffett is a god.

But over the past 10 years, gold has outperformed Berkshire.

[lamboguy]

But over the past 10 years, gold has outperformed Berkshire.
is suspect that in the next 10 years it will outperform BERKSHIRE ten fold

[DJofSD]

Auntie Merkle needs you! Euroland can’t solve its crisis by buying its own bonds. They need global buyers. Stay away.

[mostpost]

I read were the new President favors a 75% tax on the rich. let the games begin.

That is an excellent idea. We had a far better economy when our rates were 70% to 91% than we do now at 35%. It's time that someone crush once and for all the idea that lower taxes for the rich stimulate the economy. That is not true. Never has been; never will be.

[Robert Goren]

That is an excellent idea. We had a far better economy when our rates were 70% to 91% than we do now at 35%. It's time that someone crush once and for all the idea that lower taxes for the rich stimulate the economy. That is not true. Never has been; never will be. Don't confuse the republicans with history. It interferes with their neat little theories.

[badcompany]

That is an excellent idea. We had a far better economy when our rates were 70% to 91% than we do now at 35%. It's time that someone crush once and for all the idea that lower taxes for the rich stimulate the economy. That is not true. Never has been; never will be.

Hollande should just cut to the chase. Raise the tax rate to 100%. Lower the retirement age to 25, and watch the economy soar.:lol:

[mostpost]

Hollande should just cut to the chase. Raise the tax rate to 100%. Lower the retirement age to 25, and watch the economy soar.:lol:
Don't be insulted if I say that is really dumb. On second thought, feel free to be insulted. :lol:

Admittedly a 100% tax rate might be too high. Yet a 91% tax rate such as we had from 1948 to 1963 coincided with a period of high prosperity. During that period GDP grew at an average rate of 3.8% a year. More than two times the growth rate during the Bush II years. (1.622%) And much higher than during the Bush I years when the top tax rate was 28% (Average GDP growth of 2.56%)

Unemployment was much lower than in years with a lower tax rate. Of the 192 months between 1948 and 1963, 101 had an unemployment rate of 4.9% or lower and many of those had rates in the 2's and 3's. The highest unemployment rate was 7.9% which occurred only one or two times. Contrast that with the Reagan years when tax rates dropped to 50% from 70% from 1982 through 1986 and we had 48 straight months of unemployment over 7% and 19 straight months of unemployment over 9%.

Unemployment improved slightly during the Bush I years with its 28% top tax rate, but was never close to as good as the rates from 1948 to 1963.

Then, just to prove the fallacy of your low tax equals prosperity theory, Clinton raised taxes and unemployment went down and Bush lowered taxes and unemployment went up.


Here are the links I used to draw these conclusions.
http://www.taxfoundation.org/files/fed_individual_rate_history_nominal&adjusted-20110909.pdf
http://data.bls.gov/pdq/SurveyOutputServlet

[mostpost]

I know I am going to get two responses to post #33. One is that the period from 1948 to 1963 encompassed the post WWII boom. That is true. However according to your theories a high tax rate would have prevented that boom. Certainly not the case.

The second objection will be that no body paid the 91% rate because of exemptions, credits and the like. Probably also true. But nobody pays the top rate now thanks to the same, and when you start with 91% and make deductions you are going to end up collecting a heckuva lot more money than if you start with 35% and make deductions.

[badcompany]

Don't be insulted if I say that is really dumb. On second thought, feel free to be insulted. :lol:

Admittedly a 100% tax rate might be too high. Yet a 91% tax rate such as we had from 1948 to 1963 coincided with a period of high prosperity. During that period GDP grew at an average rate of 3.8% a year. More than two times the growth rate during the Bush II years. (1.622%) And much higher than during the Bush I years when the top tax rate was 28% (Average GDP growth of 2.56%).

Then, just to prove the fallacy of your low tax equals prosperity theory, Clinton raised taxes and unemployment went down and Bush lowered taxes and unemployment went up.


Here are the links I used to draw these conclusions.
http://www.taxfoundation.org/files/fed_individual_rate_history_nominal&adjusted-20110909.pdf
http://data.bls.gov/pdq/SurveyOutputServlet

Don't be insulted but you're an inept boob whose economic analysis has the depth of a kiddie pool.

You have absolutely no idea where the positives of raising taxes ends and the negatives begin.

Where you fail miserably is that you confuse cause and effect. Taxes are usually raised BECAUSE an economy is doing well and politicians feel they can get away with skimming more off the top. This usually works for awhile, hence the initial decreased unemployment, but eventually they break the back of the economy.

What high taxes really do is subsidize leisure. It costs a person less to not work. That's not a theory, it's a fact that can be proven mathematically. Not exactly a prescription for economic growth, is it?

In addition, punishing tax rates also subsidize house work. In Sweden, when tax rates were raised to absurd levels, you had surgeons taking a week off to paint their homes.

This has a contracting effect on the economy as division of labor decreases and economies scale downward.

[pandy]

Most, so you're saying that a 91% tax rate is good? It seems unconstitutional to me. If you made a million a year, you wouldn't mind giving $900,000 of it the Federal Gov't (and then more to state and local taxes)?

[RaceBookJoe]

Might want to watch the market tomorrow actually. Between China news and JPM news...might get ugly.

[mostpost]

Don't be insulted but you're an inept boob whose economic analysis has the depth of a kiddie pool.

You have absolutely no idea where the positives of raising taxes ends and the negatives begin.
Apparently they didn't end at 91% as proven by the prosperity of the50's and 60's.

Where you fail miserably is that you confuse cause and effect. Taxes are usually raised BECAUSE an economy is doing well and politicians feel they can get away with skimming more off the top. This usually works for awhile, hence the initial decreased unemployment, but eventually they break the back of the economy.
You have that backwards. The economy does well when taxes are higher. High taxes are the cause of the economy doing well and here is why. When taxes are low the business owner just keeps a larger percentage of his profits and does not reinvest in his business. When taxes are high he can lower his tax obligation by reinvesting in his business. Yes, he can also do this if taxes are low, but he has less incentive to do so. In any case lowering taxes is not an incentive for a business owner to expand his business and hire new workers unless he has already started to sell more of his product. Just giving him the money does not mean he will invest it in his business. He will most likely put it away for fear that the downturn will worsen.

What high taxes really do is subsidize leisure. It costs a person less to not work. That's not a theory, it's a fact that can be proven mathematically. Not exactly a prescription for economic growth, is it?
This makes no sense. You are saying that a person who makes $1000 with a 75% tax rate is more likely to not work than a person who makes $1000 a week with a 50% tax rate, because the first person is not getting paid only $250 whereas the second is not getting paid $500. If they are both not working, they are both not getting paid anything. There is no reward; there is no subsidy. No one is going to say "I'm not going to work because I will only make $250. They are going to say "I'm going to work because otherwise I will make $0.

In addition, punishing tax rates also subsidize house work. In Sweden, when tax rates were raised to absurd levels, you had surgeons taking a week off to paint their homes.

This has a contracting effect on the economy as division of labor decreases and economies scale downward.

High taxes caused Swedish doctors to become house painters? I have no answer to that one. :confused:

[johnhannibalsmith]

...the business owner just keeps a larger percentage of his profits and does not reinvest in his business. When taxes are high he can lower his tax obligation by reinvesting in his business. Yes, he can also do this if taxes are low, but he has less incentive to do so....

First of all - I really thought you might try harder on these quoted replies so that I wouldn't have to do the dirty work trying to clean them up just to reply.

Okay - if a business is profitable, and the guy (or gal or gender neutral) is a greedmeister deluxe, why wouldn't he want MORE profit? Isn't that a fairly profound incentive for reinvestment? I don't follow the logic you are trying to lead us around by here - it makes no sense to suggest that someone (particular this greedy slug you describe) would be less inclined to increase his profits if he is profitable.

[mostpost]

Most, so you're saying that a 91% tax rate is good? It seems unconstitutional to me. If you made a million a year, you wouldn't mind giving $900,000 of it the Federal Gov't (and then more to state and local taxes)?

I wouldn't be in favor of a 91% rate although it certainly did not seem to hurt us in the 50's and 60's. I would favor a return to the Clinton brackets but cap the top bracket at $500,000. Then add a 45% bracket for income between $500,000 and $1M; a 50% bracket for income between $1m and $5M, and a 60% bracket for income over $5M.

[bigmack]

I wouldn't be in favor of a 91% rate although it certainly did not seem to hurt us in the 50's and 60's. I would favor a return to the Clinton brackets but cap the top bracket at $500,000. Then add a 45% bracket for income between $500,000 and $1M; a 50% bracket for income between $1m and $5M, and a 60% bracket for income over $5M.
How do you answer questions as if your answers mean anything to anything?

Christ, you're getting Dopey Ed Syndrome. Full of your own dung.

Hasn't it occurred to you that you're a retired federal employee of an institution that is currently hemorrhaging $25 million/day and you want to go on record favoring insane tax rates of years gone by where enforcement was as laughable as not finding a line at a post office?

Try and get in touch with reality.

[plainolebill]

Watch the market tomorrow - reaction to JP Morgan Chase's shennanigans will take everything down. Bail em' out again and scream about how we can't afford Social Security and Medicare. These bankers are never going to learn - time to break up the big 4.

Dimon earned a spot on a pike pole in 2008. What a bunch of clowns.

[lamboguy]

Watch the market tomorrow - reaction to JP Morgan Chase's shennanigans will take everything down. Bail em' out again and scream about how we can't afford Social Security and Medicare. These bankers are never going to learn - time to break up the big 4.

Dimon earned a spot on a pike pole in 2008. What a bunch of clowns.even though gold is down this morning, this event should lead the price of gold to much higher levels going forward. j p morgan are the largest shorters of the precious metals complex. they have been the ones that have kept gold down in price for years now. if they are forced to cover all hell will let lose on gold.

[JBmadera]

as long as we hold 47.50 on the /ES and 82.2 on the /TF I'm looking for a gap fill.

38-42 still super critical levels in the /ES, we stay north of that level I'm still looking at 1490 as the intermediate term target.

[sammy the sage]

even though gold is down this morning, this event should lead the price of gold to much higher levels going forward. j p morgan are the largest shorters of the precious metals complex. they have been the ones that have kept gold down in price for years now. if they are forced to cover all hell will let lose on gold.

It would BE silver my friend...not gold.

[lamboguy]

It would BE silver my friend...not gold.JP MORGAN has been on the other side of the precious metals trade now for years. they might have to cover their shorts if they can.

the one thing i have learned about bankers is that when they see another banker all bloodied up, they go right for the throats and double kick them when they are down.

[lamboguy]

Lamboguy, your gold outlook please. Physical gold. A buy point?
during the morning 5/16, gold tagged $1525 per ounce, and so far it has rejected that price. this could easily be the bottom on this leg. if it does break that number it will tag the 200 week moving average at some point of time. that would also instigate a great long term buy.

[racko]

Where can I find the 200 week moving average?

[DJofSD]

200 week or 200 day moving average?

[racko]

Lamboguy says 200 week. see 2 posts above and also a few other posts.

[lamboguy]

its a 12 year bull market for gold now, I DO MEAN 200 WEEK EMA

[racko]

Where is a chart for the 200 week ave.? Did you see the varoom varoom post in this section. Posted by DJ of SD.

[DJofSD]

Ya, "varoom varoom" is just another example of what happens when you have more money than brains.

[IBCNU]

I haven't posted in some time but can't resist here. Who on this board would gladly give 75% of their total income to uncle sam? An inept goverment with no accountablity that makes that makes an addicted gambler look like a 12 step actuary by comparison? Show of hands? If there is no wealth creation, there is no job creation. What sane person will put capital at risk multiple times only to have that much confiscated should he/she prove succesful? Capital is fungible, and people are mobile....dont expect it to stay where the business enviroment is not freindly.

[JustRalph]

I haven't posted in some time but can't resist here. Who on this board would gladly give 75% of their total income to uncle sam? An inept goverment with no accountablity that makes that makes an addicted gambler look like a 12 step actuary by comparison? Show of hands? If there is no wealth creation, there is no job creation. What sane person will put capital at risk multiple times only to have that much confiscated should he/she prove succesful? Capital is fungible, and people are mobile....dont expect it to stay where the business enviroment is not freindly.

you should post more often. Perfect !!!

[ElKabong]

Watch what NG /natural gas is doing. Price has spiked tremendously recently.

Chesapeake and others here are balking at local govt's request to recycle water from fracking & other requests. Wells are being capped. Supply will eventually go down while demand will rise due to NG being used down the short term road as a quasi alternative.

I locked in my corp thru mid 2007 at current pricing for electricity rates this week. That should keep me off anyone's shit list & employed for awhile. Lots of things going on in that industry, elect rates here will likely spike within 18 months, likely sooner. NG will become more in demand at some point

[Bettowin]

Watch what NG /natural gas is doing. Price has spiked tremendously recently.

Chesapeake and others here are balking at local govt's request to recycle water from fracking & other requests. Wells are being capped. Supply will eventually go down while demand will rise due to NG being used down the short term road as a quasi alternative.

I locked in my corp thru mid 2007 at current pricing for electricity rates this week. That should keep me off anyone's shit list & employed for awhile. Lots of things going on in that industry, elect rates here will likely spike within 18 months, likely sooner. NG will become more in demand at some point


UNG making a nice run over the last 30 days.

[DJofSD]

Difficult to believe this (http://news.yahoo.com/french-government-pay-cut-031039281.html) order by Hollande will actually happen.

Maybe he's trying to set an example for Greece, Spain and Portugal?

[badcompany]

High taxes caused Swedish doctors to become house painters? I have no answer to that one. :confused:

You did the smart thing going to work for the government. You have no head for business.

Say the doctor gets into the 90% tax rate. If he grosses 10k a week, he's only taking home 1k.

So, if a painter is gonna charge him 3k to paint his house, it makes economic sense for the doctor to take a week off work and paint his own house.

Get it? Of course, you don't. The same way you don't understand why someone might do something for $500 but not $250.

And, if you're gonna respond, how about not being a weasel and don't put your response inside my quote so that you can't be quoted, or is that too much to ask?

[badcompany]

I haven't posted in some time but can't resist here. Who on this board would gladly give 75% of their total income to uncle sam?

Mostpost would gladly give 75% of YOUR income to Uncle Sam:lol:

[JBmadera]

Where can I find the 200 week moving average?

hopefully I have correctly loaded a 10 yr, weekly, chart of the ZGM12 futures contract. The red line is the 30 period EMA

[IBCNU]

This is essentially the model that the European Union functions under. "If it neither picks my pockets nor breaks my leg" (Thomas Jefferson)....ahhhh dem good ol days.

[badcompany]

First of all - I really thought you might try harder on these quoted replies so that I wouldn't have to do the dirty work trying to clean them up just to reply.

Okay - if a business is profitable, and the guy (or gal or gender neutral) is a greedmeister deluxe, why wouldn't he want MORE profit? Isn't that a fairly profound incentive for reinvestment? I don't follow the logic you are trying to lead us around by here - it makes no sense to suggest that someone (particular this greedy slug you describe) would be less inclined to increase his profits if he is profitable.

He's trying to lead us to a union meeting.

The high taxes he is always calling for are needed to sustain public union contracts which currently are unsustainable.

The steadily declining union membership in the private sector is evidence of how well his economic theories actually work in the real world. Of course, he'll have some alternative explanation for the decline of private sector unions, but the truth is that they can't compete.

[lamboguy]

Lamboguy says 200 week. see 2 posts above and also a few other posts.
the gold rejected the $1525 area in a big way. its now in a range with a big wall to jump up at the $1685 area.

the mining stock that i really like in a big way is MUX

[DJofSD]

MUX is at or near a 52 week low. It looks no different than the rest of the sector embodied in GDX. What's so special about that company?

[lamboguy]

i know it got killed, its got some nice silver mines, and the guy that runs the company ROB MCKEWEN already turned a gold miner that i had from $4 to $50. he put $110 million of his own money in this company. i went to mining shows 12 years ago and met him there and he impressed me. put that together with the fact that they have already done a secondary and have plenty of cash on hand to last a long time.

[badcompany]

Say goodbye to the 200sma. It was nice knowing ya. A 10% drop in a month. Wow!

[lamboguy]

i know it got killed, its got some nice silver mines, and the guy that runs the company ROB MCKEWEN already turned a gold miner that i had from $4 to $50. he put $110 million of his own money in this company. i went to mining shows 12 years ago and met him there and he impressed me. put that together with the fact that they have already done a secondary and have plenty of cash on hand to last a long time.mux up 20% off the bottom, and was up today in a down market.

gold still dealing with $1525 even though its $100 over that level. odds favor the buyers over the sellers though at this juncture of time and going forward. if romney gets elected, gold will take off like a rocket ship.

[DJofSD]

Could've predicted this: http://www.telegraph.co.uk/finance/financialcrisis/9314666/French-president-Francois-Hollande-cuts-retirement-age.html

[JustRalph]

Could've predicted this: http://www.telegraph.co.uk/finance/financialcrisis/9314666/French-president-Francois-Hollande-cuts-retirement-age.html

Amazing....... they just ignore their economic situation and place more burden on the government.

I started a thread about this, before I saw your post. Sorry.......

[ElKabong]

Could've predicted this: http://www.telegraph.co.uk/finance/financialcrisis/9314666/French-president-Francois-Hollande-cuts-retirement-age.html

From the link, below, underlined...France's poulace wanted this,
they get their wish & I have no problem with it...Just as long as they understand when their economy
falters we don't bail them out.

It's up to France to make their system work...period

The reforms will cost the state billions of euros a
year but can be afforded through higher worker and
employer contributions, according to the government.
-snipped, from link

[DJofSD]

But the IMF will bail 'em out......ya, I know, I know.

[plainolebill]

http://i22.photobucket.com/albums/b318/plainolebill/ChampagneParty.jpg

[Robert Goren]

The refusal of Europe to deal with the solvency of its banks is the problem. They don't even have depositor's insurance over there. Our banks are not in the best shape but they are in lot better shape than Europe's.
As side note, there was story on CNBC yesterday that Moody's was going to down grade its rating of several US large banks.