Oldtent Archives 2007 - 2008

I saw this derivative crisis coming, and I think this post  still has the best illustration of what is happening.   Since then we have tumbled a few times in midair, but not landed yet.  This will not end well.

 I told my daughter about the Dangriga Childrens Clinic a couple weeks ago and today she surprized me with a few products on her Web Page to aid the Clinic.She has determined that she could donate 2/3 of her portion of any sales to the Childrens Clinic .

The Web Page is

http://www.zazzle.com/thedrunkenpug*

look for “Dangriga Childrens Clinic” and view the products.Please give me some feed back on the effort.

Ororeef

is extremely effective at convincing the population that the media portrays the views and beliefs of the majority. The TRUTH is that the mainstream media is LOSING it’s GRASP on the control of public opinion.”

Lord Give Me a Sign - RON PAUL

Excellent Video 

http://www.youtube.com/watch?v=Oir9tpq6mgQ

I wonder what you would say if anyone ever told you to “get the lead out of your pants”. <G>

It will get real interesting when the pension and “retirement package” types get the message…all this “bundling” of crap can be delayed but not resolved. 

The classic “shit hits the fan” scenario…

 The clowns in charge of things understandably feel that they have to do something — or pretend to — in the face of what is shaping up to be not just a credit “crunch,” but a potentially lethal illness in the credit system per se — that is, in the very process of trading in paper that claims to represent faith in the future creation of wealth. That process underlies all of modern finance. Investments, currencies, economies, and nations hang in the balance.

President Bush, seeming very much the clown-in-chief, led the way last week by proposing a mortgage crisis bail-out that would appear to have no chance whatsoever of working as advertised. He called it, arrestingly, the Hope Now Alliance.

But how can it work? The president said that this relief action would apply only to those who were current in their payments or no more than 60 days behind. Is it possible that a federal bureaucracy that could not even helicopter bottled water to desperate people trapped in plain sight on highway overpasses in New Orleans in 2005 can process millions of sheaves of relief applications in 60 days? Or even concoct the forms and print them?

 The purpose of it is not to save the hapless occupants of over-leveraged houses, but first to buy a little more time so that the worker bees in the financial industry can justify awarding each other multi-million-dollar Christmas bonus packages, and second, to postpone the “workout” of all this bad investment as far into the future as possible.

http://jameshowardkunstler.typepad.com/clusterfuck_nation/2007/12/spirit-of-the-s.html

Ya gotta remember….’ole Ron is on the outside lookin’ in. He’s tryin’ hell for hard to make his charts and delta turning points fit his position. I’ve said all along I enjoy reading Rosen’s work. However, sometimes his chart reading trumps common sense. The deal about the HUI going sub-400 by a couple of points being a huge concern is too much for me to take. That to me seems to be counting on chart mechanics to be calibrated much finer than is humanly possible. You could have one stock in the HUI index have a bad day and cause a person to think gold is headed for a long bear market. Impossible. The current fundamentals in the pms are much too strong to think gold can go back and start over at square one. Ain’t gunna happen. All the best.—-aggie.  

Rosen’s article started to make me wonder how the buck would react to only a 25 bp cut.  If they cut by 50bp our stuff is gonna rip.  25 bp may hurt POG.. we’ll find out soon enough.  I believe equity options expire next friday. 

A couple of ST charts to keep an eye on after today’s candles:

Taseko and Great Basin did well today…a good sign…especially if this is the start of a run in the metals in general…

The choice of GBG warrants was a wise one indeed.  I wish they were traded on the US exchanges.

Maybe 10 Dec. is a date to remember.  If Jesse says on 10 Dec. that POG could be at $900 by year-end, I can handle that.  Dec. 10 this year I would chalk up as a good day for us.  Some laggards in our portfolio finally stirred to life - Northern Dynasty up 5%, Taseko up 12 %, and Great Basin Gold up 12 %.  Actually with GBG we hold only warrants at present, and they were up 20 % today.  Best wishes and hope you also found this date in December a good day.

Equiz

What are they accepting now? One of these?

I figure that is his estimate of when they’ll run out of trees to make paper with………..

Yes, he did say that..The interview is linked for your viewing pleasure..  Cheers AuGirl