Oldtent Archives 2007 - 2008

My point about MLB salaries is that they are not reflective of US real wages.  If they were, we wouldn’t have an inflation problem IMO right now.  The upper 2% are getting incredibly rich while the rest of us are getting raped by the hidden tax to put it bluntly.  The falling dollar has largely contributed to the latest inflationary trend, but there is little doubt that many large pools of asset prices are deflating.  I don’t see this as unusual that you’ve got both inflation and disinflationary forces at work at the same time in the current situation.  If we had a massive longer term hyperinflationary problem on the horizon, you would think interest rates on the 30 year bond would be many magnitudes higher – especially if there was a risk that the trillion dollar deficits would likely default down the road or be paid back with a worthlessly inflated currency. Will hyperinflation be able to truly get off the ground or will rising debt rates and unbridled destruction of credit lending step in to crush it?  I have no idea.

….take it back to maxinum days

stockcharts.com/charts/performance/perf.html?,,,,,,,,,

looks like the yen is going to start gaining on the euro. go to the alaron charts provided by the goldtent site. look at the yen barchart but especially the euro/yen barchart.

rno

jessescrossroadscafe.blogspot.com/2008/07/market-manipulation-will-continue-until.html

real short term right about here at 970. little longer short term 955 and longer than that short term 943 as of last friday’s 90 min chart. wj

  Sinclair said we’d get up around the $1000 mark and then pullback before vaulting thru $1000 to up around $1200.

  If I’m reading him right then maybe we pullback to the $940-$950 area before we resume the march higher? If so, I’m hoping that the 425-430 area contains any HUI pullback.

   The boys did a number on us today but they still couldn’t float the broad market - so BFD. They are getting weaker, no question about it.

   Love to hear y’all talk baseball and cards. I’ve got more than I care to admit. I’m not a big A-Rod fan, but when it comes to cards, his rookie will hold the most value of any to play the game currently or in the last 20 years. I’m betting he breaks the 800 HR mark unless his career ends early for some reason. If he stayed in Texas, maybe 900.

stockcharts.com/h-sc/ui?s=:&p=W&st=2000-10-01&id=p02679275664

interesting I agree…what does it say to you ?

here’s another take on some currencies….for full effect drag the left side of the 200 day box all the way to the left

stockcharts.com/charts/performance/perf.html?,,,,,,,

….”downside” come in at?  Now, that Mars has attacked……………where does Venus show us some love?

Re: Chairman’s Corner - Tuesday, July 15, 2008
Title: SEC to Move Against Short Sellers
Author: Jim Sinclair

——————————————————————————–
Dear Friends,

I received the following note from my long time friend and investment manager, Monty Guild. I’m sure the SEC is motivated by market attacks on financial companies but there may be some relief here for junior entities as well. Let’s keep up the pressure on these illegal shorts, naked or otherwise.

Jim Sinclair

Dear Jim,

I know you are aware about the SEC attack on the rumor mongering financial shorts….. now they are also going after the non borrowed shorts on small cap stocks.

It used to be you had 13 days if you failed to deliver. Now it is shortening up to keep naked shorts out of the game. If this is really prosecuted, it could be a huge help for the small caps of all types in the US that have been fraudulently hammered with untrue internet postings and planted articles etc.

Next stop Canada, hopefully.

Your pal,

Monty

To a very large extent, aren’t those MLB salaries indirectly paid by factory workers, salesmen, and anybody who watches cable tv……..goes to games…….buys things with the MLB logos, etc.   I guess you could argue that the contracts are longer term in nature and do not reflect spending over the last year………or “peak late”, but I know several people who take the whole family to MLB games several times a year and have not cut back.  Maybe MLB is one of those areas where people don’t cut back, first.

 I guess we do have to remember that if the Dow is down by 74% from the 2000 top in terms of the “dollar effect”, than we need to adjust those wages by 74% to compare them to the year 2000.

Just thinking out loud.  Oops, that would be “dollar inflation”, wouldn’t it?

do you collect baseball memorabilia?

rno

Sure thing that has a lot to do with it in certain industries.   On the other hand, it would be interesting to see the average salary of wage earners in occupations that aren’t prone to outsourcing in industries where demand has stayed level — jobs like postal workers, bakers, healthcare, waste management, etc.  As you know, when wages are unable keep up with rising costs, you’ve got an inflation problem.  If wages were rising faster then headline inflation - would inflation still be a problem?