Oldtent Archives 2007 - 2008

http://www.safehaven.com/article-11088.htm

Say what you want about em’ but they have been right consistently throughout this bull run.

Its too hot here to rest right past 100s and air quality not the best.  If my work days wern’t so mixed right now Id take off to the mountains. Trying times may just be beginning I fear. I was hoping the worst was over because they were catching those that were taking up housekeeping in forclosed homes, even one right next door that I think maybe the night..almost break in was about, for the fact he dissapeared so fast.Or say suspected it. He was living in this little house like shed in the back full of empty booze bottles. But I guess not. I think they talk amongst each other too.They can also poison animals.So I think I was more worried about my..so called watch dog..than myself. Although it is an un-easy feeling to leave home to work and not knowing what is going on while your gone.Someone told me you can buy a baby monitor and have it hooked up to a vcr. Have to check into that.Im thinking my dog may set off alarms.I remember yrs ago I had a 10 yr old girl come over crying she set off her parents alarm by touching the door, some idiot droped her home before checking if parents were there.So I called the security company but they said the cops have to come.I took the girl to one of her relatives, but although couple hrs later..no cops.Their are also secret type monitors that look like clocks and such you can get. Well what they didn’t get was my metals except a couple of coins, and as time goes on it would seem so imperitive to keep quiet or make people think they are in a safe deposit box even if they aren’t for fear of armed robbery.The time may indeed come where the physicals may be hard to get.Or so it seems at the moment. Hpoe everything is well in your neck of the woods. So peacefull over there in Northern Georgia, almost too peaceful when your not used to it. Hope your hanging in there.I guess like that saying. If I knew I was gonna live this long I would have taken better care of myself. I have a few post football patients right now, they both tell me the same thing,(post injuries bothering them now) it’s not worth it.One said something to the effect she told a woman whos son wanted to play football can’t remember it all was consentrating on his wound, to just take something like a baseball bat to his knee and get it over with, may even stop him from even more injuries playing football.Guess inadvertantly talking about beating yourself up. Have a good night. Least you can look up and see the stars there.

As a long time lurker and occasional poster, lately, I’ve been dismayed by the fervor, passion, aggression, and anger displayed by various folks as they press their points about prices, market direction, and various other interpretive positions.
You do realize that the most carefully reasoned and precisely crafted presentation can be rendered moot by an errant bus, a dislodged flake of cholesterol, or a drunken lout on a rampage.
All things must be kept in perspective.
In the end, we must each carry our own water and kill our own snakes.
Although we may point the way, we are not responsible for anyone but ourselves to take it.

I miss the train pictures.

Come to the chat room and grind your axe away.  If you have a beef, be a man and come get it off your chest.  I promise I won’t bite.

FDIC Quarterly Banking Profile (Q2 2008)

Second-Quarter Earnings Are 87 Percent Below Year-Earlier Level
Noncurrent Loan Rate Rises Above 2 Percent for the First Time Since 1993
Capital Growth Slows Despite Cutbacks in Dividends
Net Charge-Off Rate Rises to Highest Level Since 1991
Growth in Small Business Loans Slowed in the Last 12 Months
Deposits Decline in Domestic Offices
Two More Banks Fail in the Second Quarter

http://www.financialsense.com/Market/wrapup.htm

  You’re not disagreeing with me.

  You stated you were not in the Financial Armagedon camp. I understand what you’re saying, so I’m speculating that your view about gold is like that of any other commodity. Fundamentally it will go higher because we are in a long term commodity bull market, but will do so as the charts dictate.

   The financial armageddon guys like JS think gold is a currency - therefore it will act differently than other commodities because of systemic failure in the financial system.

I did the Prechter aurum search and I found that the result pretty much summarizes my time here. Scary.

aurum

Yes sir, Fay brought some much needed rain to these parts. Appreicate ole Wanka waving his arms at Fay, and driving her up our way.

What’s the matter Soee, a small bit of truth have you that disturbed?   Nothing, that I said was less then truthful , yet you once again answer with a personal attack.  Has is deflation treating you? Has that can of Tuna Fish gotten bigger  yet? 

The next article under the link you provided as some good reading as well.

“So if The Fed is in fact “in the business of moral hazard”, then we have just had The Dallas Fed admit a truth that is in fact quite uncomfortable for anyone who has a brain and is willing to use it - The Federal Reserve, as a consequence of how its mission is defined and how it chooses to discharge that mission, shifts costs and losses away from those people responsible for them and onto those people who have been and are prudent - that is, the American Public at large.

In short, what Rosenblum admitted - on national television - is that The Fed as currently constituted and operated exists to rob the public to cover the losses of wealthy investment and commercial bankers, thereby allowing them to take risks that they would never take in a market where idiocy (or even outright fraud) was punished by bankruptcy.

You were just told that this private group of banks, operating under Federal charter by our government, has as its mission in life robbing the public whenever and wherever necessary so that its clients are not forced to act in a prudent fashion. You also now know that The Fed has extended that list of “clients” to cover investment banks along with Fannie and Freddie.”

Always enjoy your timely and informative posts, Thanks, Farmboy

If you are having problems getting to the pit let me know - see the link to “chat room” on the sidebar at the top.  Otherwise I don’t want to hear your whining anymore.

Do a search for Prechter aurum and you will see this is a summary of prior posts. At one time he was on track - something happened. Don’t discount EW because of whatever happened.

aurum

Do I have to disagree with everyone tonight?

I do not believe in Armageddon in the near future. I do believe pog will go to numbers above my chart in the next decade and beyond. Look back at what I posted about fundamentals. The one point I strongly believe is don’t correlate this or that “fundamental” idea with what will happen. Each chart tells it’s own story. They may go up together or down together or go at opposites. Nobody I have ever come across could put all the fundamentals together in a package that told what would happen - except for charts. And as we know even those are problematic.

aurum

Nice to see you about the Tent!   Hope you got a lot of that nice Faye rain earlier in the week and all is well with  you!   I don’t think you will need the hat!