Oldtent Archives 2007 - 2008

You are probably correct in saying that credit at the main stream level is not a problem now in Canada.  But I say,  YET.  Because I think the day is near upon us that it will be difficult to sell a house in Victoria or the Lower mainland because many  hopeful buyers will not qualify for a mortgage.  This has nothing to do about the ease with which ment 17 can get his pre-approved mortgage; instead, it has to do with the tighter credit restrictions that I think are now being set in motion for persons of lesser wealth who, up to now, probably could have obtained a mortgage in Canada but soon may not be able to do so.

And I have not even mentioned what I think will be tighter lending requirements on small businesses that need to maintain inventory and meet monthly payrolls.  For 35 years our small company “created jobs“ for several persons, but there were many times when we could not have met payrolls or started new projects requiring  costly travel  to remote areas in northern Canada if we had not had a business line of credit.  For those who are not independently wealthy, I think that loss of credit-worthiness will lead to a loss of jobs and lessened consumer demand for things that are at at prices too high for the consumer budget - hence the reason I think that loss of credit-worthiness will lead to deflation (if deflation is defined by lower costs of goods and services, rather than the other definition which is less printing of fiat currency).    Best wishes.  Equiz.

…whats he gonna say now ?

Gold is the only uncoruptable form of money !

smart guy….

hope they fight harder and reach downtrend resistance at 960 today.

 Here is a list of Representatives from the great interior state of Indiana with the way they voted today on the Bailout Bill

Bailout vote 9-29-08

Noes

Rep- Peter J. Viscoloski  ( D)

Rep- Stephen E. Buyer  (R )
Rep- Dan Burton (R )
Rep- Mike Pence ( R )
Rep- Andre Carson (R)

Rep- Baron P. Hill ( D )

Ayes

Rep- Joe Donnlley  (D)
Rep- Mark Edward Souder  ( R )

Rep- Brad Ellsworth  ( D )

I too am reading lots of anecdotal evidence that americans are still getting 3 and 4 credit card offers daily in the mail..Also instant cc’s at Home Depot with 20k limits…Course this is for the credit worthy only, in other words, for the ones that don’t need it LOL.. Credit at the main street level doesn’t appear to be a problem..The problem is credit at the wall st level, none of them trust each others’ books to lend to each other hence the need for the Fed spigot being wide open…

Thanks for the explanation which I found very interesting.

I am often puzzled by things posted on Goldtent. I have a Dutch friend who recently told me that she finds some of the lingo here, especially the humour, hard to follow. She has lived here four years and speaks perfect English.  One takes for granted that a person will understand everything one says, simply because they speak the same language.

…and it could be coordinated with Other CBs in the G7…

…should be good for a buck or 2 in Gold

ear CIGAs,

Long term success does not depend upon the positive things that happen to you, but on how you handle adversity.
-Common theme in several notable quotes

The weight of the evidence for the global investment markets has swung from a recession with inflation problems, to the high probability of a deep recession or depression that lasts for years.

Governments everywhere have been slow, and some politicians have been unequivocally unwise. Those in the real estate, mortgage banking, insurance and investment communities who started the mortgage and derivative scandal that we have warned of for six years are to blame, and will carry the stigma for the remainder of their lives. Many will go to jail. Let us hope that we can avoid a great depression, but for now the wise course of action is to continue to protect yourselves.

No this situation is really not any different than missing a turn on the pitching rotation. I just wonder if we are losing yes votes or no votes.

Silver
stockcharts.com/h-sc/ui?c=,uu[h,a]daolyyay[dc][pb50!b200][vc60][iub14!la12,26,9]

Gold in Euro
stockcharts.com/h-sc/ui?s=:&p=D&st=2001-01-01&en=1979-01-01&id=p74709615910

Gold in Pounds
stockcharts.com/h-sc/ui?s=:&p=D&st=2004-01-01&en=1979-01-01&id=p72790948292

Gold / Copper
stockcharts.com/h-sc/ui?s=:&p=D&yr=3&mn=0&dy=0&id=p23205786345

This one had quite the BOUNCE today eh ?
Gold / Oil
stockcharts.com/h-sc/ui?s=:&p=D&yr=1&mn=0&dy=0&id=p44642042607

and now for something different

CDNX
stockcharts.com/h-sc/ui?s=&p=D&st=1998-01-01&en=1979-01-01&id=p86128796312

You didn’t really expect anything less did you!  

What are CNBC ratings going to be at Dow 8,200?  Household pets accidentally stepping on remote controls will give you a rating higher than they will get! 

kofax was competent in his profession and had many competent people around him. they could move the lineup around so that he could perform in a normal manner when scheduled. are you really going to compare kofax to a bunch of pear-shaped, political, self serving sleazeballs? (grin)

rno