Not sure if this is accurate but I thought interesting.....
End of year gold price:
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- $1421.00.
"The banks did real good though, even got the taxpayer to guarantee virtually all of the loans."
With the taxpayer taking all the hits, I guess this would guarantee the Wall Street Overlords their exponential bonuses will continue indefinitely......
The Fed keeps threatening that they "will act if the recovery fails". That pretty much proves that the recovery will fail, otherwise they'd have no reason to issue these threats.
What do we do now?
That's because loan loss allowances are at purposely kept at low levels. If they were where they should be, bank earnings would be greatly reduced....They do this because they can....Do we even live in reality anymore?
Well, obviously you have to pay more interest on 12T of debt than 6T. So that's money that could have been used elsewhere and wouldn't taxes have to be raised to cover the increased debt interest payments....
I saw a speech Schiff did in 11/06 where he talked about the RE bubble and
he also made reference in that speech to his saying something about inflated RE prices a year before.......I think this 06 speech was in front of some LV mortage bankers....
Based on what my Dad paid for Chinese tires for his F150, adding 35% on top of
the $50 ea. he paid, is still $42.50 cheaper per tire than what he was quoted for USA made
tires......
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