Chart usGOLD   Chart usSILVER  
 
Food for thought
Man wishes to be happy even when he so lives as to make hapiness impossible
St Augustine  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1172.63-25.97
Silver 16.04-0.44
Platinum 1230.60-7.70
Palladium 778.252.35
WORLD MARKETS
DOWJONES 17195227
NASDAQ 456617
NIKKEI 16414756
ASX 550548
CAC 40 422079
DAX 9273158
HUI 165-13
XAU 68-5
CURRENCIES (€)
AUS $ 1.4251
CAN $ 1.4075
US $ 1.2566
GBP (£) 0.7850
Sw Fr 1.2063
YEN 140.5280
CURRENCIES ($)
AUS $ 1.1343
CAN $ 1.1201
Euro 0.7958
GBP (£) 0.6251
Sw Fr 0.9599
YEN 111.8270
RATIOS & INDEXES
Gold / Silver73.11
Gold / Oil14.67
Dowjones / Gold14.66
COMMODITIES
Copper 3.120.01
WTI Oil 79.91-0.61
Nat. Gas 3.72-0.01
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
Investors Fear More than Just a ‘Fiscal Cliff’
Published : November 08th, 2012
384 words - Reading time : 0 - 1 minutes
( 11 votes, 1.4/5 ) Print article
 
    Comments    
Tweet
Keywords :   Europe | Facebook | Government | Nickel | Reality |

 

 

 

 

The Dow plunged 313 points yesterday, but don’t believe news media reports that it was the nearness of the “fiscal cliff” that caused the selloff. What spooked investors is a bigger picture that recognizes the economically catastrophic implications of a second Obama term. To be clear, there is nothing Romney could have done to avoid the deflationary Depression that lies ahead. However, a Romney presidency might have at least served as a reality check, delaying the onslaught of hard times for perhaps long enough to allow Americans to put their financial houses in order before austerity hits with the force of an earthquake, as it has in Europe.

 


 

We’re not going to dwell on the choice Americans made on Tuesday. Suffice it to say, the election has substantiated conservatives’ worst fear – that, sooner or later, Big Government’s clients would come to outnumber those of us who pay for the criminal extravagances of their voracious welfare state. Actually, it turns out, drones needn’t have outnumbered taxpayers, since the quirks of the electoral college have enabled them to execute a coup even though they lacked a statistically significant majority.

 

Bread and Circuses

 

Now, with a $16+ trillion federal deficit that is growing by more than a trillion dollars per year, the nation’s descent toward insolvency can only accelerate, further widening the gap between tax revenues and outlays. Soaking the rich, even by taxing them at 100%, would not begin to arrest the decline, but just try to tell that to those who voted for Obama. Bread and circuses will be their reward, and far be it from us to predict that they will feel unsatisfied. Rather, the opposite should hold true, since it will not have cost the 47% a dime.

 

As far as the stock market is concerned, we were quite surprised to find some bullish opportunities in the dozen or so charts reviewed in real time during a “Hidden Pivot Analysis” session held Wednesday morning at Rick’s Picks. Amazon, Priceline and Facebook, among others, look promising, suggesting these companies, and presumably a few others, may be able to buck a depressionary tide, perhaps by focusing on nickel-and-dime sources of revenue. If you’re interested in the details, as well as the reasons for our bearish outlook on the broad averages, watch the session recording.

 

 

 

 

Tweet
Rate :Average note :1.4 (11 votes)View Top rated
Previous article by
Rick Ackerman
All articles by
Rick Ackerman
Next article by
Rick Ackerman
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, a daily trading newsletter and intraday advisory packed with detailed strategies, fresh ideas and plain old horse sense.
Rick Ackerman ArchiveWebsite
Most recent articles by Rick Ackerman
10/27/2014
10/20/2014
10/20/2014
10/13/2014
10/6/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer