21 March 2011

Spring? Happy Days are Here Again?

Well, the calendar may say it's spring but I sure wouldn't know it by looking out the window or at the thermometer. It snowed all day Friday and it's snowing right now. The temp is 35. Must be global warming. I said global warming was a boondoggle from the start and nothing has happened to change my opinion. The whole thing is just another scam to scare people and part them from their hard earned cash. Like we need more of those types of things.

Over the weekend the UN started to bomb the heck out of Libya and there seemed to be some progress on getting Japan's nuclear reactors under control. This morning the Dow made a moon shoot on all the happy news. Well, there was some not so good news on the economic front but on one wants you to focus on those. Building permits came it at an historic low and this morning real estate sales were reported down nearly 10%. Oil, which dropped during the Japanese earthquake, is now soundly back above $100.

These markets are just insane. It's like watching a manic depressive or someone with ADD. One minute this is good next minute it's bad. It happens so fast that it's hard to keep up.

There is one thing that seems to just keep moving along and that's precious metals. When I got into them, in 1999, gold was around $300/oz. Today, it's trading above $1,400/oz. I told many of my friends and acquaintances that gold was the place to put your money. But, the dot-com craze was the gamble du jour and I was laughed at universally. It always amuses me how people cannot wait to take the advice of so-called experts, all of whom have a vested interest in your taking that advice. And, when someone with absolutely nothing to gain tries to advise a little common sense they are shunned. There is an old saying "The more things change, the more they remain the same." One thing that never seems to change is peoples endless desire to be led down the primrose path.

The "Oracle of Omaha" came out and said Japan is a buy. So, I guess everyone will be buying the Nikkei. I use to have a lot of respect for Warren Buffett but that was before the media and the public decided to deify him. If you think Buffett gives a fig about you and your wealth think again. What he cares about is his shareholders and Bershire Hathaway. He talks his own book. He is well aware of the impact of his public proclamations.

Now I hear there is a new comet, Elenin, headed our way this fall and it's supposed to be a bad omen, as if we need more bad omens especially in the fall.

The "big" moon yesterday was quite something to see. They say it won't be that large again until 2029. It was much more extraordinary in person.

Things are changing and they are changing faster than most realize. I think within two years life as we have known it is going to be changed forever. How do I know? The same way I knew gold was a great investment back in 1999.

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