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goldminingXpert (29.49)

Ben lets the cat out of the bag...

Recs

51

October 01, 2009 – Comments (16)

In testimony, Comrade Ben Bernanke said, "If growth is 3% going forward, the US unemployment rate will stay above 9% for all of 2010."

This leads to the obvious question -- if growth is 0%, or more likely -3% going forward, where is the US unemployment rate... the answer doesn't add up to an S&P reading over 1,000.

16 Comments – Post Your Own

#1) On October 01, 2009 at 12:54 PM, kdakota630 (29.62) wrote:

Very much the point of the blog I posted under my KDakotaFund profile.

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#2) On October 01, 2009 at 1:01 PM, goldminingXpert (29.49) wrote:

Sorry, didn't mean to rip off your post -- I just saw Ben say that live a few minutes ago, so I thought it was a semi-original thought.

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#3) On October 01, 2009 at 1:03 PM, silverminer (31.54) wrote:

+1 rec for the both of you! :)

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#4) On October 01, 2009 at 1:08 PM, kdakota630 (29.62) wrote:

GMX, mine was more regarding your comment about the S&P shouldn't be at the 1,000 level as opposed to being about Bernake or the unemployment rate.  No theft involved.

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#5) On October 01, 2009 at 1:44 PM, binve (< 20) wrote:

What? Ben eats baby kittens!!

.... :) Thanks GMX.

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#6) On October 01, 2009 at 1:50 PM, jstegma (29.22) wrote:

Very good point.  Steady 3% growth seems a bit of a stretch right now.  Frankly it seems like a huge stretch, like a best-case scenario.

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#7) On October 01, 2009 at 1:55 PM, EPS100Momentum (72.39) wrote:

No, the real truth is Ben has let you out of his bag.

How many times do you have to be wrong? Oh I know until your right one day. Thanks for today's bargains in the market.

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#8) On October 01, 2009 at 2:03 PM, Rehydrogenated (32.49) wrote:

Are you saying gmx is wrong? gmx isn't even making an original projection. He's extrapolating in a very logical way from something our government told us with the help of legions of economists (if you can call them that).

HOW CAN YOU POSSIBLY BE MORE BULLISH THAN THE GOVERNMENT?

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#9) On October 01, 2009 at 2:08 PM, goldminingXpert (29.49) wrote:

EPSMomentum, remember what happened shorting every pop quit working in March? What's going to happen when buying every dip quits working?

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#10) On October 01, 2009 at 2:15 PM, motleyanimal (92.28) wrote:

I'm ready for a 10% drop in October. Another extension of unemployment insurance is the only thing that might save Christmas.

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#11) On October 01, 2009 at 3:17 PM, Bays (30.43) wrote:

EPSMomentum, remember what happened shorting every pop quit working in March? What's going to happen when buying every dip quits working?

Touche

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#12) On October 01, 2009 at 3:55 PM, kaskoosek (87.64) wrote:

EPSMomentum, remember what happened shorting every pop quit working in March? What's going to happen when buying every dip quits working?

 

Very funny comment. 

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#13) On October 01, 2009 at 4:12 PM, AdirondackFund (< 20) wrote:

Congrats GMX on your nearly 1,000 point day.  I didn't mean to sell you short when commenting on Alstry's Blog earlier today that you were up only 800pts. at the time.  Next stop?  100.00

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#14) On October 01, 2009 at 5:26 PM, Alchemyfinancial (< 20) wrote:

"EPSMomentum, remember what happened shorting every pop quit working in March? What's going to happen when buying every dip quits working"

 

Very good point gmx.  Personally I think that the top was hit. early 2010 could lead to some serious declines.  although I must say I don't believe it's a matter of is the s&p worth 1050,as much it is where else can you go?  people have there "issues" with gold, thats fine let them, they will always be the"dow" crowd. Stocks, gold and most importantly gold stocks will prevail as people take there money and flee from banks.  The premeir short now, will be bonds, specifacly the 30yr bond as it reaches closer to 120.

 

Dow- 25000?possible. sure why not as long as a "weak dollar" continues to be "good" for stocks in the eyes of the "experts".  They can't put there money in banks thats for sure.

I think we agree for the most part im just saying  view things from the point of veiw of these people who've been buying nothing but IBM for the last 20yrs.  they know nothing else.  they can buy the dow and ill buy gold and when dow's 25,000 and gold is 5000 we'll see who came out ahead.

 

-J

 

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#15) On October 05, 2009 at 5:01 PM, d1david (29.20) wrote:

WHAT?  the dow can't reach 15,000 with unemployment next year at 15%? 

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#16) On October 06, 2009 at 7:51 PM, BravoBevo (99.97) wrote:

"[R]emember what happened [when] shorting every pop quit working in March? What's going to happen when buying every dip quits working?"

+1 rec for the simplicity of gmx's home run quote ... instant classic. 

 

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