REPOST: Jim Rogers "Obama sees the markets collapsing because he was elected" 16 Nov 08
Lets take a listen to
Classic Friedman, because Obama and Co appear to offer the opposite.
An interesting exchange between Milton Friedman and Phil Donahue back in 1979
In case you Fools do not understand what is going on, I will repost some help.
Here is an
outstanding chart that can help you going forward, the formation is clear: http://www.elitetrader.com/vb/showthread.php?s=8994e7efb59379dba85dffae47adf532&threadid=128320&perpage=6&pagenumber=1
I do not care how many lines you draw on your pretty charts, or how many triangles, trend lines, support, even if you get 40000 RECS...it is mostly vodo garbage followed by Fools and pumped by sales men. (Elliot wave and moving averages MIGHT have some use, but they are not as useful as common sense)
Put away your Graham books, Buffett quotes and momentum trading advisors etc....In case you missed it, Buffett is in trouble and Graham lost 70% of his money during the Great Depression.
It is simple: people do not trust Obama, the FED, SEC and the markets. Nor should they given all the information unloaded in the last year. Obama and Co, likely only care about re-election, people will likely forget what is happening now. So Obama and Co are "swinging for the fenses", a 1 trillion++ "bail out" to their supporters.
See if JR can explain it:
Jim Rogers "Obama sees the markets collapsing because he was elected" 16 Nov 08
Jim Rogers Part 2
Talks about Ron Paul
"Obama sees the markets collapsing because he was elected"
"I covered a lot of my shorts in October...it looks like a selling climax...but it is not over...we have not seen the bottom, yet"
"this is a period of forced liquidations...buy things that have been unimpared"
"the bull market case for commodities is still intact"
Jim Rogers Part 3
"I have never sold a Chinesse shares...I have started buying Chinesse shares [again]"
"Chinesse have lowered rates"
"if you are in water treatment, infustructure, fertilizer...those are the one I have been buying"
Jim Rogers Part 4
"for 15 years Greenspan would not let his friends fail"
the Depression in the 30s was due to governments intervention
"Japanesse stock market is where it was 18 years ago"
"sure prices are down, this is due to forced liquidation"
"don't sell your gold, don't sell your sugar etc..."
"hold unto your real assets, that is the only place you are going to make real money in coming years"