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Hey genius. Selloffs this sudden and quick aren't because joe blow down the street decided inflation isn't coming. It's because large banking ins utions decide to sell a load of paper all at once
Bitcon busted, is gold next?
Source: CBS
FULL story at link.NEW YORK Gold had its biggest one-day drop since 1983 on Monday as a selling frenzy that began last week picked up speed.
The price of gold plunged $140.30 to $1,361.10 an ounce, a decline of 9 percent. The metal has dropped $200 an ounce, or nearly 13 percent, in the last two trading days. It's the lowest price since February 2011.
The sell-off started Friday when the government reported a drop in inflation. Investors often buy gold when they're fearful of rising prices and sell it when they see inflation ebbing.
A proposal last week that Cyprus sell some of its gold reserves to support its banks also spooked investors, leading them to worry that Spain, Italy and other weak European countries might flood the market just as demand for the metal is weakening.
Read more: http://www.cbsnews.com/8301-34227_16...op-since-1983/
the elephant in the room is the drop in inflation....the drop...drop.... in inflation...
Commodities in general were hit hard today, and a lot of that flows from the China news. But no commodities were hit harder than Gold. All these Republican nitwits have driven a panic that our "massive, unprecedented deficit spending" will drive a big inflationary cycle. We have been heading toward a bubble in gold because there just aren't any signs of high inflation. When you have so many people unemployed worldwide and so many idiots in power pursuing a strategy of austerity, it is hard to actually have much inflation....
So the gold bubble was ready to burst, and the China news is the bit that could push it over the edge....we'll see tomorrow...
Last edited by Nbadan; 04-15-2013 at 10:02 PM.
Hey genius. Selloffs this sudden and quick aren't because joe blow down the street decided inflation isn't coming. It's because large banking ins utions decide to sell a load of paper all at once
Because there is no inflation...in fact, there may soon be deflation...ns utions decide to sell a load of paper all at once
So the large banking ins utions decided inflation isn't coming.
not with China crashing and burning...
7.7% growth is crashing and burning?
I know, right?
I mean, our modern stock market is a perfectly functioning discounting mechanism isn't it?
China is crashing and burning. You don't make it illegal for single men to own 2 apartments because you have a well functioning economy.
The yuan is only up vs the dollar because they are internationalizing the RMB.
Growth rate off 0.2%
Panic time? Some think its healthier world wide to slow down. The end of The Bush presidency must have lost you some years.
Sounds more like a housing shortage.
And link?
And link?The yuan is only up vs the dollar because they are internationalizing the RMB.
Not panic...just a realization.....a 7.7% growth would be inflationary here...not in China were they expect 10% growth...
I read they were expecting 7.9%. Ie the same.
they were expecting 8%, but the markets figure that in ahead of time and when expectations aren't met, you get what you had today..
still ahead if you bought in 09 under 1000, sell out today ur still 66% ahead
Guess I don't know what crash and burn is.
...as in any bubble the greedy will get their heads chopped off...
You really can't compare the US and chinese economies. It's a country of a billion people with millions and millions still extremely poor. What for us would be awesome for them is much less so. If they had GDP growth like the US there would literally be a revolution.
I told you all the bubble would burst.
It's called a correction, not the end of the world. Pretty early to claim deflation is coming.
This is true. Read somewhere that China need 8% GDP growth just to provide jobs for new young people coming into the workforce.
china gdp/ppp per capita is 1/6th of USA
http://en.wikipedia.org/wiki/List_of...PP)_per_capita
China being plutocratically corrupt as USA, has extremely high wealth inequality.
communism vs capitalism?
GMAFB it's universally the 1% vs the 99% Wealth Class Warfare
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