Posted by Mike (WA) on October 02, 2009 at 13:27:18 from (69.10.199.42):
In Reply to: OT: Dow Jones posted by jhilyer on October 02, 2009 at 10:16:14:
Its pretty much just a gambling game now- because when you think about it, except for the initial issue of stock, the price of stocks on the market have no direct link to the company. When I buy Coca Cola at $X, then sell to you at $Y, those prices just reflect whether investors (gamblers) think the stock price will go up or down, and have nothing directly to do with whether the Coca Cola company is selling any pop. Brokers will trot out all kinds of ratios and other BS, but ask them how that worked out for them a year ago, when EVERYTHING went in the tank. "We laugh at your stinking ratios", say the lemmings as they march toward the cliff.
I called my broker to enquire about owning gold or silver in my IRA, because I think the whole economy is going south, and I'll need something tangible to trade for goods and services, rather than worthless dollars- he said sure, you "invest" in some outfit that gives you certificates that you can send in, and they send you your gold. I laughed and told him he just doesn't get it- by the time the economic system has imploded and I need the gold, those guys will have long since stolen it all and fled for South America. The idea of those guys faithfully redeeming the certificates while everything collapses around them is just ridiculous- it'll be "every man for himself". He couldn't really disagree.
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