Black Monday

[BlackPeter]

Anyway, in the end I did add to my precious metals positions via Perth Mint Gold's fund. This is now 8% of my financial assets. It felt dirty buying gold at such high prices but whatever. I like the cut of Mark Mobius's jib and he said I should be buying gold at any price.

https://www.youtube.com/watch?v=DgLGIqhpwsA&t=1s

Will I keep it at around 8%? Probably. Most of my shares are now boring utilities and other dividend players and I have cash on hand as well. I do have Rio and BHP which will probably sh*t themselves when the recession comes but I figure the world will still need copper and other commodities so I'll look away as they get cut in half, keep the DRP going, and think of sunny uplands.

The gold position is a hedge albeit a poor man's one. But importantly in means I will be able to stay broadly invested in the markets.

I think you overestimate the impact a drowning England will have - at the end it is just 2.5% of the world economy and it soon will be less. Not saying that we might not get a recession, but I doubt it will be due to Brexit, however this shapes out - unless it happens to be the infamous straw breaking the camel's back ...

[Bobdn]

No, my decision is separate from Brexit. I'm just taking some chips off the table. Losses seem to hurt me a lot more than they use too.

[BlackPeter]

No, my decision is separate from Brexit. I'm just taking some chips off the table. Losses seem to hurt me a lot more than they use too.

Fair enough ...

[Bobdn]

Everybody calm down, the recession is years away according to Robert Schiller.

https://www.cnbc.com/2019/10/20/shil...mp-effect.html

[blackcap]

We all better hope that Trump wins 2020... can't imagine what Warren or Sanders would do for the economy.

Nobel-prize winning economist Robert Shiller believes a recession may be years away due to a bullish Trump effect in the market.

According to the Yale University professor, President Donald Trump is creating an environment that’s conducive to strong consumer spending, and it’s a major force that should hold off a recession.

[Bjauck]

We all better hope that Trump wins 2020... can't imagine what Warren or Sanders would do for the economy.

Nobel-prize winning economist Robert Shiller believes a recession may be years away due to a bullish Trump effect in the market.

According to the Yale University professor, President Donald Trump is creating an environment that’s conducive to strong consumer spending, and it’s a major force that should hold off a recession.

I don't know about the current democrat hopefuls but some research indicates Democrats are better for the economy.

economists-agree-democratic-presidents-better-making-us-rich-eight-reasons

https://www.jec.senate.gov/public/in...can-presidents

[BlackPeter]

We all better hope that Trump wins 2020... can't imagine what Warren or Sanders would do for the economy.

B/S - Trump might have slightly extended the long economic bull run started by Obama by reducing taxes for his super rich friends and for companies, but he used up his ammunition - or do you propose he introduces negativ taxes for his super rich friends?

We start already to see the beginning of the end of Obama's bull run and the first indications of the Trump slump.
Just look at the early indicators in the United States: car sales and tourism going downhill. Manufacturing and agriculture contracting.

https://www.nytimes.com/2019/10/03/o...p-economy.html

The last thing the world economy could afford is four more years of corruption and erratic decision making of an not calculable economic arsonist with the maturity and mental stability of a kindergarten bully.

[blackcap]

B/S - Trump might have slightly extended the long economic bull run started by Obama by reducing taxes for his super rich friends and for companies, but he used up his ammunition - or do you propose he introduces negativ taxes for his super rich friends?

We start already to see the beginning of the end of Obama's bull run and the first indications of the Trump slump.
Just look at the early indicators in the United States: car sales and tourism going downhill. Manufacturing and agriculture contracting.

https://www.nytimes.com/2019/10/03/o...p-economy.html

The last thing the world economy could afford is four more years of corruption and erratic decision making of an not calculable economic arsonist with the maturity and mental stability of a kindergarten bully.

Thats ok, I was just quoting Schiller. You can disagree with him if you want. I do note he has a Nobel and you do not.

[BlackPeter]

Thats ok, I was just quoting Schiller. You can disagree with him if you want. I do note he has a Nobel and you do not.

How do you know?

But anyway - he didn't receive a Noble price for the article you referred to ... and by the way - with these Nobel prices it is similar to titles. Some deserve them, some not, but whatever it is, they are awarded for (perceived) past achievements. Some knights, Sirs and Dames turned into crooks (as we all know) and some nobel price recipients turned into idiots. Past performance does not guarantee future results.

[blackcap]

with these Nobel prices it is similar to titles. Some deserve them, some not, but whatever it is, they are awarded for (perceived) past achievements. Some knights, sirs and dames are crooks (as we all know) and some nobel price recipients turned into idiots. Past performance does not guarantee future results.

That I totally agree with. Plenty of Noble's like Obama's after he had done nothing etc.

As for Schiller I was just implying that he must be an economist of note. I do vaguely remember the name from some Finance textbooks at University that seemed to quote a lot of a dude named Schiller so he must be pretty good.