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David Weidner's Writing on the Wall
April 26, 2011, 12:00 a.m. EDT
View all David Weidner's Writing on the Wall "º
"¹ Previous Column
A worst-case scenario looms for New York
First Take "º
Stock market likes consumers with less confidence
By David Weidner, MarketWatch
NEW YORK (MarketWatch) "” Buy gold.
There's no risk. It never loses value. Except in 1915-20, 1941, 1947, 1951-66, 1974-76 1981, 1983-85 1987-2000 and 2008. In inflation-adjusted dollars, gold cost $4,000 an ounce 30 years ago. Inflation is for dollars.
Buy gold.
The world is a mess. We've never seen a time like this: the Middle East and North Africa are in upheaval. Japan has been battered by atomic energy. The U.S. economy is sluggish. The Book of Revelation was a picnic compared to modern times.
Buy gold. It'll keep you warm.
Buy gold.
Your dollars are worthless. You can't buy a flat-screen TV with them. You can't send your kids to college with them. Money can't buy you love or happiness, put food on your table, pay for a trip to see the grand kids, put gas in your tank or pay the bills.
The Federal Reserve is printing money like Amazon prints books. Money is everywhere and it's worthless. Everyone is knee-deep in cash. Line your birdcages with it. Use it for toilet paper. The Fed will give you more. The dollar is so cheap it went on sale at Groupon and no one signed up. The deal is off. They can't give money away.
Buy gold /quotes/comstock/13*!gld/quotes/nls/gld GLD -0.20% .
Paul Vigna discusses why gold prices are at a fresh record and silver is flirting with $50 an ounce first the first time since 1980.
Because the U.S. economy is finished. We don't innovate. We don't make anything. General Motors Co. /quotes/comstock/13*!gm/quotes/nls/gm GM +0.05% revival? Smoke and mirrors. Software? Who uses that? Biotechnology? No one's interested in living longer in these times. Health-care stocks? Technology stocks? Bank stocks?
Our central bank has pumped $600 billion in dollars into the economy. That's $2,000 for every person in the United States. Talk about worthless, you can't even buy a couple of ounces of gold for that.
Buy gold.
Homes are so 2006. U.S. housing prices continue to fall. They'll never come back. People don't like roofs and plumbing and a garage for their GM cars. Houses are for flipping. Gold is forever. Rent an apartment, put your gold on the floor and stare at it. It will keep you warm.
Buy gold.
We've been out-Chinese-ed, out-German-ed and India-ed. Those economies are the envy of the world. Chinese banks haven't made any bad loans and it's a Shanghai-La as long as you can live on $6,000 a year and aren't one of the billions of people who can't speak or move about freely. And talk about opportunity: Who wouldn't want their 10-year-olds working in a factory stripping copper from old computer monitors? Everyone works.
David Weidner is the Wall Street columnist for MarketWatch. He formerly covered M&A and financial services at The Daily Deal, American Banker and Dow Jones. He writes the Writing on the Wall column which appears Tuesday on MarketWatch and Thursdays on WSJ.com. He also is a regular contributor to the News Hub.
It should not come as a big surprise that the latest consumer-confidence data shows a jump, since the stock market has been so strong. Yet historically the market tends not to thrive following high consumer-confidence readings.
1:28 p.m. Today1:28 p.m. April 26, 2011
"As usual we won't be watching "@piersmorgan: excited to be finally interviewing the great David Frost. we're billing it 'FROST-MORGAN'."" 7:01 a.m. EDT, April 26, 2011 from davidweidner
"Do you have a plan for when the iluminati and Chinese come to enslave you? Buy gold. http://t.co/jXmn03k" 6:15 a.m. EDT, April 26, 2011 from davidweidner
"Buy gold. http://t.co/jXmn03k" 6:11 a.m. EDT, April 26, 2011 from davidweidner
"David Weidner's Writing on the Wall: Buy gold: Do you have a plan for when the Chinese and the Illuminati come k... http://bit.ly/hhfaxm" 11:03 p.m. EDT, April 25, 2011 from davidweidner
"the algorithm does not compute RT @JoeSaluzzi: Combined vol of $SPY,$QQQ and $IWM is 82mm. $SLV volume is 168mm currently." 2:36 p.m. EDT, April 25, 2011 from davidweidner
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