Archive for the ‘Economics’ Category
777
This is a test post using ScribeFire (new tool) on my old blog, which I am now resurrecting. It has been a few days since I stopped participating on the Reasonable Rationals forum (where I made 2,240 posts in a year), and with the world as we know it coming to an end, I need a place to comment on current events… even if nobody reads them.
I moved the index page of my blog to the front page of this website; but all the old files are still where they always were. My old index file has been renamed, so that it can be accessed at the [Old Site] link on the right in the Internal Links section and will then function as it always did. Once there, the “Home” button will bring you back here. (Eventually, I will change its name to “Blog,” and delete the current “Blog” button, which is currently a broken link… I don’t have Expression Web installed on this machine, since all my websites are now dynamic, so I will have to drag out the laptop to fix it.)
I guess the word for today is 777. Interestingly, that was almost exactly 7% of the market wiped out in a single day, and I got the news from a TV set in a bank as I drew out most of my ready cash. I left just enough to keep my debit card useful for gasoline stations, etc. I expected to get an argument, but didn’t. She even had it in the drawer and didn’t bother to call a manager. There wasn’t a long line, or anything like that; but I got the impression that they had become quite accustomed to folks walking in and withdrawing several thousand dollars in cash. I intended to buy some more silver with it, but silver has dried up all across the country. Even Kitco can’t supply small denominations:
The following products have been temporarily removed from our Precious Metal Store until further notice due to production and delivery delays that retailers are currently facing; 1 oz Gold bars, 1 oz Kitco Gold bars, 10 oz Gold bars, 1 oz Silver Eagles, 1 oz Silver Maples, 1 oz Silver Philharmonic coins, 1 oz Olympic Silver Maples, 100 oz Silver bars and 1 oz Palladium Maples.
Since congress promptly decided to take a couple of days holiday after their failed bailout bill crashed it, tomorrow’s stock market activity should be rather interesting too. It sure feels good not to have any assets invested there. Since they did not pony up the $700bn the financial markets needed, reports are that the FED printed another $650bn today! The future for gold is looking brighter all the time. â—„Daveâ–º
