Global Market Commentary, Analysis and Investments
Is it time to buy a house? Maybe…
This morning we received a bouquet of flowers. It was from the woman who just sold us a house in Baltimore. She sent the flowers to say ‘thanks.’
“We must have paid too much,” we said to Elizabeth. ”She likes us. She probably figures she was lucky to find such retarded buyers.”
[Read more...]Joseph Saylin did not like to take chances. He didn’t trust people very much and he didn’t trust paper wealth very much. He trusted dogs and real estate…and that’s about it.
Joseph Saylin, my grandfather, was the son of Latvian immigrants. Joseph worked hard… always. And saved money… always. He was ambitious. He was a physician at the age of 21, a lieutenant in the US Army at the age of 24, a captain at 27, a major at 31, a colonel at 35. “I was always the ‘boy this’ and the ‘boy that,’” he would often boast during his twilight years. “I was the ‘boy doctor’ and the ‘boy colonel.’ A lot of guys were jealous. But they didn’t even think about how hard I worked.”
[Read more...]Cash is still king.
Cash is king because non-cash is a commoner and a loser…it’s losing its value. An article in yesterday’s Financial Times, for example, tells that:
“US inflation expectations at lowest point in year.”
In other words, forget inflation. Forget price increases. It’s cash…cash…cash.
[Read more...]Dead guys walking…
An article at the Zero Hedge website says Paul Krugman is either “an imbecile or a fraud.?
We wouldn't go that far. He might be only mildly retarded…or the victim of higher education. He has learned so much about modern economic theory that there is no room left in his brain case for good, old common sense.
[Read more...]Let it be, let it be, let it be, let it be…
Simple words of wisdom – let it be
The Dow lost 107 points on its first day of trading after Labor Day. Gold rose to within $3 of its all-time high.
What do you make of it, dear reader?
Watch the bonds… We could be seeing the first crack in the bond market. But it seems too early to us. It seems more likely that the bond market will stretch this out…bringing more and more hapless investors on board before finally sinking.
[Read more...]The US real estate market stepped up to the plate this week…and struck out, again. Completely whiffed on three pitches, in fact.
Strike one came on Monday…when the Treasury released its latest numbers on the Home Affordable Modification Program. The background: 1.24 million borrowers have enrolled in the program – which was launched with the hope of helping 4 million.
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Is It Time to Buy a House?
Is it time to buy a house? Maybe…
This morning we received a bouquet of flowers. It was from the woman who just sold us a house in Baltimore. She sent the flowers to say ‘thanks.’
“We must have paid too much,” we said to Elizabeth. ”She likes us. She probably figures she was lucky to find such retarded buyers.”
[Read more...]