Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Stock Review : Markets : News Wire : Quotes : Radio : Silver : Stocks - Main >> News >> Story  Disclaimer 
Latest Headlines

ďChindiaĒ Buying Gold on Dips, 20% Corrections Are ďNon EventsĒ
By: Mike Gleason and Frank Holmes

A Yellow Flag for Gold Miners
By: Rick Ackerman, Rick's Picks

Is Weak Productivity to Blame for Sluggish Consumer Spending?
By: Frank Holmes

Introducing Yield Purchasing Power
By: Keith Weiner

Asian Metals Market Update: October-25-2016
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver End Mixed
By: Chris Mullen,

Can Gold Continue To Rise, Since The USD Is Moving Higher Too?
By: Robert Alexander

Why are Americans avoiding the Stock Markets; fear or lack of money?
By: Sol Palha

SWOT Analysis: Is Now the Best Entry Point for Gold Investors?
By: Frank Holmes

The Dirty 30ís Are Back
By: Captain Hook


GoldSeek Web

A Tidal Swell of Delusion Lifts Stocks

By: Rick Ackerman, Rick's Picks

-- Posted Friday, 17 August 2012 | | Disqus

With U.S. stocks blithely on the rise against a darkening global economic picture, we keep telling ourselves itís only a movie, itís only a movie, itís only a movie. Except that it isnít a movie. Itís an epochal tide of delusion; it is quite real; and if it hasnít yet reached flood levels, it will soon, inundating stock markets around the world. For now, though, even as those once-tireless engines of growth, China, India and Brazil, grind their way toward economic limbo and the growing likelihood of synchronous global recession, it is still evidently possible for the Wall Street Journal to fairly rejoice over Julyís modest 0.8% rise in retail sales. Hallelujah! At long last, Americans have opened their wallets. After a three-month string of declines, the Journal need hardly have reminded us that three-quarters of U.S. GDP is consumption-based and that a sustained uptrend in retail sales is therefore crucial to reviving consumer confidence and, in turn, economic growth.

Would that a one-month credit-card spree were sufficient to lift us from the Great Recession! The term ďGreat RecessionĒ itself is used by everyone outside of politics and the news media to scandalize economistsí declaration in 2009 that the recession had ended. Yeah, sure. Tell that to twenty million homeowners who are still underwater in a housing market that has barely upticked on 3% mortgages. Or to millions who are either unemployed or earning far less than they did before the financial crash. Or to legions of former shopkeepers who have abandoned storefronts and malls, turning the retail landscape into a visual reminder that the recession never really ended. The Journal is hardly alone in cheerleading every statistical uptick that could serve to distract us from the previous dayís grim economic tidings. The public may have a short memory, but not that short. Nor does anyone believe, even on Wall Street, that a rising stock market is evidence of Americaís return to economic health. To the contrary, they see the bull market as a terminal effusion of hubris, corruption and greed.

If you truly believe that the U.S. is an oasis in an economically troubled world, then go ahead and buy the Dow up to 14000 (where it seems to be headed anyway, according to our technical runes). Meanwhile, although it is folly to think America will somehow avoid the grim economic fate of Europe, this is the story that the Wall Street Journal et al. would have us believe each time a stray piece of ďgoodĒ news hits the tape.


Trading stocks, options and commodities in these treacherous times calls for great patience and skill. Click here if youíd like to see how Rickís Picks approaches the challenge.

-- Posted Friday, 17 August 2012 | Digg This Article | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2016 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.