Date: Thu, 9 Oct 2008 15:38:19 -0700 (PDT)
From: Mervyn Lobo <[EMAIL PROTECTED]>
>
Conservatives want govt regulations for all environments.
Liberals DO NOT want the govt to interfere in "free markets."
>
Mario observes:
>
This is not only absurd it is exactly the opposite of what political
conservatives and liberals believe in the US.
>
Mervyn writes:
>
Let me take this back, fiscal liberals do not want the govt to interfere until
the market back fires on them. Then they want to govt to use tax payers money
to help their failing senses and failed business. In other words, they want to
keep all profits, but let taxpayers pay for
the losses.
>
Mario responds:
>
More absurd comments that ignore reality and recent events.
>
As we have seen recently from the experiences of Bear Stearns, Lehman Bros,
Washington Mutual, Countrywide Mortgage, Wachovia Bank among others, it is a
rare exception for American taxpayers to underwrite a private corporation that
is in financial difficulties. In almost every case in which they have done so,
so far, the financial instruments that were used were paid back to the
taxpayers with interest.
>
Mervyn wrote:
>
The question I am asked most often now is: Why does fortune smile on you?
My answer, as?always, is: It also smiles on people who agree with me :-)
>
Mario asks:
>
Can you name one other person who agrees with you who has won a lottery? Those
who agreed with you and bought gold when it hit $1,000 are sitting on huge
losses right now.
>
Mervyn wrote:
>
I am really surprised that Mario came up with a report showing that the current
dollar value of the 1980 price of gold is closer to $2,250.00 With gold trading
today at $900.00.
>
Mario responds:
>
No report I used showed that the "current dollar value of the 1980 price of
gold is closer to $2,250.00" You obviously failed to understand what was
written. Here is what it actually said:
>
"In January 2008, 28 years after the all-time record high of price of $850 in
January 1980, the nominal broke the record. In inflation adjusted US dollars,
the price would have to reach about $2,200 to break the record in real terms."
>
Mervyn wrote:
>
I am reminded of the first law of investing: Buy low.?
>
Mario responds:
>
Unfortunately, you have been unable to explain how you figure out when a price
is "low". None of your three serial explanations for the low price of gold
made any sense.
>
