DGL and LMCA

[Havakasha]

In your world 2 politicians from the same party should never disagree. I did say you were a rigid
ideologue didnt I.

Anyway there is always more to any story that Siriuslywrong reports.

Clinton: 'I'm very sorry'

CNN's Ashley Killough
(CNN) – Bill Clinton regrets the swirl over comments he made earlier in the week in which he appeared to suggest he would be open to extending the so-called Bush tax cuts for the wealthy, the former president said Thursday.

"I'm very sorry about what happened," Clinton said in an interview to air on CNN's "The Situation Room with Wolf Blitzer." "I thought something had to be done on the 'fiscal cliff' before the election. Apparently nothing has to be done until the first of the year."


Republicans seized on Clinton's remarks this week when he said lawmakers will likely put off a series of major spending and budget decisions. They argued the former president was siding with many in the GOP who call for the extension of the controversial tax cuts largely opposed by Democrats.

"[Congress] will probably have to put everything off until early next year," Clinton said Tuesday during an interview with CNBC. "That's probably the best thing to do right now."

The "fiscal cliff" consists of measures set to begin in January that would remove more than $500 billion out of the economy in 2013 alone. Those measures include the expiration of the Bush tax cuts and protection of the middle class from the Alternative Minimum Tax, the onset of $1 trillion in blunt spending cuts, and a reduction in Medicare doctors' pay.

On Thursday, however, Clinton argued that he, in fact, supported President Barack Obama's position, which calls for an end to the tax cuts only for those making $250,000 or more.

The former president emphasized he was mistaken about the timing of the fiscal cliff when he made his comments, thinking it would happen before the November election, rather than at the beginning of next year.

"I really was under the impression that they would have to do something before the election, and I was trying to figure out how they would kick it to last (through) the election," he said.

He continued: "Once I realized that nothing had to be done until the first of the year, I supported (Obama's) position. I supported extending them last year, but I think his position is the right one and necessary for working out a comprehensive (deficit reduction) deal."

http://politicalticker.blogs.cnn.com...rry/?hpt=hp_t1

[Havakasha]

Still wondering what you gleamed from the article I posted on gold?

[SiriuslyLong]

In your world 2 politicians from the same party should never disagree. I did say you were a rigid
ideologue didnt I.

Anyway there is always more to any story that Siriuslywrong reports.

Clinton: 'I'm very sorry'

CNN's Ashley Killough
(CNN) – Bill Clinton regrets the swirl over comments he made earlier in the week in which he appeared to suggest he would be open to extending the so-called Bush tax cuts for the wealthy, the former president said Thursday.

"I'm very sorry about what happened," Clinton said in an interview to air on CNN's "The Situation Room with Wolf Blitzer." "I thought something had to be done on the 'fiscal cliff' before the election. Apparently nothing has to be done until the first of the year."


Republicans seized on Clinton's remarks this week when he said lawmakers will likely put off a series of major spending and budget decisions. They argued the former president was siding with many in the GOP who call for the extension of the controversial tax cuts largely opposed by Democrats.

"[Congress] will probably have to put everything off until early next year," Clinton said Tuesday during an interview with CNBC. "That's probably the best thing to do right now."

The "fiscal cliff" consists of measures set to begin in January that would remove more than $500 billion out of the economy in 2013 alone. Those measures include the expiration of the Bush tax cuts and protection of the middle class from the Alternative Minimum Tax, the onset of $1 trillion in blunt spending cuts, and a reduction in Medicare doctors' pay.

On Thursday, however, Clinton argued that he, in fact, supported President Barack Obama's position, which calls for an end to the tax cuts only for those making $250,000 or more.

The former president emphasized he was mistaken about the timing of the fiscal cliff when he made his comments, thinking it would happen before the November election, rather than at the beginning of next year.

"I really was under the impression that they would have to do something before the election, and I was trying to figure out how they would kick it to last (through) the election," he said.

He continued: "Once I realized that nothing had to be done until the first of the year, I supported (Obama's) position. I supported extending them last year, but I think his position is the right one and necessary for working out a comprehensive (deficit reduction) deal."

http://politicalticker.blogs.cnn.com...rry/?hpt=hp_t1

Yes, politics........

All one need do is read, "..... Apparently nothing has to be done until the first of the year."

And this one, "The former president emphasized he was mistaken about the timing of the fiscal cliff when he made his comments, thinking it would happen before the November election, rather than at the beginning of next year."

yeap.

[Havakasha]

DgL closed down to 55.47 or down 0.47 -- 0.84%
LCMA Closed up to 87.30 or up 0.57 --).0.66%

Just as a reminder. When we started this "bet" DGL was at 54.51 and LMCA was at 79.67.
Im doing quite well as of today. SiriuslyWrong is sticking with Peter Schiff for the long haul.
Lets see who ends up having made the best investment decision.

[SiriuslyLong]

I sold this week for a 17 or 18% gain. Missed out on the 25 to 30% gain...

Oil is at $78. The economy is said to be slowing down driving commodity prices down, but we aren't seeing yet in our plant. Orders are still strong.

I taught you how to calculate % change.

DGL: (54.51 - 55.47) / 55.47 = (1.7%)
LCMA: 8.7%

That's a nice gain on LCMA. Are you going to ride it out some more?

[Havakasha]

Glad to see you sold. I knew you would come to your senses. LMCA was clearly the more intelligent choice. Be careful in the future when listening to your guru "economist". He did afterall say gold was going to $12,000 in the next year and a half and that 2009, 2010, 2011, and 2012 were going to bring HYPERinflation to the U.S. What a joke.



SiriuslyWrong say he sold at 55.47 for a 17 or 18% gain. Based on past experience I dont actually believe he did what he said he did. I think its funny however that a guy who says he "taught" me how to calculate a % change doesnt know if it was a 17 or 18% gain. lol
DGL's high for the year was 66.80. If he sold at 55.47 he would have lost out on a 37% or 38% gain (not 25% to 30% as he said).


Im a long term investor generally. I will hold onto it for quite a while unless something drastically
changes with the company.

20% of 55.47 is 11.094. add that together and you get 66.56. I gave him a little break since the high was at 66.80.

Goodnight.

[Havakasha]

A quick check on the continuing trajectory of our bet. LMCA closed above 104 (a new 52 week high). DGL has more or less treaded water, though it closed above what Siriuslywrong "sold" it for. As I told him many times Mr. Schiff is not the person you want to follow when it comes to economic forecasting. Interesting enough it turns out that Paul Ryan is a huge believer in the Austrian school of economics that Mr. Schiff and Mr. Siriuslywrong put so much faith in. Unbelieveable.

[SiriuslyLong]

A quick check on the continuing trajectory of our bet. LMCA closed above 104 (a new 52 week high). DGL has more or less treaded water, though it closed above what Siriuslywrong "sold" it for. As I told him many times Mr. Schiff is not the person you want to follow when it comes to economic forecasting. Interesting enough it turns out that Paul Ryan is a huge believer in the Austrian school of economics that Mr. Schiff and Mr. Siriuslywrong put so much faith in. Unbelieveable.

It looks as if gold is starting to rise. Should have held a little longer. Same with Oil. It's back up to the 90's.

http://www.google.com/finance?q=NYSEARCA%3ADGL

Sold a lot of SIRI lately. Looks like it may have topped out. Now what to do with that cash?

Schiff and Erica Payne squared off on Fox Business News today. Payne wouldn't shut up so Schiff just started talking. What a mess it was. Schiff was exasperated. Here it is.

http://video.foxbusiness.com/

[Havakasha]

12 Worst Predictions about the U.S. Economy

Of course you had to know Peter Schiff would be making one of those. LOL
http://www.huffingtonpost.com/2012/0...p_ref=business

[Havakasha]

Selling some Siri was a good move after the big runup. I sold some at $2.59 and $2.55. Wish i had sold more.
Does look like gold is making a little move, but you have to think long term about whether it is the best investment. Unless of course you trade it like everything else.