I've been reading the autobiography of J.Paul Getty - As I see it. It's an interesting read.
He begins with a quote from President Abraham Lincoln.
"""You cannot bring about prosperity by discouraging thrift. You cannot help the wage - earner by pulling down the wage - payer. You cannot further the Brotherhood of Man by encouraging class hatred. You cannot help the poor by destroying the rich. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away a man's initiative. You cannot help men permanently by doing for them what they could and should do for themselves."""
Over the past fortnight, world markets have continued to rally on and world leaders continue to pat themselves on the back for their successful efforts at reviving a 'collapsing' world economy.
No one's focusing at the mega structural issues or excessive debt in the system!!!
While their premature self congratulation may be tested by market forces once stimulus packages are withdrawn, it's all good for now.
I remain concerned about stock valuations that leave no margin of safety. This could turn into a risky proposition if the world economy suffers a relapse.
The unwillingness of world leaders to find a sustainable long term solution and instead seek short term fixes ( cash for clunkers etc) is especially worrying. These guys should take note of President Lincoln's quote!
Gold prices struggled to stay above $1000, and are currently trading near $990. The USD has continued to stay weak on the back of increasing risk appetite. While the USD is looking oversold, its good to see gold prices continue their consolidation in the sub $1000 price band.
More updates soon.
No one's focusing at the mega structural issues or excessive debt in the system!!!
While their premature self congratulation may be tested by market forces once stimulus packages are withdrawn, it's all good for now.
I remain concerned about stock valuations that leave no margin of safety. This could turn into a risky proposition if the world economy suffers a relapse.
The unwillingness of world leaders to find a sustainable long term solution and instead seek short term fixes ( cash for clunkers etc) is especially worrying. These guys should take note of President Lincoln's quote!
Gold prices struggled to stay above $1000, and are currently trading near $990. The USD has continued to stay weak on the back of increasing risk appetite. While the USD is looking oversold, its good to see gold prices continue their consolidation in the sub $1000 price band.
More updates soon.
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