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In response to:

Gold Down Sharply

jparker iii Wrote: Nov 29, 2012 4:24 PM
The only concern I would have with the physical asset is what happens if the current administration should copy Roosevelt and try to confiscate gold and silver. Surely it would be tantamount to robbery, but can anyone effectively argue about it!
Democrats seem to love higher taxes as long as someone else pays them! Froom 1937-1962, the top rate was 90+% but the wealthy paid no taxes--They hid behind tax shelters. That continued until 1982 when Reagan cut rates to 50%. Then the shelter had to be really safe as they had to invest an equal amount. When they were lowered to 28% in 1986, shelters all but disappeared. The wealthy can always minimize their tax burden by putting their money in tax favored investments, That is another reason for a flat tax. As it stands today, too many pay no taxes but expect the government to do too much. We must return to reality before our utopians destroy our country....
In response to:

It's the Grand Spending, Stupid!

jparker iii Wrote: Nov 29, 2012 11:57 AM
Don't forget who we put in charge of both houses of congress with huge majorities starting in January of 2007. Dubya was screwed and hung out to dry for his last 2 years...
I am always surprised by those who fail to place the blame on the "Bernanke Fed" which raised interest rates 17 times in 17 months beginning in jan 2006 in the face of $3+Trillion in adjustable rate morgages. The poor folks, many who were well qualified, who got their loan at 4% or less in 2005 saw their rate increase to 6% in 2006, 8% in 2007 and 9-10% in 2008. A payent of $1500 in 2005 was $2500 in 2006, $3000 in 2007, and $3500 to $4000 just in time for an election. Most could no longer afford the payments and took a hike! The market began to fall apart as a result. . Blame the loan originators, blame appraisers, blame servicers, everyone but the Fed. They created a monster and blame everyone else.
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