From local to global – this is in essence what has happened over the past few months, which have been gripping. I was watching testimonies on C-Span.org, sometimes simultaneously chatting with my sister though Skype as she’s based in London watching the same.
I got my simulated portfolio into a real one in the meantime with Questrade, trying Forex as well as stocks. My October performance was about 30%, I has a simple 4-stock portfolio, 2 companies, hedged with two ETFs : GLD and SLV, tracking gold and silver respectively. Meanwhile, most Hedge Funds seemed not to be hedging at all.
Roubini and Schiff, mentioned a long time ago here on YashLabs, since then have been everywhere on T.V. for their cutting commentaries. Nicholas Nassim Taleb has also been present and there’s a seminal video with Taleb and Roubini, and Taleb saying that the new Government should have appointed someone like Roubini to help.
This is not what Obama did, did he? This is why the US is going to be under severe distress for longer, maybe much longer. The only man who would have done something concrete, is Dr. Ron Paul. He understands the essence of the Austrian School of Economics, and is well read in Ludwig Von Mises and Murray N. Rothbard. Barack Obama is a good man, but when it comes to the fundamentals of Economics, he is clueless, otherwise he would have asked Ron Paul, Peter Schiff or Nouriel Roubini for help. I wasn’t really cheering on his election and I was mocked by friends but this is why. And now that he is in place, another massive debt is taken from the Federal Reserve with the newest bailout, tightening the noose of debt around the average American person.
“The dollar will crash.” – Yash.
There is so much more to write, but instead, I now want to watch the show “Inside the Meltdown” broadcasted on PBS yesterday.
Here it is:
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