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Sunday, October 10, 2010 – with Ron Holland
Exclusive Interview
Doug Casey
The Daily Bell is pleased to present an exclusive interview with Doug Casey (left).
Introduction: Doug Casey has appeared on hundreds of radio and TV shows, and has been the subject of articles in People, US, Time, Forbes, The Washington Post, and numerous other publications. For nearly three decades, Doug Casey and his team have been correctly predicting major budding trends in the overall economy and commodity markets.
A brief synopsis:
Daily Bell: How about stocks? Will the American stock market continue to go up as it did in September?
Doug Casey: I don't want any part of the stock market, anything could happen to it. Sure, it could go up but I am not interested in gambling at this point. Fundamentally, it's way overpriced. And not only are earnings likely to collapse, but P/E ratios are likely to fall; we're in a major bear market. In a depression the most important thing is to keep what you have.
You can't be in the stock market today because earnings could collapse and the stock market is not cheap by any parameter. So where are you going to put your money and your assets? Gold is no longer cheap but in relative terms it's the cheapest thing that I can think of out there. I am anxious to trade my gold for common stocks, but I doubt I'll pull the trigger until I can get good companies for 8-10% dividend yields—which could well be when gold goes into a mania, and hits $5,000. So it's not that I am planning to hold gold forever but it's still the best place I can think of.
But I am accumulating certain junior mining stocks.
Daily Bell: Will the Fed and other central banks continue to print large volumes of money even though quantitative easing is not working?
Introduction: Doug Casey has appeared on hundreds of radio and TV shows, and has been the subject of articles in People, US, Time, Forbes, The Washington Post, and numerous other publications. For nearly three decades, Doug Casey and his team have been correctly predicting major budding trends in the overall economy and commodity markets.
A brief synopsis:
Daily Bell: How about stocks? Will the American stock market continue to go up as it did in September?
Doug Casey: I don't want any part of the stock market, anything could happen to it. Sure, it could go up but I am not interested in gambling at this point. Fundamentally, it's way overpriced. And not only are earnings likely to collapse, but P/E ratios are likely to fall; we're in a major bear market. In a depression the most important thing is to keep what you have.
You can't be in the stock market today because earnings could collapse and the stock market is not cheap by any parameter. So where are you going to put your money and your assets? Gold is no longer cheap but in relative terms it's the cheapest thing that I can think of out there. I am anxious to trade my gold for common stocks, but I doubt I'll pull the trigger until I can get good companies for 8-10% dividend yields—which could well be when gold goes into a mania, and hits $5,000. So it's not that I am planning to hold gold forever but it's still the best place I can think of.
But I am accumulating certain junior mining stocks.
Daily Bell: Will the Fed and other central banks continue to print large volumes of money even though quantitative easing is not working?
We look forward to hearing your feedback on today's Daily Bell.
Sincerely,
The Editors
theDailyBell.com
Sincerely,
The Editors
theDailyBell.com
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