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Wednesday, December 29, 2010

Porter Stansberry: Bumpy Road Ahead; Go for International Blue Chips and Gold, Short Low-Quality Stocks

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Porter Stansberry: I'm fascinated by the way the crisis is unfolding. The U.S. government is still willing to add enormous amounts of new debt. And it is willing to underwrite not only quantitative easing in the U.S. but also fund it in Europe as well. These are symptoms of a much bigger ongoing problem-the enormous sovereign debt crisis in the Western democracies.
I think we're going to see a lot more quantitative easing. We're going to have to see a lot more fiscal deficit growth going forward, especially with a union between the Republican House that wants to cut taxes and the Obama administration that wants to extend benefits. "You let us cut taxes and we'll agree to extend benefits." Of course, that's the worst of both worlds in terms of our fiscal position because it will result in vastly bigger spending and less tax revenue. There's no other government that will even attempt adding vast new debts at this stage in the game. Americans still have no idea of the risks our government is taking with our currency.
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2 comments:

  1. PR2011,

    I've decided to begin a weekly gold and silver coin purchasing program as a hedge against inflation and U.S. dollar deflation. If I had enough cash, I'd buy good bottomland across the river. Commodities like corn and soybeans are likely to keep increasing in price as the world population increases and as market speculators hedge against the inflation which is being predicted. This has already begun as this year's corn and soybean prices were higher than they have been in many years.

    Dick Schaefer
    HermannHearsay.blogspot.com

    ReplyDelete
  2. I have since 2005 been buying silver and gold bullion coins via ebay...If your careful, watchful and do not get into bidding wars you can get a good price occasionally. I refuse to bid higher than current Spot Melt Price and have done pretty well using that strategy.

    We also buy our Meat in bulk from a real butcher...side of beef, butchered hog, whole chickens, plus deer meat from hunting season...we have 2 deep freezers that are old but still work great (these were given to us by friends of the family) we save quite a bit of money that way.

    PR2011

    ReplyDelete

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