WSJ Editorial: The Fed is Out of Ammunition

[samclem]

More grist for the worry mill. The author opines that continuing bailouts will just exacerbate the debt without positive effect, weaken the US currency (prompting foreigners to flee the dollar for gold) and ultimately lead to a situation like Japan's. Hey, he even includes some statistics for good measure!

I'm not buying it (yet), especially his clear but unstated call for a return to the gold standard. But, it's been awhile since we heard from the gold bugs, so this one's for them

Inflation, deflation, currency collapse--you can find an oracle for anything you might want to believe. I think it's time to invest in distilled spirits.

[Notmuchlonger]

Im going to take my remaining funds and become a professional poker player.

[barbarus]

Quote:

Originally Posted by samclem More grist for the worry mill. The author opines that continuing bailouts will just exacerbate the debt without positive effect, weaken the US currency (prompting foreigners to flee the dollar for gold) and ultimately lead to a situation like Japan's. Hey, he even includes some statistics for good measure! I'm not buying it (yet), especially his clear but unstated call for a return to the gold standard. But, it's been awhile since we heard from the gold bugs, so this one's for them Inflation, deflation, currency collapse--you can find an oracle for anything you might want to believe. I think it's time to invest in distilled spirits.

Sam, you left out HYPERinflation, the most likely scenario in my opinion.
Works well for all but the financially prudent.

[clifp]

Quote:

Originally Posted by samclem Inflation, deflation, currency collapse--you can find an oracle for anything you might want to believe. I think it's time to invest in distilled spirits.

I agree I just used the last of my cash to buy Diageo (DEO). Maker of such fine spirits as Johnny Walker, Smirnoff, Guinness, Bailey's, J&B.

If this market has not driven people to drink nothing will. So please drink up, but don't drive (You can't drink after your dead. )

[haha]

Quote:

Originally Posted by clifp I agree I just used the last of my cash to buy Diageo (DEO). Maker of such fine spirits as Johnny Walker, Smirnoff, Guinness, Bailey's, J&B. If this market has not driven people to drink nothing will. So please drink up, but don't drive (You can't drink after your dead. )

I've owned Diageo since before it was Diageo. Bought Guinness in the pink sheets in the early to mid nineties. They bought United Distillers, and later made the name change to Diageo. They always seem to be having this or that problem, but each year they send me more money.


I liked it so much I also bought Pernod Ricard. It also did well, but I sold it. I still have the ordinary shares, but also added some DEO along the way.

It is hard not to make money with tobacco or liquor, unless you pay too much going in. Any recent buys did not cost too much.

Ha

[NW-Bound]

Quote:

Originally Posted by haha ... I liked it so much I also bought Pernod Ricard. Ha

So did you support your companies by drinking their product? Make pasti, a Provençal drink, with Pernod?

[FIREd]

Currency collapse: do what the Russians do nowadays, spend it all before it's worth nothing.


Hum Pastis, nothing more refreshing in the summer.

[clifp]

Quote:

Originally Posted by haha It is hard not to make money with tobacco or liquor, unless you pay too much going in. Any recent buys did not cost too much. Ha

It is reassuring to know that you are long time shareholder. I wrote puts on it at $60 not expecting to get them exercised. I was very tempted to sell today, but I just have to remind myself that the long term prospect of the company aren't really different now than they were a few months ago, just the share price.

I must say I am really bummed that they don't offer any shareholder discounts on their our products Did Guinness when it was a stand alone company? My favorite beer