Value Microcaps Free-For-All

[bbotcs]

roguedolpin: Your boy Schiff was on Larry Kudlow's show last evening. He was the odd-man out. Said to ignore the statistics the Government puts out--watch the U.S. dollar and the price of gold as the barometer reading as to whether we are going off of the cliff.

Which begs the questions, "Will Bernanke reverse the trend of interest rates and do an immediate raise if the U.S. dollar starts to plunge." This could happen today, for goodness sake.

IMO we are at the edge of the cliff looking down. When another guest countered his arguments by saying Japan lowered their interest rates to this level in the 1990's, Schiff countered that by saying Japan was not a major debtor nation.

This is my thought: Nothing has changed except that it appears the banking system has been saved. The people who get the lower rate mortages, as I've said in the past, will not be the people nearing forecloseure; it will be people who can afford to remain in their homes. And, will they use the savings for idiotic consumer purchases--I think not. They will save the money for educations, new cars, etc.