Permanent Portfolio Forum
https://gyroscopicinvesting.com/forum/
Personally when it comes to finance especially I've always preferred my step-dad's definition of an expert: "ex" is someone who isn't what they used to be, and a "spurt" is a drip under pressure.
This is satire, I hope.tomfoolery wrote: ↑Wed Mar 10, 2021 9:58 pm As a long-time registered Democrat, I’ve been disheartened by the scourge of alt right extremism we’ve had on this otherwise mostly common sense centrist forum. Although no surprise since the PP was invented by a lunatic who didn’t want car companies to install airbags or seatbelts because he wanted America to be more like Somalia because freedom!
Well, the more I think about it, I wonder if the whole PP idea isn’t just for the loonies who won’t wear masks and think covid isn’t real. Because it has 25% in gold which has been doing really poorly the last 6 months. Like a huge drag on the PP.
The point of gold is to protect against inflation but TIPS do that and if you hold to maturity you can’t lose money because they guarantee a real return unlike gold which is just a shiny rock.
The Fed Chairperson Jerome Powell has said inflation is 1.4% and maybe will reach 1.7% at the worst in coming years. So if we have low inflation and our government economic experts are telling us this, then why hold gold? Why not TIPS?
I put full faith in our government environmental scientists to tell us about global warming, full faith in our government health scientists to tell us about Covid, so why wouldn’t I also put the same faith in our “economic scientists” to tell me about inflation?
I drive a Prius because the experts tell me it’s good for the environment. I wear two masks to the grocery store and cancelled my gym membership because it’s good for public health. Why would I ignore the economic experts and hold 25% of my money in gold when they offer TIPS with a guaranteed inflation adjusted rate and also are telling us inflation is only at 1.4%?
If someone didn’t wear a mask and got covid, it’s because they ignored the health experts. If someone is holding 25% of their portfolio in gold and lost 15% over the last 6 months in gold, it’s because they’re ignoring the economic experts.
I’m no expert and I have enough to think about these days. So I’m listening to the experts and selling my gold to buy TIPS.
tomfoolery wrote: ↑Thu Mar 11, 2021 11:39 am
whatchamacallit wrote: ↑Thu Mar 11, 2021 11:35 am
Thanks tomfoolery. I do appreciate a democrats advice on this.
That way I at least know the correct and smartest thing to do.
It’s not a democrat or republic issue, it’s not a left or a right issue. It’s common sense you listen to experts.
I don’t go to the car mechanic and disagree on what type of quantum inverter induction coil she wants to install in my radiator.
tomfoolery wrote: ↑Thu Mar 11, 2021 11:39 amIt’s not a democrat or republic issue, it’s not a left or a right issue. It’s common sense you listen to experts.whatchamacallit wrote: ↑Thu Mar 11, 2021 11:35 am Thanks tomfoolery. I do appreciate a democrats advice on this.
That way I at least know the correct and smartest thing to do.
I don’t go to the car mechanic and disagree on what type of quantum inverter induction coil she wants to install in my radiator.
murphy_p_t wrote: ↑Fri Mar 12, 2021 10:27 am
Is the parody account (tomfoolery) attempting to convince PP diehards to release the gold coins in their hands so he can scoop them up at bargain basement pricing?
Specifically which government experts are you referring to who say inflation isn't a threat?tomfoolery wrote: ↑Fri Mar 12, 2021 6:09 pm
You must also believe government economics experts who say inflation isn’t a threat.
Ah, I see. I must have missed the part where he defined the rise to 1.7%.tomfoolery wrote: ↑Fri Mar 12, 2021 9:10 pmYes, I’m referring to the Fed Chairperson who said inflation is currently at 1.4% and could rise to 1.7%glennds wrote: ↑Fri Mar 12, 2021 7:40 pmSpecifically which government experts are you referring to who say inflation isn't a threat?tomfoolery wrote: ↑Fri Mar 12, 2021 6:09 pm
You must also believe government economics experts who say inflation isn’t a threat.
It couldn't be the Fed Chairman. On March 5th, he signaled an expectation of increased inflation, and believe me, the markets took notice.
Sub-2% inflation is nothing to worry about. In fact, according to legitimate economists, it’s good. It’s deflation that’s the real killer of economies.
Socially conservative but fiscally liberal.jalanlong wrote: ↑Thu Apr 01, 2021 2:27 pm That is an interesting topic...what do people's savings or investment vehicles say about their political bent? For example, my very left leaning in-laws in California just keep their money in a bank. None of them participate in Wall Street in any way, shape or form. My grandparents (also Democrats) also wanted nothing to do with stocks. All Savings accounts and CDs for them. The Libertarians I know generally use the PP if they are older, Bitcoin if they are younger and Gold if they are really pessimistic anti-government types.
If you were 100% stocks, what would that say about your political persuasion?
Exactly the opposite as me!!whatchamacallit wrote: ↑Thu Apr 01, 2021 2:32 pmSocially conservative but fiscally liberal.jalanlong wrote: ↑Thu Apr 01, 2021 2:27 pm That is an interesting topic...what do people's savings or investment vehicles say about their political bent? For example, my very left leaning in-laws in California just keep their money in a bank. None of them participate in Wall Street in any way, shape or form. My grandparents (also Democrats) also wanted nothing to do with stocks. All Savings accounts and CDs for them. The Libertarians I know generally use the PP if they are older, Bitcoin if they are younger and Gold if they are really pessimistic anti-government types.
If you were 100% stocks, what would that say about your political persuasion?
Or that you have an infinite lifespan because you are leaving most of it to your kids and future generations. If I were to go 100% stocks I would try to skew towards dividend payers like JNJ or UNP. Then let the dividends supplement my social security. I wouldn’t touch the principal of the stocks and let them remain for my kids. In that scenario I am ambivalent about daily or even yearly trends.tomfoolery wrote: ↑Thu Apr 01, 2021 4:08 pm100% stocks could say that you're a libertarian but have a finite lifespan and believe the government can keep the market irrational longer than you can be alive.jalanlong wrote: ↑Thu Apr 01, 2021 2:27 pm That is an interesting topic...what do people's savings or investment vehicles say about their political bent? For example, my very left leaning in-laws in California just keep their money in a bank. None of them participate in Wall Street in any way, shape or form. My grandparents (also Democrats) also wanted nothing to do with stocks. All Savings accounts and CDs for them. The Libertarians I know generally use the PP if they are older, Bitcoin if they are younger and Gold if they are really pessimistic anti-government types.
If you were 100% stocks, what would that say about your political persuasion?
tomfoolery wrote: ↑Wed Mar 10, 2021 9:58 pm
The Fed Chairperson Jerome Powell has said inflation is 1.4% and maybe will reach 1.7% at the worst in coming years. So if we have low inflation and our government economic experts are telling us this, then why hold gold? Why not TIPS?
Once he gets inflation under control in 2025....we'll be good.Jack Jones wrote: ↑Thu Jun 16, 2022 4:04 pmtomfoolery wrote: ↑Wed Mar 10, 2021 9:58 pm
The Fed Chairperson Jerome Powell has said inflation is 1.4% and maybe will reach 1.7% at the worst in coming years. So if we have low inflation and our government economic experts are telling us this, then why hold gold? Why not TIPS?
In Jerome Powell We Trust
