Steve Forbes: Tough Talk About the Economy
Steve Forbes, during our last webinar – the Emergency Dollar Summit — rips apart the reckless spending of government. Listen in as Wayne Allyn Root and Steve Forbes dissect what could happen if we stay on this reckless spending spree.
2/16/2010 11:46:27 AM
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Well, I expected something a bit more from Mr. Forbes... can't say I agree with everything he said as it doesn't seem to coincide well with other information we have been hearing... particularly here.
2/16/2010 4:13:43 PM
although, I have to add, we never should have left the gold standard to begin with.
2/16/2010 4:14:46 PM
I respect Mr. Forbes, but i can't agree with the mutual funds concept. Aftershock seems to feel that would also be the wrong place to put you money. Buying gold, the physical gold is a good idea which is what i did and put it in a safety deposit box at the bank. I don't feel the stock market is a safe place to be at this time, although i do have some gold and silver but am watching very close and will cash out the second it looks like danger is approaching.
2/16/2010 4:25:06 PM
Gold yes - broad stock market no. There may be a few winners in the mix but overall I believe we still have another major dip or two to weather. The dollar's got some hammering to weather so gold and silver should be a good bet intermediate term.
2/16/2010 4:47:58 PM
Forbes is right. We need gold standard. But we will never do it. What are other readers of Aftershock doing right now to make money???
2/16/2010 4:59:47 PM
What are the pros and cons of storing your gold, and other valuables, in a safety deposit box in the bank at a time like no other in our history? Will you be allowed to retrieve your valuables if the dollar collapses, and your bank closes? How will you access your safety deposit box if our electronic grid is hit by terrorists? in the event of another major disaster?
2/16/2010 5:04:39 PM
Wesley, I can tell you what I'm doing. I'm continuing to educate myself on how to stay in front of our governments insatiable appetite for currency. I'm investing in things that people need rather than what people want. At the end of the day, needs trump wants, and I think we are heading for the end of the day.
2/16/2010 5:36:24 PM
I'm surprised he didn't mention gold as a hedge. Also, I think he's a bit optimistic on the stock market. I think Lary has the right idea.
2/16/2010 6:03:54 PM
It's time to take action and protect your assets any which way you can... Buying silver and gold will help enormously but selling your toxic assets now is a must... Also, build an emergency food supply with essentials... water, canned goods, vitamins, TP and soap...
Good Luck and God Bless...
2/16/2010 6:04:04 PM
We have been living in a fantasy world since the end of WWII. We have lived it up on borrowed money since before the gold window closed in '71. The dollar and gold are just beginning to reflect this, China is in a huge overbuilt bubble, Japan and Europe are in debt up to their ears similar to the US. There will be no America always comes through. We will have a much lower living standard for many years to come. Gold and silver and necessities yes, not much of anything else should be bought.
2/16/2010 6:29:53 PM
It is correct government,(especially in an economy that is Capitalism) doesn't help generate income in terms of profits.Plus it"stifles" certain aspects of the individual.
2/17/2010 7:06:00 AM
This was a disappointing interview I expected much more from Steve Forbes.
2/17/2010 8:35:08 AM
I am not impressed with interview, I expected more. The US Congress should be replaced for starters.
Where are the intelligent, honest people in this country?
2/17/2010 12:26:46 PM
"America always comes back?" Sounds a lot like too big too fail. I don't buy it. America's economy has huge structural imbalances and deficits as far as the eye can see. China cutting back on buying Treasuries. We are going down because of lack of leadership in both the Congress and Exec branch. No mutual funds for me. Gold and silver only.
2/17/2010 3:09:59 PM
I agree with lakeerie and kathygm, this interview was a disappointment. However, the others I've seen are well worth while.
2/17/2010 3:39:16 PM
The President thinks he is right and all others are wrong. He now knows he will be a one term president without regard to doing what is right for the country not his.
2/17/2010 4:45:06 PM
I respect Steve Forbes opinion, but at this point I have to agree with some of the readers. The interview was disappointing to me.
2/17/2010 11:00:31 PM
Forbes did mention Gold in the sense that if we went back to the Gold Standard, interest rates would not have to be artificially controlled. Did not mention Gold fixed-income bonds as advised in "Aftershock" which is right on the mark in terms of Gold investments. Forbes implied that our rates our artificially low right now. It coincides with the "Aftershock" view that they will eventually have to go up, because like everything else, our country cannot control continue to control the economy through artificial means. Eventually, the bubble will burst.
2/18/2010 9:12:04 PM
No mutual funds for me and no other equities. I am buying gold, silver and platinum plus LEAPS on gold and silver. With Obama having an unlimited slush fund for his friends, the dollar is going down. Estimates are that the dollar will lose 50% more of it's value in the next two years! It is hard to make that kind of a loss up.
2/23/2010 3:42:45 PM