Gold is climbing back... who knows maybe today will be the turn. Personally, I think the greatest mistake that bernanke and Paulson made was masacaring commodities.

I think the idea that Volker put forth about his mistake being not taking down gold is a huge misconcept. No matter what anyone says, I prefer inflation to deflation.

In a deflationary environment everything that has been produced and all materials that have been ordered up to now are valued higher than you can sell them for.

I would love to know the sales figures for cars today. I can't imagine a single car being sold in michigan today. I would suspect that there are not more than 500 cars sold all across the USA today. I have no idea of course but I'd really love to know the numbers. I think they'd be shocking.

Massive inflation would not have happened as suddenly as many predict. They economy would still have been under attack. Out of the scenerios, inflation, stagflation or deflation, deflation is by far the worst.

Say goodbye to Ford, GM and Chrysler as we know them. Ford will be a division of Mazda. GM and Chrysler will become GM but will sell off most of their assets and produce only a few lines. Eventually they'll be a division of Volvo or VW or my bet, TATA Motors. Say goodbye to the VOLT.

What a mess..