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Art Cashin – Gold, Oil & A Warning From Jeremy Grantham

from KingWorldNews:

On this day (-2) in 1825, the United States selected a President. No, not in an election but in the House of Representatives. Thus ended one of America’s closest and most inconclusive elections.

The original list of candidates was unique. The favorite in the polls was a well-known guy from Tennessee. Breathing down his neck was a guy who was the son of a former president. That brought charges of dynasty. Additionally, there were splinter party candidates who might tip the results.

In the fall election no candidate had received a majority of the total of either popular or electoral votes. Andrew Jackson got 99 electoral votes. John Quincy Adams got 84. Henry Clay got 37, while, a fourth candidate, Wm. H. Crawford got 41.

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1 comment to Art Cashin – Gold, Oil & A Warning From Jeremy Grantham

  • Ed_B

    “False optimism leads to very poor investment decisions. It will also encourage yet more dangerous policies at the Fed. We can imagine, for example, in 30 years some “son of Yellen” as it were, introducing QE 27 in a vain attempt to squeeze blood out of stones. But long before then, I fear an overstimulated system will have bitten us a few more times on the leg.”

    Indeed. In fact, VERY high on the leg. The portion that we sit on.

    Grantham is one of the brightest guys in investing. When he chooses to speak, the rest of us should choose to listen.

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