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Cliffs Natural Resources Inc. Message Board

  • finland6507@sbcglobal.net finland6507 May 20, 2010 7:04 PM Flag

    NO one is sharp enough to answer my

     

    question about the u.s. printing worthless money ? How will they tax people when the media posts 1 in 8 gets foodstamp cards ?

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    • Friend,

      You answered your own question, money is worthlss paper. Taxes are not imposed on society so a Governing body can use it to pay down debt but rather use it to justify printing more. If 8 of 8 people were collecting food stamps then we would have a problem.

      Anyway, CLF is going to $40 which is the major support level. If you really love this stock and think it will rocket soon go ahead and buy 25% of what you want at that level. If it goes below $40 I guarantee it will go to low $30's high $20's before building the base and rally all over again.

      Keep your eye on what is going on in China more so than Europe.

 
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