^---- Well one thing happening is that gold creeps close to $1700. Maybe by the time you read this, we will have crossed over. While this MAY be good for me, it is NOT a good indicator that our country's trajectory is in the right direction...
Your congenial host can only presume that gold will go up, up and away until our country gets its act together re spending. Each of you is capable of checking current financial info as I am (and most of you will read this after markets have moved for hours) so I will not try to update you re specific markets.
The MSM (CNBS) is saying, yeah, we all saw this coming, blah, blah, blah. What they are NOT saying is what we have to do (for real anyway) to bring our country back: cut spending. We all know it. Maybe taxes do have to go up, but the real problem is SPENDING!
This whole thing feels so Lehman-esque, so September 2008, but with the kicker of bad sovereign debt (Europe, we can "just" inflate ours away...). I hope that I am wrong. I really hope that things work out OK for us, but they may not.
History shows that sometimes "SJGR", maybe we are there. I'll see you on the other side friends.
No it is definitely "BAD" for you that Gold rose to $1700. So early. You do not own nearly enough. This is bad for all dollar holders. QE3 is coming. The deficit is the tell. Little else matters with the current set-up. Gold will be "OVER 2K FOR AN EXTENDED PERIOD."
ReplyDeleteMany of us have seen this coming for a long time. And yet it doesn't diminish the horror of watching it play out..
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