Wednesday, January 19, 2011
Is Gold In a Bubble?
Every time the price of gold goes down a few dollars all the empty talking heads start saying the gold "bubble" is about to burst. Let's get a quick reality check, please!
The fundamentals have not changed. They remain the same. If anything, getting worse with each passing day.
The amount of debt is worse and still growing - at ALL levels.
Inflation and value deflation continues to worsen.
Currency devaluation is ongoing and slowly worsening.
Underemployment remains unacceptably high.
Residential foreclosures have not even peaked yet!
Commercial real estate failures have yet to peak.
Financial malfeasance and accounting fraud abound.
The amount of political and moral ineptitude is astounding.
Monetary and fiscal policy will not change in the short term.
Gold in a bubble? I don't think so!
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