Therefore, why is it that Gold and Silver as well a most precious metals and Diamonds, which are usually the safe havens in these recessionary times, are also slipping in price.
Usually they will, as history has shown, increase by up to 20 times the price.
Now they are all going down the slope together.............what gives??.
We are into a new type of world economy
US still leads but is no longer the force it once was, so not all follow US lead anymore
Greed will always prevail, so gold should be good for short run, there will be another disaster in the future that will cause a spike and that may be the time to unload
This is why the stock markets fluctuate 10% in a day and nobody blinks an eye anymore
Real estate does not follow 7 year cycles, interest rates are at historic lows, inflation is low, oil is low, wages are still too high
The future is indeed uncertain, the US will no t go bankrupt and we will be out of this mess by mid 2010, the problem is that we have not hit bottom yet and there is much more pain to come
We've had these cycles before, we must hit despair before we can have hope , see this graph:
Obama will brighten things a little and give us hope
As for precious metals I think that zirconia looks just as nice!
Enjoy the snow!