Yes gold will correct at some point but if you think that the economy is just going to pick itself up and return to the heady days of 2003 - 2007 anytime soon then I think you'll be waiting a long time. I can tell you now that my company has made me, in fact the whole company, take unpaid leave and they look like they are going to ask us to do it again next year. I consider myself fortunate. Unemployment will continue to rise. Yes the US may have hit the bottom but it's going to stay there for a while and I think that governments will screw things up again. Current market levels do not necessarily reflect the state of the economy.
The question is how many chairs are there out there when the govenrment spending music stops
Have a look at the chart I posted a while back on the EXM thread and watch the CNBC video.
I think we are less than half way through a 10 - 15 year cycle which needs to play out. It feels like I'm living in the 70's. Hmmmm sounds like a good title for a song.
Cheers BW
DIO Price at posting:
85.5¢ Sentiment: LT Buy Disclosure: Held
