Recession: Friend or Foe?
I found an interesting article from a guy who loves gold. Since it smells to me like buying gold now would be buying before lots of panic-buyers hit the market, I'm interested.
The article, written today, basically warns that a recession is the market correcting itself so we don't fall into a depression. Ultimately he believes that the dollar has been inflated to the point of worthlessness and that its best that the market finds out slowly.
The idea is that unemployment is a symptom, not cause, of a recession, and that the government responding by stimulating employment is like taking a cold shower when you get a fever. He says the best thing to do is let the dollar correct itself to where its comfortable before everything crumbles apart.
P.S. gold futures hit a record $900 today
(not really a record adjusting for inflation. more like 1/2 the record)
The article, written today, basically warns that a recession is the market correcting itself so we don't fall into a depression. Ultimately he believes that the dollar has been inflated to the point of worthlessness and that its best that the market finds out slowly.
The idea is that unemployment is a symptom, not cause, of a recession, and that the government responding by stimulating employment is like taking a cold shower when you get a fever. He says the best thing to do is let the dollar correct itself to where its comfortable before everything crumbles apart.
P.S. gold futures hit a record $900 today
(not really a record adjusting for inflation. more like 1/2 the record)
In a speech to a business group in Washington, Fed
Chairman Ben Bernanke said: "In light of recent changes in the outlook
for and the risks to growth, additional policy easing may be
necessary." Read text of Bernanke's remarks.
Further cuts could lower the value of the dollar and increase the
attraction of dollar-denominated gold as an investment alternative.
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