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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Zardoz who wrote (42479)	10/8/1999 12:21:00 PM
From: Rarebird	Read Replies (2) of 116764

My view of where we are headed: Hutch, as Money wages rise in the higher stages of production so does the demand for consumer goods. A counter force has now been set in motion whereby the lower stages of production start attracting factors and resources away from the higher stages. Eventually prices begin to rise, the current account deteriorates, interest rises, idle capacity and unemployment begin to emerge. Yet the government now has no choice but to apply the monetary breaks. Once this happens malinvestments in the form of increasing idle capacity and rising unemployment make their appearance as the recession goes into full swing. This is the genuine recovery phase. It is the phase that liquidates the unsound 'investments' and allows the capital structure to rid itself of distortions. So long as prices are allowed to adjust, full employment and output will be restored. The sharp and very deep American depression of 1920-21 provides an excellent example of this process at work. Bottom Line: The US ECONOMY is in big Trouble come the Year 2000

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