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Gold/Mining/Energy : Gold Price Monitor
GDXJ 107.29-0.9%Dec 2 4:00 PM EST
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To: lorne who wrote (72160)6/21/2001 9:51:00 PM
From: PAUL ROBERTSON  Read Replies (2) of 116791
 
without a doubt Lorne, the good old US of A is starting to look more and more like Japan every day. With the tech economy in the tank the great wonder is dying fast. Rallies like we are going to get over the next few weeks{hope rallies} will die fast as they are based on nothing but potential future easing. They had better start talking the dollar down and start worrying more about deflation. If i hear Alan say another word about inflation, i think i"ll puke. He is so worried about the bond market when he should at all costs be targeting gold higher at the expense of the buck. Sounds crazy but outright deflation will destroy the debt laden US economy. His priority should be nothing but to keep the yield curve steep until real inflation sets in at 3-5% over multiple quarters.
Reminds me of Japan who had a yen go from 300+ to 100- while they allowed the economy to shrink throughout the 90's. All they needed and still need is a lower yen. Imagine rates at zero in the States. Who is going to borrow except to service debt? Certainly with the buck where it is very few startups will succeed if they even want to startup in the States. It seems more and more startups are just listing on the Nasdaq for funds and exposure while being headquartered elsewhere. This obviously does not do much for the average American citizen.
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