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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Frank Pembleton who wrote (93301)8/9/2001 9:14:35 AM
From: Art Bechhoefer  Read Replies (2) of 95453
 
I couldn't DISAGREE more with this Debt Babble article. It reveals a mercantilist attitude that was already outdated over 225 years ago when the gold bugs running the British economy under George III thought a tax on tea in the colonies was just the thing to keep the books in balance at home.

The way you get out of the current economic mess is not by investing in gold but by investing in the least developed countries, whose response is to buy needed products from the most developed countries--a far more efficient way of generating demand than to restrict it to the already satiated developed economies. Of course, the mercantilists can't stand even the suggestion of giving something away.

Art
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