Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (24063)	10/9/2002 11:35:51 PM
From: Maurice Winn	Read Replies (2) of 74559

GE's ankles being inspected for fur as hemline lifts slightly in the breeze <...On Wall Street, prices tumbled Wednesday as bearish brokerage reports for companies such as General Electric and General Motors prompted investors to dump stocks yet again. The Dow Jones industrials hit a five-year low... > siliconinvestor.com In my upside down, downunder world, that graph looks very much like a hemline lifting. The trend does NOT look like a friend. Jay, I have become suddenly enamored of the idea that gold is a luxury purchase more than a monetary haven. Hence the perplexing resistance by gold to what is serious financial disturbance. I know and agree with the idea that as money in the form of pixels is copy/pasted by the billion, gold and other permanently valuable assets will rise in price against said inflated currency. But when the Once Were Wealthy find their Sudden Wealth Syndrome a distant memory, their gold purchases for their luxury yachts and houses will be deferred for a while. Is there a measurement of gold sales for luxury purposes chart somewhere? I know sales for hiding crustaceans are up. But I suspect that there are more people feeling poor than there are crustaceans with disposable cash to put into gold. Either way, I am also feeling like a crustacean, holding on in the crack in my rock as the waves break over the world. You will have noticed that it is not beneath my dignity to run for cover when storms threaten. Okay, I wasn't hiding quickly enough to avoid a missing limb or two which will need time to grow back. Mqurice

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