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Gold/Mining/Energy : Gold Price Monitor

GDXJ 118.97

-0.9%

Dec 24 4:00 PM EST

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To: Bobby Yellin who wrote (2683)	11/2/1997 1:34:00 PM
From: PaulM	Read Replies (2) of 116823

Bob - I agree that the outlook is deflationary, but it seems to me that the govt and Fed Rserve can easily make inflation if it decides to do so. Which it will likely do in a depressed economy. (Inflation is easy to do. Growth and employment is a different story). So much of predicting what the economy will do is predicting what the govt will do. Which is inherently unrpedictable, motivated as its is by political and other special concerns. However, the low paying jobs and growing divisions between haves and have nots that you speak of is less a result of this administration and more technologiocal and other trends. Knowledge based methods are replacing old ways of doing things because they are superior. Because it would now be impossible to compete without them. This inevetably means lots of dislocation and disproportionate spoils to those who control or even work in knowledge based areas. IMO, these represent positive long term trends. But not before the huge, painful unraveling and reallocation of the ecomony which we are now faced with. One reason I expect a gold rally, particularly in 6-12 months or so. In the meanwhile, may be worth waiting for an absolute bottom. Paul

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