my assumption is actually in line with your premise, that we are in a mess, the mess shall get more severe, because the mess is already baked in the cake, and the cake shall be made toxic by policy mistakes from all quarters, as well as 3 dimension, bubble up from the ground and thunder cap from the sky.
however, given all of the above as assumption and premise, making up the scenario, political backlash not withstanding, especially as the backlashing is also baked in the cake and accounted for in assumption / premise
the bailing, in all nations, qe2 through qe n, shall be progressively more sincere
in such a case, while there are practical limits to how much food and socks would cost, and ceiling to what real estate could be valued (loan contraints) and bonds counted (nominal yield guideline), there is no pragmatic constraint on how high gold can go, because, precisely, gold is assuredly useless and that is its charm.
a best guess for what the future holds, fat or thin tail, but a tail. |
