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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 378.38

+2.7%

Nov 10 4:00 PM EST

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To: TobagoJack who wrote (67974)	11/10/2010 11:46:10 PM
From: Maurice Winn	1 Recommendation Read Replies (2) of 217666

That was like reading about NZ and NZ$ in the 1970s and early 1980s when the government and unions and hubris took the place downhill quickly, with devaluations coming in 10% or 15% tranches with NZ$ falling from US$1.20 to a low of US40c. Interest rates eventually went to 15% and 20% for mortgages. Imagine that in the USA now. The NZ standard of living went from number 3 or thereabouts to way down the OECD and hanging on by skin of teeth while welfare rolls burgeon and social horrors and crime fill the newspapers and streets. It's true that one could wander the streets here and think things are hunky dory, but we are going down the gurgler at $1 billion per month which is real money for 4 million people who are not very well off. While it's still a pretty good place to live, it's nowhere near as crime free as it was. Mqurice

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