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Gold/Mining/Energy : At a bottom now for gold?
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To: Eakole who wrote (985)12/5/1997 1:43:00 AM
From: britt david jackson  Read Replies (1) of 1911
 
Hello Eakole;
I think we all have to be very careful in running parallels
to past economies and past histories for that matter. One very interesting
point comes to mind after reading your post, and that is if you go
back 500 years in history you will find regular recessions, depressions,
and severe economic downturns of various degrees. Surprisingly they
occur unusually at regular intervals. Often, and may I say very often
these contractions occur at 60-70 year intervals.
In a society that increasingly shuns our seniors away in homes
that usually restricts contact from them to the younger generations, I
believe we are losing a vast network of knowledge. Knowledge that not
only involves economic experience, but loving family experience as well.
Having said this it is no coincidence that we become foolish beyond
reasonable belief in our savings, investing and credit practices because
we no longer heed the wise voices of those who suffered through incredible
hardship in the last major downfall of our society's economic judgement.
And of course that was about 70 years or approximately 2 or 3
generations back depending on how busy the rabbit was. My Grandad
still spends $1.00 in gas to save $.20 on bacon after driving across
his small city. Now of course that sounds foolish but those habits
were induced during the great depression (when gas was 8 cents a gallon),
and my point is simple,... WAKE UP! Were paying ridiculous prices for
stocks that simply will never ever justify these ratios, and old
Grandad sits on a small mountain of secure wealth (not stocks) because
he has learned a thing or two that he taught his siblings, and we taught
him to take the seniors bus when trying to save $.20 on bacon because
gas has gone up Gramp! The breakdown of communication between 1st and
3rd or 4th generations has brought the ultruism to the forefront that
"those who fail to learn from history are damned and deemed to repeat
it."
BORIS
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