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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Lucky Lady who wrote (14998)	7/29/1998 8:47:00 AM
From: Oak Tree	Read Replies (1) of 116759

Lucky Lady, I don't really see deflation. You note that DC area prices are down for years now. DC is also a war zone. The better areas of DC are so expensive that humans can't hope to buy there - and they are small and probably have roaches. In Bethesda townhouses start at 400. 50 houses recently went up in Bethesda off Conn. Ave starting at the low 600's, and having 1/4 acre lots. The washington area is recession proof in many ways. I wouldn't use DC prices as a standard example of america. The rest of the US has seen some increases, though modest, but at a few % per year. Washington has seen better than that in some areas and worse in others. Cheaper foreign goods can lead to layoffs, but they haven't lead to increased unemployment. For example, in Rochester NY Kodak lay offs were almost 20% - to be competitive with fuji. That was 2% of the population. Rochester unemployment went from about 3% to about 3.2%. Skilled workers were hired immediately, white collar lay offs started new companies. Inflation is low now because of lots of things. In particular as you suggested, cheap energy. If oil prices go up than the economy will be in trouble and we will see inflation. Paul

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