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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

Nov 26 4:00 PM EST

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To: Enigma who wrote (16762)	8/27/1998 10:06:00 PM
From: PaulM	Read Replies (6) of 116768

I think Armstrong's Lost It Entirely. Check out his latest: "Global Meltdown" pei-intl.com Click "Global Metdown" The last few articles he's written have contained some doozies. After reading few, I fell like breaking out in a chorus of "America the Beatiful" My favorites assertion in this one is: (1) commodities get crushed in depressions, (2) few Americans work in commodities related industries today and instead are doctors lawyers and such, (3) so we won't get much unemplyment in America this time around. Doesn't it seems obvious, that in a deflationary period a person has no more incentive to spend oon doctors and lawyers than on aluminum? What is more amazing is the inability to realize the importance of how different American balance sheets (consumer, state and fed govt) look compared with 1929. Not to mention the risk of racial tensions and social unrest far outstripping 1929. This depression will look much worse in America than 1929.

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