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Gold/Mining/Energy : Barrick Gold (ABX)

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To: ahhaha who wrote (847)	11/25/1998 8:03:00 PM
From: Tommaso	Read Replies (1) of 3558

It's better to try to see exactly what is happening than to use analogies (and this is what you do--the first alternative--try to see exactly what is ahppening). But to some extent the entire world is now involved in a 1929-like situation (I just repressed the urge to write "scenario"). There is deflation in commodities and deflation in agriculture (Deere is already hurting in the US because farmers can't buy new equipment). Eventually this results in a decline in demand for industrial products, at which point people get thrown out of work and demand declines even further. People in New York City were immune from the misery plaguing farmers about 1926-27. But then their turn came, and many were worse off; you can't eat old ticker-tape. Monetary stimulus is a prerequisite and the Fed is trying to provide this for the whole world, in advance of trouble in the US. But fiscal stimulus is what's needed, especially for depressed sectors. Here's a truly great opportunity for a 20-year-old with a bent for economics, finance, and accounting, to emerge like John Maynard Keynes as the savior of the upcoming catastrophe.

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