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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: austrieconomist who wrote (17053)	8/18/2003 1:37:23 PM
From: Canuck Dave	Read Replies (2) \| Respond to of 39344

The most plausible scenario I have seen for the markets goes something like this. The bull is over and we have now entered a series of essentially trendless bull and bear periods which will in time work off the market excesses. The lows will be masked by increasing inflation again, a la the 1970's. The S&P may get as high as 1100, or as low as 600 in this correction period, but it will take 14 (!) more years before P/E's come down to where a real bull can start. At that point, 14 years of inflation of the currency will give a starting point of the S&P for the next leg up of about 800. That seems like a very realistic road map. So, where will you be in 2017? CD

To: austrieconomist who wrote (17053)	8/18/2003 1:38:49 PM
From: Tommaso	Respond to of 39344

Very temperate, well-informed, and reasoned response. Maybe the way the U.S. monetary authorities are behaving is better than the widespread attitude in the U. S. government in 1930: "Liquidate, Liquidate! Liquidate!" But I am not sure that "Liquify! Liquify! Liquify!" is the best idea either. It certainly keeps false hopes alive for the recovery of lost [never-was-anyway] wealth.