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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Eakole who wrote (985)	12/4/1997 10:21:00 PM
From: David R. Schaller	Read Replies (1) \| Respond to of 1911

Eakole, Jim Grant of Grants Interest Rate Observer said that whats going on is a little like Economic Old Maid. No country wants to end up with the Old Maid (strong currency). For some reason Washington has offered to keep the old lady; thereby, simplfying the game for other countries. I'm sure that the oil producing countries would have it no other way, but many of our companies are going to find foreign competition impossible to deal with. Regards, Dave

To: Eakole who wrote (985)	12/5/1997 1:43:00 AM
From: britt david jackson	Read Replies (1) \| Respond to 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