Posted on 11/19/2009 2:19:00 PM PST by FromLori
The gems don't stop coming from SocGen, which has been advising clients how to play the end of the world, while predicting fresh lows in the market in 2010.
And (duh) they love gold.
Rolfe Winkler: Is gold going to $6,300? Dylan Grice, an analyst with Societe Generale, says it’s possible, given the decline in central bank credibility. But investors need to keep one thing in mind: Gold is merely a vehicle to protect the purchasing power of money.
Gold is surging because investors see that the Federal Reserve — more concerned with deflation and unemployment than sound money — may be trapped in a never-ending cycle of monetary accommodation.
Why a never-ending cycle? Because of this: massive debt.
(Excerpt) Read more at businessinsider.com ...
Amongst us small businesses, we wait and wonder. The computer fellow down to 2 employees moves into his basement, call the average insurance Agent and you’ll get the Agent - assistant gone. The private economy is slowly winding down. Every little strip mall has 2 or 3 vacant stores, the big malls hide their empty stores but the stretches one walks between stores grows. The leftists are finally making business pay, and it is paying big time. Those who voted for this aberration will have a terrible moral burden to carry.
What is new? Our government went insolvent under Reagan. It is just more insolvent and more impossible to hide the fact. The Reagan deficits started us down this road and Baby Bush gave us a MASSIVE shove. Now a radical communist muslim is flinging us off the cliff.
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