In the late 70’s I learned that gold could be a useful part of my college fund even though I was just into collecting coins. I missed the boat in the 90’s almost completely, so no lessons learned either way. Now I recognize the symptoms of a credit bubble, the only way to keep it going is lower rates and ultimate destruction of the dollar. I don’t say that lightly or the least bit gleefully. I also believe the American economy will retain significant strength throughout the ordeal.
As do I....
The nut in the woodpile could be Obamma, but it looks like his chances are being lowered somewhat and that will be factored in by the market as soon as it is evident.
I never discount politics as a prime mover in a election year. The market is seriously spooked but unknowns, but few will admit that it could be fear of having a die-hard anti business Marxist at the helm of the ship.
I think the turning point will coincide with a Hillary resurgence, if it occurs. Or, a big swing upward in McCain's numbers against the Dem nominee.