I’ve been getting a bunch of emails in the last few days chiding me for not mentioning the many things that are actually improving in the U.S. economy right now. For example:
- Credit spreads are much-improved
- Bond activity is up, with quality issues, both muni and corporate, becoming relatively common
- Valuations are close to and even below historical norms in the U.S., and even better elsewhere
- Oil at these levels is among the easiest lay-up trades of all time
- Disgust with equity markets is high and growing
Those are a random sample of the things that people send me. Feel free to add your own and then I’ll just point here when people email me that I’m ignoring all the “good” news out there.
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You're ignoring my main point which is that mission critical uses, super computers, space flight, scientific instrumentation, aircraft, submarines, missles, weaponry and other military demand huge amounts of gold.
What you criticized was just an aside, not my point. You're either being careless or dishonest in your replies.
Also, as Anon pointed out below many of the core attributes of money still apply better to gold than fiat money.