I totally agree with you Eshmun.
Asset bubbles and over inflated property prices are unsustainable. I and a lot of my friends are expecting correction and I know many who are cashing in and paying down their debts rather than re-investing. They will wait for the next cycle down and then re-invest.
Such an attitude will slow the economy further. there are many projects with lots of apartments awaiting settlement within the next year or so. I wonder what will happen when the data is hinting to recession and those settlements do not materialise. What will happen when major companies default on their loans.
Few years ago, I came across an article that predicted price of gold to hit $3000 in 2016. I couldn't locate the article but recently that talk of $3000 started to resurface again.
Property prices are crazy and overinflated.
DOW is near an all time high.
When you get to the top of the mountain, there is only one way and that is down.
I do believe, gold has been consolidating for a while and the next move will take us to a much higher level, yes in the next two weeks and that will coincide with the expected bad data and the month of May.
Happy days are coming for sure,GOD will.
Cheers,
Sydney
BDR Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
