We are not hoping for total doom and gloom - just stating the facts.
The fact that gold has risen from $650 from start of financial crisis to me indicates that the writedowns thus far have had an impact on price.
Everyone in US are expecting writedowns to be a thing of the past and are going to get a huge shock when they realise they have only just started.
Not sure what planet you have been living on but all latest CPI and PPI etc etc reports around the world are indicating highest inflation figures for over a decade.
Even last night Bernanke reported for the first time that inflation is too high and a cause of concern.
Inflation in south east asia is running around close to 20%. ( caused also because of peg to USD )
And never before have you had a middle class of Chinese and Indians fighting for the small quantites of commodities.
The USA was the No1 economy however in years to come that will have changed......
And I am certainly not hoping for a war in Iran !
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