gold, page-62617

Smart guy that Michael Pascoe, This is what he wrote recently.

Another day, another batch of disappointing news for the economic outlook Josh Frydenberg is preparing to deliver next month, more reasons the government’s contractionary fiscal policy looks dangerous. Somewhere in the bowels of Treasury, economists are downgrading the forecasts already downgraded by the Reserve Bank, IMF and OECD and wondering how to tell their boss. From the Australian Bureau of Statistics came the September quarter private capital expenditure figures.

AND

The RBA hoards its last two air rifle pellets for the summer of discontentAND

While there’s a national competition to be the most outraged over the Westpac foreign transactions scandal and corporate heads roll and a billion-dollar fine is speculated upon, the reality is that our banks are wasting millions of dollars trying to meet their anti-money laundering responsibilities. Westpac’s costly failure means many millions more will be wasted – and still only a small fraction of criminal transactions will be noticed.

I would have thought these are all pretty negative or maybe realistic and perhaps even positive for that dirty yellow metal that pays no dividend and has no p/e