Taz, What people do with their money is their business, they make it, they lose it, whatever, but you see some of the absolutely preposterous assertions on this forum it's beyond belief. Some of the future POG targets I've seen make me wonder whether some are slightly deranged. $1,000,000oz e.g. a while back.
I'm not some benefactor helping out, just making observations, whether we reinvent the wheel like 1980 is neither here nor there to me. In 2008 oil do-gooders predicted $200/$300 oil, I said it would crash, and it did. Nothing goes up forever.
By the way, The Economist saw the housing bubble years before everyone else. So did I. It wasn't hard. e.g I was watching a TV programme where the vendor was on TV while a house was being sold. As the price got to around $1.3m his wife screamed out "there's another new car". I said to my wife that the whole deal was going to end badly,even though all the clues were already there. The property market crash is a little tedious though, a bit like a train wreck in slow motion.
I bought a section not close to my house during the bad times and sold it during the good times, all I did was cut the grass. I sold it at such a colossal profit I could hardly believe it myself when the money turned up. It was once-in-a-lifetime killing.
You say I don't involve myself in critical analysis. I don't, just look at the big picture. When silver collapsed the other day, did critical analysis predict that? No, it was a selloff because it was overpriced. The same as caused the GFC, too much debt, too much stupidity. Lehmans leveraged their assets 35 times, and they're the supposed 'experts' who do the critical analysis.
Yeah, there's debt, GFC, recession, but nothing to suggest to me that gold's going to the moon.
