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Yavin4

(37,182 posts)

47. You do realize that the entire global economy is a complete sham

Fri Nov 7, 2014, 11:03 AM

Nov 2014

It can crash and has crashed repeatedly in my lifetime. The U.S. economy is entirely dependent on cheap money. Either the money will get more expensive and we crash or the money will remain cheap and we have higher inflation. Or, as is the case now, we suppress labor wages in order to avoid inflation, but that situation is untenable. The average American cannot afford a basic lifestlye on the wages that they're currently getting, so they borrow money to make up the difference.

Can this system go on for a while? Sure. There's still room to raise wages without incurring inflation, but how much longer?

It's not a question of betting against the home team. it's preparation for a system that is bound for disaster.

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Gleam is gone as gold prices sink to 4-year low [View all] Omaha Steve Nov 2014 OP

Whew.. don't you know there are a lot of people Peacetrain Nov 2014 #1

Umhm. I immediately wondered how much this may have contributed to the election drubbing. Hortensis Nov 2014 #7

Gold dropped $22 to settle at $1,145.70 an ounce on Wednesday. candelista Nov 2014 #2

gold to drop all the way to $900 an ounce by 2017 Submariner Nov 2014 #29

No one knows where it will be tomorrow, much less in 3 years. candelista Nov 2014 #34

I don't think it'll be that high in 2017 jmowreader Nov 2014 #39

And Glen Beckkk laughs all the way to the bank n2doc Nov 2014 #3

I gotta hope he has lost his ass on this. rurallib Nov 2014 #16

I doubt he has any gold other than watches and jewelry n2doc Nov 2014 #17

He will, once a crazy fan who lost a lot of money goes after him. Crowman1979 Nov 2014 #23

let us hope. That will be fun to watch. rurallib Nov 2014 #33

Thanks GOP! Politicalboi Nov 2014 #4

For people planning on investing in gold, ask yourself this question Kelvin Mace Nov 2014 #5

Time to buy soon. ffr Nov 2014 #6

Boy, you said it with that last. "Getting off the back of business" meant tearing down Hortensis Nov 2014 #9

Boehner speaks. Gold rebounds sharply this AM. ffr Nov 2014 #48

This message was self-deleted by its author ffr Nov 2014 #49

I picture Glenn Beck and Alex Jones having a pitty party over a bottle of scotch. Spitfire of ATJ Nov 2014 #8

I picture commercials inviting their audiences to sell their gold NOW! Hortensis Nov 2014 #10

Why would they? Dopers_Greed Nov 2014 #18

Conservatives often buy their own propaganda.... Spitfire of ATJ Nov 2014 #20

I picture their hardcore fanboys advancing on them with torches & pitchforks! bullwinkle428 Nov 2014 #50

If there were any justice along those lines the Texas rednecks would have done that to Crawford. Spitfire of ATJ Nov 2014 #51

Gold isn't an "investment", it's a "hedge" Z_California Nov 2014 #11

Even liberals such as myself should hedge about 10% of wealth in gold. NCjack Nov 2014 #21

It actually doesn't work that way for any asset. cosmicone Nov 2014 #24

Gold coins will never lose all their value Art_from_Ark Nov 2014 #36

I didn't say gold coins. Just ordinary coins. n/t cosmicone Nov 2014 #37

But in your first paragraph you talked about gold bottoming out Art_from_Ark Nov 2014 #38

If you must buy precious metals, buy junk silver WHEN CRABS ROAR Nov 2014 #25

10%? That's way way way way way too much. Zynx Nov 2014 #54

I take comfort in knowing many teabaggers lost a bundle Dawson Leery Nov 2014 #12

My husband has been a gold bug for the almost 30 years I've been married to him. mnhtnbb Nov 2014 #13

The very reason I ignored all the people touting IT Trading and other gold sites Elmer S. E. Dump Nov 2014 #14

Here is a counter Position on this issue: happyslug Nov 2014 #15

First of all, those prices are for PAPER, NOT GOLD Demeter Nov 2014 #19

smart post n/t Psephos Nov 2014 #40

You can buy Sgent Nov 2014 #59

Gold will be trading between $500-$800 in one year n/t cosmicone Nov 2014 #22

it will go back up... mitchtv Nov 2014 #26

Bingo. We're one more election cycle from that happening. Yavin4 Nov 2014 #31

it is probably a good time to start buying gold. olddad56 Nov 2014 #53

Definitely not smart to have everything in one place, elleng Nov 2014 #27

I got out long ago at $1900 or so. JNelson6563 Nov 2014 #28

This recovery is based on cheap money from the Fed. Yavin4 Nov 2014 #30

The Fed cannot raise interest rates. roamer65 Nov 2014 #35

sad to say, you are exactly right n/t Psephos Nov 2014 #41

BTW, I own physical metals, not paper Yavin4 Nov 2014 #42

Good on 'ya. N/t roamer65 Nov 2014 #45

So what is the Gold-Bug excuse gonna be, now? Odin2005 Nov 2014 #32

Gold's natural level is about 350$ a troy ounce. nilesobek Nov 2014 #43

$25 a barrel was true prior to 2002, but NOT today happyslug Nov 2014 #56

Yeah, what does Alan know? DeSwiss Nov 2014 #44

Investing in gold is poor practice Shoonra Nov 2014 #46

You do realize that the entire global economy is a complete sham Yavin4 Nov 2014 #47

Thousands of hate radio addicted baggers workinclasszero Nov 2014 #52

Gold is the anxiety disorder investment. There are not reliable economic factors behind it. Zynx Nov 2014 #55

It was only a matter of time for the bubble to burst sakabatou Nov 2014 #57

Awww! Old Nick Nov 2014 #58