Uber doomed

[sasguru]

I came to the conclusion this weekend that we are uber doomed. It's just that people haven't yet understood what desperate straits we're in.
If you go down the pub and coffee shop people are behaving much the same (even if they are spending less). This is not because they they know anything but because "hope springs eternal in the human breast". It's like fiddling while Rome burns.
All the money being pumped in, in various ways around the world is a last ditch attempt to avert catastrophe and it's not going to work.

If you think gold is expensive now, watch it take off this and next year. Even if it falls it will be as nothing compared to the fall in value of the fiat currencies.

[Drewster]

If you think gold is expensive now, watch it take off this and next year. Even if it falls it will be as nothing compared to the fall in value of the fiat currencies.

Thats what I call a prediction.... It will either rise... or... fall...

Thanks SAS!

[Pickle2]

Even if it falls it will be as nothing compared to the fall in value of the fiat currencies.

Sas, lay off the crack pipe mate. If gold falls at the same time as the fiat currency it is priced in also falls, then by definition gold has fallen more than said fiat currency.

You are predicting inflation when we are going to experience the exact oposite, value of hard cash (fiat or gold) is increasing as prices of everything else falls.

[sasguru]

Oh Ok then - it will rise .

[Solidec]

Less concerned about Gold and more interested in picking the overshoot out of the bottom of the bear market in the FTSE!

Talk of 3000 by the end of 2009, and below that will be an overshoot, start finding ways of gathering reliable PE info and watch for company end of year accounts.

Next boom is ripe for the picking imo, esp now we are printing money AND debasing the currency...

[Pickle2]

Next boom is ripe for the picking imo, esp now we are printing money AND debasing the currency...

Yes, sounds boom like conditions to me.....

Dont agree we are successfully debasing the currency, I think all countries are in a rush to the bottom on that one.

[Drewster]

Oh Ok then - it will rise .

Thanks - I will go with that then........ Boomed!!!

[Bagpuss]

Expectations, as soon as they turn so will the economy. This is a great time to be a cash rich contractor.

[BrilloPad]

Expectations, as soon as they turn so will the economy. This is a great time to be a cash rich contractor.

Is this a great time? Surely at better time will be 18 months from now?

I reckon SG is partially right : at the moment people are treating it like a minor recession but in fact it will be a severe recession. I dont think we will hit depression though. i.e. I predict GDP will fall less than 10% peak to trough.

[Pickle2]

I predict GDP will fall less than 10% peak to trough.

I bet you three tickets from my 2011 ration book it will be more.