posted on Nov, 30 2009 @ 12:55 PM
reply to post by GreenBicMan
That's true, we do produce a lot of software. But that doesn't employ as many people as, let's say, an automobile factory would. Or a sneaker
As for the dollar going up when the market tanked in October, 2008 - aside from a few spikes it's been going down consistently since then. Jim
Rogers, Warren Buffet - these men believe gold is going to go up, up, up. These are not doom and gloomers (if you want, I'll add Marc Faber, Max
Keiser and Peter Schiff to the list). Gold will NOT continue to rise if the dollar rises. But, it won't. At best it will start going up in a couple
of years. Yes, in that case the rich and very well prepared middle class will make out well. Even in that case, at least 80% of the US will, at best,
remain status quo. Most of them will be hit hard.
I understand that jobs are a lagging indicator of growth in the economy. However, 70% of our economy's GDP is based on our own citizens buying crap.
If they don't spend our GDP won't grow. They said our GDP for last quarter had a 3.5% rise then a few weeks later, "oops, sorry, made a mistake."
It was more like 2.7-2.9%.
Listen, I love your optimism. It's contagious. You may be right on the foreclosure thing (I'm skeptical). But, I don't know if I agree with the
other points you've made. Doesn't mean I'm right. Just don't see it.