Posted by Mike (WA) on January 01, 2014 at 08:53:58 from (69.10.199.136):
In Reply to: Investments posted by MarkB_MI on January 01, 2014 at 04:26:14:
I'm 65, so can't afford to take much risk. I got out of the stock market at 12,500, before the 2008 crash, and never went back in. Stock market is way overpriced by all conventional investment indicators, and its the casino mentality that's driving it now. At some point, reality will set in with a vengeance.
Gold has taken kind of a beating because it, like silver, is an Armageddon play, not an "investment" as such. If times are good, metals prices will drift sideways; but if the roof falls in, metals will be a hedge and retain real, not paper, value.
Gumment is in a real trap- they need to keep the QE spending to keep the national debt afloat, can't let interest rates go up or the already weak economy will tank, and there is an ever-expanding need for money to fund gumment programs for those who can't find jobs. Add to that the realization by many that its more lucrative to suckle off the public teat than to get a low-paying job, and its a recipe for disaster. Yes, Virginia, there is a Santa Claus, but he can only carry so many presents.
I think silver is a better deal right now, because price is at roughly the cost of production, and unlike gold, there is a constant demand for silver for industrial uses. I think cost of production is pretty much a floor for the price, so there's a big upside, and not much downside.
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