More Great Economic News

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shichimenshyo said:
While the dollar hits record lows! Thats because noone has faith in the U.s. dollar anymore, not reall great news at all. :D
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Sandy does not understand that a high nominal dollar value for gold (or anything) is not good if it is because the vlaue of the nomimal dollar is dropping. She never comments on the purchasing power of gold over a long period. It goes up and down like very thing else short term but only down long term. I think it is going up now and probably will until some central bank begins to sell some of the tons already above ground. The growing real wealth in China and India plus there cultural love of gold will probably keep gold's purchaing power going up for a few years. China has passed South Aftrica a world's largest producer and they have a great deal of gold in vast belt across the North of China - some day gold will be much lower in purchasing power as that gold comes to the surface. China's mining technology is rapidly advancing.
 
Gold may drop down in the short term, but long term does not look good, because Gold is used for jewelry in India a nd China more so than American buy Jewelry. Americans mostly buy 14KT which is 58% Gold.
 
Economy and Future...

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http://www.businessweek.com/magazine/content/08_05/b4069000016691.htm?link_position=link2
 
Hey :mad:

This is a thread about Great Economic News. If you want to discuss less than great economic news, please create your own thread and stop ruining/trolling mine. :(
 
But... placed in context it's not really great economic news anymore is it? If I tell you I made 100 bucks today, but I happen to be 5 million in debt, is that still great news?
 
Depends. If you bought gold when it was at 500 and saw today's all-time high, you'd be pretty darn happy, no?
 
Not if I was an American. Like Billy T said, it's an indication of the value of the dollar falling.
 
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