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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe last bubble
Write down summer 2011 as when the last Keynes-denial investors threw in the towel. (And when the last remaining bubble rolled over.) Coming out of the collapse of late-2008 gold started up. First is was just security, since everything else was so suspect. But then it kept going driven by RW theories of how the economy works that dictated that the tag team of Bernanke and the Kenyan Marxist was sure to bring on hyper-inflation. (There is a reason that gold sellers were Glen Beck's top advertisers.)
It was a little under a year ago that gold investors finally figured out that you cannot have hyper-inflation in a fricking depression unless the government prints up trillions of dollars in cash money and hands it to people to spend.
Which it has not.
And it was a little under a year ago that gold investors finally figured out that interest rates in the US, UK and Japan will remain super low until such time as there is no chance of global deflation.
Which there most assuredly still is.
And it was a little under a year ago that a critical mass of gold investors finally figured out that they had been listening to CRACKPOTS... to tin-foil hatted dim-wits who had important sounding titles because their pet lunacy served a political ideology, not because it was correct.
So now all these assholes just mouth the same old BS about how increasing the money supply is the definition of inflation, and government borrowing crowds out private borrowing even when there is no private demand for borrowing and all that gibberish.
Oh, they still say it.
They just got tired of putting their money where their mouth is.
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The last bubble (Original Post)
cthulu2016
Jun 2012
OP
sadbear
(4,340 posts)1. Poetic justice?
cthulu2016
(10,960 posts)2. Certainly some kind of justice.
Gold bugs really get on my nerves.
"After the big collapse you'll wish you had some gold!"
Why? Is it nutritious?
orwell
(7,774 posts)3. Wait till you see the new Gold ATM's...
...they spit out bars and coins I tell ya...
Ummmm...nevermind.