Don’t know about gold, but I agree that oil long term will be high. However, I would caution against simply buying oil stock. The reason is that big Oil is in trouble. Their bookable reserves (reserves that they control) are not being replenished. The reason is more and more new fields are being controlled by states (like Russia, Velenzuela, Saudi Arabia, Iran, former Soviet states in the ‘Stan area). Read up the blog by Josh Levin at oilandglory.com. If current trends holds (who knows, the low prices could break the Sovereign oil companies) Oil multinationals will either adapt to oil service companies or die.
By the way, there are some sign that before inflation, we might face deflation if ressession depens into full blown depression. In that case our debt is even more onerous.
