Gold Fever

[jamsvet]

Wife and I went to Carlsbad today and were walking around the city. We went into a coin shop just for grins and there were about ten people in there and only two clerks. Next thing you know, they will have to have people take a number. Just across the street was a big sign saying “Get in on the gold buying boom now”

It reminds me of the lines whenever a new housing development opened.When the common people get in on something, its too late.

[Eugene]

[img_assist|nid=11934|title=|desc=|link=node|align=left|width=100|height=76]

See the divergence circa February ’09? That’s where smart money started exiting the market and gold entered the conscience of common folk. You might remember the Cash4Gold.com Super Bowl commercial. It should come as no surprise to you that it aired on February 1st, 2009.

Another notable factor, if you look around in the internet, the possibility that gold prices could go down does not even enter the public consciousness. You’ll find serious analysts forecasting gold to go to 1100, 1200, some forecast 2000, some forecast 5000 … it’s hard to find a dissenter who dares to forecast a decline. Just like Krugman was almost alone warning people about the upcoming housing bubble bust in 2005-2006.

Yet there are signs indicating that you should be worried, for example:

“… Gold jewelry market “close to dead” compared to a year earlier, and there is no real physical buying outside of investment demand… Jewelry buying typically accounts for around 60 percent of global gold demand.” (Reuters, September 18)

Unfortunate parallels between people buying gold now and subprime suckers buying houses in 2006 come to mind.

[Eugene]

[img_assist|nid=11934|title=|desc=|link=node|align=left|width=100|height=76]

See the divergence circa February ’09? That’s where smart money started exiting the market and gold entered the conscience of common folk. You might remember the Cash4Gold.com Super Bowl commercial. It should come as no surprise to you that it aired on February 1st, 2009.

Another notable factor, if you look around in the internet, the possibility that gold prices could go down does not even enter the public consciousness. You’ll find serious analysts forecasting gold to go to 1100, 1200, some forecast 2000, some forecast 5000 … it’s hard to find a dissenter who dares to forecast a decline. Just like Krugman was almost alone warning people about the upcoming housing bubble bust in 2005-2006.

Yet there are signs indicating that you should be worried, for example:

“… Gold jewelry market “close to dead” compared to a year earlier, and there is no real physical buying outside of investment demand… Jewelry buying typically accounts for around 60 percent of global gold demand.” (Reuters, September 18)

Unfortunate parallels between people buying gold now and subprime suckers buying houses in 2006 come to mind.

[Eugene]

[img_assist|nid=11934|title=|desc=|link=node|align=left|width=100|height=76]

See the divergence circa February ’09? That’s where smart money started exiting the market and gold entered the conscience of common folk. You might remember the Cash4Gold.com Super Bowl commercial. It should come as no surprise to you that it aired on February 1st, 2009.

Another notable factor, if you look around in the internet, the possibility that gold prices could go down does not even enter the public consciousness. You’ll find serious analysts forecasting gold to go to 1100, 1200, some forecast 2000, some forecast 5000 … it’s hard to find a dissenter who dares to forecast a decline. Just like Krugman was almost alone warning people about the upcoming housing bubble bust in 2005-2006.

Yet there are signs indicating that you should be worried, for example:

“… Gold jewelry market “close to dead” compared to a year earlier, and there is no real physical buying outside of investment demand… Jewelry buying typically accounts for around 60 percent of global gold demand.” (Reuters, September 18)

Unfortunate parallels between people buying gold now and subprime suckers buying houses in 2006 come to mind.

[Eugene]

[img_assist|nid=11934|title=|desc=|link=node|align=left|width=100|height=76]

See the divergence circa February ’09? That’s where smart money started exiting the market and gold entered the conscience of common folk. You might remember the Cash4Gold.com Super Bowl commercial. It should come as no surprise to you that it aired on February 1st, 2009.

Another notable factor, if you look around in the internet, the possibility that gold prices could go down does not even enter the public consciousness. You’ll find serious analysts forecasting gold to go to 1100, 1200, some forecast 2000, some forecast 5000 … it’s hard to find a dissenter who dares to forecast a decline. Just like Krugman was almost alone warning people about the upcoming housing bubble bust in 2005-2006.

Yet there are signs indicating that you should be worried, for example:

“… Gold jewelry market “close to dead” compared to a year earlier, and there is no real physical buying outside of investment demand… Jewelry buying typically accounts for around 60 percent of global gold demand.” (Reuters, September 18)

Unfortunate parallels between people buying gold now and subprime suckers buying houses in 2006 come to mind.

[Eugene]

[img_assist|nid=11934|title=|desc=|link=node|align=left|width=100|height=76]

See the divergence circa February ’09? That’s where smart money started exiting the market and gold entered the conscience of common folk. You might remember the Cash4Gold.com Super Bowl commercial. It should come as no surprise to you that it aired on February 1st, 2009.

Another notable factor, if you look around in the internet, the possibility that gold prices could go down does not even enter the public consciousness. You’ll find serious analysts forecasting gold to go to 1100, 1200, some forecast 2000, some forecast 5000 … it’s hard to find a dissenter who dares to forecast a decline. Just like Krugman was almost alone warning people about the upcoming housing bubble bust in 2005-2006.

Yet there are signs indicating that you should be worried, for example:

“… Gold jewelry market “close to dead” compared to a year earlier, and there is no real physical buying outside of investment demand… Jewelry buying typically accounts for around 60 percent of global gold demand.” (Reuters, September 18)

Unfortunate parallels between people buying gold now and subprime suckers buying houses in 2006 come to mind.

[temeculaguy]

chris scoreboard said it was a bubble a while back, I believed him then. Still, at today’s price, even it hits 5000 in six months, it will profit less than automaker and homebuilder stocks have this year so far (ford $1 to $7 and hovnanian homes 50 cents to 4.50, both in under six months) so running into burning buildings still pays more than being trendy.

[temeculaguy]

chris scoreboard said it was a bubble a while back, I believed him then. Still, at today’s price, even it hits 5000 in six months, it will profit less than automaker and homebuilder stocks have this year so far (ford $1 to $7 and hovnanian homes 50 cents to 4.50, both in under six months) so running into burning buildings still pays more than being trendy.

[temeculaguy]

chris scoreboard said it was a bubble a while back, I believed him then. Still, at today’s price, even it hits 5000 in six months, it will profit less than automaker and homebuilder stocks have this year so far (ford $1 to $7 and hovnanian homes 50 cents to 4.50, both in under six months) so running into burning buildings still pays more than being trendy.

[temeculaguy]

chris scoreboard said it was a bubble a while back, I believed him then. Still, at today’s price, even it hits 5000 in six months, it will profit less than automaker and homebuilder stocks have this year so far (ford $1 to $7 and hovnanian homes 50 cents to 4.50, both in under six months) so running into burning buildings still pays more than being trendy.

[temeculaguy]

chris scoreboard said it was a bubble a while back, I believed him then. Still, at today’s price, even it hits 5000 in six months, it will profit less than automaker and homebuilder stocks have this year so far (ford $1 to $7 and hovnanian homes 50 cents to 4.50, both in under six months) so running into burning buildings still pays more than being trendy.

[4plexowner]

“chris scoreboard said it was a bubble a while back”

he’s been saying this since gold was at $500

currently at $1008 …

[4plexowner]

“chris scoreboard said it was a bubble a while back”

he’s been saying this since gold was at $500

currently at $1008 …

[4plexowner]

“chris scoreboard said it was a bubble a while back”

he’s been saying this since gold was at $500

currently at $1008 …

[4plexowner]

“chris scoreboard said it was a bubble a while back”

he’s been saying this since gold was at $500

currently at $1008 …

[Author]

Posts