Gold has been hitting record highs day after day. In fact, in the past month, I can count on 2 hands the number of days that gold has fallen. The rest of the days, gold has been rising! Because of that, we're bound for some sort of corrections as investors pile in for profit-taking. Nothing goes up in straight all the way. As I've mentioned before, this will just be a temporary dip in a bull market. And gold is not just rising in USD, but also in other major world currencies. The whole world has printed currencies like mad. Cheap paper money, backed by nothing, producing nothing. If this is a way to wealth, it would have been discovered eons ago.
Anyway, recently we've been hearing from the mainstream media about the improving situation in the US. Unemployment is 10%, down from 10.2% (This is what they call the U3 measure of unemployment). Well guess what, the U6 measurement of unemployment - which includes discouraged workers, and people holding part-time jobs but are looking for perm jobs) is still above 17%. And here's a link to some real numbers:
During Obama's election campaign, he warned that unemployment will rise above 8% if there's no stimulus package. Sadly, even with the Obama stimulus, unemployment rate rose straight up above 10%. The govt is still left scratching their heads as to why the stimulus is not working. If you look deeper into the recently published govt figure, you'll realize that most of the jobs created were in the healthcare and education sectors. These are services sectors, sectors that drain a country's coffers. On the other hand, the US has lost 45,000 (if I remember correctly) manufacturing jobs! You don't get out of debt by consuming more and producing less (common sense!). This certainly is not a recovery. It's a cover-up.
Well, one may argue that this is a jobless recovery. Seriously I wonder who coined this term to fool the public. It's like saying 'almost pregnant' (Gerald Celente's favourite phrase). There is no such thing! Speaking of Celente, I recently subscribed to his trends journal. This guy has been correct in predicting so many major trends, including the start of the gold bull run around 2000, the terrorist attack in the US in 2001, housing bubbles, the dot-com bubble, economic and financial crisis, etc. Proof: http://trendsresearch.com/forecast.html
This is not fear-mongering or alarmism. It's better to prepare oneself than to take it for granted that things will be rosy and alright. Anyway it doesn't take a genius to really figure out that things are really not alright in our world today. When the greatest depression - which is bound to hit the world - happens, we can expect worldwide trade to drop 30% or even more. There'll be untold hardship around the world. I've read a few newsletters that he has sent to me, and they're really great information that the public will never see (until it's too late). It only cost US$99 for 1-year's subscription. I managed to get it for $50 with a good reason (Yes you can get a discount if you write to him). I will be eagerly awaiting for his Trends 2010 report, which is due to arrive in early January 2010. Among his major forecast for 2010 is the US commercial real estate collapse, which I mentioned in earlier posts, and a high probability of a terrorist attack of 9/11 magnitude.
Look him up on youtube, he's really great to listen to!
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