So is it 2008 all over again? A sharp break in stocks coinciding with multiple fiscal crises – Is this collapse in the price of gold a harbinger of another major stock market crash?
April 16th, 2013
The Long Wave Versus the Printing Press: Another 2008?
Marc Faber of the Gloom Boom Doom Report was interviewed by Bloomberg on Friday, and of course topic number one was the brutal takedown of gold. Not all that surprisingly, he likes the resulting buying opportunity and expects “a major low in gold within the next two weeks.”
More interesting from a theoretical/historical point of view was his segue from gold to the state of the global economy:
“Today we have commodities breaking down including gold and we have bonds rallying very strongly. If you just stand aside and just look at these two events they would suggest that there are strongly deflationary pressures in the system.”