Are we on the verge if a disaster? Gold at $600 and Oil

[Nimrod2005]

at an all time high - going to $70.00 or $75.00. Somehow I think these 2 facts are a complete nightmare economically, but I am not smart enough to analyze the consequences of what's going on...Strikes me as very wrong.

Any thoughts? form the smart people?

[acmejack]

1. Air going out of the dollar!

[MADem]

3. Yep, we won't be able to afford to travel, the exchange rates will be

killers!

[midnight armadillo]

2. My CEF investment is doing well

I've made 30% since last fall on my Central Fund of Canada investment with my 401k. I dunno what the signs portend but it's profitable so far ;)

[the other one]

4. The Dollar is doing a swan dive

A long time coming.

Prices aren't really going up - the dollar just doesn't buy much anymore.

Lots of factors: huge deficit, global demand for oil, printing too many greenbacks, the rest of the world losing confidence.

The upshot: We are screwed. The smart money is abandoning the dollar in droves. Gold is cheap at $600.

[poverlay]

5. This guy is really good: http://dark-wraith.com n/t

[gordianot]

6. Bush may have to bomb Iran to avoid foreclosure.

Sorry this is not from a smart person but I have heard smart persons say this. Remember this family has a real interesting banking and investment history.

[Mrspeeker]

7. Only if you drive or use gold

Of course everything we consume is brought to us by transportation that uses oil, so the long term effects of the administrations addiction to oil is a can of soup will cost $20.00 dollars next year. A commute to work will triple over the next year. So basically everything will be alot more money, well except wages..LOL

[RaleighNCDUer]

8. Well, damn. What am I going to do.

I don't even own a wheelbarrow.

[Warpy]

9. Our times are about to become very interesting

If cooler heads manage to restrain the pissant in the White House on more tax cuts to the wealthy and more wars of corporate convenience, we may be in for a deep recession. However, all the ingredients are in place for a depression, one we won't be able to borrow and spend our way out of.

This country needs a radical reassessment of its priorities. Unfortunately for all of us, it will take a disaster to provoke it.