Real output is already very cheap in gold terms. Instead, the most likely correction will take place in the stock market itself, either because the dollar sinks or because stocks sink…or both.
More from Bill Bonner
The Fuse is Lit
We’ve seen what a sharp, sudden spike in interest rates (the availability of credit) does; businesses tighten up, employees are let go, spending goes down and GDP rates go from positive to negative.
War at the Improv
We will soon get to see what effect a sudden uptick in oil prices will actually have. Will it send modern economies into recession? And when investors see it depressing corporate earnings?
Bill Bonner is the editor for
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