A consensus has formed that the government's massive money printing and debt-powered spending binge will soon destroy the destroy the dollar, crippling the remaining savings of anyone dumb enough not to buy "real" assets--like gold.
John Mauldin, president of Millennium Wave Advisors, thinks that's ridiculous. He's also author of the popular e-letter, "Thoughts from the Frontline."
The Fed is printing money, Mauldin says, but overall credit is being destroyed. The government is desperately trying to bring back inflation, so we can lessen the real burden of our huge debts, but this will take a year or two at best.
So in the meantime, Mauldin says, ignore the gold bugs. They've been wrong for 25 years and they'll keep on being wrong for the foreseeable future.
No comments:
Post a Comment