Quote Originally Posted by Parkbandit View Post
They were saying that when I first got into gold.... now it's at 1700 an ounce.

If it does pop, that means we got our fiscal house in order. I don't see that anytime soon.
You base this on what exactly?

Gold hit the record high of $850/oz at the beginning of 1980 (that's $2,328.44 adjusted to today) and then took a nose dive a little later to around $300/oz (821.80 adjusted to today) ... and our fiscal house wasn't exactly in horrible shape (though it was about ready to get the shit kicked out of it).

You can't peg a bubble bursting on the health of fiscal house ... you're essentially saying that bubbles (generic) pop when the government has a control on the budget (spending and revenues). History has pretty much shown that bubbles tend to go pop when things are on the head end of a slide ... or the pops cause slides.

The gold bubble bursts when there is a massive dump of holding into the market ... or people realize the price is ridiculous and they just stop buying.

Quote Originally Posted by Nachos DLC View Post
You may be mis-remembering. The claim was that WITH the stimulus, unemployment would peak at 8.5% (Eric Cantor said Obama used this number) and go no higher. Obviously this was wrong, but I don't think anyone expected unemployment to stay below 8%. Private sector projections were 11-13% without a stimulus, the other (partisan) government projections were higher.
I don't believe Obama actually mentioned those numbers ... aids out of his administration did. Likely "former" aids not long after.