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Nothing Fails Like Success
Bill Bonner (June 17th, 2009) Writes:
With the Rally Nearly Over the Germans are Buying Gold.
The Dow fell another 107 points yesterday. Oil held steady at $70. The dollar fell to $1.38. And gold rose $4 to 932.
What if the rally is over? Could be… It began on 9 March. That makes it more than 3 months old. Most likely, it will continue through the summer. But who knows?
The important thing to remember is this: there can be no major, sustained bull market without one of two things happening.
Either… the mistakes of the Bubble Epoque must be cleared away… allowing for a new era of genuine growth and real prosperity. At best, this would take a few years to achieve. Just imagine how long it will take to restructure GM into a profit-making business again. Just imagine how long it will take consumers to pay down their debts so they can begin to spend again. Just
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