If someone else could post the chart, it is as important as the article. I have seen gold-real estate ratios, but this is the first time I have seen one on silver. http://news.goldseek.com/GoldSeek/1296852796.php By Jeff Clark, BIG GOLD For most people, there are some surefire luxuries that signify wealth, a few pearls of conspicuous consumption that say you've made it. For me, it's always been a second home. My grandparents owned a vacation home in Arizona and then Florida when I was a kid, and it was an annual highlight to travel there every year. But something happened on the way to my generation's version of the American dream. Of all the people I knew that had second homes, only one acquired it through their own hard work and success. The rest inherited them. With high unemployment, shaky business conditions, desperate governments, weak real estate demand, and a suspect stock market, owning a vacation home is not even on the radar these days for most Americans. Paying their existing mortgage is the primary concern, something millions of homeowners still aren't able to do. So, how is it that I can suggest a way to buy a vacation home in these conditions? Because there are two trends in motion that I believe will continue working in our favor. And it likely won't take long for them to reach a culmination point, allowing those of us with such a goal to see it realized. The chart below will give you an eye-opening visual of my claim..............................................
That's because whilst the average US Joe Sixpack is getting a harsh lesson in economic reality, the average Australian mortgage holder is still deluded to the point of hysterics. But don't worry, it's different here! :lol: :lol: :lol:
LOL - Have heard this said many times over the years, and the sad part is people really believe it. When the Soft and Brown finally hits the fan, many Australians are going to dumped on their arse so hard, and its going to be hard to feel sorry for them. Paybacks a bitch - I may be tempted to march up and down the street with a sandwitch board saying "I told ya so. - Who's the Village Idiot Now"
yea ive stopped pointing out the benefits of silver to people cos they look at me kinda funny but I think the same thing.I know some of my friends will be doing it tough in the future but i tried to warn them.A friend of my wife says "I couldnt be bothered with that (silver)Id rather spend my money" another friend says "why would you buy when its so high?"($30oz) I answer with Im protecting my future then start to explain but i get the "Ooooh Kaaay" I was a little bit the same when a friend put me onto it but once you start researching it, its all there in front of you. But each unto their own.Im doing this so my kids can benefit.
I have almost given up with dinner party conversation that touches on the economy where any commentary with regard to PM (not so much PM stocks) is raised. It just does not resonate or get any sustained traction. Mention property and the participation rate is instantly raised generally in a positive light. This in-part is the definition of a bubble with everyone so collinear. You musts hand it to Real-estate agents, Government incentives at all levels, Banking interests, Media hype, Glossy mags, over proliferation of the Aussie dream, over consumerism and plain greed. Everyone is out to make a bucket of money without realizing what money actually is. I do think of the collective consequences among our fellow Australians yet to come who are so heavily geared. One tries to inform people who you care about but amazingly can come against some really engrained positions that have all eggs in the one basket. Ok, you can't print houses and you need a place to live (I have a negatively geared House and live in rental accommodation) so I am in property, but the rest is about equal in PM, PM stocks and, cash. As a consequence ready to pounce on opportunity that may come up in the ensuing shakeout period that at some point in the future may reshape our banking system and currency.
