Gold passes 800 dollars an ounce

[Guest]

Re: Gold passes 800 dollars an ounce

Good rag otherwise though, right? I like their slightly stodgy middle-of-the-road style. Nobody does that quite like the British.

[jk]

Re: Gold passes 800 dollars an ounce

good reportage. just be aware that they're susceptible to conventional wisdom.

[GRG55]

Re: Gold passes 800 dollars an ounce

good reportage. just be aware that they're susceptible to conventional wisdom.

jk, as you're the resident brain, am I correct in thinking that most people, most of the time, preferentially seek out and read things that reinforce their existing opinions or point of view? (was that the basis for your call for more bun fights on iTulip?)

If that is correct, it's probably difficult for any mass market publication, including The Economist, to sell many copies if it's seen to chronically stray too far away from the current popular view of the majority.


(I have a prejudice that today's societies and school teaching methods actually discourage independent critical thinking. The FT, a paper I started reading when I first moved overseas some years ago and now regard as somewhat "better" than the WSJ, also enjoys running periodic articles trashing gold. The tone has softened, but some of the stuff they ran back in 2004/2005 suggested that anyone investing in gold must suffer mental deficiencies, as they were clearly incapable of embracing the obvious truths of a modern financial system, confirmed by 20 years of declining gold prices. Talk about discouraging independent critical thought...) :cool:

[touchring]

Re: Gold passes 800 dollars an ounce

the economist's famous cover article, "a world awash in oil," marked the bottom for the oil price. i was foolish enough to believe it at the time.

After trying to read what the US Fed is trying to do from their statements and announcements for the past 2 years, i can only come to a conclusion - it's all propaganda - they really mean the opposite. :p

Do your own ground and statistical studies and come to your own conclusion. And don't rely on statistics published by US bodies, e.g. CPI, etc.

[jk]

Re: Gold passes 800 dollars an ounce

am I correct in thinking that most people, most of the time, preferentially seek out and read things that reinforce their existing opinions or point of view? (was that the basis for your call for more bun fights on iTulip?)

If that is correct, it's probably difficult for any mass market publication, including The Economist, to sell many copies if it's seen to chronically stray too far away from the current popular view of the majority.

this is called confirmation bias, and is a seductive source of comfort for the short run and losses for the long run. but you're right, it's hard to see how a mass publication could stray too far from the conventional wisdom.

[Guest]

Re: Gold passes 800 dollars an ounce

Yet more obsessing, from a silver bug (watch the relative strength to gold progression):