One of things that I could not pass unnoticed was a number of gold buyers along roads in Florida I started getting a feeling that we are heading to a wrong direction. I was thinking that currently a lot of wealth is stashed away in gold creating a bubble. Eventually this bubble will burst. Gold sucks out all resources out of development and innovation much needed for the future. This will cost us in years to come. This wealth should be moving, moving to produce value.
Nouriel Roubini put it in a more formal way. I’m quoting his tweet:
if you want protection against inflation risk stock up on Spam that you can at least eat rather than Gold that has no intrinsic value or use
The reason of this situation is simple. We get more and more “investors” looking for “easy money” and less investors willing to invest into innovation and growth. We just become less confident in what we can do.
No comments:
Post a Comment