Gold = Over-valued? or US Dollar being De-valued?
1.Gold = Over-valued?
or
US Dollar being De-valued?
It takes a record long 90+ hours of work for the average worker in the USA to buy 1 ounce of gold. 👀
maybe gold is overvalued
maybe the dollar is being devalued
(p.s. ...both can be true!) $Gold - main 2508(GCmain)$
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It's been a long time since the US went through a recession.
Is the cycle dead? 🧐
(...or just resting)
Some say the greater weighting of services (and government) + lower interest rate sensitivity + rise of tech has made the economic cycle obsolete.
I'd say that's dangerous thinking.
Things have changed, for sure, but I don't think things have changed that much. We're still human, we're still interconnected and interdependent, and eventually through something unforeseen, through policy error, through external shock, or more mundane reasons, there will be a downturn (and an eventual subsequent upturn). Long live the cycle... 🤔
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