There are a lot of gold bugs that feel the Dow to Gold ratio will favor gold if we have a major correction in the market. I'm in this camp, the dow look way overvalued to me.
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I agree- but the part I don't understand is usually when the market has felt high to me, we have not been creating money at this rate. As we keep creating and spending - are we going to keep the stock market bubble inflated till we stop? I agree the P/E rations are really off for a large groups of companies, but I guess if we devalue the currency enough we can get the P/E to fall - just wont mean as much,
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