Lew and Karen, re "being long gold is being short America": as I write this, the price of gold is up to $993/oz., while the Dow is down another 80+ points. Political correctness has infected personal investment policies! Is a return to economic prosperity to be premised on a rejection of the individual self-interest that drives the pursuit of our well-being? The "stimulus" package rewards marketplace incompetence, while investment advisors embrace altruism, a mix from which we are expected to draw "hope" for a brighter future?
Such moronic thinking recalls the investment gurus who, a year or more ago, were on television advising people to invest in the banking industry, while responding to Peter Schiff's warnings with little more
than a chorus of giggles. When we are asked to choose between "hope" and "understanding," I always opt for the latter.