Not long ago, taking a skeptical approach to gold investing involved research. You know, looking at demand versus supply trends. Tackling its image as a hedge against inflation and a haven during rough times.
But now, with gold above $1,500 (U.S.) an ounce and defying the skeptics, maybe sarcasm is the best approach. David Weidner of MarketWatch (via Abnormal Returns) comes up with several reasons why you should buy gold. A couple of snippets:
"Your dollars are worthless. You can't buy a flat-screen TV with them. You can't send your kids to college with them. Money can't buy you love or happiness, put food on your table, pay for a trip to see the grand kids, put gas in your tank or pay the bills."
And "Because the U.S. economy is finished. We don't innovate. We don't make anything. General Motors Co. revival? Smoke and mirrors. Software? Who uses that? Biotechnology? No one's interested in living longer in these times. Health-care stocks? Technology stocks? Bank stocks?"
David Berman