I forgot to mention something that Jay Taylor said. Said? Yelled was more like it, to a crowd of onlookers at the New York Hard Assets Investment Conference last week.

I even think he was pounding his fists on the table, when not waving his arms in the air. All this as he was trying to explain why he was absolutely convinced that we're going into a deflationary depression, and why that would be better than an inflationary depression for the gold industry, since it'll make mining cheaper to do.

Anyway, when I saw this NY Times article today about an unexpected/unwelcomed drop in prices, I thought perhaps Jay might be onto something.

http://www.nytimes.com/2010/05/20/business/economy/20econ.html?hp

Cheers,

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