It's always interesting to read such an array of opinions concerning the economy. All I can say about the ownership of gold vs. stocks is that it's real tough to buy groceries and guns with the non existent dividends that gold pays. As long as my stocks continue to pay dividends (and they always have), I don't really care what they're worth, because they aren't for sale!
That's the conventional wisdom, but it's not always true.
August 20, 1997 I bought a small position in First Union National Bank - a good dividend paying stock. My purchase was 340 shares for a total cost of $16,266.
Since that date I have held those shares and reinvested all dividends, never taking a dime out. As of today, it has grown to 514.95 shares, but the aggregate gross value is only $13,090.
If I had withdrawn the dividends as you suggest, the value of the original position of 340 shares is $8,643 today.
I guess that proves I ain't no investor. If I had bought a nice double rifle with that money in 1997 it would be worth multiples of the original cost.
Go figure!!
Curl
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