John ODonnell joins Vince and Oliver to discuss the current state of globalization and the implications that has for your portfolio. John mentions Bob Prechter's new book and how much he respects Prechter's work. Vince details expectations for gold in the first quarter 2010. Gold has a great run since 2000, 9 year bull market. At same time dollar has lost it's purchasing power relative to gold. John expects a rally in the dollar which may suppress the price of gold. John details the state of commercial real estate and forecasts the next two years. (mp3)
John and Vince discuss the Japanese investments in California in the 1980s and how that may be a model for what happens in the rest of the US. OptionARM resets come due in 2010. John explains how the derivatives drove AIG to the brink. The lack of confidence in the dollar is reflected in global confidence in the US economy. American consumers are losing purchasing power as the dollar declines. John discusses two previous bear markets and how they may predict the current situation. (mp3)
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