Thursday, March 13, 2008

Thoughts?

Gold is nearing a new $1000 record.

People can call this rush to commodities whatever they like but it sure seems to me like investors -- who have insisted on double digit returns ever since the tech boom -- are creating a new bubble for their financial enjoyment. Since there isn't a more attractive place to park their money right now, they're focusing on commodity futures.

As they start to drive up prices, I can't help but wonder what this bodes for the rest of us, for whom things like gasoline and food are part of daily survival and not just a portfolio asset.

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