I never understood the 'buy gold' argument. Gold is basically useless other than on bas's watches and therefore is purely speculative. It's hot for awhile, people buy it then it goes down when people get bored with it. In a global meltdown/crisis, wouldn't you want bundles of wheat, barrels of oil, etc rather than a gold bar? Now I know you rarely actually hold these commodities physically, but it just doesn't make sense to me.
Also, agree with chop above. The sky is not falling. The market comes and goes but betting against the whole of the market is basically saying that large multinationals aren't going to profit over the long term and thus, not pay a dividend. So you're saying Home Depot, McDonald's, coca cola, Boeing, walmart, etc are going to fail long term? I doubt it.
i know this puts things in the simplest of terms, but I try to keep things simple most of the time.
