If the nation has learned anything over the last three years it is that buying high is not a good recipe for success. Millions of mortgagors who purchased their homes in 2007 and early 2008 now own property that in all likelihood is worth less now than what they paid for it. And since market corrections occur in the housing industry every fifteen years or so, it will be quite some time before many of these owners will be in the black.
Well apparently lessons like the above are learned the hard way over on the Right where gold has now become the new investment fad. Well not quite a fad. Seems that gold has held a special place in the hearts of conservatives for years. To quote Stephanie Mencimer in a Mother Jones article titled, Glenn Beck’s Golden Fleece, “Amid economic downswings and social upheaval, the precious metal has come to be seen as a moral and political statement as much as an investment…And now, with the economy limping along and a black Democrat in the White House, gold mania has gone mainstream.”