DUST - Gold And Gold Miners: A Long-Term Perspective
This post is divided into 2 parts:
Part 1 - Gold
The 2 charts below sum up my positive view on gold. The first is the long-term chart of US nominal GDP growth.
US Nominal GDP
As you can see, nominal US GDP has been slowly falling since its post world war peak in 1973. The second is real US GDP, and this is falling faster than nominal GDP as inflation has been slowly falling.
US Real GDP 1949-2012
The trend line of US growth is falling at approximately .7% of real GDP every decade