Brimelow: - Stock collapse and $12,000 gold

After six down weeks and a savage slump on Tuesday, the specter of a 2008 Crash haunts Wall Street. But two certified doomsters are (slightly) more cautious.

“Many respected analysts are warning that another financial crisis could be on the horizon similar to the one in 2008. They claim that since the 2008 meltdown was not allowed to end naturally, the conclusion is still coming. This is a real possibility since the fundamental, underlying factors that triggered the crisis to begin with still persist.."

"..$3,000 is an absolute minimum gold target. I can believe in targets certainly above $5,000 and it’s theoretically possible to go to $12,000…If we get as high as $12,000, a lot of very bad things will have happened to our economies.”

"..stocks could be headed for a steep fall.”

[link to www.marketwatch.com]