Flash, you say you expect another down turn in the stock markets?
Well we did have an economic down turn in the summer of 2006, another in fall of 2007 and a whopper in Oct.2008. 2008 was exacerbated by the financial failures, i.e Bear Sterns & Leahman etc. Autumn is a traditional time for reassessment of one's economy.
The US banks are still in financial trouble as is their economy due to not tightening their debt belts but sweeping things under the rug.
So yes, I do expect more failures in the US of A.
Will these affect the stock markets? Financials most likely but the rest and particularly the mining stocks should get a boost.
If you see your assets are about to get a hit you sell them and go into ones that are not likely to, so where will you go? Precious metals as bullion is a traditional safe haven.
Stocks possessing same should be the next tier. Base metals a third tier.
With base metals it depends on the world markets, i.e. economy but there the only lingering anvil hanging around the global neck is USA. To protect themselves they resort to publicizing other people's problems, namely Europe and specifically Greece while covering up California and several other states. They also try to scare people that China's economy is about to turn back to reduce investments diverting there. Utter nonesense. China on occasion has a percent or two of retrace but if their average is near 10%, that is merely a hick up. India is joining China in growth. Just look at the currencies to notice who is doing well.
To keep it short and simple, the US is the problem. They are not solving it but merely trying to divert the planet's attention from themselves onto lesser problems which in some cases do not even exist.
Recent oil damage to US Gulf coast has cost ramifications. That cost will take time to appear on the books.
So will US problems affect the stock matkets? Probably but mostly US stocks.
China, Canada, Brazil,Australia etc. should do just fine.
As for Noront and the Ring.
This is the future that has been maligned not only by the state of economy but by people of influence to garner as much value for themselves at the expense of those subjected to fear mongering.
The known resources of the Ring will not disappear and more will be found and verified to be economical. This region will be developed, it is a question of time. And probably no one knows about how much time it will take.
I can only paraphrase: If there is blood on the streets it is time to buy, when things are well, time to sell.
