Speaking as the man on the Clapham omnibus, I'd say that with their austerity measures, European governments at least appear to be addressing the debt problem now, which is more than could be said a few months ago.
Bill Bonner in The Daily Reckoning is warning that gold could go to $850 before bouncing back in a time of inflation (though he advises against selling it).
Then there's Mish, who thinks gold will be the king of currencies in a time of deflation.
I'm interested in the views of both. I take Mish more seriously but Bonner has got me somewhat spooked.