Articles in the Economics Category
Posted in Economics, Gold on 10 November 2011
With the failure of Italy and the European Union imminent, Dr. Peter Morici, professor of economics at the Richard Smith School of Business at the Univesity of Maryland is calling for gold prices to hit $3,000 per ounce.
“With the implosion of Italy,” says the University of Maryland’s Peter Morici, “Portugal and Spain would not be [...]
Posted in Economics, Gold on 28 May 2010
According to Coin Update News:
The fear running through the Greek populace is that the nation’s government may default on some of its debts.
Since 1965, the Greek government has imposed restrictions on trading British Sovereign gold coins (gold content .2354 oz). Despite those restrictions, the Bank of Greece reports that it is selling an average [...]
Posted in Economics, Gold, Inflation on 18 May 2010
Here’s a great video of Robert Cohen, portfolio manager and Goodman & Co, an investment fund in the top 2% in terms of returns.
He explains the reasons for the recent spike in gold prices and says that he expects gold to continue to appreciate for at least another decade if not several more.
If you [...]
Posted in Economics, Gold on 12 May 2010
The price of gold hit a new high of $1,247/oz today, beating it’s previous high of $1,226/oz. According to the Wall Street Journal:
“Gold’s strength indicates investors view the European Union and International Monetary Fund rescue package as a short-term fix that doesn’t reduce uncertainty on how governments will reduce their high debt levels.”
The gold [...]
Posted in Currency, Economics on 5 May 2010
One analyst seems to think it might happen. David Rosenberg, analyst at Gluskin Sheff, says the breakdown of the euro could well drive the price of gold to $3,000. Today the euro dropped to $1.28, and it is down over 12% from its high of $1.51 against the US dollar.
In a note to investors, Rosenberg [...]
Posted in China, Economics on 21 April 2010
In exchange for a promise of 400,000 barrels of oil a day by 2015, China has agreed to lend Venezuela $20 Billion that it sorely needs. This will help offset China’s dependence on Saudi Arabia for its oil needs. Venezuela produces extra-heavy oil that is high in sulphur and has specific refining needs. Most of [...]
Posted in Gold, US Debt on 16 December 2009
Buying and accumulating gold must be seen as a LONG-TERM proposition. I can tell you that gold is going much higher, but I can’t tell you when. I can tell you what to buy — gold bullion coins — but I can’t tell you when it’s going to go into its bubble phase. By the [...]
Posted in Gold, US Debt on 16 October 2009
David Tice is another gold bull who predicts the shiny yellow metal will hit $3,000/ounce during this cycle. While not has bullish as other goldbugs like Peter Schiff who predicts $5,000/oz, he has the same philosophy behind his declaration.
Tice worries about the debasing of the US dollar, and our excessive reliance on foreigners to fund [...]
Posted in Currency, Economics on 3 October 2009
Daniel John Hannan is a British politician (representing the Conservative Party) and a Member of the European Parliament. In this scathing MUST-SEE speech in March 2009, he tells the UK Prime Minister, Gordan Brown, that the UK has negative equity, has run out of money and that he’s a “devalued prime minister of a devalued [...]
Posted in Economics, Inflation, US Debt on 14 September 2009
Just in case there was any doubt, Puru Saxena declares the good ‘ol USA completely bankrupt!