Deepening crisis traps America’s have-nots
The US is drifting from a financial crisis to a deeper and more insidious social crisis. Self-congratulation by the US authorities that they have this time avoided a repeat of the 1930s is premature. By Ambrose Evans-Pritchard
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8249181/Deepening-crisis-traps-Americas-have-nots.html
Gingrich Proposes Allowing State Bankruptcies, To Escape Pension Obligations By John Keefe | Jan 11, 2011
http://moneywatch.bnet.com/economic-news/blog/macro-view/gingrich-proposes-allowing-state-bankruptcies-to-escape-pension-obligations/2967/
MARKETWATCH.COM
About gold, Schultz retains his long-term bullishness. He quotes the respected Seeking Alpha service:
“For gold to match the growth in US M1, M2, public debt & budget deficit, gold will have to reach $1,800, $2,400, $7,800 & $13,200, respectively. While I can’t imagine gold going to $13k, these numbers tell me that calling gold a bubble is a bit premature. In my view, money supply, public debt & the budget deficit are in a bubble, not gold, not yet.”
Schultz’s comment: “Wake me up at $2,400 gold.”
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