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E-PrinceThe world economy is in a state of “apocalypse not now,” Nobel laureate and Wilson School professor Paul Krugman told an audience of roughly 300 in McCosh 50 on Wednesday afternoon. Krugman juxtaposed a confidence in the handling of the ...(back to the article)
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We are now entering the Greatest Depression. DXY fell below 75 today. There will be no free lunch Mr. Krugrman and the US dollar will collapse.
But I encourage all the mindless libs to keep hoping and that the economy will improve.
Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the precious metal for investors seeking to preserve their wealth.
Gold futures climbed as high as $1,045 an ounce in New York, topping the previous record of $1,033.90 in March 2008. The spot price is headed for a ninth straight annual gain, the longest rally since at least 1948. The dollar fell as much as 0.7 percent against a basket of six major currencies.
“Gold is acting like the ultimate currency,” said Chip Hanlon, the president of Delta Global Advisors Inc. in Huntington Beach, California. “Central banks are following the same monetary course and trying to stimulate and inflate their way back to growth. Everyone’s concerned about the dollar, but it’s not like you can hate the dollar and fall in love with the euro or the yen.”
U.S. President Barack Obama has increased the nation’s marketable debt to an unprecedented $6.78 trillion as he borrows to spur the world’s largest economy. Goldman Sachs Group Inc. predicts the country will sell about $2.9 trillion of debt in the two years ending next September. [...]
And liberals scoff about buying commodities and medals.
Didn't you know Barack Obama and Helicopter Ben care about the strength of the dollar? He said it so it must be true.
Oil breached 82 dollars. Soon we will have 5 dollar gas and 25 percent unemployment.
Welcome to Obama's America.
the overvalued dollar is the main reason for the massive trade deficits so stop whining, a cheaper dollar is not the end of the world
And where does your magical government get its resources? From private citizens. Any consumption by the government is that much less stuff available to private citizens. DUH. Consumption is ALWAYS a destruction of wealth; that's why it's called consumption and not saving.
The $1.4 trillion deficit is $1.4 trillion of private citizens' wealth that has been removed from the economy.
And even if there was, if China wants to hold a bunch of pieces of paper, that's GREAT FOR US. We should print as much as we can, get them to ship everything they have, and refuse to take the paper back.
Libertarians and conservatives are so adorable when they act like they understand economics. You want to pinch their little gold-bug cheeks.
so, so true.
Ha yea liberals are doing such a great job.
The only mainstream economists who have a clue are all conservative (schiff, rogers)