The financial news is getting boring. The Dow goes only one way – up. But gold fell below $1,400 per ounce yesterday.
Rather than trying to figure it out, yesterday evening we drove down to Zombietown. A friend in Washington had promised to introduce us to Neil Barofsky, inspector general of the TARP program.
You remember TARP? It was the feds' $700 billion program to rescue the US economy from a correction. Neil Barofsky was in charge of it. So we decided to go down and ask him how it turned out...
Meanwhile, in yesterday's International Herald Tribune was a small note: "Economists agree that spending cuts and tax increases have slowed the US recovery."
Readers will recognize this as the usual claptrap.
Government spending does not bring a genuine "recovery."
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
Gold prices falling are a surefire indication of an improving economy.Funny as heck how some people turn that into a negative thing.
When we left the gold standard, life became suckier. Now, money is being counterfeited by the Fed so fast nobody knows what it's worth at any given time. Savings accounts no longer matter. Nothing has value. Prices change faster than one can keep track of, and tell me why it won't get worse.
Gold prices are falling because of manipulation by China and George Soros. Both are buying up as much as possible.
Actually, physical gold is flying off the shelves. You can not find it anywhere for spot. I know guys that are calling pawn and coin shops statewide for gold. Guys that have deep pockets. Check out the similar response in Asia. Physical is being gobbled up while the "paper"(ticker) gets beaten down.
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