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 By Prieur du Plessis, on July 18th, 2011 posted in: Economy, Interest Rates, World  Leave your comment
The past week in monetary policy was dominated by Asian central banks, with the central banks of Japan, Indonesia, Thailand, and South Korea all announcing interest rate decisions. Read on for a comprehensive review of central bank actions. [...] 
This post provides a transcript of Jim Puplava‘s great interview on Financial Sense with Marc Faber, author of the Gloom, Boom & Doom Report. In a wide-ranging interview, they discuss Ben Bernanke, QE3, inflation, gold and much more. A link is also provided to the audio interview. [...] More on this topic (What's this?) Ben Bernanke, an avatar of Lord Krishna (CRUDE OIL - A SHRINKING RESOURCE, 8/24/11) U.S. Federal Reserve Chairman Ben Bernanke Disappoints with Press Conference (Money Morning, 5/4/11) Marc Faber: Money Printing Dictates Market Movements (GreenLightAdvisor Views, 12/18/11)
Professor James Galbraith of The University of Texas, says we’ve entered “a tragic moment” in history where our elected officials are more apt to put ideology before the good of the entire country, according to Yahoo! Finance. [...] More on this topic (What's this?) Three Reasons Yahoo Inc. (Nasdaq: YHOO) Could Rally Without Co-Founder Jerry Yang (Money Morning, 1/18/12) Note to Congress: Check Out These Charts and Wake Up (Wall Street Daily, 7/29/11) The Truth About the National Debt (Learn Mining News, 1/14/12)
Today’s quote comes courtesy of Mark Thoma, author of the Economist’s View blog and Professor of Economics at the University of Oregon. He said: “A couple of recent conversations have convinced me that many people have “bubble illusion”. When they talk about how much they have lost on their houses and in the stock market, and how that has affected their feelings of economic certainty, etc., the losses are almost always expressed relative to the peak bubble value rather than to a realistic assessment of what the house or stock was actually worth during the bubble years.” [...]
“Recent events and likely policy responses lend support to our view that the developed world is heading for a ‘nominal’ rather than a ‘real’ solution to its problems,” argues Joachim Fels of Morgan Stenley in this guest contribution. “Governments’ apparent inability to come to grips with the long-run fiscal policy issues in Europe and the US, together with the uncertainties surrounding the growth outlook, are forcing central banks to keep the spigots open for longer. This makes an inflationary global outcome in the next several years more and more likely. However, a good dose of inflation may be exactly what the doctor ordered for a highly indebted developed world. As the 1930s and Japan have taught us, the opposite would be much worse in many respects.” [...]
Over the long term, silver prices will increase, investor Jim Rogers told CNBC. “Silver’s going to go much, much higher over the next decade,” Rogers said. [...] |
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