Archive - Feb 11, 2010 - Blog entry

Perhaps if the Bank of England, the US Treasury and the US Federal Reserve had not been surreptitiously suppressing the price of gold futures through their puppet bullion banks on Wall Street for decades, I would agree with George Soros that gold was the ultimate asset bubble. Had this been the case, gold’s price would be multiples of its current price given the low interest rate environment that exists worldwide. But since this is not the case, there currently is no greater asset bubble than the US dollar and US Treasury bonds.

While the topic du jour remains: "Just How Ugly Is The Sovereign Default Truth? How Self Delusions Prevent Recognition Of Reality" ... thought we'd mix it up a bit and take a daily & weekly look (8 charts) at everyone's favorite dead PIGS walking ~ Portugal, Italy, Greece & Spain

For good reason the G-7 held their meeting last week in one of the remotest places on the planet. No protesters, no hordes of nasty press, just good fun doing useless things with their fellow co-conspirators.

South Korea (EWY) is the “K” that should be in “BRICK.” The country where the classic “V” shaped recovery is real. The international nuclear industry was blown away by Korea Electric Power’s $20.4 billion UAE deal. Speaking volumes about the direction of the global economy. South Korea takes a quantum leap ahead in the race for competitiveness, while the US falls further to the back in the dust. One small problem: the megalomaniac who lives next door with the starving million man army. Time for a visit to the Hermit Kingdom. (EWY)

Part II of three on Econophile's take on the economy for 2010: Debt, deleveraging, and residential and commercial real estate.

Millions of “pre-retirees” aged between 55 and 64 are being unrealistic about the size of their private pensions and living in a state of denial about their finances, experts say.