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More Info On FDIC Bankruptcy And Bank Failures
The two hallmarks of the Great Depression were unemployment and bank failures. While the same economists who denied there was a recession for the first nine months of the economic contraction are now insisting that it is over and the recovery has begun, I am extremely dubious. Since the crisis became apparent, I believed that 2009 would be the equivalent of 1930, that being the year that everyone expected recovery to be waiting around the corner. But while there are some statistical green shoots, there are also numerous signs that the perceived recovery is illusory, and in fact, the economic…
24Aug2009 | The Real Deal | 0 comments | ContinuedGold Setting Records in Non-dollar Currencies
Gold’s performance in 2008 could look like a real yawner.
After all, it only managed to eke out a 5.7% gain. Not the kind you’d normally brag about over cocktails.
As we rang in the 2009 New Year, gold at $850 an ounce (in U.S. dollars) was roughly 15% below its all-time record high, set in March 2008.
But everything in life is perspective. In a year when oil lost 59%, the Standard & Poor’s 500 Index was down 38%, and the Dow Jones Industrial Average gave back 30%, things could certainly be worse for gold bullion investors. Much worse, in fact. Just ask the typical…
17Feb2009 | Money Morning | 0 comments | Continued
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