By S. McGuire
Masterfully researched, and written in an easy variety, purchase Gold Now makes a case for getting gold as defense opposed to the emerging dangers of an remarkable international forex situation and as a ecocnomic funding car. Divided into 5 finished components, this trustworthy source examines our country’s present monetary scenario from a old point of view and addresses many of the alarming matters that many economists are at the moment pointing to with quandary.
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Extra info for Buy Gold Now: How a Real Estate Bust, Our Bulging National Debt, and the Languishing Dollar Will Push Gold to Record Highs
The Dow Jones Industrial Average—then near 2,000— is over 13,000 today, the economy more than double the size, consumer confidence far higher; unemployment is substantially lower, as is inflation. It’s hard to bet against the optimists, and we have been winning the war with debt year after year. With sluggish wages and job growth now falling behind the number of new entrants into the workforce (as well as a weakening construction sector) only continuing high employment levels, tax cuts, and recourse to our credit cards and larger mortgages have been able to keep our consumption growing.
S. S. dollars) Source: Bureau of Economic Analysis. indd 24 1/12/08 2:36:29 PM Why the World Continues Lending (Most of Its Savings) to Us 25 unprecedented is that our current account deficit—funded by $2 billion in foreign capital each working day—absorbs most of the world’s net savings. If we were a smaller economy, our currency and financial markets almost certainly would have faced a crisis years ago as foreign investors fled our economy. 3 In each case, the countries relied heavily on foreign investment (as we do today), and when they over-borrowed (thanks in large part to historically low interest rates, such as we have) concerned investors fled the countries’ financial markets.
Lacking sufficient savings to lend to ourselves, our source of funding is the rest of the world. Though at the end of World War II, we held two-thirds of all the world’s international reserves, after decades of decline today we have less than a number of smaller economies. 3 Meanwhile, countries like China, Singapore, Taiwan, Japan, India, Poland, Russia, Mexico, and Brazil, have more than doubled their reserves in this decade—and several have quadrupled them. Most of these reserves are being accumulated in dollars, which reflects the fact that our liabilities to the world have been growing more rapidly than ever.