Tuesday, October 28, 2014
Saturday, October 25, 2014
We are in a depression. This is a global depression. It started in 2007 and it is going to continue indefinitely. Depressions are structural, monetary solutions are cyclical: you cannot solve a structural problem with a cyclical remedy - monetary policy will not work. What it could do eventually is cause inflation. So far people say: “Where is the inflation?...We printed trillions of dollars, there is no inflation”. That is because we would have had deflation, extreme deflation, but for the money printing. It did produce inflation to the extent that it offset the deflation… The world is in depression, we are not getting out of it.
- Source, Jim Rickards via RT
at 11:26 AM
Wednesday, October 22, 2014
I have been going for Chinese growth to get to 3 or 4%. I would say that China`s growth is already at 4%. I know they print 7.5%. But about half of the GDP they produce is wasted. So if I build a $5 billion train station in a small town that is $5 billion of GDP- this money is completely wasted because 10 people getting on the train are not going to pay for a $5 billion station. So you go around China with these ghost cities we have talked about before... So it is generating GDP, but it is completely wasted. If you adjusted the published GDP figures for the amount of waste, their actual growth is probably already roughly 4%. That is going to go lower.
- Source, Jim Rickards via RT
at 11:25 AM
Monday, October 20, 2014
I think this is one long “currency war”. We are now getting into more of a battle, more of a confrontation. The US dollar is the only strong currency that cannot last: the US cannot have a strong currency, because we are desperate for inflation. We have done all thequantitative easing, we have raised the zero, we have issued further guidance, we have done a twist, and we have done three versions of QE. We have done everything possible. The only thing left is to try to cheapen the currency and in fact the dollar is getting stronger. The Fed might not have minded a stronger dollar. Six months ago it did look like the economy was getting stronger. We saw strong second quarter GDP. So it was a little bit of a good day. And Europe was desperate for the help: they were stepping into recession. Japan`s economy collapsed in the second quarter. So you could see the feds saying “ok…we will have a stronger dollar and give Europe and Japan a break”. But that is over. Now the US is becoming a loser and we are the ones who need to take a break. The only way to get it is a cheaper dollar. I would look for that in the months ahead.
- Source, Jim Rickards via Russia Today
at 11:23 AM
Thursday, October 16, 2014
Sunday, October 12, 2014
China’s central bank is injecting a combined 500 billion yuan into the country’s top banks – a move signaling the deepest concerns yet of an economic slowdown in China. Erin weighs in.
Then, Erin sits down with Jim Rickards, economist and author of “Currency Wars: The Making of the Next Global Crisis,” to discuss Europe and China. After the break, Erin speaks with Marshall Auerback, director of institutional partnerships of the Institute for New Economic Thinking, to continue the discussion on Europe.
And in The Big Deal, Erin and Edward Harrison go over the most recent iPhone 6 reviews and break down some of the new features.
- Source, Russia Today
at 11:17 AM
Thursday, October 9, 2014
at 11:16 AM
Monday, October 6, 2014
at 11:15 AM
Saturday, October 4, 2014
Thursday, October 2, 2014
Rickards explains, "It is the thing you won't see coming that will take the system down.
Things happen much more quickly than what investors expect."
Rickards adds, "What will happen in gold is that it will chug along and then all of a sudden--boom.
It will be up a $100 an ounce, and then the next day it will be up another $200 an ounce.
at 11:12 AM