Nov 28 2008
$50 Trillion in Global Wealth Gone in 1 Year: Examining the Financial Markets of the World.
Even after the historic stock market rally, global markets have lost $50 trillion in wealth over one year. I think people still haven’t come to terms or grasp the magnitude of wealth destruction we have just lived through. Sure, we can flip out about the $200 billion the U.S. Treasury injected into consumer debt markets [...]
Nov 28 2008
Citigroup Analyst Predicts $2,000 an Ounce Gold in next 2 Years: Another Stupid Move by U.S. Government Where we Should Have Invested the Bailout Money in Gold Bars.
So what do we get for our massive bailout of Citigroup? How about an ominous warning that global markets will collapse or we will face massive inflation. Either way, the suggestion from one analyst at Citi is gold will go to $2,000 in the next 2 years. We just backstopped $306 billion in toxic mortgages [...]
