Reader E.L. recommended that we look at some of the YouTube clips of economist Peter Schiff. This Neal Cavuto segment aired back August, 17, 2007, when the Dow had “dipped” 7% below its 14,000 high, silver was around $12.70 per ounce, and the US Dollar Index was around 81. Most of the the pundits were downright bashing on Peter Schiff and calling the subprime crisis “a buying opportunity” for financial stocks. But given recent events–with the Dow now in the 12,700 range, silver around $16 per ounce, and the US Dollar Index down below 76, it seems that it was Schiff who was right.
o o o
I found some interesting economic analysis from Alex Wallenwein posted over at Gold-Eagle: Gold and the Biflationary Depression. Alex may have hit the nail on the head: we may soon see simultaneous currency inflation and asset deflation.
o o o
“The Bricklayer” in Detroit mention this YouTube video showing a low-tech small scale power windmill in Africa.
o o o
Steven found this nearly one-year-old Reuters news story that you might have missed: U.S. companies prepare for bird flu pandemic