California home equity hangover: $649 billion in HELOC loans nationwide with most in California [1].
Two Years Later: The U.S. Economy Still Needs a Spark Plug [2]
Two years after Lehman Brothers collapsed in a $639 billion bankruptcy and the short-term financial markets seized up with terror, we’ve backed away from the brink. But skittishness in the financial markets hasn’t gone away. It’s just taken a different form — for instance, driving gold prices up 56% from $805 an ounce on Sept. 3, 2008, to $1,253 Sept. 3, 2010.
With spot silver [3] now solidly above $20 per ounce, and spot gold [4] above $1,260, I hope that I will now get less flak for being a “gold bug.” Back in 2001, when I proclaimed that silver was at the beginning of a bull market, many people though that I was a loon. (Silver was then under $5.23 per ounce.) But I now feel vindicated when I see headlines like these: Stocks, Treasuries, Gold Gain on Fed Bond-Purchase Speculation [5].
‘Too Big To Fail’ Author Weighs In the the Financial Crisis: Then and Now [6]. “It felt like the world was on fire,” recalls writer Andrew Ross Sorkin, whose book Too Big to Fail [7]
Items from The Economatrix:
Gold Prices Surge to Record High [8]
US Outlook Prompts Warnings by Japan, Australia Central Banks [9]
Market Gains as Economic Outlook Brightens [10]
SEC Expands Stocks Under “Circuit Breakers” [11]
Nervous Americans Want Easy Access to their Cash [12]