Economics and Investing:

It appears that $1,200 per ounce has become the new price floor for gold. With more global financial turmoil surely ahead, we ain’t seen nuthin’ yet for the precious metals. If you feel like you’ve missed the boat, don’t. It’s not too late to buy on the dips. (The top will be much higher than today’s price levels!) Silver is a better choice than gold for most investors. But of course I’ve been saying that ever since I called the bottom of the market, back in February of 2001. That was just a couple of months before its actual low point.

Reader Kevin A. wrote to mention: “Anthony Fry, senior managing director at Evercore Partners, recently told CNBC that markets are about to turn nasty. He said, “I don’t want to scare anyone but I am considering investing in barbed wire and guns, things are not looking good …” Mentioning the same interview, reader T.C.N. sent us a link to a Daily Bell article: False Meme of Anarchy?

Michael H. liked this Wall Street Journal piece: Tax Hikes and the 2011 Economic Collapse

Reader Chris P. suggested this piece by Amy Hoak: The housing-market recession is not over

Items from The Economatrix:

OPEC: 2010 Demand Picture Unclear

US Facing Debt “Super Cycle”

Gold Price in New Record, Hits $1,250

Insufficient Silver to Supply China’s Growing Demand (The Mogambo Guru)

Gold’s “Real Move” to $7,000 is Coming, Says Asset Manager

Stocks Surge on US Jobs Data, China Trade Growth