The precious metals have been on a tremendous upleg as I predicted. But for the past few years I have maintained that gold and silver are about average value and sometimes a little expensive. In other words, they are no where near as cheap as they were at the beginning of this secular bull . . . → Read More: Is Marc Faber’s Gold Valuation Rationally Optimistic Or Just Insane
The House on Friday passed a Republican budget blueprint proposing to fundamentally overhaul Medicare and combat out-of-control budget deficits with sharp spending cuts on social safety net programs like food stamps and Medicaid.
The nonbinding plan lays out a fiscal vision cutting $6.2 trillion over the coming decade from the budget submitted . . . → Read More: This Means a Lot
Ila Patnaik and I wrote a paper titled Did the Indian capital controls work as a tool of macroeconomic policy?
The abstract of this paper reads: In 2010 and 2011, there has been a fresh wave of interest in capital controls. India offers an interesting setting for assessing the usefulness of capital controls. It has . . . → Read More: Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy?
At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.
At 8:30 AM EDT, the Housing Starts report for March will be released. The consensus is that construction on 525,000 new homes were started last month, . . . → Read More: Economic Events on April 19, 2011