Hard Money Inflation: Oil and Gold Continue to Plunge
Aug 15th, 2008 | By J. Christoph Amberger | Category: Gold MarketPlunging gold and oil prices mean one thing: Welcome to the commodities bear market of 2008!
Plunging gold and oil prices mean one thing: Welcome to the commodities bear market of 2008!
Despite Ben Bernanke’s assertion yesterday at Harvard University that the US economy is not returning to the stagflation of the 1970s, slower growth and rising inflation have many wondering what is a good investment during stagflation should the Fed chief’s bravado prove to be wrong.
Bill Bonner says it took Paul Volcker’s leadership, along with a crippling recession, to end stagflation in the 1970s:
The yield on the Brazilian government’s zero-coupon bond due January 2010 was little changed at 14.32 percent, according to a report on Bloomberg.
More from this story:
Brazil’s interest-rate future yields rose after Banco Itau Holding Financeira SA, the country’s second-biggest non-government bank, boosted its forecast for central bank interest-rate increases.