Monday, June 21, 2010
That 9th Circle of Hell, “abandon all hope, ye who enter”
Gold reclaims its currency status as the global system unravels
Albert Edwards from Societe Generale (Paris: FR0000130809 - news) says the Atlantic region is one accident away from outright deflation - that 9th Circle of Hell, "abandon all hope, ye who enter" . Such an accident may be coming. The ECRI leading indicator for the US economy has fallen at the most precipitous rate for half a century, dropping to a 45-week low. The latest reading is -5.70, the level it reached in late-2007 just as Wall Street began to roll over and then crash
Posted by mark @ 11:20 AM (880 views)
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